Asia

Authored by Patrick Buchanan via Buchanan.org,

“You all start with the premise that democracy is some good. I don’t think it’s worth a damn. Churchill is right. The only thing to be said for democracy is that there is nothing else that’s any better. …

 

“People say, ‘If the Congress were more representative of the people it would be better.’ I say Congress is too damn representative. It’s just as stupid as the people are, just as uneducated, just as dumb, just as selfish.”

Global markets were oddly calm on Friday, the last day of trading before the first round of France's closely fought presidential election, with European stocks posting modest declines ahead of Sunday's main event, Asian shares rising, and set for first weekly gain in the past month, while U.S. futures were unchanged. French bond yields hit three-months low even as the euro has seen some recent weakness.

European stocks rose amid earnings beats, offsetting weakness in the energy sector and easing investor concerns ahead of the weekend’s French election. Asian shares and U.S. futures also rise. The dollar weakens against the euro and most crosses, while crude oil rebounds following renewed OPEC chatter of a production cut, this time with Saudi Arabia seemingly onboard.

Authored by James Bambino via Platts blog,

This is the first part of a three-part series on headwinds facing the crude market.

These have been interesting times in the crude market. Prices had been trading comfortably above $50/b since late March, with bulls re-trenching on the idea that Saudi-led OPEC supply cut will soon tighten balances.

From Obamacare to NATO, and from Ex-Im Bank to Chinese currency manipulators, President Trump has shown he is comfortable changing his mind 'bigly'. Today's exuberant support for "TTIP as good for global order," from Speaker Ryan, following VP Pence's meetings in Japan, raises questions about whether Trump's executive order withdrawing from the Trans-Pacific Partnership (TPP) free trade agreement is the next big flip-flop.