Italy's Government On Verge Of Collapse: Next Trumpian Domino To Fall?

Italy’s government is on the verge of collapse. Prime minister Matteo Renzi reiterated his position just yesterday, he will not hang on if a referendum he seeks does not pass. Polls show the referendum will fail. Then again, polls have not been remarkably accurate recently, to say the least. On the other hand, this poll shows a strong preference to what is labeled “populism”.

China Warns It Is Ready To Slow Yuan Plunge On Capital Outflow Fears

While Chinese policymakers have taken the yuan's recent slide in stride, they are getting ready to slow its descent - i.e., sell reserves -  for fear of fanning capital flight if the currency falls too quickly through the psychologically important 7-per-dollar level, Reuters reports citing policy advisers.

Japanese Yen Set For Biggest Plunge Versus Dollar In 18 Years

With the US dollar soaring to its highest since 2003 (up 10 days in a row), unprecedented moves in the Euro, Yen, and Yuan are now daily headine-makers. Overnight saw USDJPY near 111.00 (before rolling over a little this morning), pushing the pair to its best 2 week gain since 1988... and its second best 2-week gain since currencies floated.

Jeff Sessions Accepts Trump's Offer To Serve As US Attorney General


One of Sessions' earliest decisions will be whether to follow through on Trump’s campaign promises to appoint a special prosecutor to investigate the e-mail practices of Hillary Clinton. Before the election, Sessions called for a special prosecutor.

Frontrunning: November 18

  • Dollar heads for best fortnight vs. yen since 1988 (Reuters)
  • Jeff Sessions Said to Be Trump’s Pick for Attorney General (BBG)
  • Flynn set to be national security adviser (Reuters)
  • NATO Secretary General Expects to Speak With Trump ‘Very Soon’ (BBG)
  • Hensarling Could Be Wall Street’s Best Hope or Worst Nightmare (BBG)

Volkswagen To Cut 30,000 Jobs, 5% Of Workforce

Following a tumultuous year of declining sales as a result of its emissions-cheating scandal, today Volkswagen agreed to cut 30,000 job , roughly 5% of its global salesforce of 624,000. After months of intense talks, labor and management agreed on a package to balance cost-cutting with investment as the auto industry shifts away from traditional combustion engines and adapts to car-sharing services and self-driving technologies.

Constitutional Law Experts Confirm Trump's "Muslim Registry" Not Illegal

Despite post-election threats that if the president-elect attempts "to implement his unconstitutional campaign promises, we’ll see him in court," Politico reports that three constitutional lawyers say the ACLU won’t have much of a shot before a judge. The Supreme Court has "consistently reaffirmed the power of the president to control the entry and exit from the country as a matter of national security," giving Trump’s administration a decided advantage in any litigation.

Sweden Begins Planning Transition From Cash To Digital Currency

Sweden’s Riksbank - the world's oldest central bank and the first in the world to issue paper currency in the 1660s - has launched a project to examine what a central bank-backed digital currency would look like and what challenges it would pose. The RIksbank could become the first major central bank in the world to create its own virtual money as the use of cash declines.

French PM: "Europe Is In Danger Of Falling Apart"

"Europe is in danger of falling apart," French prime minister Manuel Valls said at an event organized by the Sueddeutsche Zeitung newspaper. "So Germany and France have a huge responsibility."

Yellen Warns Of Excessive Risk-Taking In Testimony, Says Hike "Appropriate Soon", No Mention Of Election

Janet Yellen signalled that the US central bank is reluctant to delay its next increase in short-term interest rates "for too long", warning that keeping rates on hold could spur excessive risk-taking and adding that a rate hike could be appropriate "relatively soon." Yellen is due to say on Thursday morning that as the Fed sees the case for a rise in rates continuing to strengthen it "must remain forward looking in setting monetary policy".