China

Authored by Nicholas Trickett via OilPrice.com,

Oil Royalties

S&P futures are again modestly in the green as European shares hold steady ahead of a meeting of the Catalan regional parliament and a possible declaration of independence by Catalan leader Puigdemont, while Asian shares rise a the second day. The dollar declined for the 3rd day, its losses accelerating across the board amid growing concerns that Trump's tax reform is once again dead following the Corker spat and a rejection from Paul Ryan, with the move gaining traction after China set the yuan’s fixing stronger for the first time in seven days.

In a note released this morning by Macquarie's Viktor Shvetz, the bank's stunned head of global equity strategy looks at what has become a "world without risk" and makes several observations, the key of which is absolutely spot on: "Investors are probably suffering extreme mental exhaustion.

Authored by James Holbrooks via TheAntiMedia.org,

“Not sure whether China will be nice to self-ruled Taiwan? Wait until after the 19th National Congress of the Communist Party.

 

What’s in store for the hotly disputed, resource-rich South China Sea, where Beijing has taken a military and technological lead since 2010? Wait until after the Congress.

 

Coffee maker wouldn’t start today? Wait until after the Congress.

 

Over the past two months, China, North Korea’s economic benefactor and formally the source of 90% of its foreign trade, has been withdrawing financial support, ostensibly under the auspices of US sanctions, as Communist Party leaders try to rein in the North’s nuclear program to appease the US and prevent a potentially destabilizing conflict on its border – a development that would be particularly unwelcome during the Communist Party’s upcoming national congress.