Reuters

Saudi Airstrike Kills 7 At Yemen Hospital Run By Doctors Without Borders

Many have forgotten that as US and Russian forces battle the Islamic State, a few hundred kilometers away, Saudi Arabia continues to wage war in Yemen, which is where earlier today a Saudi-led coalition air strike hit a hospital run by Doctors Without Borders (MSF) in the northern Hajja province in Yemen, killing at least seven people and wounding 13.

One Person Shot, Officer Injured In Second Night Of Milwaukee Violence Despite State Of Emergency

Despite Wisconsin Gov. Scott Walker declaring a state of emergency in Milwaukee on Sunday and activating the state’s National Guard a day after riots and looting erupted in the city spurred by the fatal police shooting of an armed man following a traffic stop, the violence flared again on Sunday night, with one person shot, a police officer injured and objects hurled during the protest early Monday, police said.

Frontrunning: August 15

  • China shares hit seven-month high; world yields keep falling (Reuters)
  • Dollar pinned down by easing Fed rate hike expectations (Reuters)
  • Russia says oil market talks with Saudi developing (Reuters)
  • Secret Ledger in Ukraine Lists Cash for Donald Trump’s Campaign Chief (NYT)
  • The No-Pivot Election: Clinton and Trump Make No Policy Concessions (BBG)

New York Uses Record Electricity As City Melts Under Unprecedented Heatwave

Con Ed broke a new record for weekend New York City electricity consumption at 1 p.m. Saturday, with a record 11,664 megawatts of electricity usage, as a result of a heatwave gripping the Tri-State area over the weekend, with the temperature at JFK airport hitting a high of 95F degrees, setting a new daily record and eclipsing the old record high of 93F set in 2003. When accounting for humidity, the heat index rose to as high as 105 to 110 degrees in some spots.

US Olympic Gold Medalist Ryan Lochte Robbed At Gunpoint In Rio

Following conflicting reports,  including the IOC denying any incident took place,  Lochte himself confirmed with TODAY's Billy Bush that he and the other swimmers were robbed at gunpoint. "We got pulled over, in the taxi, and these guys came out with a badge, a police badge, no lights, no nothing just a police badge and they pulled us over," Lochte said. "They pulled out their guns, they told the other swimmers to get down on the ground — they got down on the ground."

Is Trump Deliberately Throwing The Election To Clinton?

"I am not saying that I believe Donald Trump is trying to throw the election to Hillary Clinton, but I am saying this is a prospect that is now worth seriously considering if the endless series of Trump blunders and gaffes continues."

Merkel Urges German CEOs To Hire Refugees

Merkel has invited executives from some of Germany's biggest listed companies to attend a summit next month where she will urge them to hire more refugees. According to Germany's Bild, the government wants to get as many as possible refugees into the job market, which would reduce their dependence on the state. This is great news for Deutsche Bank, which now has many potential candidates for a "scapegoat" CEO as the company's woes accelerate.

How The ECB Helped Buy Krispy Kreme

Central banks bought 21% of JAB Holdings' 150m bond increase, a transaction that coincided with the first day of the European Central Bank's Corporate Sector Purchase Programme. According to the distribution statistics seen by IFR, central banks and officials institutions were the second biggest buyers of the May 2023 tap via Deutsche Bank and HSBC.

Mexico's "Legendary" Oil Hedging Desk Is Quietly Preparing For The Next Plunge

While oil longs and Saudi Arabia are enjoying this week's latest, substantial short squeeze, prompted if not so much by the latest set of cheerful, if repetitve, IEA "rebalancing" forecasts, the fundamental reality as confirmed not only by a recent Morgan Stanley report which sees oil dropping to the mid-$30s, but also by the just released Baker Hughes oil rig count which reported a spike of 15 rigs in the past week, the most since 2015, suggests that there is more downside pressure in store for oil. Some are already actively hedging for just that.