1. Potus out of town, all is pretty quiet for now
    Dismiss Notice
  2. Good Mon Morning! Gold catches a bid +2.7 to 1256, while Silver is +16 to 1696. Crude still moving up 48 to 5115. The USD is down 6 and breaks 97, 9696.
    Dismiss Notice
  3. Week of 5/13/2017 Closing prices & Chg Over Last Wk---- Gold $1227.70-- UP 0.80 Silver $16.40-- UP 13 Oil $47.84-- UP 1.62 USD $99.13 -- UP .61
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

R.T.M. ~ Frontrunning ~ 3rd Ed., Vol.12 ~ March 20th - 24th

Discussion in 'Coffee Shack (Daily News/Economy)' started by searcher, Mar 19, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    REALIST NEWS - Stocks Soared on Trump’s $1-Trillion Infrastructure Boom. But that Just Evaporated.
    jsnip4



    Published on Mar 19, 2017
    Today's Playlist: https://www.youtube.com/watch?v=-1KkG...

    Article: http://wolfstreet.com/2017/03/18/trum...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    http://www.jmbullion.com/?utm_source=... (Recommended for Silver and Gold Purchases.)

    http://www.realistnews.net
     
  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    REALIST NEWS - Egon Von Greyerz – The Greatest Bubble In History Is Beginning To Implode
    jsnip4



    Published on Mar 19, 2017
    Today's Playlist: https://www.youtube.com/watch?v=-1KkG...

    Article: http://kingworldnews.com/egon-von-gre...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    http://www.jmbullion.com/?utm_source=... (Recommended for Silver and Gold Purchases.)

    http://www.realistnews.net
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Michael Pento-Stock Market Will Fall at Least 50%
    Greg Hunter



    Published on Mar 18, 2017
    Money Manager Michael Pento predicted the bond market would ultimately collapse in his 2013 book titled “The Coming Bond Market Collapse.” He says the collapse has started and will get worse quickly. Pento is watching Europe and says, “When the European Central Bank (ECB) announces they are going to take the $60 billion a month of easing and take it to zero, you are going to see a bond market revolt. The free market, whatever is left of it, is going to aggressively start shorting bonds. You will see yields spike in Europe, which is going to drag up bond yields across the globe. That’s when this thing will all unravel and unravel very, very quickly.”

    In closing, Pento predicts, “The stock market is a bubble. It’s going to fall at least 50% for starters and before Janet Yellen gets to helicopter money. You better be ready.”

    Join Greg Hunter of USAWatchdog.com as he goes One-on-One with money manager Michael Pento of Pento Portfolio Strategies.

    All Links can be found on USAWatchdog.com: http://usawatchdog.com/great-recessio...

    http://usawatchdog.com/donations/

     
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    The Signals to Watch Before Gold & Silver’s Breakout | Bill Murphy of GATA
    Reluctant Preppers



    Published on Mar 19, 2017
    How long can the Gold & Silver market suppression persist despite booming stocks, real estate and BitCoin? Is JP Morgan hoarding silver, and when will their strategy change to let the market run? The end may come overnight, but if there will be any early indicators, what will those signals be that will be followed by metal demand overwhelming supply and prices roaring back with a vengeance? Will the new Trump administration start enforcing laws against gold & silver manipulation, order an audit of our gold reserves, or even install gold-backed currency? Renowned Gold fair markets vigilante Bill Murphy, co-founder of watchdog group GATA.org returns to Reluctant Preppers to update us on his latest research and advise how to position ourselves, and what signals to watch!

    ===============

    Gold & Silver Market Action -

    - 2 breakout attempts,

    - Mike Malone forecasting a further retest of bottom in Q2 before relaunch to highs?


    New Trump administration impact on Gold & Silver?:

    ------------------------------------ Will Trump start enforcement against the manipulation? Trump economic appointees: draining the swamp or more of the same? Trump advisor Judy Shelton favorable towards gold Fort Knox Gold Audit Will Trump call for one? Is it even possible? How would an expose play out if the US has no gold reserves? Gold-backed currency?


    Who is really shorting the silver?
    Are JPM & rest of bullion banks the players pushing silver down to prevent exposing their other manipulations?

    What change will finally enable physical demand to force separation from the manipulated paper price? It will come out of nowhere, when people get disgusted enough, BitCoin people all excited, other assets all excited…

    Wikileaks: Revealing what GATA has been claiming all along: that directives from the executive branch have been issued to divert public interest from gold & silver.

    When to position yourself with a strong holding of physical gold & silver is now, in the doldrums, not after the momentum explodes, or you’ll risk either “paying up” or waiting for a pullback that never comes…

    Lack of free markets, lack of free press, like Soviet Russia.

    Everyone needs to understand that these are artificially low prices. We’ve never seen anything like this in 18 years. No other factor is being allowed to make its normal impact on price discovery. Once physical overtakes manipulation, we’ll see something like we’ve never seen before.

    Subscribe (it's FREE!) to Reluctant Preppers for more ► http://bit.ly/Subscribe-Free

    Channel graphics by http://JosiahJohnsonStudios.com
    Promotion by http://FinanceAndLiberty.com
     
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Global Stocks, US Futures Slide Spooked By G20 Protectionist Shift; Dollar Drops For 4th Day

    [​IMG]
    by Tyler Durden
    Mar 20, 2017 6:41 AM


    Global markets start the week mixed with Asian stocks rising (Japan was closed for holiday), European stocks sliding, weighed down by declines in oil-and-gas shares and banks, and S&P500 futures also down. The dollar fell to a six-week low, falling four days in a row for the first time since early November as G20 leaders scrap a long-standing commitment to reject all forms of trade protectionism, suggesting the "weak Dollar" camp in Trump's inner circle is winning.

    Equities retreated in Europe, Australia and New Zealand, as did S&P 500 Index futures. Japan’s stock market was closed Monday for a holiday. Indexes rose in Hong Kong, Malaysia and Thailand. The Australian 10-year yield resumed a retreat after rising at the end of last week. The yen touched its strongest in three weeks, while the Korean won was the highest in five months. Oil fell for the ninth day in 11.

    "European equity markets have started the week with a heavy risk-off sentiment after the G20 communiqué explicitly reflected U.S. intentions to establish trade protectionist measures," Ipek Ozkardeskaya, senior market analyst at London Capital Group, told Reuters. "As the world's number one economy is preparing to set significant barriers against the world, investors are increasingly worried," she said.

    MSCI's broadest index of Asia-Pacific shares outside Japan rose almost 0.4 percent to hit its highest level in more than two years on Monday. As a result, MSCI's global benchmark equity index was little changed.

    On Friday, Wall Street was flat to negative, dragged lower by bank shares that fell along with Treasury yields. Futures on the S&P 500 Index were down 0.1 percent. The underlying gauge rose 0.2 percent last week. The Stoxx Europe 600 index fell 0.2 percent. The FTSE 100 and Dax index were also both down 0.2 percent. Australia’s S&P/ASX 200 Index and South Korea’s Kospi lost 0.4 percent. The Hang Seng Index advanced 0.8 percent, while the Shanghai Composite Index rose 0.4 percent. New Zealand’s S&P/NZX 50 Index slid 1.4 percent, the most since November, dragged lower by Fletcher Building Ltd., which identified more expected losses in its construction division.

    For those readers who missed the weekend's big news, the G20 omitted a pledge to resist all forms of protectionism in its communique from its meeting in Germany over the weekend. That shift followed hours of wrangling that kept officials in suspense on whether the G-20 would even mention trade, with occasional doubts that a communique might be produced at all.

    Despite some modest weakness, global stocks are coming off their best week since January, even as the dollar has slumped 1.7% after the Federal Reserve raised interest rates on March 15 yet didn’t accelerate the timeline for future tightening. The dollar index of its value against a basket of six currencies fell to a six-week low of 100.02 on Monday. It fell 0.2 percent against the yen before recovering to trade flat on the day at 112.70 yen JPY=D4, while the euro rose 0.3 percent to $1.0770 EUR=. Citi became the latest major bank to abandon its headline forecast for a fall in the euro to below parity with the dollar, upping its prediction for the single currency over the next six to 12 months to $1.04 from $0.98 previously.

    The dollar index of its value against a basket of six currencies fell to a six-week low of 100.02 on Monday. It fell 0.2 percent against the yen before recovering to trade flat on the day at 112.70 yen, while the euro rose 0.3 percent to $1.0770.

    [​IMG]

    Volatility remains low across markets from equities to currencies and fixed-income as investors strive to assess how sustainable the nascent global economic recovery is. As the chart below shows, following the recent volley of central bnk announcements, FX volatility has tumbled.

    [​IMG]

    The greenback extended its recent decline, with the Bloomberg Dollar Spot Index touching its lowest level since November, pressured by investors who kept the latest bearish trend intact. A Japanese holiday and the previously noted Group-of-20 meeting that left most business unfinished suppressed flows in the major currencies; dropping a reference from the G-20 statement to resist trade protectionism weighed on the dollar, with macro and leveraged accounts adding to shorts positions, according to a London-based trader. Volumes were near the lowest they have been in March, a Europe-based trader noted. The Bloomberg dollar index, the BBDXY dropped, as much as 0.3% to 1223.95, lowest since Nov. 11, before paring decline; investors may look for guidance by speeches by Fed’s Dudley and Yellen expected later this week before meaningfully adjusting their current positioning.

    Currency markets will also be focused on a raft of speeches by Fed officials this week, including Chicago's Charles Evans on Tuesday and Friday, Chair Janet Yellen on Thursday, Dallas's Robert Kaplan and Minneapolis's Neel Kashkari on Friday and New York's William Dudley on Saturday. "Sentiment towards the dollar has deteriorated significantly," Societe Generale FX analysts said in a note to clients on Monday.

    In rates, the 10-year U.S. Treasury yield has fallen around 10 basis points below 2.50 percent since the Fed raised rates last week for only the third time in over a decade. The gap between two- and 10-year yields has shrunk, meaning the yield curve has flattened. This suggests investors are skeptical growth and inflation will be strong enough to warrant a sustained cycle of rate hikes, and has subsequently weighed on the dollar.

    In commodities, oil prices continued their downward trend as OPEC supplies remained steady despite touted cuts and rising U.S. drilling contributed to concerns about a supply glut. U.S. crude dropped 1% to $48.29 a barrel. Global benchmark Brent fell 0.7% to $51.40. The weaker dollar boosted gold which rose 0.4 percent at $1,233 an ounce, after touching a two-week high earlier in the session.

    Bulletin Headline summary from RanSquawk
    • European equities trade modestly lower so far, with Deutsche Bank weighing on the financial sector has they begin their capital raising
    • FX price action has been relatively muted amid light newsflow, while oil trades lower after lEA's Birol highlighted an increase in US oil output
    • Highlights include, Chicago Fed National Activity Index, Bundesbank Report and comments from Fed's Evans and BoE's Haldane.
    Market Snapshot
    • S&P 500 futures down 0.2% to 2,371.00
    • MXAP up 0.2% to 148.64
    • MXAPJ up 0.4% to 481.53
    • Nikkei down 0.4% to 19,521.59
    • Topix down 0.4% to 1,565.85
    • Hang Seng Index up 0.8% to 24,501.99
    • Shanghai Composite up 0.4% to 3,250.81
    • Sensex down 0.5% to 29,516.48
    • Australia S&P/ASX 200 down 0.4% to 5,778.91
    • Kospi down 0.4% to 2,157.01
    • STOXX Europe 600 down 0.1% to 377.86
    • German 10Y yield rose 0.5 bps to 0.44%
    • Euro up 0.3% to 1.0766 per US$
    • Brent Futures down 0.4% to $51.58/bbl
    • Italian 10Y yield fell 0.9 bps to 2.357%
    • Spanish 10Y yield rose 0.5 bps to 1.886%
    • Brent Futures down 0.4% to $51.58/bbl
    • Gold spot up 0.4% to $1,233.53
    • U.S. Dollar Index down 0.2% to 100.15
    Top Overnight News via BBG
    • German Chancellor Angela Merkel and Japanese Prime Minister Shinzo Abe called for a concerted effort to defend free trade, expanding the list of economic powers joining together to counter the U.S. shift toward protectionism
    • Money managers cut bets on rising West Texas Intermediate crude by a record amount during the week ended March 14, while wagers on a further price drop doubled as oil remained below $50 a barrel
    • Deutsche Bank to Raise $8.6 Billion After Pricing Share Sale
    • Deutsche Bank Says Revenue to Stay ‘Broadly Flat’ This Year
    • Cerberus-Backed Albertsons Said to Consider Merger With Sprouts
    • Blackstone Venture Acquires $1.4 Billion of Hansteen Properties
    • Hansteen Rises to Highest in 10 Years on Blackstone Asset Sale
    • Alphapharm Begins Recall of Epipen Auto-Injector in Australia
    • Ford’s Lincoln to Offer Its First Hybrid Model in China
    • Arconic Reports Multi-Year Deal Supply With Toyota North America
    • FDA Investigating Rate of Cardiac Events With Abbott’s BVS
    • Cognizant Said to Likely Fire Over 6,000 Employees, ET Now Says
    In Asian markets, stocks traded mixed amid a lack of key drivers and with Japanese trade closed for the Spring Equinox public holiday, while ASX 200 (-0.5%) was led lower by telecoms and profit-taking in gold related stocks. China was positive with Hang Seng (+0.7%) the outperformer after a firm liquidity injection of CNY 100bIn by the PBoC and as participants digested earnings releases, while Shanghai Comp. (+0.4%) lagged after Chinese property prices continued to surge with Bejing prices up over 20% Y/Y, which could essentially attract funds away from stocks. Elsewhere, US equity futures were pressured and broke below Friday's lows, while Nikkei 225 remained shut due to the public holiday. Chinese Property Prices (Feb) Y/Y 11.8% (Prey. 12.2%). PBoC injected CNY 60bIn in 7-day reverse repos, CNY 20bIn in 14-day reverse repos and CNY 20bIn in 28-day reverse repos.

    Top Asian News
    • Risk Appetite Goes Missing as Asia Starts the Week: Markets Wrap
    • Yellen’s Shadow Looms Large Over China Central Bank Policy
    • Selling Dollars Is Becoming The New Trump Trade: Markets Live
    • Meitu Erases 28% Surge as Shares Seen Volatile Before Earnings
    • China Said to Temporarily Suspend Beef Imports From Brazil
    • Hong Kong Stocks Extend Weekly Rally as Shenhua Jumps on Payout
    • Credit Suisse Co-Head of Asia Cash Equities Lee Said to Leave
    • Malaysia Should Improve ‘Fragmented’ Military, Honeywell Says
    • Morgan Stanley Said to Lose Second Senior M&A Banker in Asia
    European bourses have kicked off the week in tentative fashion with the calendar looking somewhat light. EU bourses are trading with minor losses amid slight weakness in the financial sector with Deutsche Bank commencing their EUR 8bIn capital raising plan, while UBS are set to go on trial in their tax case in France. Elsewhere, Vodafone initially saw telecoms as the only sector in the green after agreeing to merge their Indian unit with Idea Cellular, however with Co. shares paring the initial upside amid suggestions that the merger may struggle to pass through regulatory requirements. Price action in fixed income markets has been somewhat contained with Bunds only modestly lower, with slight underperformance observed in the belly of the curve. Ahead of the French TV debate in the presidential race, OATs had been underperforming for much of the morning with the German/French spread widening the most in 2 weeks.

    Top European News
    • Deutsche Bank Says DoJ Closed Criminal Inquiry in FX Matter
    • Merkel, Abe Call for EU-Japan Deal to Stem Trade Barriers
    • Visco Says ECB Could Shorten Break Between QE Exit And Rate Hike
    • Atos Denies Worldline Preparing Ingenico Bid, Reuters Says
    • Hugo Boss Drops After Report Frere’s GBL Isn’t Shareholder
    • Ingenico Rises After La Lettre Report Worldline Preparing Bid
    • Troim’s Borr Buys Transocean’s Jack-Up Fleet for $1.35 Billion
    • Paris Climate Accord Could Make the World $19 Trillion Richer
    • Vodafone, Idea Agree on Merger to Create India Mobile Leader
    In currencies, the yen was little changed at 112.74 per dollar as of 8:26 a.m. in London after reaching its strongest since Feb. 28. The euro climbed 0.3 percent to $1.0769, while the Australian and New Zealand dollars rose 0.3 percent and 0.4 percent, respectively. The British pound gained 0.2 percent. The South Korean won jumped 1 percent to its highest since Oct. 20, leading gains in emerging Asian markets. The baht also reached its strongest level since October. The USD-index continues to weakn post the G20 meeting as finance leaders caved into pressure from the US and scrapped a commitment to reject all forms of trade protectionism. As such, the pullback in the greenback has supported its major counterparts, with GBP making a break above 1.2400. Additionally, from a UK stand point reports report have been circulating that PM May's closest have been calling for a potential snap election on May 4th in order to take seats from the SNP and reduce the likelihood of a second Scottish referendum. Another thing to keep an eye out for will be the French Election TV debate scheduled at 1900GMT, consequently, price action in EUR could be somewhat tame throughout the day, as has been the case so far, with the notable data of the morning coming I the form of Eurozone labour cost index, which was in line with Exp. ECB's Visco (Dove) said that deflation risk seems to have passed and that the ECB could shorten the time gap between exit from QE and first rate hike.

    In commodities, another rise in oil rigs continues to put the pressure on crude prices as WTI looks to test USD 48 to the downside, while lEA's Birol added to these concerns having noted that he expects a major boom in US oil output and shale gas volumes. Elsewhere, copper will be in focus after labour unions at Chile's Escondida mine slams new offer from management. West Texas Intermediate crude slid 0.7 percent to $48.42 a barrel. It has dropped 10 percent this month, heading for the steepest one-month slide since July. Gold rose 0.3 percent to $1,232.97 an ounce, climbing for a fourth day. Base metals fell on the London Metal Exchange, with copper forwards down 0.2 percent and tin retreating 0.3 percent.

    US Event Calendar
    • 8:30am: Chicago Fed Nat Activity Index, est. 0.03, prior -0.05
    * * *

    DB's Jim Reid concludes the overnight wrap

    Markets look set to be a little less interesting than my bedroom arrangements this week with perhaps the highlights being lots of Fed speakers, the first televised French Presidential debate tonight and the flash global PMIs on Friday. The Fed speakers will likely reinforce the message from the FOMC but watch for signs of increased confidence in their outlook. The French debates might start to lead to some bigger moves in the polls which have been relatively steady of late. As for the PMIs, volatility has been very subdued in the face of high political uncertainty due to continued strong data, especially survey data so the flash PMIs are often the best real time update of the global economic pulse.

    Over the weekend the G-20 meeting ended with the "resist all forms of protectionism" line dropped from the previous communiqué. The US were the stumbling block but it's still early days in the new Trump administration so for now it seems that markets will wait and see before becoming too scared by the implications. Indeed the more significant meeting may be the G-20 meeting in Hamburg in July by which time some of that uncertainty around the new US administration may have started to clear up. Aside from that the rest of the weekend news has been fairly light. The general view of the meeting between President Trump and Chancellor Merkel was that it was inconclusive with the President also tweeting after that “Germany owes vast sums of money to NATO and the United States must be paid for the powerful, and very expensive, defence it provides to Germany”.

    Over in markets there hasn’t been too much a reaction to the weekend headlines with bourses generally mixed in Asia, albeit with fairly modest moves. Indices in China are little changed while the Kospi (-0.52%) and ASX (-0.47%) are down. The Hang Seng (+0.53%) is up however and in doing so has passed the 24,000 level for the first time since 2015. Elsewhere, US equity index futures are down about -0.20% while in FX the USD is a smidgen weaker.

    Staying in Asia, there was also some data released in China over with the weekend with the release of the February house prices data. For new homes excluding subsidized housing, prices were reported as rising in 56 out of the 70 major cities which compares to 45 cities in January. It’s worth noting that Beijing’s municipal government on Friday increased the down payment requirement on second homes by 10% in an attempt to cool prices. The maximum length of a mortgage was also cut to 25 years from 30 years.

    The relatively quiet start this morning follows Friday’s session in which markets appeared to run out of steam following a packed week. That was certainly the case for equity markets where the S&P 500 closed with a modest -0.13% loss and so capping the weekly return at +0.24%. In Europe the Stoxx 600 did however end +0.16% despite Banks underperforming and so making the weekly return a solid +1.36%. Last week’s winner was EM however with the MSCI EM index rising every day last week, including a +0.25% gain on Friday, to finish +4.26% for the week and the strongest week since July last year.

    Meanwhile, over in bond markets and following those Nowotny comments late on Thursday suggesting that the ECB could raise the deposit rate before the main refinancing rate and also prior to QE ending, the front end of the Bund curve saw yields tick higher, with 2y yields up 1.8bps to -0.792% and to the highest since February 6th. 10y and 30y Bund yields on the other hand finished 1.4bps and 3.1bps lower. Our European fixed income strategy team highlighted in their weekly on Friday that the market is now pricing a significant probability of a oneoff hike in the deposit facility rate. They note that a 10bp hike is priced by Jan-18, a 15bp hike by May-18 and a 20bp hike by Aug-18. Indeed they believe that the sequencing of the ECB’s easing decisions since the start of QE suggests that a one-off hike in the deposit rate is likely, however at the same time could present some communication challenges highlighted by the steepening of the money market curve in the recent repricing of the timing of the first 10-20bp move in Eonia rates.

    Elsewhere 10y Treasury yields retraced much of the previous day’s move by falling 4bps to 2.501%. The Fed’s Kashkari spoke – who as a reminder was the lone dissenter at the FOMC vote last week – and said that relatively little change in recent data and his belief that the job market slack remains tilted his vote towards favouring not raising rates.

    While there wasn’t much particularly going on in markets, Friday was however another busy session for data releases in the US. The most anticipated was the February industrial production report which came in a little disappointing with production flat during the month versus expectations for a +0.2% mom rise, while capacity utilization also ticked down one-tenth to 75.4%. Manufacturing production did however rise +0.5% mom during the month and matching consensus. Away from that the first look at the March University of Michigan consumer sentiment reading revealed a 1.3pt rise in the headline sentiment reading to 97.6 (vs. 97.0 expected). Most notable in the details was the 3pt rise in the current conditions index to a new high of 114.5. The expectations component on the other hand rose a much more modest 0.2pts to 86.7 while both 1y and 5-10y inflation expectations fell three-tenths each to 2.4% and 2.2% respectively. The other data out on Friday was the conference board’s leading index which rose +0.6% mom in February and the labour market conditions index which strengthened by 1.3 index points in February. All told the Atlanta Fed’s Q1 GDP tracker remains unchanged at 0.9%. That continues to fly in the face of the NY Fed model which, while revised down 0.4% last week, still sits at 2.8%.

    Over to this week’s calendar now where, after all the excitement last week, it looks set to be a fair bit quieter this week. The lone data in Europe this morning is PPI in Germany while in the US the only data due is the Chicago Fed national activity index. On Tuesday the early focus is on the UK with both the February CPI/ PPI/RPI prints and also the CBI trends orders data and public sector net borrowing data for last month. In the US we’ll get the current account balance reading. Kicking off Wednesday is Japan where the latest trade data is due. There is nothing of note in Europe on Wednesday while in the US we’ll get the FHFA house price index and February existing home sales. The diary is a bit busier on Thursday with various confidence readings due in France and Germany in the morning along with UK retail sales data for February. Over in the US we will then get new home sales, initial jobless claims and the Kansas City Fed’s manufacturing index. We end the week with what looks set to be the busiest day on Friday. In the morning we will get the flash March manufacturing PMI in Japan before we then get the flash manufacturing, services and composite PMI’s in Europe. France GDP will also be released. In the US we then end with preliminary February durable and capital goods orders and also the flash manufacturing PMI.

    Away from the data this week’s Fedspeak consists of Evans this evening, Dudley, George and Mester on Tuesday, Fed Chair Yellen on Thursday along with Kashkari and Kaplan, and then Evans on Friday along with Bullard. Bundesbank President Weidmann is also due to speak today and the ECB’S Lautenschlaeger on Thursday. The BoJ minutes from the January meeting are due out on Tuesday. Other events worth watching is the live televised debate between the French presidential candidates tonight and also the Euro area finance ministers meeting today, including a discussion on Greece.

    http://www.zerohedge.com/news/2017-...-g20-protectionist-shift-dollar-drops-4th-day
     
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Frontrunning: March 20

    [​IMG]
    by Tyler Durden
    Mar 20, 2017 8:03 AM

    • Stock futures lower after G20 drops free-trade pledge (Reuters)
    • U.K. to Trigger Brexit on March 29, May’s Spokesman Says (BBG)
    • Comey to Testify on Hill About Russia, Wiretap Allegation (WSJ)
    • Germany, Japan Push Trade Deal as Merkel Seeks Anti-Trump Allies (BBG)
    • North Korea engine test may be prelude to partial ICBM flight (Reuters)
    • Regulators Said to Weigh Appraisal Change That May Spur Lending (BBG)
    • Gorsuch to restore conservative tilt to US court (FT)
    • White House installs political aides at Cabinet agencies to be Trump’s eyes and ears (WaPo)
    • Canada Committed to Lower Debt Ratio, Morneau Says Before Budget (BBG)
    • Deputy to Uber CEO Abruptly Exits, Adding to Management Turmoil (WSJ)
    • Almost half of Canadians want illegal border crossers deported (Reuters)
    • Deutsche Bank Says Revenue to Stay ‘Broadly Flat’ This Year (BBG)
    • What’s Attacking the Web? A Security Camera in a Colorado Laundroma (WSJ)
    • French financial prosecutor's office evacuateda (Reuters)
    • A Six-Figure Income May Not Shield You From a Shock (BBG)
    • It’s Good to Be a CEO, Again: Stocks Rise, and So Does Pay (WSJ)
    • Norway unseats Denmark as world's happiest country (Reuters)
    • Rent or Buy in New York? Compare the Costs (BBG)
    • No plans for early election, says UK PM May's spokesman (Reuters)
    • Visco Says ECB Could Shorten Break Between QE Exit And Rate Hike (BBG)
    • China says preparatory work for Xi-Trump meeting has begun (Reuters)
    • Polls in Austria show erosion of far-right Freedom Party's lead (Reuters)

    Overnight Media Digest

    WSJ

    - Uber Technologies Inc said a prominent retail executive it hired as president just six months ago is leaving, the most senior in a string of executive departures as the ride-hailing giant reels from an escalating series of controversies. http://on.wsj.com/2mjaMFD

    - Pay raises are back in style in the corner office, wiping out cuts from a year earlier and pushing CEO compensation to new highs amid a surging stock market. http://on.wsj.com/2mjaLBo

    - Walt Disney Co's "Beauty and the Beast" was a monster at the box office this weekend, opening to $170 million from Thursday night through Sunday in the U.S. and Canada, according to studio estimates. http://on.wsj.com/2mjbsuO

    - Freeport-McMoRan Inc's standoff with Indonesia over the giant Grasberg copper and gold mine is entering a new phase, as the company scales back operations while trying to force a resolution to the dispute. http://on.wsj.com/2mjhMT0

    - Music mogul Irving Azoff and a business partner, Tim Leiweke, recently purchased Venues Today, and are in talks to buy Pollstar, people familiar with the matter said. Both outlets cover the live-music business. http://on.wsj.com/2mj8l5N

    - Canadian mining company Dominion Diamond Corp received a $1.1 billion bid from a privately held conglomerate in Montana, but the two sides are at a negotiating impasse, setting the stage for a public takeover fight. http://on.wsj.com/2mj6Bd7

    - The Italian government on Saturday made a series of nominations for the top management of large listed companies it controls, including confirming the chief executive of oil major Eni SpA for a second three-year term. http://on.wsj.com/2mj8sOL

    - Apple Inc's Chief Executive Tim Cook defended globalization in a rare public speech in China, as his company faces political pressure in the U.S. to bring back factories. http://on.wsj.com/2mjaJcU

    FT

    British Prime Minister Theresa May will begin her tour of the UK in order to unite the country before she enters formal Brexit negotiations by the end of the month.

    The UK defence ministry has said it is in talks with Germany to sign a new defence co-operation agreement after the country launches Brexit.

    SNC-Lavalin of Canada and UK's Petrofac Ltd are eyeing John Wood Group Plc and Amec Foster Wheeler Plc for picking up assets and contracts.

    The Children's Investment Fund wrote a letter to Safran SA's board in a push to its campaign to block Safran's takeover bid for Zodiac Aerospace SA .

    NYT

    - Jeff Jones, Uber's president of ride sharing, has left the company after just six months, Uber said on Sunday. In addition, Brian McClendon, Vice-President of maps and business platform at Uber, also plans to leave at the end of the month. http://nyti.ms/2mKP2hX

    - German officials included the offices of both Volkswagen's chief executive and the head of the Audi division when they raided company premises last week as part of an investigation into emissions fraud, according to a copy of the search warrant. http://nyti.ms/2nqd7hJ

    - A senior Chinese official on Sunday defended his country's push for greater self-sufficiency in computer chips, electric cars and other industries, calling it a necessary strategy in the face of Western countries' controls of certain high-tech gear. http://nyti.ms/2nqmXQM

    Britain

    The Times

    * A senior director of MI5, Jeremy Fleming, is coming out of the shadows to become the new head of intelligence eavesdropping service GCHQ. http://bit.ly/2mKzkn2

    * Shareholders could win the legal right to block excessive pay deals for company bosses, as part of British Prime Minister Theresa May's attack on large executive pay. http://bit.ly/2mGtx0W

    The Guardian

    * Google executives are bracing for a two-pronged inquisition from the advertising industry and the government over the company's plans to stop ads being placed next to extremist material. http://bit.ly/2nB4kde

    * Former British ambassador to Washington, Peter Westmacott, has issued a withering criticism of U.S. President Donald Trump and his inner circle, accusing them of making absurd claims about UK's involvement in alleged wiretapping of Trump Tower that he warns could damage close ties between the two countries. http://bit.ly/2np3uQj

    The Telegraph

    * Billions of pounds' worth of water contracts will be awarded to utilities in the coming weeks ahead of the opening of the business supply market. The first major framework contract is expected to be awarded by Crown Commercial Services on behalf of UK's public sector which is understood to be worth between 800 million pounds to 900 million pounds. http://bit.ly/2mGqA0i

    * British housebuilder Crest Nicholson Holdings is facing an embarrassing investor backlash over generous share awards for its top executives as the government weighs radical reforms to rein in excessive pay. http://bit.ly/2n58Sr3

    Sky News

    * A man named David Hempseed has been charged after a member of staff at a NatWest bank in Birmingham was held hostage, police say. http://bit.ly/2nTvmZt

    * Scottish First Minister Nicola Sturgeon has insisted to a rapturous crowd at her party's conference that "there will be an independence referendum". http://bit.ly/2nTxJvu

    The Independent

    * Theresa May is expected to visit Wales this week as she commences a tour of the devolved nations ahead of triggering Article 50 within the next fortnight. http://ind.pn/2mY9cWP

    http://www.zerohedge.com/news/2017-03-20/frontrunning-march-20
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Gold and Silver Market Morning: Mar 20 2017 - Gold consolidating at higher levels!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
    The price differential between the three centers is widening again as China once again is leading the way on gold prices. But you will note that Chinese gold prices have barely changed in the last two days leading to the conclusion that Shanghai is making the gold price but exchange rate changes are changing prices in other currencies. The dollar continues to weaken taking gold prices higher there.
     
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    TVR [#320] 03-20-2017 PRE-MARKET PULSESCAN (AUDIO ONLY)
    ALGO CAPITALIST



    Published on Mar 20, 2017
    Please remember to RATE, SHARE, FAVORITE, COMMENT AND SUBSCRIBE.
     
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    REALIST NEWS - Preet Bharara Explains Why He Let Wall Street Bank Execs Avoid Jail
    jsnip4



    Published on Mar 20, 2017
    Today's Playlist: https://www.youtube.com/watch?v=oO_uU...

    http://www.silverdoctors.com/headline...
    http://www.zerohedge.com/news/2017-03...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    http://www.jmbullion.com/?utm_source=... (Recommended for Silver and Gold Purchases.)

    http://www.realistnews.net
     
  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Global Stocks Rise; Euro Surges To 6 Week High After French Presidential Debate

    [​IMG]
    by Tyler Durden
    Mar 21, 2017 6:43 AM


    European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD.

    The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win: the first French debate was reportedly won by centrist Emmanuel Macron. For those who missed it, last night saw the first televised debate between the candidates. Those who tuned in may be feeling a little jaded as the debate ended up lasting a whopping three and a half hours. There were plenty of head to head moments between Macron and Le Pen in particular which included much finger pointing and also amusing bouts of sarcasm. Immigration was unsurprisingly a hot topic while the exchanges also moved over to the economy and various policy measures. The general feeling was certainly one of it being lively however. Markets were largely waiting for some sort of conclusion about who came out on top though and following the debate an Elabe poll (covering 1157 respondents) found that Macron was seen as the winner of the debate at 29% with Melenchon second with 20%. Fillon and Le Pen came in joint third at 19% and Hamon came in fifth at 11%. An Opinionway poll showed 25% for Macron; in both polls Fillon and Le Pen were tied at 19%.

    "From the point of view of international investors, this is a positive as it keeps France's position in the euro zone secure, or at least not weaker," said DZ Bank analyst Rene Albrecht.

    As a result, the average probability of Macron win implied from betting odds climbed 2ppts to over 63%...

    [​IMG]


    CIA, DOJ and Treasury Sued for Records on Intelligence Leaks Regarding Flynn Investigation
    Judicial Watch is suing the CIA for records on the investigation of Michael Flynn’s communications with the Russian Ambassador.
    Ad by Judicial Watch

    ... boosting the Euro and peripheral bonds while pressuing Bunds. It’s worth noting that there are another two debates to come prior to the first round election on April 23rd. It's also worth noting that Hillary Clinton was seen as the comfortable winner in all the US Presidential debates.

    Taking a cue from the debate polling which showed Macron as the most convincing, German bonds slid from the open, with French election risks seen waning. Losses extended in bunds after stronger-than-expected U.K. inflation data pressured gilts lower, with 10y U.K. yields climbing by around 6bps. MPC-dated SONIA rate jumps to price in almost one full hike by August 2018. The easing of French election risk has firmed rate-hike expectations for the ECB. Euribor strip has bear steepened from the open, with market pricing now showing over 20bps of rate increases priced by Sept. 2018. ECB rate expectations have seen the 5y sector on the German curve underperform, now cheaper by around 2bps on the 2s5s10s fly. French bonds meanwhile opened higher after the debate, with 10y yields dropping as much as 4bps. The move was quickly faded, as has been repeatedly observed in similar bouts of optimism around the French election. OATs now little changed.

    The biggest winner, however, was the Euro, which rose to just shy of 1.08, the strongest in more than a month.

    [​IMG]

    “When you consider how many people have been worried about this election and how cheap the euro is, if that risk were to go away then there’s the potential for money to flow into Europe,” said Andrew Sheets, chief cross-asset strategist at Morgan Stanley in London. “That would be another form of volatility. There’s always a risk of large moves when valuations are extreme -- and the euro is quite cheap.”

    The dollar index fell below 100 for the first time since early February and was down almost half a percent on the day. The currency was on the defensive after Chicago Federal Reserve President Charles Evans reinforced the perception that the U.S. central bank will not accelerate the pace of its interest rate hikes. He said on Monday that two more interest rate hikes this year were likely, disappointing investors who had anticipated rates would be increased more quickly. The greenback is on its longest losing streak since November after the Federal Reserve’s dovish message on the speed of monetary tightening last week.

    European stock markets opened higher after a rally in Asia, where MSCI's broadest index of Asia-Pacific shares outside Japan hit 21-month highs. U.S. stock futures pointed to a positive start for Wall Street, which had suffered on Monday as investors worried that President Donald Trump's plan to cut taxes and boost the economy would take longer than expected to realize. South Korea led gains among Asian emerging markets, with the Kospi jumping 1 percent to the highest since July 2011. Hyundai Motor Co. climbed 8.6 percent amid market speculation over a possible stake purchase by Elliott Management. The Stoxx Europe 600 Index added less than 0.1 percent at 9:48 a.m. in London. Banking stocks outperformed, led by Italian and French lenders, as worries over the French presidential election further abated. Mining stocks lost ground, trimming recent sharp gains. Futures on the S&P 500 rose 0.1 percent. The benchmark gauge fell 0.2 percent on Monday.

    The 10-year U.S. Treasury yield briefly fell to two-week lows following the comments to 2.461 percent. It last stood at 2.48%. Oil prices rallied on expectations that an OPEC-led production cut to prop up the market could be extended. Prices for front-month Brent crude futures LCOc1, the international benchmark for oil, gained 1 percent to $52.13 per barrel. OPEC members increasingly favor extending the output curb beyond June to balance the market, sources within the group said, although they added this would require non-OPEC members such as Russia to also step up their efforts.

    Elsewhere, Deutsche Bank was in focus as the subscription period for a capital raising began on Tuesday. Also today, Nike, FedEx, and General Mills are among companies scheduled to publish results

    * * *

    Bulletin Headline Summary from RanSquawk
    • Sentiment in Europe received a lift from the open as participants reacted to a perceived strong performance from Macron in last night's French presidential debate.
    • GBP ramps higher after inflation rises to the highest level since Sep'13
    • Looking ahead, focus will Canadian retail sales, API crude report as well as comments from Fed's George and Mester.
    Market Snapshot
    • S&P 500 futures up 0.2% to 2373.5
    • STOXX Europe 600 up less than 0.1% to 378
    • MXAP up 0.1% to 149
    • MXAPJ up 0.3% to 483.23
    • Nikkei down 0.3% to 19,455.88
    • Topix down 0.2% to 1,563.42
    • Hang Seng Index up 0.4% to 24,593.12
    • Shanghai Composite up 0.3% to 3,261.61
    • Sensex down 0.3% to 29,432.19
    • Australia S&P/ASX 200 down 0.07% to 5,774.62
    • Kospi up 1% to 2,178.38
    • German 10Y yield rose 2.8 bps to 0.468%
    • Euro up 0.5% to 1.0795 per US$
    • Brent Futures up 0.9% to $52.06/bbl
    • Italian 10Y yield rose 0.7 bps to 2.364%
    • Spanish 10Y yield fell 0.4 bps to 1.843%
    • Gold spot down 0.4% to $1,229.24
    • U.S. Dollar Index down 0.4% to 100.01
    Top Overnight News from BBG
    • PPG Said to Ready New Akzo Offer After Failed $22.4 Billion Bid
    • Fed’s Dudley Says Wells Fargo Shows Bank Culture Needs Improving
    • Google Overhauls Policies After Uproar Over YouTube Videos
    • Deutsche Bank Said to Face Regulatory Fines Over Currency Trades
    • Mideast Airlines Say New U.S. Restrictions Will Force Changes
    • BlackRock Likes Property Even After Yellen Calls Prices ‘High’
    • BMW Sees 2017 Profit Rising Slightly as Spending Exceeds Target
    • Banking Panel Senators Make Bipartisan Call for Growth Proposals
    • Baidu’s iQiyi Signs Pact With Warner Bros. on Movie Rights
    • Chevron Says New LNG Projects Unlikely in West Australia
    • NYSE Says It Has Identified, Fixed Cause of Arca Disruption
    In Asian Markets, the major equity indices traded somewhat mixed following a similar lead from Wall St., where financials underperformed and participants were indecisive amid a lack of tier-1 data releases. ASX 200 (-0.1%) was dampened by weakness in telecoms and underperformance in the financial sector, while Nikkei 225 (-0.4%) lagged on return from an extended weekend, although downside was stemmed as USD/JPY nursed losses. Elsewhere, Hang Seng (+0.3%) and Shanghai Comp. (+0.3%) were kept afloat following the continued liquidity operations by the PBoC which resulted in a 2nd day of net injections. Finally, 10 year JGBs traded higher amid a dampened risk tone in Japan and with the BoJ present in the market for a total JPY 1.15tIn of JGBs ranging from 1-10yr maturities. PBoC injected CNY 50bIn 7-day reverse repos, CNY 20bIn in 14-day reverse repos and CNY 10bIn in 28-day reverse repos

    Top Asian News
    • SoftBank Is Said to Invest in WeWork at $17 Billion Valuation
    • Downer Makes A$1.26 Billion Takeover Offer for Spotless
    • McDonald’s China Says It’s Not Affected by Ban on Brazil Meat
    • Billionaire Damani’s Avenue Supermarts Shares Double on Debut
    • Modi-Backed ETF May Fuel India Sales After $1.4 Billion Haul
    • China H Shares Rise to Highest Since 2015; Power Producers Gain
    • M1 Bids May Not Come Above S$2.20/Share, Religare’s Jin Says
    • India’s HPCL to Use Honeywell Clean-Fuel Technology
    • Freeport Indonesia Restarts Copper Concentrate Mill: Spokesman
    European risk sentiment received a lift from the open as participants reacted to a perceived strong performance from Macron in last night's French presidential debate. As such European equities opened higher, with Euro Stoxx 50 spending much of the session higher by around 0.5%. On a sector breakdown, financials are among the best performers as Deutsche Bank trades higher on the session after going ex-subscription to their capital raising plans. Elsewhere Akzo Nobel are among the best performers on a stock specific basis as M&A news continues to circulate, with pre-market reports today suggesting PPG is preparing a renewed takeover offer for the Co. The notable data of the session, came in the form of UK CPI, with the higher than exp. reading (Y/Y 2.3% vs. Exp. 2.1%) seeing gilts underperform and sending GBP/USD towards 1.2450. The GBP strength has further exacerbated pressure on the USD, with the USD-index slipping below 100, while the French presidential election saw EUR/USD touch 1.0800. Fixed income markets have been pressured by the aforementioned risk on sentiment, with Bunds down 35 ticks on the session, while OATs saw a paring of some of their initial losses in the wake of reports that PM Cazeneuve asked govt. members not to back Macron.

    Top European News
    • EU Makes U.K. Wait to Start Brexit Talks as Trigger Date Set
    • Macron on Top After First Debate of French Presidential Election
    • Porsche SE Posts Profit as Owner Clan Plans to Buy Out Piech
    • Swiss Watch Slump Extends Record Decline as U.S. Exports Slide
    • Fingerprint Cards Withdraws Dividend Plan as Revenue Plummets
    • Abertis Gives Information on Ruling on AP-7 Accounting Treatment
    • Swedish Casino Company Takes Breather From Deals to Drive Growth
    • Poland Needs Innovation to Catch Up With West, World Bank Says
    In currencies, the Bloomberg Dollar Spot Index slipped by 0.2 percent, following a 0.1 percent drop Tuesday. The euro was up by 0.5 percent at $1.0796, while it rose versus all of its G-10 peers. The British pound traded 0.7 percent higher after data showed U.K. inflation rose faster than expected. The main mover of the morning has been GBP, which had been trending higher ahead of the inflation report to trip above 1.2400. In the wake of the release, GBP continued its ascension after CPI beat expectations, subsequently stoking expectations that the overshoot will force the Bank of England to act through potentially hiking rates, as such, a 25bps hike is now fully priced in by Aug'18. Elsewhere, a reassuring performance from Macron in the first presidential TV debate has buoyed EUR, with the currency touching 1.08 against the greenback. RBA minutes from Mar 7th meeting stated that it judged steady policy was consistent with growth and inflation targets and that rising AUD/USD would complicate economic transition. RBA also stated that economic growth is to accelerate gradually to above potential over the next 2 years and higher commodity prices could last longer than first thought given the stronger global demand.

    In commodities, West Texas Intermediate oil climbed 0.8 percent to $48.60 before U.S. inventory data on Wednesday and as Libya prepared to restart crude shipments from major ports. Copper slumped 0.7 percent amid signs supplies are returning; disruptions caused the metal to surge last month to the highest level since 2015; prices slipped after reports that the union for workers on strike at the BHP Billiton Escondida copper mine held talks with the company and also coincided with a 4% drop in Dalian iron ore futures during Asian trade. Gold (-0.4%) prices pulled back from 2 week highs after four days of gains, while the softness in the USD index has supported oil prices with Brent futures above USD 52/bbl and WTI above USD 49/bbl ahead of the API inventories after market.

    Looking at the day ahead, in the US the diary remains sparse with just the Q4 current account balance reading expected. Away from the data this morning we are expected to hear from the Fed’s Dudley and BoE’s Carney at a bank ethics event in London, while this afternoon we are due to hear from the Fed’s George and then this evening the Fed’s Mester is due to speak. The EU finance ministers meeting will also continue in Brussels this morning.

    US Event Calendar
    • 8:30am: Current Account Balance, est. $129.0b deficit, prior $113.0b deficit
    Central Banks
    • 6:35am: Fed’s Dudley, BOE’s Carney Speak at Bank Ethics London Event
    • 12pm: Fed’s George Speaks in Washington on U.S. Economy and the Fed
    • 6pm: Fed’s Mester Speaks at University of Richmond
    • 9:45pm: Boston Fed Rosengren Speaks in Bali at Asia-Pacific Meeting
    DB's Jim Reid concludes the overnight wrap

    Will France wake up this morning feeling more confident about the upcoming Presidential race? Well last night saw the first televised debate between the candidates. Those who tuned in may be feeling a little jaded as the debate ended up lasting a whopping three and a half hours. There were plenty of head to head moments between Macron and Le Pen in particular which included much finger pointing and also amusing bouts of sarcasm. Immigration was unsurprisingly a hot topic while the exchanges also moved over to the economy and various policy measures. The general feeling was certainly one of it being lively however. Markets were largely waiting for some sort of conclusion about who came out on top though and following the debate an Elabe poll (covering 1157 respondents) found that Macron was seen as the winner of the debate at 29% with Melenchon second with 20%. Fillon and Le Pen came in joint third at 19% and Hamon came in fifth at 11%. It’s worth noting that there are another two debates to come prior to the first round election on April 23rd. It's also worth noting that Hillary Clinton was seen as the comfortable winner in all the US Presidential debates.

    Prior to the outcome from that poll the Euro did touch as low as 1.072 overnight versus the US Dollar but bounced post the news and hit a high of 1.078, or up just under half a percent with the market seemingly comforted that the debate failed to yield any further support to Le Pen’s chances. The Euro is now sitting at 1.076 as we go to print. Meanwhile equity markets are once again a bit mixed. Having been closed on Monday bourses in Japan are open again with the Nikkei currently -0.27%. The ASX (-0.16%) is also down however there are small gains for the Hang Seng (+0.31%), Shanghai Comp (+0.19%) and more notably the Kospi (+1.02%). US equity index futures are also up about +0.20% while Gold is -0.57% so suggesting a slightly more positive environment for risk at the margin this morning.

    While we’re on France, we thought it would be worth highlighting a report published by our colleagues yesterday in Europe summarising the results of their recently conducted global cross asset survey about investors’ views of asset returns one week after the French presidential election. They summarise that a Le Pen or a Left win is, perhaps unsurprisingly, strongly associated with Negative or Very Negative risk asset outcomes. A Centre win is mainly associated with Positive (but not Very Positive) outcomes, suggesting investors remain cautious about the economic environment, regardless of outcome. Many investors are neutrally positioned, but of non-neutral investors there is a distinct tilt towards long volatility and long hedges. A negative outcome is largely associated with high equity vol and sharp equity falls. In a positive outcome, the majority expectation is for limited equity upside only; however, we highlight a notable tail of expectations in the highly positive scenario, i.e. for very low vol and large equity upside. In rates the dominant expectation is for stable / higher yields regardless of election outcome. FX markets show a more bearish tilt, with EURUSD below parity in a negative outcome. In addition, upside is more limited – only 26% of respondents see EUR/USD above 1.10 in a positive outcome.

    Moving on. In what was an otherwise very quiet day for the most part yesterday, it was the chorus of Fedspeak which markets were most concentrated on. Of particular focus was the Chicago Fed’s Evans who made the case for the Fed hiking 2 or 3 more times this year. Evans also said that he expects inflation to hit 2% in 2018 and that things are “much more balanced around the outlook” than they were two years ago. The Philadelphia Fed President Harker also spoke and said that he expects the Fed to overshoot the 2% inflation target “a little bit” and that he would not rule out a faster or slower pace of hikes in 2017 than the three he has projected so far. Finally there was a much more dovish angle to the Fedspeak yesterday too with Minneapolis Fed President Kashkari also speaking. He said that “we do not have a high inflation threat right around the corner” and that ‘I’d be very surprised if core inflation reaches 2% this year”. He also said that “the data are basically moving sideways, so I’m asking, what’s the rush to raise rates”.

    Aside from the Fedspeak, there wasn’t a huge amount more for markets to feed off aside from some political related stories. The G-20 news from the weekend came and went however a lot of the focus was on the news that the FBI has confirmed that it is conducting a broad inquiry into a possible link between President Trump’s presidential campaign in 2016 and Russia. Meanwhile here in the UK we got the confirmation that PM Theresa May will trigger Article 50 on March 29th and so officially starting the clock on negotiations. The European Council President Donald Tusk confirmed that he will present the draft Brexit guidelines to the EU27 members states within 48 hours. It’s worth noting also that a provisional plan for the EU to hold a summit on April 6th to discuss early negotiation plans has been pushed back to late April/early May, all of which obviously eats into PM May’s negotiating time frame.

    Over in markets the end result of all the Fedspeak and various political related headlines was a very modest risk off start to the week. The S&P 500 ended -0.20% by the closing bell and so confirming a third consecutive daily decline following last Wednesday’s big post-FOMC rally. The Stoxx 600 (-0.17%) was down a similar amount and fell for the first time since last Tuesday. The exception was once again in EM however where the MSCI EM index (+0.70%) rose for the seventh consecutive session. In government bonds 10y Treasury yields dipped 4bps to 2.462% and are now down to the lowest yield since March 6th having touched an intraday high of 2.628% a week ago. In Europe bond markets didn’t really do much although Greek bonds were a bit weaker after Eurogroup head Jeroen Dijsselbloem said at a finance minister’s meeting that “some key issues” still remain to be sorted out between Greece and its creditors and that talks will continue and intensify in coming days.

    Moving on. Yesterday’s data was fairly thin on the ground. In the US the sole release was the Chicago Fed national activity index which came in at a better than expected 0.34 in February (vs. 0.03 expected) and in doing so has pushed the three-month average up to 0.24 which is the highest since December 2014. In Germany PPI was reported as rising +0.2% mom in February which was a little less than expected. Meanwhile in the UK the Rightmove index of house prices showed prices as stable at +2.3% yoy in March. The other data concerned the latest weekly ECB CSPP holdings where the average daily run rate last week of €363m more or less matched the average €367m since the program started.

    Looking at the day ahead, this morning in Europe the focus will be on the UK where we will get the February CPI/RPI/PPI data (with headline CPI expected come in at +0.5% mom and headline RPI at +0.8% mom). We will also get the February public sector net borrowing data in the UK and then the March CBI industrial trends survey. This afternoon in the US the diary remains sparse with just the Q4 current account balance reading expected. Away from the data this morning we are expected to hear from the Fed’s Dudley and BoE’s Carney at a bank ethics event in London, while this afternoon we are due to hear from the Fed’s George and then this evening the Fed’s Mester is due to speak. The EU finance ministers meeting will also continue in Brussels this morning.

    http://www.zerohedge.com/news/2017-...-6-week-high-after-french-presidential-debate
     
  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Frontrunning: March 21

    [​IMG]
    by Tyler Durden
    Mar 21, 2017 7:49 AM

    • Gorsuch Strives to Present Himself as Above Political Fray (WSJ)
    • Investigation Could Hurt Trump’s Clout in Congress (WSJ)
    • U.S. to Ban Laptops and Tablets in Cabins of Some Mideast Flights (BBG)
    • Tillerson no-show at NATO renews European disquiet about Trump (Reuters)
    • Don’t Blame Your Social Media Feed for the Growing Political Divide (BBG)
    • High-Frequency Traders Fall on Hard Times (WSJ)
    • Senate GOP Holdouts Split Into Rival Camps on Health Revamp (BBG)
    • California’s Wet Winter Points to Some Sorry-Looking Salads (WSJ)
    • Exclusive: Trump administration weighing broad sanctions on North Korea (Reuters)
    • U.K. Inflation Gains More Than Forecast, Breaching BOE Goal (BBG)
    • French presidential debate lifts euro to six-week highs (Reuters)
    • Shell’s Titanic Bet: Can Deep-Water Drilling Be Done on the Cheap? (WSJ)
    • Meet the 13 Million Nerds That Apple's Counting On (BBG)
    • Macron on Top After First Debate of French Presidential Election (BBG)
    • Rookie Currency Traders Are Causing Trouble at Crucial Moments (BBG)
    • Two in Five Americans Say They’ll Need $1 Million to Retire (BBG)
    • Porsche SE has no information about Piech's stake sale talksa (Reuters)
    • What the Biggest Banks Are Planning Once Brexit Starts (BBG)
    • Merkel ally says Turkey's Erdogan 'not welcome' in Germany (Reuters)


    Overnight Media Digest

    WSJ

    - SoftBank Group Corp scrapped a planned $100 million investment in a smartphone startup founded by the creator of Google's Android software, partly because of the Japanese investor's increasingly close relationship with Apple Inc, according to people familiar with the matter. http://on.wsj.com/2mOznOV

    - Costco Wholesale Corp, which improbably caused a frenzy in the golf world when it started selling low-priced but well-reviewed balls last year, filed a lawsuit against the parent company for Titleist, maker of the self-proclaimed "number one ball in golf." http://on.wsj.com/2mOzxpv


    CIA, DOJ and Treasury Sued for Records on Intelligence Leaks Regarding Flynn Investigation

    Ad by Judicial Watch

    - Vodafone Group Plc said it would merge its embattled Indian business with a local rival, a $24 billion move that would create India's largest wireless company and could strengthen the British telecommunication company's standing in a cutthroat market. http://on.wsj.com/2mOImzj

    - A rift between Political-news outlet Politico's co-founder and chief executive, Jim VandeHei, and its owner, Robert Allbritton, over its direction triggered VandeHei's abrupt departure, along with those of star reporter Mike Allen and three top executives. VandeHei warned various executives that a wave of additional exits might follow, two people familiar with the matter say. http://on.wsj.com/2mOMOyk

    - An executive for Alphabet Inc's Google apologized for commercials that appeared before extremist videos on its YouTube site and said it would simplify tools that enable advertisers to control where their ads appear. http://on.wsj.com/2mOzp9q

    - Alternative Bank Schweiz AG, the first Swiss bank to require all depositors to pay to leave money with it, posted a jump in 2016 profit, suggesting the strategy is working. http://on.wsj.com/2mONOT0

    - Honda Motor Co's U.S. unit said in January it would shift its more-than-$500-million media-buying account from Mediavest Spark, a unit of advertising giant Publicis Groupe , to an independent agency. http://on.wsj.com/2mOKhUL

    - Qualcomm Inc is introducing a new product designed to bring faster wireless service to basic, lower-priced cellphones in emerging markets, an attempt to bolster the chip giant's reach among consumers who can't afford smartphones. http://on.wsj.com/2mOtDVq



    FT

    * Uber is facing a new legal challenge in London's high court over its payment of value added tax.

    * Jeremy Fleming, the deputy director general of Britain's internal security service, will become the new head of intelligence eavesdropping service GCHQ.

    * Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country's biggest telecoms business after the entry of a new rival sparked a brutal price war.

    * Hedge fund Elliott Management Corp, which is in the throes of a proxy battle with Arconic Inc, demanded on Monday an independent review of the company's voting agreement with private equity firm Oak Hill Capital Partners.

    * Google apologised on Monday for allowing ads to appear alongside offensive videos on YouTube as more high-profile firms such as Marks & Spencer and HSBC pulled advertising for British markets from Google sites.



    NYT

    - Walmart is expanding its e-commerce ambitions, and has tapped a Jet executive to help it build new start-ups within the company. Walmart announced on Monday that it had formed Store No 8, an internal venture meant to hatch new online retail businesses. http://nyti.ms/2nEN1YG

    - Bank of America has poached a top rainmaker for financial services companies from Morgan Stanley. Eric Bischof, who helped advise the Federal Reserve Bank of New York on matters related to the American International Group, will join Bank of America as co-head of its global financial institutions group, serving alongside Jim O'Neil in New York. http://nyti.ms/2mK8PNX

    - The British government said on Monday that it intended to formally notify the European Union on March 29 of its intention to leave the bloc, putting the country on track to complete a withdrawal by early 2019. http://nyti.ms/2mK7EOp



    Canada

    THE GLOBE AND MAIL

    ** Wednesday's federal Liberal budget won't announce plans to sell off Canada's major airports, even though such a move could raise billions in one-time revenue for a government that has little room left for new spending. https://tgam.ca/2nhJDSR

    ** Rogers Communications Inc paid its outgoing CEO Guy Laurence a total of C$42.6 million ($32 million) for his three years with the company, according to a financial filing. https://tgam.ca/2nFSvT4

    ** Alberta's Wildrose Party, which serves as the Official Opposition, has agreed to negotiate a reunification deal with the province's Progressive Conservatives, with both pledging not to dominate the talks as they kick off a polite power struggle. https://tgam.ca/2nhUrAd

    NATIONAL POST

    ** Canada's biggest banks will be among the first to use a digital identity network powered by blockchain when Toronto-based SecureKey Technologies — in partnership with IBM — launches it later this year. http://bit.ly/2nfAhXA

    ** Alberta Finance Minister Joe Ceci heard pointed criticism of his government's C$10.3 billion ($7.73 billion) budget deficit and rapidly rising debt levels Monday as he tried to allay the business community's concerns about the province's fiscal plan at a Calgary Chamber of Commerce breakfast. http://bit.ly/2nNlnFQ

    ** The EU is worried about a protectionist U.S. White House that appears to see trade as a game that some countries win and others lose. EU Trade Commissioner Cecilia Malmstrom told a meeting at the University of Toronto on Monday that trade agreements create benefits by lowering consumer prices and creating more jobs. http://bit.ly/2mLcNWl



    Britain

    The Times

    Nearly 15 years after Tesco Plc bought One Stop it is still paying staff at the convenience chain less and charging customers more for products than in its Tesco Express outlets. http://bit.ly/2n7PSIf

    Aberdeen Asset Management Plc and Standard Life have given more details about how the joint chief executives of the enlarged business will split their roles in an attempt to head off investors' concern. http://bit.ly/2n84RlB

    The Guardian

    HSBC Holdings Plc , the Royal Bank of Scotland Plc , Lloyds Banking Group Plc , Barclays Plc and Coutts are among 17 banks based in the UK, or with branches here, that are facing questions over vast money-laundering operation run by Russian criminals with links to the Russian government and the KGB. http://bit.ly/2n7GFQ8

    Theresa May has informed the European council that she will trigger article 50 on Wednesday 29 March, but European sources have made clear that Britain could be forced to wait until June to embark on formal talks. http://bit.ly/2n7KYei

    The Telegraph

    Arcadia Group chairman Philip Green "prioritised his loyal senior managers" with his 363 million pounds ($449.21 million)deal to help plug the BHS pension black hole, MPs scrutinising the agreement have concluded. http://on.wsj.com/2n7StSN

    Sports Direct International Plc has lost a trademark battle against a small online business despite claiming that the company, run by a husband and wife team, would confuse consumers about its burgeoning gym business. http://bit.ly/2n7QjSU

    Sky News

    Japan Tobacco International (JTI) and Imperial Brands Plc are examining whether to pump tens of millions of pounds into P&H in return for an equity stake. http://bit.ly/2n1fbtW

    George Osborne has defended his shock appointment as the new London Evening Standard editor after facing criticism for saying he will stay on as an MP while also heading up the newspaper from this May. http://bit.ly/2n7GzrT

    The Independent

    UK's ambassador to Europe Tim Barrow has warned that the EU will push for Britain to pay a hefty Brexit "divorce bill" after Theresa May triggers Article 50 on March 29. http://ind.pn/2n7O8yM

    http://www.zerohedge.com/news/2017-03-21/frontrunning-march-21
     
  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    DB - Opening Bell: 3.21.17
    http://dealbreaker.com/2017/03/opening-bell-3-21-17/

    Naked Capitalism Links 03/21
    http://www.nakedcapitalism.com/2017/03/links-32117.html

    SA - Market News Live Feed 03/21
    http://seekingalpha.com/market-news

    CWS - Morning News: March 21, 2017
    http://www.crossingwallstreet.com/archives/2017/03/morning-news-march-21-2017.html

    RR - Bond Markets, Bubbles, Rookies and Lawbreakers 03/21
    https://www.bloomberg.com/view/articles/2017-03-21/bond-markets-bubbles-rookies-and-lawbreakers

    SA - Wall Street Breakfast: YouTube Controversy Shakes Up Advertising 03/21

    MtM - Euro Recovery Continues, Posts New Six Week High; Other Currencies Mixed 03/21
    http://www.marctomarket.com/#!/2017/03/euro-recovery-continues-posts-new-six.html
     
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Gold and Silver Market Morning: Mar 21 2017 - Gold still consolidating at higher levels!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
    Turning back to the G-20 statement we note that the G-20 maintained its call for competitive devaluations and FX market instability to be avoided. While it goes against brazen devaluations for the sake of gaining competitive advantage, protectionism will alter trade balances, which will affect exchange rates. Behind such international plays, nations do attempt to keep their exchange rates low and lower. So while brazen currency wars are to be avoided, they will continue indirectly.
     
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Rogue Mornings with "V" & CJ - Dying Globalists, "Russian Connections" & #PedoGate (03/21/2017)
    ROGUE MONEY



    Streamed live 2 hours ago
    "V" and CJ breakdown the death of globalist DR, dems attempts to paint the administration of having "Russian Connections" and update on the most recent arrests in #PedoGate.

    We are political scientists, editorial engineers, and radio show developers drawn together by a shared vision of bringing real news through digital mediums that evangelize our civil liberties.

    Please subscribe for the latest shows daily!

    http://www.roguemoney.net
    https://www.facebook.com/ROGUEMONEY.NET/
    https://twitter.com/theroguemoney


     
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Shipping & Energy 03/21:

    Peak Oil Review: Mar 20 2017
    http://www.resilience.org/stories/2017-03-20/peak-oil-review-mar-20-2017/

    Rotary and Workover Rig Counts
    http://www.wtrg.com/rotaryrigs.html

    Visualizing The World’s Deepest Oil Well
    http://www.visualcapitalist.com/visualizing-worlds-deepest-oil-well/

    Oil And Gas States Forced To Cut Education Spending
    http://oilprice.com/Energy/Oil-Prices/Oil-And-Gas-States-Forced-To-Cut-Education-Spending.html

    Saudi Crude Output Cuts In January Bring Exports Down 3.8 Percent
    http://oilprice.com/Latest-Energy-N...In-January-Bring-Exports-Down-38-Percent.html

    Oil ends lower as rising U.S. rig count, G-20 statement unnerves
    http://www.marketwatch.com/story/oi...cks-on-anti-protectionist-language-2017-03-20

    Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts
    https://www.bloomberg.com/news/arti...-49-as-u-s-rig-gain-counters-opec-output-cuts

    Rival Drilling Tycoons Place Bets on Offshore Oil Rig Recovery
    http://gcaptain.com/rival-drilling-tycoons-place-bets-offshore-oil-rig-recovery/

    Drillship Walkthrough: See What It’s Like Inside an Ultra-Deepwater Drill Rig [VIDEO]
    http://gcaptain.com/drillship-walkthrough-heres-like-inside-ultra-deepwater-drill-rig-video/

    The Importance Of U.S. Oil And Natural Gas Exports
    https://www.forbes.com/sites/judecl...u-s-oil-and-natural-gas-exports/#548a1b88b952

    DNV GL Maritime Academy News March/April 2017
    http://www.allaboutshipping.co.uk/2017/03/20/dnv-gl-maritime-academy-news-marchapril-2017/

    RMI Registry Moves to 2nd Place in Dwt Terms
    http://worldmaritimenews.com/archives/215706/rmi-registry-moves-to-2nd-place-in-dwt-terms/

    Maersk draws the line at bribes
    http://cphpost.dk/news/business/maersk-draws-the-line-at-bribes.html

    Baltic Dry Index falls to 1200, down 5 points
    http://www.hellenicshippingnews.com/baltic-dry-index-falls-to-1200-down-5-points/

    Dry Bulk FFA: Capesize Market Starts Week on “Slow Mode”
    http://www.hellenicshippingnews.com/dry-bulk-ffa-capesize-market-starts-week-on-slow-mode/

    Bulkcarrier Fleet Growth In Limbo?
    http://www.maritimeprofessional.com/news/bulkcarrier-fleet-growth-limbo-303299

    Dockers' union calls off global action after Spanish MPs reject port reforms
    http://theloadstar.co.uk/dockers-un...tion-spanish-parliament-rejects-port-reforms/

    Asia-Europe shippers 'over a barrel' as carriers use capacity crunch to hike rates
    http://theloadstar.co.uk/asia-europe-shippers-barrel-carriers-use-capacity-crunch-hike-rates/

    Analysis: breathing is harder for box lines as they climb higher debt mountains
    http://theloadstar.co.uk/analysis-debt-mountain-cma-cgm-hapag-lloyd-zim/

    Live International Companies’ Shipping Stocks
    http://www.hellenicshippingnews.com/live-international-shipping-stocks/
     
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  25. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  26. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Could China Push Metals Higher? Dollar Weakness & SGE
    Junius Maltby



    Published on Mar 20, 2017
    JUNIUS MALTBY CHANNEL Discussion on current news regarding the dollar, China, SGE, and GOLD.
     
  27. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    COMEX Investor Arthur Ridley Blames Youtube Stackers
    Junius Maltby



    Published on Mar 21, 2017
    Exclusive interview with Sir Arthur Ridley (at least I think he was knighted not sure). Mr. Ridley is perhaps one of the most influential individuals when it comes to determining the prices of precious metals on a daily basis. This interview sheds a little light into how he goes about determining that price and how it is set with other banks during the secretive "phone calls". Buckle up.
     
  28. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  29. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  30. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Stocks Sink! Gold Silver Pop, Dollar Down, Fed Speak
    Junius Maltby



    Published on Mar 21, 2017
    Quick look at news of the day with JUNIUS MALTBY CHANNEL.
     
  31. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  33. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Doug Casey-High Unemployment & High Inflation Coming Buy Gold
    Greg Hunter



    Published on Mar 21, 2017
    What is this going to look like to the man on the street when the economy melts down again? Financial expert Doug Casey says, “The country has been living way above its means. The U.S. runs about a trillion dollar trade deficit with the rest of the world, but it’s a great deal for us. The U.S. prints up dollars and we ship them dollars, and they send us Sonys and Mercedes and coffee and all sorts of things imported into this country, but that can’t go on forever. So, what’s it going to look like? It will be very high levels of inflation. In 2007 to 2009, people lost their jobs. When a society is living above its means, people like waiters and bartenders . . . they’re fired because people are going to have to do those things for themselves. So, you are going to see lots of unemployment. There could be a lot of social upsets in this country.”

    What about gold and silver? Casey says, “A number of governments around the world, not the U.S. but the Russians and the Chinese, are buying a lot of gold. Why? Because it’s the only financial asset that is not simultaneously somebody else’s liability. It doesn’t matter whether we have runaway inflation or catastrophic deflation, the gold is there. It’s an actual asset unlike the paper governments’ print up. There is no point in owning paper today because interest rates are so low. Interest rates are below the level of actual inflation at this point. People should buy gold and they should buy silver. . . . They’re going to both go up. I’ll say this again, gold and silver are the only assets that are not simultaneously someone else’s liability. So, there is going to be a panic into them at some point, and some point soon I think.”

    Join Greg Hunter as he goes One-On-One with financial expert Doug Casey and the best-selling author of his new novel called “Speculator.”

    All links can be found on USAWatchdog.com: http://usawatchdog.com/financial-coll...

    http://usawatchdog.com/donations/
     
  34. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Global Stocks Tumble; Gold, Safe Havens Jump On Doubts Trump Tax Cuts Will Pass

    [​IMG]
    by Tyler Durden
    Mar 22, 2017 6:51 AM

    "Warning! US equities can occasionally go down as well as up a lot."

    That's how Deutsche Bank's Jim Reid begins his morning wrap note, and sure enough after months of warnings that the market has gotten way ahead of itself in pricing in the success of Trump's various domestic policies (confused? read last week's preview of just this event occurring from JPM), global markets are waking up to a sea of red as the US risk rout spreads, leading to a slide in European stocks for the third consecutive day led by banks and miners, Asian markets suffering their worst day of the year, and S&P 500 futures pointing to a modestly lower open again as the yen and gold rise.

    The catalyst, it will come as no surprise, is the end of the Trump rally which yesterday finally ended with a bang, not a whimper, as investors questioned the U.S. president’s ability to enact his pro-growth policies, casting doubt on the so-called reflation trade. Equities dropped across the globe as safe-haven assets advanced. A rally in government bonds continued and gold and the yen both extended gains. Base metals tumbled, with iron ore approaching a bear market. Investors’ flight to safety pushed down U.S. Treasury yields. The closely watched gap between U.S. and German 10-year yields touched its narrowest since November at around 195 basis points. German 10-year yields fell further and were last down 4.8 basis points at 0.41 percent.

    "Market participants are worried about the effects and feasibility of Donald Trump's growth program," DZ Bank strategist Birgit Figge said.

    [​IMG]


    As noted last night, bank and commodity shares led the selloff as the benchmark index in Europe fell a third day, following markets in Asia. Futures on the S&P 500, down 3% as of 6:15am ET, showed the broad US stock market index to extend its decline from Tuesday, when it sank more than 1% for the first time since October. Emerging-market stocks halted an eight-day winning streak.

    [​IMG]

    The dollar touched a four-month low against the Japanese currency, whose strength helped push Tokyo stocks to a three-week low, while the euro held close to its highest since early February at around $1.08.

    As Bloomberg puts it, "volatility in financial markets is soaring after a period of relative calm as concern mounts that Donald Trump’s flagship policies, which have underpinned a global rally since his election, won’t sail through Congress." Attention will next turn to Thursday’s crucial vote on the plan to repeal and replace Obamacare; top Republicans have warned failure to pass the health-care bill could imperil tax and spending reforms.

    “This bill has wide implications for President Trump’s plans for the U.S. economy as it is due to reduce government spending, with the freed up funds being used for the proposed tax cuts/reform and infrastructure spending” Rabobank wrote in a note to clients.

    Societe Generale currency strategist Alvin Tan, in London, said an FBI investigation into possible ties between Trump's campaign and Russia was also adding to investor worries. "All in all, that’s adding to a picture that the much hoped-for and hyped fiscal stimulus package may not be coming as soon as markets would like it to come, if at all," he said.

    The dollar swung between gains and losses as a slump in stock markets spurred haven demand for the yen, while investors reduced their exposure. Risk aversion was evident in both the spot and options markets: dollar-yen was lower a seventh day, set for its longest losing streak in two months, while bearish sentiment as expressed through risk reversals touched its strongest level in six weeks. Aussie-yen, a common risk barometer, was lower by the most in three months on a two-day basis.

    Refuge seeking amid equities tumble and the possibility that President Donald Trump’s fiscal policies will be delayed until Autumn didn’t result in a sharp drop for the greenback. According to Europe-based traders, quoted by BLoomberg, opposing market forces kept the greenback in consolidation mode. Some investors were seen cutting back on their longs given the currency’s latest weakness while others, mainly short-term accounts and fast-money names, faded the latest dip. The greenback as measured by the Dollar Index may be due for a rebound, a relief one at least. DeMark’s TD Sequential points to a recovery as a Buy Countdown was completed on March 17 while Wednesday price action also satisfies a Buy Setup series.

    Meanwhile, in equities, the MSCI Asia Pacific Index dropped 1.4 percent as benchmark indexes in Tokyo and Sydney slid the most since Trump’s election. Japan’s Topix lost 2.1 percent as the yen rose for a seventh day, touching the highest since November. A measure of Chinese shares traded in Hong Kong lost 1.8 percent after closing at the highest in almost 17 months on Tuesday. Japanese stocks fell 2 percent, Australian shares tumbled 1.6 percent and mainland Chinese shares closed down 0.5 percent. MSCI's main measure of emerging market equities slid nearly 1 percent.

    In Europe, the MSCI Emerging Market Index fell 1 percent in its first retreat in almost two weeks. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.4 percent at one point, its biggest intraday percentage fall since Dec. 15. In the previous session, the index hit its highest level since June 2015.

    The Stoxx Europe 600 Index dropped 0.8 percent as of 9:51 a.m. in London, the biggest decrease in a month. The European STOXX 600 index fell 0.9% to a two-week low, led lower by banks and miners. Britain's FTSE 100 index fell 0.9 percent.

    E-mini futures on the S&P500 and Dow Jones Industrial Average indicated Wall Street would open lower and the CBOE VIX index topped 13 percent for the first time since mid-January.

    "Alongside this, speculation is persisting ... that the ECB may possibly scale back its ultra-expansionary policy stance to some extent at an earlier point in time than is currently being assumed."

    Gold hit a three-week peak of $1,248.47 and last traded up 0.2 percent at $1,247 an ounce. It has rallied almost $50 from last Wednesday's low after a less hawkish policy statement than many investors had expected from the U.S. Federal Reserve. Waning risk appetite also hit commodities: Brent crude oil fell 20 cents to $50.76 a barrel, while copper fell 0.5 percent to $5.747 a ton.

    Bulletin Headline Summary from RanSquawk
    • Risk off tone across EU bourses with stocks led lower by softness in financial and commodity names
    • JPY remaining firm against its major counterparts as USD/JPY touches 4-month lows
    • Looking ahead, highlights include US existing home sales and DoE Crude Oil Report
    Market Snapshot
    • S&P 500 futures down 0.1% to 2,339.5
    • Stoxx Europe 600 down 0.9% to 372.29
    • MXAP down 1.4% to 147.11
    • MXAPJ down 1.2% to 477.10
    • Nikkei down 2.1% to 19,041.38
    • Topix down 2.1% to 1,530.20
    • Hang Seng Index down 1.1% to 24,320.41
    • Shanghai Composite down 0.5% to 3,245.22
    • Sensex down 0.7% to 29,275.30
    • Australia S&P/ASX 200 down 1.6% to 5,684.51
    • Kospi down 0.5% to 2,168.30
    • German 10Y yield fell 3.8 bps to 0.421%
    • Euro down 0.1% to 1.0796 per US$
    • Brent Futures down 0.7% to $50.63/bbl
    • Italian 10Y yield fell 4.5 bps to 2.319%
    • Spanish 10Y yield fell 4.8 bps to 1.767%
    • Brent Futures down 0.7% to $50.63/bbl
    • Gold spot up 0.3% to $1,248.02
    • U.S. Dollar Index down 0.02% to 99.79
    Top Overnight News from RanSquawk
    • Akzo Nobel Rejects PPG’s Sweetened, $24 Billion Takeover Bid
    • Nike Gives Doubters Fresh Ammunition as Sales Miss Estimates
    • FedEx Sees Rebound in Ground Unit as E-Commerce Fuels Expansion
    • Takata Said to Be Ready to Let Carmakers Decide on Revamp
    • Blackrock Reports New Stakes in Nintendo, 12 Others; Raises Sony
    • Bats Indexes to Measure Brexit Impact on U.K. Companies
    • Movado CFO Says Watchmaker in Talks to Reduce Swiss Job Cuts
    • Galapagos Starts Phase 1 Study With Cystic Fibrosis Potentiator
    • Indonesia to Own Majority Stake in Local Freeport Unit 2019
    • Gemalto Warning on U.S. Payment Business Drags Down Ingenico
    • Amazon’s Alexa Takes Its Fight With Siri to Marriott Hotel Rooms
    • Billionaire Lifts Stake in L.A. Times Publisher, Exits Board
    • Meredith Boosts 3Q EPS View on Strong Advertising
    • Novartis Heart Medicine Fails in Late-Stage Clinical Trial
    • Apple May Invest in China Phone Apps Besides Didi: Caixin
    • Sun Basket Said to Hire BofA, Jefferies for IPO: Reuters
    Asian equity markets traded negative as the downbeat tone rolled over from the US where stocks posted their worst day YTD amid a slump in financials. ASX 200 (-1.6%) suffered from the weak financial sector as well as declines in commodities, while Nikkei 225 (-2.1%) underperformed amid a firmer currency with USD/JPY below the 112.00 handle. Elsewhere, Hang Seng (-1.2%) and Shanghai Comp. (-0.5%) conformed to the negative tone with earnings in focus, despite the PBoC's efforts to inject liquidity. Finally, 10yr JGBs traded higher as they benefited from safe-haven flows, with support also seen following a well-received 40yr bond auction. PBoC injected CNY 50bIn 7-day reverse repos, CNY 20bIn in 14-day reverse repos and CNY 20bIn in 28-day reverse repos PBoC set CNY mid-point at 6.8889. BoJ minutes from January 30th-31st meeting stated that Japan's economy continues its moderate recovery trend and that most members agreed that price momentum is not firm yet. The minutes stated that exports picked up led by auto-related exports and that industrial production picked up reflecting moderate increase in demand at home and abroad, while 1 member suggested the BoJ should accommodate rising yields.

    Top Asian News
    • PBOC Injects Funds for Third Day After Money-Market Rates Climb
    • China Shadow Banks Squeezed by Record Premium for One-Week Cash
    • Japanese Exports Jump Most in Two Years, Led by Sales to China
    • Asia Trade Talks Chief Warns Against Turning Pact Into New TPP
    • China H Shares Join Regional Selloff to Fall the Most This Year
    • MediaTek Cuts 1Q Operating Profit Forecast, Raises Pretax View
    • PHP Falls Before BSP Meeting as INR, TWD Consolidate: Asian NDFs
    European equity indices are down an average of 0.8% in early trade as risk off sentiment bites. The financial and materials sector are the amongst the worst performers with the latter being hit by poor performing commodities prices today. In equity specific news, Gemalto (GTO NA) are by far the worst performer this morning, down 22% after the Co. downgraded its forecasts for both profit and revenue. Fixed Income markets have benefitted from the aforementioned risk off sentiment as bunds now trade and are approaching the 160.46 resistance level. In line with this price action the USD 10yr yield is also falling down to 2.40% ahead of the 2.30% base which was noted in Feb and Jan this year.

    Top European News
    • Goldman, Morgan Stanley Signal London Job Moves as Brexit Looms
    • Hermes 2016 Profit Climbs on Handbag Sales, Europe Growth (1)
    • Warburg to Buy Stake in Swiss Banking Software Maker Avaloq
    • BBVA Completes Acquisition of Additional Garanti Stake
    In currencies, the Bloomberg Dollar Spot Index rose 0.1 percent in its first advance in more than a week. The British pound fell 0.2 percent. The euro decreased 0.3 percent to $1.0783. The Japanese yen rose 0.4 percent to 111.26 per dollar, hitting the strongest in almost four months with its seventh straight advance. USD/JPY broke through 111.60 as stock markets in the US sold off yesterday, subsequently spurring safe haven flow back into the JPY. Today we get the latest from the RBNZ with rates expected to remain at all-time lows, the key note for today will be the tone of the accompanying statement. The market will be looking for clues regarding the future path of policy but this is also expected to be neutral. Commodities currency have been hit in general with morning in line with both copper and oil, USD/CAD has retraced some of its recent losses and is looking to test 1.34. AUD/USD rejected the 0.7740 area which had been tested on the 23rd Feb and the next significant area of support is the psychological 0.76 level.

    In commodities, the big mover was gold which pushed firmly through the USD 1245/oz resistance level with the next resistance higher up at the 27th Feb high of roughly USD 1263/oz. WTI and Brent crude trade near session lows amid no real fundamental data but today we look out for the DOE inventory levels after the API's produced a build of 4529k barrels. Copper is looking heavy after a poor day yesterday the next level of support on the downside USD 2.552 after US policy doubts loom.

    Looking at the day ahead, the calendar is again fairly sparse today. There is nothing of note in the European session this morning while in the US we’ll get the January FHFA house price index reading followed then by the February existing home sales data. Away from the data the ECB’s Villeroy and Lautenschlaeger are both scheduled to speak this morning. The EIA weekly crude oil inventory report is also due out.

    US Event Calendar
    • 7am: MBA Mortgage Applications, prior 3.1%
    • 9am: FHFA House Price Index MoM, est. 0.4%, prior 0.4%
    • 10am: Existing Home Sales, est. 5.55m, prior 5.69m
    • 10am: Existing Home Sales MoM, est. -2.46%, prior 3.3%
    DB's Jim Reid concludes the overnight wrap

    Warning! US equities can occasionally go down as well as up a lot. Yesterday actually saw the fourth consecutive daily decline for the S&P 500 and the first > -1% down day since October 11th after the index tumbled -1.24%. It was a streak which lasted 109 days and fell just short of the 110 day streak in 1995. For those interested, there have only been 8 instances of a longer run than the one that just ended with the longest being 184 days set all the way back in 1963. There didn't seem to be one overriding issue for the market but US banks were weak (-3.86%) on lower yields and perhaps a relatively measured update from Morgan Stanley. The sector had its worst day since June 27th . Stretched valuations were also cited as a factor while markets were also concerned about the increasingly fractious health care debate in the US with a bill struggling to get the numbers to pass at the moment. This in turn leaves the market wondering about the efficacy and timing of tax reform plans supposedly coming over the coming months. The noise over the FBI probe into Trump and possible Russian connections isn't helping and neither is the bad run for oil with yesterday seeing the tenth fall in twelve days with WTI tumbling -1.82% to $47.34/bbl. That is the lowest closing price since November 29th.

    Just on the health care bill quickly, it was House Freedom Caucus Chairman Mark Meadows who said that “currently there are not enough votes to pass the legalisation” after House conservatives were said to have not gotten the changes that they were demanding. The House is expected to vote on the repeal of Obamacare on Thursday and President Trump fired back at those critics yesterday by telling lawmakers that “the danger of your not voting for the bill is people could lose their seats”. Losing more than 21 Republican lawmakers through the 435-seat House is likely to result in the bill not getting through, assuming all Democrats vote against. So it’s one to watch given the potential implications for other reforms further down the line.

    It’s worth highlighting that our US economists do think that the health care reform will pass however. They highlight that while there is some concern that the Freedom Caucus, a group of roughly 40 House conservatives who have not endorsed the bill, may indeed block, this is a low probability event. Since much of the Trump agenda rests on the ability of the Republicans to pass healthcare reform, its failure would seriously dent the party’s political capital and imperil other legislative actions. For this reason, they expect Republicans to ultimately come together, even in the Senate, with the contours of the health care act to take shape before April 6th.

    Meanwhile, adding to the string of risk-off news and helping to push the selloff into the US close was a Reuters article suggesting that North Korea is to pursue an “acceleration” of its nuclear and missile programs. This is said to include a “preemptive first-strike capability”. The article also cited a US official in Washington as saying that Trump is considering sweeping sanctions to counter North Korea’s nuclear threat.

    Back to markets where, as well as that fall for the S&P, the Dow closed last night -1.14% and fell to its lowest level since February 17th. The Russell 2000 index also tumbled -2.71% and had its worst day since September 9th. That index is now actually into negative territory YTD (-0.78%) which seems hard to believe given the optimism that has prevailed in 2017. In contrast the MSCI EM index closed up a very modest +0.08% yesterday, but still finished higher for the eighth consecutive session. This morning in Asia the risk off tone has continued with heavy falls across most major bourses including the Nikkei (-1.82%), Hang Seng (-1.16%), Shanghai Comp (-0.46%), Kospi (-0.67%) and ASX (-1.35%).

    Credit markets also got swept up in the selloff yesterday in the US with CDX IG 1.3bps wider and CDX HY 9bps wider. Those moves came despite a backdrop of falling Treasury yields. The 10y dropped 4.3bps to 2.418% and has now fallen at least 4bps in each of the last 3 sessions. In fact the 10y is now trading at the lowest yield since March 1st. In FX the USD index (-0.59%) fell for the fourth time in the last five sessions and closed below 100 for the first time since February 6th. Elsewhere in commodities, Iron Ore (-4.26%) suffered its biggest one-day fall since December 14th while Copper (-1.77%) and Zinc (-1.22%) also fell sharply.

    Gold (+0.86%) was the clear outlier benefiting from a safe haven bid.

    Over in Europe yesterday equity markets were much more of a tale of two halves. Sentiment was generally positive for the most part in the morning session and into the early afternoon before the US led markets lower into the close. The Stoxx 600 finished -0.53% having been up as much as +0.40%. There was a similar pattern in credit with iTraxx Main finishing unchanged on the day but trading in a 2.5bp range after doing a roundtrip. Meanwhile in bonds 10y OAT yields were just over 2bps lower following that first presidential debate in France. We noted yesterday that a snap poll following the debate found that Macron was seen as the victor at 29%, while Le Pen was seen as most favoured by 19% of respondents. Following that an Elabe poll last night found that first round support for Macron has grown to 26% while support for Le Pen has dipped to 24.5%. That 1.5% advantage for Macron compares to a 0.5% margin advantage in an Elabe poll from a few days ago. Filllon is running at 17% (from 17.5%) and Melenchon at 13.5% (from 13%). In the second round a Macron Le Pen race has the former coming out on top at 64% to 36%. That is up from 63% versus 37% previously. The odds on Fillon getting through the first round have fallen but nevertheless a second round head to head between Fillon and Le Pen has the former coming out on top at 54% to 46%. That is down from 56% to 44% previously and that is now the tightest margin of victory in polls that we have seen.

    Before we look at today’s calendar, despite politics largely dominating the front pages yesterday there was also some interesting data in the UK to comb through. It was the latest inflation data which really caught investors’ attention after headline CPI was reported as rising +0.7% mom in February, exceeding expectations for a +0.5% rise. That has pushed the annual rate up five-tenths to +2.3% yoy and the highest since September 2013 while the core also rose fourtenths to +2.0% yoy and so equalling the high mark set back in June 2014. The consensus was only for a one-tenth rise in the core. Meanwhile headline RPI also rose more than expected (+1.1% mom vs. +0.8% expected) last month while at the upstream level the PPI outputs index rose +0.2% mom. Away from that the CBI’s industrial trends survey for March edged down 3pts to 29 but still remains at elevated levels. Sterling was the big winner in currencies yesterday, closing up +0.97% versus the US Dollar and edging closer to $1.250. Gilt yields also ticked higher, particularly at the short end of the curve where 2y and 5y yields were up 5.5bps and 4.1bps respectively.

    This morning in Asia the data has largely been focused in Japan with the latest trade numbers out. In February, exports were reported as rising +11.3% yoy (vs. +10.1% expected) which is up notably from +1.3% in January. Imports also declined to +1.2% yoy from +8.5% helping to fuel a larger than expected surplus. Sales into China were reported as increasing +28.2% yoy from +3.1% in January although that will likely be impacted by the timing of the Lunar New Year celebrations. Finally, the BoJ minutes from the January meeting were also out this morning with the most interesting takeaway being a slight change in inflation perceptions between members with the latest minutes revealing that only “a few members” expected CPI not to reach 2% during the projected period, compared to “many members” in December. The Yen is little changed this morning after rallying +0.75% yesterday.

    Looking at the day ahead, the calendar is again fairly sparse today. There is nothing of note in the European session this morning while in the US we’ll get the January FHFA house price index reading followed then by the February existing home sales data. Away from the data the ECB’s Villeroy and Lautenschlaeger are both scheduled to speak this morning. The EIA weekly crude oil inventory report is also due out.

    http://www.zerohedge.com/news/2017-...-havens-jump-doubts-trump-can-pass-tax-reform
     
  35. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Frontrunning: March 23

    [​IMG]
    by Tyler Durden
    Mar 22, 2017 7:46 AM

    • 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)
    • Ryan Is Tested by Republicans’ Civil War (WSJ)
    • North Korea missile test fails, U.S. and South say, as tensions simmer (Reuters)
    • Pillar of Trump Rally Fractures as Banks Sink Most Since Brexit (BBG)
    • Iron Ore Takes a Battering as Bear Market Engulfs China (BBG)
    • Trump’s Environmental Spending Cuts Could Cost Republican Districts Billions (BBG)
    • As E-Sports Grows, Videogame Companies Battle Cheaters (WSJ)
    • Uber Pledges to Fix the Company’s ‘Cult of the Individual’ (BBG)
    • It’s Illegal for Uber Drivers to Accept Tips in Some States (BBG)
    • PPG Increases Bid for Akzo to $24 Billion; Offer Is Rejected (WSJ)
    • Portugal PM demands Dijsselbloem step down over 'xenophobic' remarks (Reuters)
    • Libor Mastermind Tom Hayes Deserves a Lot of Company in Prison (BBG)

    Overnight Media Digest

    WSJ

    - Four of Uber Technologies Inc's most prominent female officials sought to quell a storm of controversy with the promise of sweeping changes to the company's corporate culture, a soon-to-be-released diversity report and a new chief operating officer. http://on.wsj.com/2mSW1Wl

    - CKE Restaurants Holdings Inc said that Chief Executive Andy Puzder, who last month withdrew from consideration for U.S. labor secretary amid resistance from both Republicans and Democrats, was stepping down from heading the parent company of the Carl's Jr. and Hardee's burger chains. http://on.wsj.com/2mSXv2U


    - U.S. Justice Department investigators crashed a meeting of the world's 20 biggest container-shipping operators and gave subpoenas to top executives at several companies as part of a probe on price fixing, people with knowledge of the matter said. http://on.wsj.com/2mSKHcR

    - Google sought to tamp down a growing controversy over its placement of ads on inappropriate content with a promise to better police the millions of websites and videos across its platforms. http://on.wsj.com/2mT5OeO

    - Some overseas governments may buy fewer F-35s because a strengthening dollar is making the jet more expensive, a senior Lockheed Martin Corp executive said. http://on.wsj.com/2mSDtFO

    - ? Nike Inc gave a tepid outlook for sales growth even as it posted a jump in quarterly profit, as the company faces stiffer competition and a changing retail landscape. http://on.wsj.com/2mSY8t2

    - Apple Inc unveiled a lower-priced iPad starting at $329, in a bid to breathe new life into a once-hot product whose sales have trailed off. http://on.wsj.com/2mSW9oN

    - Microsoft Corp has finished development of a Windows 10 version customized for Chinese government use, which could boost its China prospects after sales were hit by Beijing's cybersecurity crackdown. http://on.wsj.com/2mSTdZb

    - Alibaba Group Holding Ltd raised its entertainment bet, acquiring online ticketing vendor Damai.cn with an eye toward feeding China's growing appetite for concerts, movies and sporting events. http://on.wsj.com/2mSZ1Sy


    FT

    Bank of England Governor Mark Carney, in response to Charlotte Hogg's resignation, said on Tuesday that cases of "honest mistakes" should not inadvertently lead to tighter rules for bankers.

    Britain said on Tuesday that its authorities would investigate newspaper allegations that UK-based banks had been used in a global money laundering scheme.

    The United States and Britain on Tuesday imposed restrictions on carry-on electronic devices on planes coming from certain airports in Muslim-majority countries in the Middle East and North Africa in response to unspecified security threats.

    Italian Prime Minister Paolo Gentiloni said on Tuesday that he wants to send a strong message in favour of free trade when he welcomes U.S. President Donald Trump and other world leaders in Italy in May.


    NYT

    - U.S. President Donald Trump is poised in the coming days to announce his plans to dismantle the centerpiece of President Barack Obama's climate change legacy, while also gutting several smaller but significant policies aimed at curbing global warming. http://nyti.ms/2mS9RZ7

    - Intelligence showing that the Islamic State is developing a bomb hidden in portable electronics spurred the United States and Britain on Tuesday to bar passengers from airports in a total of 10 Muslim-majority countries from carrying laptop computers, iPads and other devices larger than a cellphone aboard direct inbound flights, two senior American counter-terrorism officials said. http://nyti.ms/2n5HRlw

    - Google moved on Tuesday to protect its lucrative advertising business by giving marketers greater control over where their ads appear online, after major clients withdrew spots that were shown next to hate speech and other offensive material. http://nyti.ms/2mR2T6y

    - The board of Uber is confident in its chief executive, Travis Kalanick, board member Arianna Huffington said on Tuesday, providing a show of support as the embattled ride-hailing company seeks to repair its reputation. http://nyti.ms/2mSPkU8

    - The fast-food magnate Andrew Puzder, who last month withdrew his nomination to be President Trump's secretary of labor amid bipartisan opposition, is now giving up the top job at his restaurant company CKE Restaurants Holdings as well. http://nyti.ms/2nQlf8u


    Canada

    THE GLOBE AND MAIL

    ** Transport Minister Marc Garneau says Canada is evaluating intelligence passed on by the United States to determine if it should require passengers traveling from some Middle Eastern countries to pack all large electronic devices other than mobile cellphones in their checked baggage. https://tgam.ca/2mTrrMa

    ** Crown lawyers have mysteriously walked away from charges against 35 alleged associates of the Montreal Mafia. The development is a new setback for a once-promising prosecution, but allows federal authorities to sidestep questions about police surveillance gear. https://tgam.ca/2mPbcPs

    ** Canadian investors are losing access to a pioneer of emerging markets investing, as Mark Mobius hands off control of Franklin Templeton's suite of funds. https://tgam.ca/2nJ1mnd

    NATIONAL POST

    ** Canadian Solar Inc's president says U.S. President Donald Trump's pro-coal and pro-fossil fuel policies have not affected sales of its solar cells, though panel prices and its own share price have fallen. http://bit.ly/2o3X9GJ

    ** BCE Inc paid Chief Executive George Cope slightly less last year than it has in the past after the telecom giant's financial performance fell below internal targets, according to company documents. http://bit.ly/2nmlURs


    Britain

    The Times

    Government borrowing has fallen to its lowest level since the financial crisis as the public finances continued their better-than-expected run in February. http://bit.ly/2nblRaF

    The Guardian

    Goldman Sachs Group Inc is to start moving hundreds of staff out of London before a Brexit deal is struck, the bank's European boss has confirmed. http://bit.ly/2nblFIs

    Members of the Rail, Maritime and Transport (RMT) union at Southern, Merseyrail and Arriva Trains North will walk out on 8 April, causing travel misery for hundreds of thousands of commuters. http://bit.ly/2nbhgFa

    The Telegraph

    The 3 billion pounds ($3.74 billion) gold mining merger talks between Acacia Mining Plc and Canada's Endeavour Mining Corp have been brought to a halt. http://bit.ly/2nbcFmx

    Safestore Holdings Plc has become the latest company to drop changes to its directors' pay and benefits after coming under pressure from its shareholders. http://bit.ly/2nbiOPI

    Sky News

    Laptops, tablets and phones above a certain size will not be allowed in cabin luggage on UK-bound flights from six countries. http://bit.ly/2nbjW5X

    A candlelit vigil was held in the republican heartland of west Belfast to mourn Martin McGuinness. http://bit.ly/2nbbHXr

    The Independent

    BMW hinted it may move production of the Mini from England to continental Europe as a result of the UK's decision to leave the EU. http://ind.pn/2nbm5hS

    A United Nations committee has asked the UK to suspend work on the Hinkley Point C nuclear power plant, pending assessment of the environmental impact. http://ind.pn/2nbdFqN

    http://www.zerohedge.com/news/2017-03-22/frontrunning-march-23
     
  36. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  37. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Gold and Silver Market Morning: Mar 22 2017 - Gold holding new gains!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
    The gold price in Shanghai jumped 2.50 Yuan today, but the rise was greater when translated into the weak dollar. As you can see, London and New York are trying to catch up with Shanghai as the price differentials narrow. That’s why the concept of a ‘Chinese gold price premium’ distorts the reality of what’s happening. China is no longer a distant sub-market of London, while India continues to be so, as that country with its gold taxes and political interference cannot function nearly as well as Shanghai with its highly developed, huge, physical market.
     
  39. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    Rogue Mornings with "V" & CJ - Europe Pivot, China/Israel & The Russians Did It (03/22/2017)
    ROGUE MONEY



    Streamed live 4 hours ago
    "V" & CJ discuss the demise of the EU, Israel set to expand ties with China, the political establishment working to paint everyone who does not agree with them as a Russian agent. V and CJ also discuss in detail the Dr. Phil show that exposes pedophilia in the political and social elite.

    We are political scientists, editorial engineers, and radio show developers drawn together by a shared vision of bringing real news through digital mediums that evangelize our civil liberties.

    Please subscribe for the latest shows daily!

    http://www.roguemoney.net
    https://www.facebook.com/ROGUEMONEY.NET/
    https://twitter.com/theroguemoney
     
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    110,012
    Likes Received:
    34,999
    Trophy Points:
    113
    REALIST NEWS - The Upcoming Trade War Will Be The Biggest In The History Of The Planet
    jsnip4



    Published on Mar 22, 2017
    Today's Playlist: https://www.youtube.com/watch?v=Eym__...

    Article: http://theeconomiccollapseblog.com/ar...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    http://www.jmbullion.com/?utm_source=... (Recommended for Silver and Gold Purchases.)

    http://www.realistnews.net
     

Share This Page