Turkey

Global Central Bank-Driven Stock Rally Fizzles; Crude Rebounds On Saudi Oil Production Cut Report

Until minutes ago, this week's rebound in global equities appeared to be running out of steam as oil retreated from a two-week high and a dollar slide ended.  However, as noted just around 6am, Reuters reported, citing as it usually does various "anonymous sources", that in a radical departure from its long-held policy of not cutting production, Saudi Arabia was prepared to cut production on condition that Iran freezes output, which led to an instant spike in crude.

Why Syria Matters To You

Syria is drawing in major global and regional powers. When, for example, the US and Russia are engaged in a country - with very different goals and supporting hostile factions - it is certainly not something to dismiss out of hand. On the contrary, Syria matters a great deal. If nothing else, it has become a test of the strength of powers with interests far beyond Syria.

Soothing Fed Sends Global Stocks, US Futures, Commodities Higher

Following the Fed's "hawkish hold" and the BOJ's "confused contradiction", global risk (and non-risk) assets got the green light, and as a result stocks and bonds rallied in Asia and Europe, with US equity futures rising another 0.4%, advancing with oil and industrial metals, as iron surged in Chinese trading.

Frontrunning: September 21

  • Bank of Japan's policy reset muddies markets' risk mood (Reuters)
  • BOJ overhauls policy focus, sets target for government bond yields (Reuters)
  • BOJ Shifts Policy Framework to Targeting Japan’s Yield Curve (BBG)
  • Fed Focus Turns to Dots as Hike Odds Fade: Decision-Day Guide (BBG)
  • Oil jumps after surprise drop in U.S. crude inventories (Reuters)

Man Shot After Attacking Israeli Embassy in Turkey With A Knife

A man wielding a knife was shot and wounded by security officials outside Israel's embassy in the Turkish capital, Ankara. An Israeli Foreign Ministry spokesman said the attacker was "wounded before he reached the embassy" adding that "the assailant was shot and wounded by a local security man," he said, adding that all staff at the embassy are safe.

US Desperately Pumps "Humanitarian" Smokescreen For Failing Syria Ceasefire

Washington’s lie about seeking a genuine ceasefire in Syria is in danger of being exposed for the world to see. So, hilariously, a charade is being hurriedly orchestrated in order to hide this ignominy. As usual, the Syrian government is being scapegoated for the real cause of violence in the country. That real cause is Washington’s state-sponsored terrorist-fueled war for regime change.

Bibi Backs Trump — On Putin

John McCain told Pence that Putin was a “thug and a butcher,” and Trump’s embrace of him intolerable. Said Lindsey Graham: “Vladimir Putin is a thug, a dictator…who has his opposition killed in the streets,” and Trump’s views bring to mind Munich. Remarkable. Bibi, a buddy of Vlad, gets $38 billion from the same Republican senators who, when Donald Trump says he will repay personal compliments from Vladimir Putin, gets the McCain-Graham wet mitten across the face.

US Futures, European Stocks Rebound, Bonds Fall Ahead Of US Data Deluge

The overnight session started with more weakness out of Asia, where chatter that the BOJ may end up doing nothing despite all the trial balloons (as we hinted yesterday), sent the USDJPY sliding, pushing the Nikkei lower, leading to a 7th consecutive decline in the Topix, the longest such stretch since 2014 even though the BOJ is now actively buying a record amount of ETFs. However, the modest dip in S&P futures and European stocks proved too much for BTFD algos, and risk promptly rebounded.

ISIS Fighter Reveals Group's Plan If Defeated In Syria

ISIS will flourish and survive even if it is defeated in the present battle for Syria and Iraq an ISIS militant has told The Independent. In an exclusive interview, Faraj, a 30-year-old veteran fighter from north east Syria, says that "when we say that the Islamic State [ISIS] is everlasting and expanding, it is not a mere poetic or propaganda phrase," adding that "ISIS has sleeper agents all over the world and their numbers are increasing."

George Soros Warns Europe: Accept Refugees Or Face Extinction

The refugee crisis and the Brexit calamity that it spawned have reinforced xenophobic, nationalist movements that will seek to win a series of upcoming votes. Rather than uniting to resist this threat, EU member states have become increasingly unwilling to cooperate with one another. They pursue self-serving, beggar-thy-neighbor migration policies – such as building border fences – that further fragment the Union, seriously damage member states, and subvert global human-rights standards.

Washington's Failure In Syria Is Not About Strategy

So much has been said about the Syrian conflict in numerous analyses, yet one of the least discussed topics concerns the strategy and the relationship of cooperation and conflict between the United States, Turkey, the Kurds and Daesh.