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Frontrunning: May 24

  • Trump Meets With Pope Francis After Policy Clashes (WSJ)
  • Fed Minutes to Offer Clues on Debate Over Path of Rate Increases (WSJ)
  • Manchester bomber had 'proven' links to Islamic State (Reuters)
  • U.K. Chides U.S. for Leaking Manchester Bombing Probe Details (BBG)
  • China Handed First Moody's Downgrade Since 1989 on Debt Risk (BBG)

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range.

BofA Finally Asks "Is The Tech Bubble Happening Again?"

"US growth stocks just surpassed 2000 “bubble” highs vs global value stocks; data on valuation, flows, and the relationship between equities and bond yields are all good clues that a speculative overshoot has begun; there are nascent signs we are in the very early stages of an overshoot."

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)

10 Crazy Conspiracy Theories That Became Conspiracy Facts

Unfortunately, there are those who seek to lie and invent fictions for monetary gain and fame. Disinformation, propaganda, and dishonesty exist at all levels of society. However, sometimes conspiracy theories turn out to be true. Therefore, it’s worth assessing them, even if their claims appear wholly outlandish. Especially if their claims appear wholly outlandish.

Global Markets Rebound To End Volatile Week, As Trump Rout Fades

Two days after the biggest rout in US stocks in 8 months, and one day after Brazil's stock market was halted due to a circuit breaker, wiping out out 8.8% of its market cap, traders are eager to put it all in the rearview mirror and in a quiet session on the last day of the week, S&P futures are set for a green open, up 0.2%, in line with Asian and European markets, all looking to close the week on a positive note.

The Russian Obsession Goes Back Decades

What lots of Americans don’t realize is that what Trump has been enduring from the national-security establishment, the mainstream press, and the American right-wing for his outreach to, or "collusion with," Russia pales in comparison to what Kennedy had to endure for committing the heinous 'crime' of reaching out to Russia and the rest of the Soviet Union in a spirit of peace and friendship.