Business

As expected, global markets continue to trade very subdued with negligible volumes (overnight the Nikkei traded 40% below its 20DMA) in the quasi-holiday week in which as Nanex showed earlier, this morning the E-mini is the 8th most actively traded future (where it usually is #1 or #2).

S&P500 futures are 8th most actively traded since midnight (usually #1 or 2)1) Crude2) EuroFx3) Gold4) Copper5) Yen6) Brent7) FTSE

— Eric Scott Hunsader (@nanexllc) December 28, 2016

The datapoints that suggest the market for new airplanes is underoing a severe repricing shock kept coming overnight, when just two days after Iran announced it had negotiated the "$16.6 billion" purchase of 50 737 planes and 30 777 aircraft at half the sticker price, and one year after we revealed that a used Boeing 777 can be purchased for as much as 97% off, overnight Delta Air Lines said that it would scrap an order for 18 787 Dreamliner aircraft, valued at more than $4 billion at list prices, which the company assumed as a part of its merger with Northwest Airlines.

Global markets continued their levitation with the UK returning from vacation, pushing the MSCI Asia Pacific Index higher for the first time in seven days, while oil headed for the longest winning streak in almost seven years ahead of the promised OPEC production cut which is set to begin in just days.

Excerpted from "Get It. Got It. Good" by Grant Williams, author of "Things That Make You Go Hmm..."

The story begins in the 1970s when Henry Kissinger and Richard Nixon struck a deal with the House of Saud — a deal which gave birth to the petrodollar system.

The terms were simple The Saudis agreed to ONLY accept U.S. Dollars in return for their oil and that they would reinvest their surplus dollars into U.S. treasuries.

Authored by Ron Paul via The Ron Paul Institute,

In the spirit of New Year’s, here are four resolutions for President-elect Trump and Congress that will enable them to really make America great again: