SWIFT

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.

One Way Or Another – Venezuela Will Send Oil Prices Up

What happens next is unclear. The government and the opposition are heading for a major clash over the July 30 vote to revise the constitution. The opposition fears a dictatorship-in-the-making. But either way the country’s economy is standing at the abyss. There is no way out of the downward economic spiral for Venezuela in the short run without significantly higher oil prices.

Frontrunning: July 19

  • Republicans consider bipartisan healthcare talks (Reuters)
  • Health Care Collapse Could Leave Trump Winless in His First Year (BBG)
  • Republicans to Push Ahead on Repeal of Affordable Care Act (WSJ)
  • Obscure Coal CEO Rains Money on Trump While Outflanking Rivals (BBG)
  • GOP Tries to Regroup on Obamacare Repeal as Trump Lashes Out (BBG)

"It's Going To Be A Long Summer" One Trader Warns No One, Not Even The Fed, Believe Their Own Forecasts

It was fun while it lasted. For a few brief months, The Fed appeared to 'hawkish, no matter what' as data-dependent morphed into data-ignorant. Markets relished the confidence-inpiring message from the ivory tower academics... but, as former FX trader Rich Breslow notes, none of that occurred in reality and now, "no one really believes even their own forecasts," adding that, as markets wake up to this reality, "it's going to be a long summer."

Frontrunning: July 11

  • Trump Looks to Wall Street for Fed Bank Regulator (WSJ)
  • Rates play prods dollar to four-month high versus yen, kiwi dollar falls (Reuters)
  • Kaspersky Lab Has Been Working With Russian Intelligence (BBG)
  • Buffett’s Berkshire Moves Away From Stock Picking (WSJ)
  • OPEC's Barkindo says all producers should help balance market (Reuters)

DeSoto To DeLorean - 14 Defunct Car Brands (& How They Failed)

Automobile enthusiasts around the world know brands like Studebaker, Plymouth and Packard, but you’d be hard-pressed to find any of these on the roads today. Former powerhouses in the American auto market, they have since become beloved by collectors, but lost to the general public.

After 164 Years, Aetna Is Leaving Connecticut For New York

After 164 years of being headquartered in Hartford, CT, Aetna, the insurance giant founded in the state's capital announced Thursday that it would move its headquarters to New York City in a crushing blow to the fiscally challenged state.