Japan

A Nuclear North Korea Is Here To Stay

"The latest nuclear test provided no surprises. But it dramatically reminds us of the DPRK’s growing nuclear capabilities...It is time to debate the unthinkable: acquiesce in, or even encourage, creation of countervailing South Korean and Japanese nuclear deterrents."

How Hedge Funds Are Preparing For This Weekend's "Catastrophe"

"If people just watched the Weather Channel, they’d sell everything. The round-the-clock coverage is looking for ways to sound as sensational as possible. We’re trying to look at it from a more cold, detached, calculative perspective.”

All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

S&P futures are flat, still spooked by the WSJ's report that Gary Cohn will not be the next Fed chair, while both European stocks and Asian shares gain in a quiet overnight session in which everyone is looking forward to today's main risk event: the ECB meeting. The dollar continued to weaken against all of its peers with the Yuan breaching 6.50 for the first time since May 2016.