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Futures Slide As Weak Start To Q2 Continues Amid Global Growth, Political Jitters

Global stocks were pressured by a poor start to the second quarter in the US, where carmakers reported disappointing sales data, slamming auto stocks around the globe. The selling has persisted for a second day, with Asian stocks, S&P futures fall and European shares all partially in the red today after their biggest decline in two weeks.

S&P Futures Fade Overnight Gains As Euro Slides; China Stumbles

Asian shares and oil are lower, European shares are little changed, and S&P futures are fractionally in the red after gaining for most of the overnight session, perhaps troubled by warnings by two Fed presidents who warned that markets and valuations appear frothy, and the Federal Reserve may have to raise rates more times than currently forecast.

After Brexit, 9 Reasons To Be Bullish On Great Britain

Today Mrs. May finally officially announced Brexit and kicked-off the process of divorce from the EU. A disaster for Britain, according to officials in Brussels, Berlin and Paris. Really? Whenever there is broad consensus it is worthwhile to challenge it.

The Swamp Drains Trump

So, the long and the short of it is that the RussiaGate story is spinning out of control, and Trump’s adversaries - who go well beyond Congress into the Deep State - might be getting enough leverage to dump Trump. Either they will maneuver him and his people into some kind of perjury rap, or they will tie up the government in such a web of investigative procedural rigmarole that all the country lawyers who ever snapped their galluses will never be able to unravel it.

Dijsselbloem Must Go, But That Solves Nothing

The EU in its present form cannot continue, and any options that would have allowed reforming it have been closed off due to its very structure. That real problem is that people don’t get to vote for who controls Brussels. So even if Dijsselbloem is ousted, the powers that be, Germany, Holland, Finland, Austria, will simply appoint another one of their pawns in his place. 

Frontrunning: March 23

  • U.S. stock futures slip as concerns mount over delays to Trump tax cuts (Reuters)
  • Global Markets Follow U.S. Stocks Lower (WSJ)
  • Gorsuch, Avoiding Pitfalls, Moves Closer to Approval (WSJ)
  • Trump, Koch brothers at odds over 'Trumpcare' vote (Reuters)
  • Manafort's plan to 'greatly benefit the Putin Government' (AP)