Submitted by Michael Shedlock via MishTalk.com,
The EU fired a major global trade war tit-for-tat retaliation today against US banks and the UK in a single action.
Brussels will raise costs for foreign lenders while simultaneously taking a pot shot at London.
Please consider EU to Retaliate Against US Bank Capital Rules.
US Municipal Bond yields have now risen for 10 straight days, spiking from 1.72% to 2.34% today - the highest since July 2015. This crash has now moved munis to the most-oversold-ever as the group suffers the biggest fund outflows since 2013's taper tantrum.
The last 2 times that Muni yields spiked at such a pace marked dramatic buying opportunities...
Notably, Munis are also "cheapest" to Treasuries since Oct 2015...
Authored by Alastair Crooke, via Raul Ilargi Meijer's Automatic Earth blog,
We are plainly at a pivotal moment. President-Elect Trump wants to make dramatic changes in his nation’s course. His battle cry of wanting to make “America Great Again” evokes – and almost certainly is intended to evoke – the epic American economic expansions of the Nineteenth and Twentieth centuries.
Back in the summer we wrote about an IMF report that flagged Deutsche Bank as the "most important net contributor to systemic risks" (see "'Deutsche Bank Poses The Greatest Risk To The Global Financial System': IMF"). Those who read our site frequently were likely not terribly surprised by the IMF's conclusion.