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Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More

The key economic releases this week are the durable goods report and Q1 GDP revision on Friday. The minutes of the May FOMC statement will be released on Wednesday at 2PM. In addition, there are several scheduled speaking engagements by Fed officials this week

Frontrunning: May 22

  • Trump Arrives in Israel, May Show His Cards on the Peace Process (BBG)
  • Taxes, Budget Are Focus for White House Despite Probes (WSJ)
  • Paul Manafort’s Lucrative Ukraine Years Are Central to the Russia Probe (BBG)
  • Ford set to fire CEO Mark Fields as shares founder (Reuters)
  • Producers Set to Extend Cuts as Rally Stalls: OPEC Reality Check (BBG)

McMaken: Dismantle The FBI, And Give Its Money Back To The States

With James Comey's firing, we're told the FBI is in turmoil, and Washington DC cocktail parties are all atwitter over the excitement of the scandal. But don't worry about the FBI. If history has proved anything, the Bureau, no matter how much chaos it may endure, can always rely on a fat check from Congress - funded by the American taxpayers.

Is Canada The Next Hot Money Victim?

One of the interesting things about the Great Recession was how Canada’s financial system sailed through it largely unscathed. But instead of Americans learning from Canada, Canadians appear to have concluded that we had it right after all... and have started to behave like turbo-charged Americans

When Might The Pillaging End?

When the present debt bubble eventually pops, “governments will lose the economic power to continue their advance against economic freedom.”  Unlike the Depression of the 1930s, the country will not be the largely agrarian, highly-productive country of (generally) hard-working people. It will be a society of entitlement-conscious people, who will fail to rise to the occasion.

How The US Government Let A Giant Bank Pin A Scandal On A Former Employee

When the CFTC asked Gibson Dunn to come up with a list of individuals who should be on the subpoenas that the agency was preparing to send to UBS -- names that would determine the search terms that the bank used to sieve through millions of pieces of internal communications -- one was especially prominent: Tom Hayes.

S&P Futures Jump Ahead Of GOP Healthcare Vote, Ignore China Commodity Crash

S&P futures rose on hopes a successful Republican healthcare vote on Thursday will unlock the Trump fiscal agenda, while European shares jumped to a 20 month high on signs Macron is poised to win Sunday's French election coupled with reassuring corporate results, including strong earnings from HSBC, even as Chinese and Australian stocks fell as commodities, and iron ore futures particularly, tumbled.