Reuters

Barclays Exit Of Energy Business Triggers Surge In Oil Options Trades

Several hours before the US stock market opened on Monday, the commodity world was shaken by an unexpected surge in crude options trades, with traders noting that "someone is either moving positions, blown up or getting out of commodities. MASSIVE amount of blocks going through in crude options." As it turns out they were right: Barclays was exiting the last part of its oil book.

EU To Retaliate "Within Days" If US Imposes New Sanctions On Russia

According to an internal memo leaked to the press, Brussles said it should act "within days" if new sanctions the US plans to impose on Russia prove to be damaging to Europe’s trade ties with Moscow. Retaliatory measures may include limiting US jurisdiction over EU companies.

Frontrunning: July 24

  • Kushner, Russian Ambassador Had Undisclosed Contact (WSJ)
  • Democrats take aim at big companies in economic blueprint (Reuters)
  • Trump open to signing Russia sanctions legislation (Reuters)
  • Senate GOP Unsure of What Health-Care Measure They Will Vote On (WSJ)
  • Japan PM Abe denies favors for friend amid falling support (Reuters)

Poland's President Unexpectedly Vetoes Bill On Judicial Reform, Zloty Surges

Polish President Andrzej Duda unexpectedly said on Monday that he would veto two of three bills reforming the country's judiciary system, easing Brussels' fears that the ruling Law and Justice party will undermine the division of powers. the Polish zloty, which had tumbled as the battle over the judicial reforms has unfolded, surged on the news, trading up 0.9 per cent at PLN4.24 against the euro

Protecting The Cheaters: EU Regulators In Bed With German Auto Industry Regarding Diesel

"We can debate at length what pollution standards should be. What’s not debatable is German auto corporations lied and cheated their way to good results and now they are caught with their pants down, at least twice. Either way, diesel is on the way out. And with that pending change, Germany’s vaunted lead in auto technology has turned into ashes. Meanwhile, EU regulators are prepared to look the other way in an attempt to give German manufacturers time to catch up."

EU "Sounds Alarm" Over New US Sanctions On Russia; Germany Threatens Retaliation

The European Union "sounded an alarm on Saturday" about moves in the U.S. Congress to step up U.S. sanctions on Russia, urging Washington to keep coordinating with its G7 partners. In a statement by a spokeswoman after Republicans and Democrats in the U.S. Congress reached a deal that could see new legislation pass, the European Commission warned of possibly "wide and indiscriminate" "unintended consequences."

Is This The New Media Normal: Manufactured News For Hire?

"The Trump-Russia story has frequently been likened to Watergate, a specious comparison since the latter started with evidence of a crime and the former with publication of an anthology of fables, pornography, and Russian-sourced disinformation put together and distributed by partisan political operatives....as comms shops-for-hire like Fusion GPS have assumed the role that the American press used to occupy."