Global Stocks Are Happy. Gold Is Sad. China! I Found Some Inflation In Norway.

Well, I’d say “it’s quiet out there,” but that’s cliché. So how about this: “ain’t shit shakin’ but the leaves in the trees“. Ok, maybe a few things happened while you were asleep. But not much. Let’s walk through some things. We got China PPI and CPI, with the former printing +5.5% for June, in…

Geopolitics! Won At 4-Month Low, Lira Sinks, Trump Says ‘Very Severe’ Shit Is Goin’ Down

Well, the won is at four-month low against the dollar on Thursday because, well, because a mushroom cloud over Seoul isn’t an entirely far-fetched proposition. “The won is under pressure as it appears North Korea is getting closer and closer to its nuclear program and that is causing tension and apprehension in the Korean peninsula,”…

“A Major, Serious” Situation In Japan, PMIs Galore, And A Deadline For Qatar

Ok, so Shinzo Abe’s LDP suffered a stunning loss in Tokyo assembly elections over the weekend, winning their lowest number of seats ever, and that prompted calls for a cabinet reshuffle. “It looks like a tough situation,” LDP Secretary General Toshihiro Nikai said on Sunday. “This is major, it’s serious,” independent political analyst Minoru Morita added. “He…

Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk

Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone long risk at these levels. A day after Mario Draghi took what certainly seems to have been a hawkish turn by saying the ECB would “look through” lackluster inflation data, the euro hit a 1-year high: “Macro accounts jumped on…