Qatar Stocks Plunge To Lowest Since 2013

“Remember: all of this so Saudi Arabia can deflect blame for Riyadh’s support of Sunni extremism and punish Doha for adopting a more conciliatory stance toward Tehran.”

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Qatari Stocks Fall For 5th Day After Phone Call With Saudis Goes Horribly Wrong

If you have any ideas on how to get negotiations up and running again, please contact the appropriate parties in Riyadh and Doha – just make sure you don’t say they called you.

4 Round Numbers, Apple, And Wednesday In Charts

Just another day in Wonderland…

Saudi State Media Accuses Qatar Of Bribing ‘Sorcerers,’ ‘Harnessing Genies’

“Sorcerers from Senegal and Mauritania get millions of dollars after sheikhs in Qatar offer to bring down spirits and harness genies to solve the crisis.”

“SAR”-ry: Is It Time To Talk About The Saudi Riyal Peg Again?

Remember back in late 2015/early 2016 when everyone was panicking about the Saudi riyal peg after the kingdom cut subsidies in an effort to plug a yawning budget gap? Basically, Riyadh set out to implement austerity as an offset to plunging crude prices and as a means of stanching the attendant SAMA burn. That spooked…

Stocks Dive In “Fearless” Qatar As Deadline Looms, Banks Halt Riyal Trading

“There is no fear from our direction. We are ready to face the consequences.”

An Open Letter From Al Jazeera To The World

“We have been accused of bias, of catalysing the Arab Spring, of having an agenda, and of favouring one group over another. We reject these allegations and our screens are a testament to our integrity.”

“Mercury Rising”: Here Are The 4 Mideast “Flashpoints” Markets Should Fear

“The implications are far reaching, with scarcely a country in the region not at risk of being drawn in.”

In Saudi-Qatar Spat, “Terrorist” Is A Political Term

“There is no question that these individuals are connected to Qatar, but the question of whether they are “terrorists” or not is essentially political.”

“Hakuna Matata”?

“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 In Saudi Arabia Rally Again, Up A Staggering 9% On The Week

In case you were in any way unclear about this: Saudi stocks are super excited about the possibility of MSCI inclusion somewhere down the road and, more importantly, about Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman replacing his cousin Muhammad bin Nayef as heir to the throne. The consolidation of power in bin Salman…

Mohammed Bin Salman Consolidates Power, Saudi Stocks Soar: “No Question Who’s In Charge”

“It’s clearly a transition that has happened smoothly and bloodlessly. Now it’s clear, it’s straightforward. That kind of clarity lowers the risk. There’s no question as to who’s going to be in charge.”

A Royal Shakeup, China’s Big Day Falls Flat, Crude Reality Bites

Ok, well for obvious reasons, the headlines overnight pretty much all revolved around: Saudi Arabia China Oil In Riyadh, Mohammed bin Salman consolidated still more power after replacing his cousin Muhammad bin Nayef as heir to the throne. It was, as quite a few in the media noted, an “abrupt” change. But bin Salman was already running defense,…

Qatar Hits Back: “The Better Question” Is Why You Guys Did 9/11

“Ambassador Otaiba must certainly be aware that the United Nations and the U.S. Treasury Department list 10 times as many suspected terrorists and terrorist financiers from the boycotting countries as from Qatar.”

Before The Fed: China?! “An Illegal Siege” On Qatar! Crude Carnage. Oh, My.

Yeah, so this afternoon the Fed will almost surely hike and folks will be looking for answers to a whole lot of questions. The full preview is available here, but one thing you should note is that traders will be watching CPI and retail sales first and indeed, those prints may end up dictating the…