Authored by Jim Carey via GeopoliticsAlert.com,
Earlier this week notorious war hawk US Senator John McCain (R-Az) was diagnosed with brain cancer. While the liberal and conservative establishments are sending their regards, Geopolitics Alert instead compiled a list of reasons why we don’t care about McCain.
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.
By Chris at www.CapitalistExploits.at
It was back in the early 1800's that the Brits left the sodden, miserable shores of their murky island, grabbed their trumpets, tucked their trousers into the socks, and began conquering the world with the cunning use of flags.
Like all good conquerors, they had a backup plan in the event flags didn't work - guns, which - as it turned out - work bloody well.
The relentless risk levitation continued overnight, as global shares extended their stretch of consecutive record highs on Thursday for a 10th day after a cautious BOJ lifted Asian stocks to a decade high with a dovish announcement that offered no surprises, while pushing back Kuroda's 2% inflation target to 2020, the 6th consecutive delay. With all eyes on the ECB in just over an hour, US equity futures are in the green, following solid gains around the globe. European stocks extended their biggest gain in a week while Asian equities maintained their rally.
In what has been a less exciting session than the previous two, the euro retraced some recent gains as traders grew concerned they may have overestimated the ECB's hawkish bias ahead of Thursday’s rate decision; in turn the dollar edged higher after the collapse of the GOP healthcare bill sent it to the lowest since September on Tuesday.
Not even Citi could infuse any excitement in the overnight session, which its called "Purgatorial":