Europe

As we've said before, US accusations that countries like China and Russia run sophisticated hacking operations designed to infiltrate sensitive US networks are often hypocritical. After all, we do the exact same thing.

Today, the Daily Beast reported on newly unsealed documents that show the FBI blindly hacked into computers in Russia, China and Iran during a wide ranging investigation that lead to the bust of a global child pornography operation and the liberation of sexual abuse victims.

As the Daily Beast explains...

Ignoring the surge in junk bond risk and collapse of the yield curve, stock investors were overheard saying...

Gold remains the post-Saudi-purge winner...

"A Happy Trumpiversary to all our readers this morning"

       - Deutsche Bank

U.S. equity futures are little changed as European and Asian shares retreated, led by sliding bank stocks and a drop in the dollar as doubts over republican tax cuts and ongoing bond curve flattening hurt sentiment and prompted fresh questions over the viability of the US expansion.

During his trip to London this week, US Commerce Secretary, Wilbur Ross, wasn’t only defending revelations in the Paradise Papers that he’d invested in a shipping company with ties to the Putin family. He also attended a “closed-door meeting” with executives from JPMorgan, Goldman, HSBC and other banks. The meeting took place over lunch in the exclusive St James’s District (hedge fund land these days) at Wiltons restaurant.