"Unless the root causes of popular discontent are addressed (uneven growth, pockets of high unemployment and weak wage growth), the protest vote is unlikely to go away. In fact, it may well grow."
It's all falling apart in Germany as frightened citizens load up on small arms and hurl grenades at migrant centers while at least 40% of the public now believes the "Iron Chancellor" should resign.
Donald Trump "won't be bothering" with Thursday's GOP debate thanks to the fact that Fox's Megyn Kelly is among the event's moderators, but he will be hosting his own "special" event in the same city at the same time, setting up a ratings battle with the network. Meanwhile, Ted Cruz has challenged the bellicose billinoaire to a one-on-one showdown worth $1.5 million for veterans charities.
"We believe that the current environment is not a normal cyclical downturn but a fundamental shift in the operating environment for these commodities. As a consequence, a wholesale recalibration of ratings in the mining industry is deemed necessary. " - Moody's
- China shares end at 14-month lows after late selling frenzy (Reuters)
- China Dec gold imports through Hong Kong highest since 2013 (Reuters)
- China Contagion Fades as European Stocks Pare Drop, Oil Rises (BBG)
- Apple set for slowest ever iPhone sales growth (Reuters)
- Saudis, Russia Seen by Iraq as More Flexible on Oil-Output Cuts (BBG)
- China Probes NEV sector for subsidy fraud (China Daily)
While energy E&P companies were dropping like flies in 2015, credit rating agencies and banks have remained awfully quiet....
Don't look now, but Brussels’ preferred Spanish PM is about to be ousted by a coalition of leftist parties, and that, in turn, suggests that the idea of fiscal retrenchment will be thrown out, along with anything that even looks like austerity. That could trigger a showdown between Madrid and Brussels over Spain’s intention to adhere to EU deficit targets.
After the biggest two-day surge in oil in seven years, early in the overnight session both Brent and WTI continued their run for a third day, entering a bull market, 20% up from recent lows hit just last week (still 15% down on the year) when Saudi Arabia spoiled the momentum party after the world’s biggest crude exporter said it’s keeping up investments in energy projects while diesel consumption in China dropped for a fourth consecutive month, signaling an industrial slowdown. And thanks to the near record correlation between equities and oil, global stocks and US equity index futures initially rose only to slide following the Saudi comments.
Here Come The Blackouts: Largest Ever Muni Restructuring Falls Apart As Puerto Rico's Power Authority Balks At $9 Billion DealSubmitted by Tyler Durden on 01/24/2016 16:20 -0400
The largest restructuring in muni market history fell apart on Friday when Puerto Rican lawmakers failed to approve a deal to rework some $9 billion in liabilities for the island's beleaguered power utility. "This is incredible. Our power plants look like the cars in Cuba."
"There is hope of more stimulus in March and potential for even more stimulus in Japan and China, so if we get concrete positive economic news the rebound could last into next week,” said John Plassard, senior equity- sales trader at Mirabaud Securities. “I told my clients to fasten their seatbelts and wait for better news, and this is finally happening."... "The turnaround in sentiment came amid signs central banks may be prepared to act after $7.8 trillion was erased from the value of global equities this year on China’s slowdown and oil’s crash."
- Oil slump rocks markets again in equity rout (Reuters)
- Global Stocks on Brink of Bear Market as Oil Slides; Ruble Drops (BBG)
- Global Stocks Slide on Oil Rout (WSJ)
- Emerging Markets Roiled as Stock Selloff Surpasses Asian Crisis (BBG)
- Rising Debt in Emerging Markets Poses Global Threat (WSJ)
- China shares slip as oil slides, outweighing stimulus hopes (Reuters)
S&P's Downgrade (By A German Analyst) Is A "Politically-Motivated" Decision Aimed At Polish AuthoritiesSubmitted by Tyler Durden on 01/19/2016 13:50 -0400
The Standard and Poor’s rating agency, notorious for its controversial assessments, has this time bashed Poland in the wake of the anti-Polish frenzy whipped up by the European media. To be more precise, Poland was assailed by a German S&P analyst who lowered Poland’s rating from A- to BBB+, despite the economic data that by no means warrant such an evaluation.
Call it whatever you like,blame whoever you want...but Houston,we have a problem....
"We have until March, the summer maybe, for a European solution. Then Schengen goes down the drain. There is a big risk that Germany closes. From that, no Schengen ... There is a risk that February could start a countdown to the end."