Asia

With volume starting to fade ahead of Friday's holiday, and geopolitical concerns growing as a US aircraft carrier approaches North Korean, S&P futures pointed to a slightly lower open, in line with stock markets in Europe and Asia. Safe havens such as gold and treasuries strengthened along with Japanese yen, which erased all of yesterday's losses and neared its 110 support on investor caution about global security risks and the future of U.S. interest rates after Yellen's Monday speech failed to provide clarity.

• Euro hovers above one-month low as French election nerves grow (Reuters)
• French Election Risk Reawakens as Bonds Drop, Volatility Jumps (BBG)
• Hopes fade for U.S. bank earnings despite rally in financial shares (Reuters)
• Skepticism Grows About Higher Fed Rates Helping Banks’ Margins (BBG)
• Record Bond Issuance Signals Doubts About Economy (WSJ)
• Price for Tax Overhaul Makes Bipartisan Deal Unlikely (WSJ)
• Congress Sinks Into Partisan Morass as Shutdown Threat Looms (BBG)

S&P futures point to a slightly lower open, while Asian and European stocks are likewise modestly in the red. Trading volumes are muted for most markets on Monday with investors spooked by rising geopolitical tensions in the Middle East and the Korean peninsula. It is also a holiday-shortened week in much of the West. As Bloomberg puts it, there is a "sense of unease" across markets, with global stocks mixed as investors weighed looming security risks and French bonds retreating ahead of the election following the surprising surge of far-leftist Melenchon in the polls.

Authored by Nick Cunningham of OilPrice.com,

The global market for LNG is changing quickly, spurred on by new sources of supply from U.S. shale.

U.S. natural gas production surged over the past decade, as fracking opened up a wave of new gas supply. That wave led to a glut and a crash in prices long before shale drillers did the same for oil. The U.S. was sitting on massive volumes of gas that routinely traded as low as $2 or $3 per million BTU (MMMBtu).

Authored by Cyril Widdershoven via OilPrice.com,