The Bank of England and London's bullion banks plan to begin releasing data on the amount of physical gold actually stored within the London gold vaulting system. Will this data provide anything meaningful? Probably not.
Top California Democrats called Trump cruel and his proposals unconstitutional after the businessman-turned-politician threatened to withhold federal funding from the most populous U.S. state if lawmakers passed a so-called sanctuary bill aimed at protecting undocumented immigrants.
"The U.S. presidential campaign, putting undocumented immigrants and refugees in the spotlight, terrified them. The election and inauguration of Mr. Trump appears to be the final reason for those who came mostly last month."
Having recently accused the US of 'wasting $14 trillion on war instead of its people', China's second richest man, Jack Ma, continued to voice his concerns to President Trump on a recent trip to Australia, warning retreat from globalization will only result in trouble. This followed China "lodging representations" with the United States over Washington's new sanctions list targeting Iran, which includes Chinese companies and individuals.
According to Mario Draghi, portfolio manager of the world's biggest hedge fund, it is not his gargantuan balance sheet equal to 36% of the eurozone GDP, nor the $14 trillion in global central bank liquifity that will be responsible for the next market crash, but that Donald Trump's deregulation of the banking industry has "sown the seeds of the next financial crisis."
French presidential candidate Francois Fillon apologized to the French people for having employed his famil, but said his wife’s salary was “perfectly justified” and that he has been the subject of unprecedented political attacks.
"Any negative polls are fake news, just like the CNN, ABC, NBC polls in the election. Sorry, people want border security and extreme vetting. I call my own shots, largely based on an accumulation of data."
In latest political twist in the French presidential race, AFP reports that recent French presidential frontrunner Francois Fillon, who has been embroiled in a major graft scandal, will hold a press conference at 4 p.m. at which many traders are expecting he will announce that he is stepping down, although according to subsequent Reuters reports Fillon may launch a "counter attack" against the fake job scandal that has sent his standing in the polls crashing.
In a relatively quiet session, which may see US traders sleep in a bit after last night's Superbowl thriller, European and Asian shares rose ahead of Mario Draghi’s testimony at the European Parliament, while US equity futures were fractionally higher (up 0.1% to 2,293) after stocks jumped the most in a week, as traders assessed the trajectory for interest rates while scrutinizing every new Trump tweet.
The central bank on Friday increased the interest rates on reverse repo by 10bp - the last time the PBOC raised OMO rates was more than two years ago in 2014. The PBOC also increased SLF rates, in what some have dubbed "the Most Important Unnoticed Global Event."
"In accordance with the judge's ruling, DHS has suspended any and all actions implementing the affected sections of the Executive Order... we have reversed the provisional revocation of visas under the Executive Order."
According to Iran's semi-official Tasnim agency, which cited Amir Ali Hajizadeh, commander of the Islamic Revolutionary Guards Corps’ aerospace division, Iran successfully tested a range of land-to-land missiles and radar systems during the drills in a 35,000 square-kilometer stretch of desert in the northern Iranian province of Semnan.