With traders focused on President Trump's address to Congress tonight where he is expected to outline his economic priorities and provide plan details, European stocks are little changed for a second day and Asian stocks decline modestly as U.S. futures trade around the flatline. Oil declines, while the dollar is little changed.
A Pentagon panel known as The Defense Science Board, told the Trump administration that they need to remake our nuclear arsenal into a force that is capable of engaging in a "limited" nuclear war. There’s only one problem with the idea of engaging in a limited nuclear war. It simply can’t be done.
Debt in China has increased dramatically in recent years, accounting for roughly one-half of all new credit created globally since 2005. The country’s share of total global credit is nearly 25%, up from 5% ten years ago.
The biggest banks on Wall Street, both foreign and domestic, have been repeatedly charged with rigging and colluding in markets from New York to London to Japan. Thus, it is natural to ask, have the big banks formed a cartel to rig the prices of their own stocks?
The main focus this week will be on President Trump's speech to Congress and Chair Yellen's speech which is the last before the blackout period. US durable goods, ISM, the BoC rate decision, EZ CPI, UK PMIs and a busy calendar in Australia & Scandinavia also coming up.
In a quiet night for markets, in which the top highlight was the Oscar's historic peddling of best picture "fake news" and where "millions" of Academy members seemingly voted illegally, European stocks were little changed after a selloff that pushed them to a two-week low, while the MSCI Asia index fells as Japan’s Topix dropped for third day. S&P futures were unchanged.
'Good cop' Mnuchin appeared to play expectations-manager this morning in an interview with FOX's Maria Bartiromo. After confirming the Trump administration is "not touching" entitlement programs, and having said this week that tax reform is expected by August, he appeared to walk back that hype by saying that President Trump "will be touching on tax reform" during his speech to Congress this week.
A tremendous number of things are happening in North Korea and Russia, which although not momentous when taken separately; are quite profound within a grander scheme: the worldwide plot to form a state of global governance.
It is ironic that when the bubble pops, given all the Central Bank infused liquidity to create this bubble paradigm, that all liquidity dries up, and all the sudden there is no real liquidity at all in the system when everyone direly needs it!
The GDP of China’s northeastern industrial province of Liaoning collapsed by 23% in nominal terms once it was no longer able to "cook its books" and suggested that - if extrapolated to the rest of China - the data in the world's second biggest economy is nothing short of catastrophic.