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Frontrunning: June 10

  • Bund Brexit rally puts zero yield firmly in sight (Reuters)
  • Investors Shed Assets as Government-Bond Yields Hit Fresh Lows (WSJ)
  • Stocks Retreat With Oil as Record-Low Bond Yields Point to Angst (BBG)
  • Oil prices ease from 2016 highs on stronger dollar (Reuters)
  • Puerto Rico Debt Crisis Bill Passes U.S. House (WSJ)

Venezuela Opposition Leader Hit On The Face With Metal Pipe As Police Watch

Following the recent tragic stories of mass looting by the country's starving population, which has resulted in at least one death, and even people resorting to killing animals for food, little can shock us anymore as we follow Venezuela's total social disintegration. Which is why we took today's news that the leader of Venezuela's congressional opposition bloc was hit in the face with a pipe, and bloodied as he attempted to make his way into a government building, with hardly any surprise at all.

Futures Slide On Rising Dollar As Global Bond Yields Hit Fresh Record Lows

Please do not adjust your screens: that off-green color you are seeing, that is not a malfunction. Yes, for the first time in six days, global stocks are lower with the MSCI all-country world index dipping from a 6 month high dragged down by lower European and Japanese equity markets, as the USDJPY dropped to a fresh five-week low while Treasury yields continued to hit new record lows because, as Bloomberg explains, "traders assessed the outlook for the global economy."