Australia: The Madness Continues

In Australia, according to judges, women and children must accept sexual assaults because it is part of the "Islamic culture" of their attackers. It would seem that in parts of Australia, this "Islamic culture" has replaced the rule of law.

The Twilight Of Unipolar American Power

"... the days of the United States dominating the world in an arrogant, absolutist, heavy-handed fashion and dictating to other nations what they can and cannot do are over and the United States must come to realise this and make the required if painful adjustment."

The Two Main Things To Look For In Today's FOMC Minutes

1) Concern on inflation – Several speakers have sounded less hawkish on prices than Yellen did, so a more dovish language on CPI shouldn't surprise the market.
2) Balance sheet timing – Consensus here is for the Fed to begin its balance sheet unwind in September, and pause on hikes when balance sheet reinvestment policy changes.

As The S&P 500 Becomes One Giant ETF, BofA Has Four Major Warnings

As ETFs control increasingly more of the S&P 500, and now account for more than a third of overall stock ownership, Bank of America warns to expect higher single-stock volatility, valuation distortions and liquidity concerns in the coming years, and issues the following four warnings to traders and investors...

How To Make People Respect The Flag

"It’s time to face the horrid truth. Vast quantities of Americans no longer respect the American flag because the ideas it is meant to symbolize are lost."

Chris Christie Signs Budget Bill, Ending New Jersey Government Shutdown

After a three day state of emergency and government shutdown, on Tuesday morning New Jersey Gov. Chris Christie signed a compromise budget bill ending the state shutdown that became an embarrassment for the outgoing governor when he was photographed lounging on a beach that had been closed to the public for the holiday weekend.

Global Stocks Rebound From N.Korea ICBM Jitters; US Markets Closed For "Amexit Day"

With the US out on holiday for the 4th of July, overnight trading volumes have been muted, as Europe started off in the red but has since trimmed most losses (Stoxx 600 -0.1%) while S&P500 futures rose shaprly from session lows spurred by the European open ignoring the risk-off sentiment from North Korea's latest missile launch, trading 0.2% higher, or up 4 points to 2,429.

Europe's Migrant Crisis: Views From Central Europe

The European Union has initiated legal action against the Czech Republic, Hungary and Poland for failing to comply with a controversial order to take in thousands of migrants from Africa, Asia and the Middle East... "We are not going to take part in the madness of the Brussels elite."

Trump Hopes To Quietly Steal Putin's Natgas Business In Europe

Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. The US presidnet will tell the group that Washington wants to help allies by making it easy for U.S. companies to ship more LNG to central and eastern Europe.

Tesla Q2 Sales Miss Expectations, "Severe" Battery Production Shortfall Blamed

Tesla announced it had delivered "just over" 22,000 vehicles in the second quarter, with sales including just over 12,000 Model S sedans and just over 10,000 Model X SUVs. Deliveries fell short of the consensus forecast of 22,912, which Tesla blamed on a "severe production shortfall of 100kWh batter packs."