Toss out the old methods and say hello to the largest contraction since World War II.
Germany, Which Runs A Surplus And Can Borrow For Free, Posts Worst Industrial Production Plunge Since Crisis
The YoY print was, in a word, terrible.
France Threatens Retaliation To Proposed US Tariffs; Trump Says Nobody Taxes His Tech But Him
“Itâ€™s not the behavior we expect from the US toward one of its main allies”.
Trump Finds France Guilty In Digital Tax Probe, Plans Tariffs On $2.4 Billion Of Wine, Makeup, ‘Reptile Leather’
Cheese, pedicure preparations, makeup and, of course, handbags.
As NATO Faces Irrelevance, Trump Blamed In Brussels For Stoking Existential Crisis In Europe
“For the first time in history, there is an American president who is openly against a united Europe”.
Dour Prediction For German Exports Spoils Decent French GDP Read
“DIHK has not received such pessimistic replies since the crisis.”
Another Growth Scare? From France To South Korea To Down Under, Fresh Data Paints Dour Picture
We’re not out of the dark woods yet.
Iran, France Rush To Finalize $15 Billion Credit Line Amid Escalations
“We can have 20% enriched fuel within one or two days”.
US Officials Say G-7 Rigged, Focuses Too Much On ‘Niche’ Issues Like The Future Of The Planet
Donald Trump is mad his “input” on climate and inequality isn’t welcome.
Trump Caps Whirlwind Week With Cartoonish Oval Office Scrum, Supreme Court Wall Win
The sheer amount of ground Trump covered on Friday is astonishing.
In Marathon Twitter Harangue, Trump Goes After China, Apple, WTO, French Wine And Even Fox News
“Proud Warriors!”, “CHEATERS” and other shenanigans.
Doom And Gloom.
Dour data and plunging bond yields.
Center Stage: Full Week Ahead Preview
Another ‘Oh FFS’ Moment For Brussels: Macron ‘Yellow Vest’ Concessions Set Stage For Budget Battle
Europe can’t catch a break.
The ‘Most Important Week Of The Year’? Full Week Ahead Preview
I doubt it, but as Trump would say, “we’ll see what happens”…
That didn’t go so well.
Have Genius, Will Travel.
Well needless to say, this was not a particularly inspiring week.
Euro Bulls Fired Up As German Coalition Talks Push Common Currency To Three-Year High
Long euro may be a crowded trade, but by God it’s worked out pretty well over the past couple of days.Â
Time For A French Kiss?
Meanwhile, across the pond…
Monsters Under The Bed.
“To some extent the marketâ€™s resilience is justified; in other cases, however, it looks like a case of when rather than if potential shocks get priced in.”
Russell Shuffle Day, Brexit Anniversary, & Crude Carnage
It’s Russell reshuffle day, which means equities will likely be jarred out of any summer
“In our opinion, this is not dangerous market complacency but a reflection of an abnormally tranquil macro environment, with a benign economic outlook, very supportive financial conditions, and lower political risks”…
Stocks Super Happy, Oil “Flirts With Collapse,” UK Brexits, France Wonders Why No One Voted
Generally speaking, it was a quiet overnight session as traders look forward to a light
How The ECB “Actively” Rescued Markets Ahead Of The French Election
“But the ECB is more than just a â€œpassive acquirerâ€ of assets, in our view. We think they are taking an active role in bond buying to manage the fallout from policy uncertainty (and prevent a tightening in credit conditions that would ensue if they didnâ€™t).”