Following yesterday's US decision to decline a visa for a Justice ministry delegation, it was Germany's turn today to put the screws to Turkey. As Bloomberg reports, Germany is actively working to cut funding to Turkey from the country’s state-owned KfW bank, the European Investment Bank and the European Bank for Reconstruction and Development, people familiar with the matter say.
Carlyle, the favorite private equity firm of Washington D.C. and the "military industrial complex", has named two executives as successors to the ageing founders of the $158 billion fund, the latest rare move in an industry where similar succession plans are not usually telegraphed in advance. Kewsong Lee and Glenn Youngkin have been appointed as co-chief executive officers, while Peter Clare will become co-chief investment officer alongside one of the founders.
S&P futures are fractionally in the red while traders await President Trump’s pick for Fed chair and more clues on the fate of tax reform; Asian stocks slide, European shares are little changed ahead of tomorrow's ECB tapering announcement as US 10Y yields finally break out of their multi-month range below 2.40%...
As a reminder, nothing lasts forever...
The World Bank's former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.
"The dominance of the greenback is the root cause of global financial and economic crises," Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank.
"The solution to this is to replace the national currency with a global currency."
Authored by Mike Shedlock via TheMaven.net/MishTalk,
The Illinois legislature is in recess right now. Other than disbanding the body, that's the best place for them.
When they return, they are going after your pocketbook in the form a gas tax hike. Not to be outdone, Chicago Mayor Rahm Emanuel is pondering property tax hikes.