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North Korea Says "Loud-Mouthed" Trump's "Reckless" Syria Bombings Justify Their Nuclear Program

"If you are looking for a world crisis which could bring about the dangers of a clash between great powers then North Korea is a bigger concern than Syria.  I think what the Chinese are beginning to understand is that if this can’t be solved peaceably through negotiations, through pressure, then there is serious risk that the US will have only one option left, which is the military option."

Key Events In The Holiday-Shortened Week

In this holiday-shortened week (markets closed for Good Friday), focus turns to several inflation prints in G10 in the week ahead, with US and UK inflation data likely to get the most attention. In addition, there are a few scheduled speaking engagements by Fed officials, including a speech by Fed Chair Yellen on Monday.

Futures Flat Ahead Of Yellen As Geopolitical Risks Loom; Fear Barometer Spikes

S&P futures point to a slightly lower open, while Asian and European stocks are likewise modestly in the red. Trading volumes are muted for most markets on Monday with investors spooked by rising geopolitical tensions in the Middle East and the Korean peninsula. It is also a holiday-shortened week in much of the West.

ISIS Attacks US-Led Base In Southern Syria, As Assad Said To Use White Phosphorus

 Islamic State militants attacked a US-led coalition base in southern Syria on Saturday, "triggering a fierce fight that required coalition airstrikes to repel, U.S. military officials said Sunday." Meanwhile,  on Sunday the Qatar-owned Al Jazeera reported that Syrian jets have bombed the town of Idlib using White Phosphorus.