Deutsche Bank Implements Hiring Freeze, Stock Slides

While much attention in recent weeks has fallen on Deutsche Bank's balance sheet, today we got a timely reminder that the bank also has substantial income statement problems when Bloomberg reported that the biggest German lender is implementing a companywide hiring freeze as CEO John Cryan "seeks to lower costs and shore up investor confidence."

Global Stocks Tumble To Three Month Lows As China Fears Return

Remember when two weeks ago the China Beige Book warned that "It’s A Lot More Negative Than People Think" in the world's second biggest economy? Well after months of complacency about the Chinese economy and financial risks emanating from its $35 trillion financial sector, overnight the world got a rude awakening when China export figures tumbled, signalling a deeper slowdown than many anticipated just as the Fed prepares to raise interest rates.

Putin Ally Warns Americans To Vote For Trump Or Face Nuclear War

"Americans voting for a president on Nov. 8 must realize that they are voting for peace on Planet Earth if they vote for Trump. But if they vote for Hillary it's war. It will be a short movie. There will be Hiroshimas and Nagasakis everywhere."

Global Stocks Pressured By Weak Earnings, Rate Hike Concerns; Pound Jumps

Global stocks are pressured this morning after a plunge in the Thai stock market and currency on concerns about the king's health and Fed hikes coupled with some more bad news out of Samsung which cut profit estimates by a third, while European stocks are suffering after Swedish telecom giant Ericsson issued a profit warning, sending its shares plunging 17%.

Nuclear War Is On The Horizon: "This Is Not Just Talk... Action Has Been Taken"

As the U.S. elections draw nearer, the amount of bellicose rhetoric from politicians and key military commanders (in truth, “politicians” as well) has been increasing.  The main focus of that rhetoric has been directed toward Russia, and is also “blathered” in the direction of China, North Korea, and Iran when it suits U.S. political interests.  The problem is that all of it is not just talk: action has been taken, especially regarding Russia and the Syrian theatre of operations.

Global Stocks Decline On Samsung Woes; Rising Dollar Pressures Oil

Global markets and US equity futures fell on Samsung Galaxy Note 7 contagion concern, while the dollar rose to its strongest level in 11 weeks and U.S. bonds declined as investors boosted wagers that the Federal Reserve will raise interest rates this year.

"The Little People Have Had Enough" Nigel Farage Rages "...And They Want Change"

"I do not see the Brexit result in isolation. Instead, I believe we are witnessing a popular uprising against failed politics on a global scale. People want to vote for candidates with personality, faults and all. It is the same in the UK, America and much of the rest of Europe. The little people have had enough. They want change."

The Demise Of The EU

Like the Titanic, the EU was presented as a “super-state”, one that would be bigger and better than all the others in Europe. It was declared unsinkable. Yet, soon after it was launched, it hit an unexpected iceberg from which it could not recover. Years from now, historians and economists will debate the identity of the EU iceberg. Some will say Brexit, others will say Deutsche Bank. Still others will cite events that we have not yet seen.