Volvo

Global Stocks Hit Record High, Set For Longest Winning Streak Since 2015

With the USD just off 10-month lows, there continues to be an easing of loosening of financial conditions for emerging markets which also supports equities. After decent gains in Asia on the back of positive signs from China this week, MSCI's world stocks index looked set for a ninth day of gains which would mark its longest winning streak since October 2015.

Frontrunning: July 6

  • EU, Japan Strike New Trade Deal (WSJ)
  • EU-Japan deal sends anti-protectionist signal before G20: German minister (Reuters)
  • Republican lawmaker Steve Scalise's condition worsens after June shooting (Reuters)
  • The Flashpoints for World Leaders at G-20 Summit (BBG)
  • Leftist protesters vow to disrupt G20 summit in Hamburg (Reuters)

Self-Driving Uber With Passenger Involved In Arizona Collision

In the latest setback for the world's most valuable private company which in recent weeks has been reeling from multiple crises, on Friday a self-driving Uber vehicle was involved in a crash in Tempe Arizona, which left the Volvo SUV stranded on its side.  According to ABC, a car failed to yield to the autonomous SUV and hit it, authorities said. The Volvo then rolled onto its side.

Trump Is Right: "Swedes Are Suppressed By A Religious-Cult-Like Political Correctness"

"When I lived in Stockholm in 1999-2000, Rinkeby already had a reputation as a dangerous place, especially at night for young girls... President Trump actually did some good, speaking for the Swedes, unable to speak for themselves, suppressed by a religious cult-like political correctness, impressed by a secretive establishment."

2016 Year In Review

We started this year with the economy deteriorating and finished it with the second interest rate increase in ten years. There were a lot of ups and downs along the way, but ultimately 2016 was defined by three key story-lines:  1) Brexit 2) The Presidential Election 3) Fed Policy. The first two events were votes that shocked the world. The stock market’s reaction to each was arguably even more shocking. 

Is This The End Of The Road For Apple's Self-Driving Car?

Apple has all but thrown in the towel on its self-driving car endeavors. Its project Titan, which was supposed to release a fully autonomous vehicle in the early years of the next decade, has been scaled back substantially and will from now on focus on developing just the self-driving software used in autonomous cars.

Canaries 'In Extremis'

Nobody “important” will admit it until after the election, but the resumption of the depression is at hand.