Authored by Kevin Muir via The Macro Tourist,
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The euro's surge to an almost two-year high put a cap on the global market rally in Friday's quiet session, with most major exchanges consolidating after a second strong week of gains. The MSCI Asia-Pacific index declined for first time in ten days while the European Stoxx 600 index was fractionally in the green as were US equity futures ahead of earnings reports from General Electric, Honeywell, Schlumberger and others. Oil gained with Brent flirting with $50, zinc rallied along with most base metals.
Via Global Macro Monitor,
No, we are not talking about President Reagan’s supply-side economics - policies to increase productivity with the goal of increasing long-term aggregate supply or output while simultaneously reducing inflation.
By Francesco Filia of Fasanara Capital
How Bad a Damage If Volatility Rises: The Bear Trap of Short Vol ETFs
It was quiet, too quiet. Markets were comfortably drifting ever higher (10th day up in a row for Nasdaq) and then headlines hit on Bloomberg reporting that special counsel Robert Mueller wil be probing Trump's business transactions and will extend his investigation to examining the dealings of Kushner and Manafort.