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Global Markets Flat, Coiled Ahead Of Today's Risk Events: OPEC And The ECB

Global Markets Flat, Coiled Ahead Of Today's Risk Events: OPEC And The ECB

There are just two drivers setting the pace for today's risk mood: the OPEC meeting in Vienna which started a few hours ago, and the ECB's announcement as well as Mario Draghi's press statement due out just one hour from now. Both are expected to not reveal any major surprises, with OPEC almost certainly unable to implement a production freeze while the ECB is expected to remain on hold and provide some more details on its corporate bond buying program, although there is some modest risk of upside surprise in either case.

Another Reason To Vote Brexit: UK Taxpayers Biggest Funders Of 'Failed' Juncker "Immigration" Plan

Another Reason To Vote Brexit: UK Taxpayers Biggest Funders Of 'Failed' Juncker "Immigration" Plan

Submitted by Michael Shedlock via MishTalk.com,

British citizens seeking yet another reason to vote Brexit, have one in spades.

The roots of this reason go back to last year when European Commission president Jean Claude Juncker hatched a 3-year plan to leverage €20 billion in seed capital to produce a €300 billion gain in Eurozone investment.

As one might expected, the results are nonexistent even though Juncker has already used up the €20 billion in seed capital.

France Makes It Illegal To Drive Old Cars

France are to ban all cars registered before 1997 from July 1st, under new rules aimed at curbing smog and traffic problems in Paris.  Old cars are to be banned from Paris during weekdays, and all motorcycles registered before 1999 are to be barred from the roads too. Theverge.com reports: The ban was announced last year as part of an anti-pollution measure that will become progressively stricter in coming years. By 2020, the ban will extend to cover cars that were registered prior to 2010. Those who violate the rule can face a fine of up to €35 ($39), or €78 as of January 1st, 2017.

Manifesto – The Values of Value Investing

I rarely share letters we write to IMA’s clients, but I decided to share this “Value Investor’s Manifesto” I wrote for our clients in July. It should be a helpful tool to frame recent volatility in an appropriate perspective. It’s just eight pages long, but it’s probably one of the most important pieces of writing I have done in a long, long time. Here is the first part, the introduction.

Manifesto

By Vitaliy Katsenelson, CFA

Part One: Introduction

Pages