Even as recent European outcast Poland is demanding World War II reparations from Germany, causing a rift between Warsaw and Berlin, it has engaged in another diplomatic feud, this time with French president Macron, who as we learned overnight spends $10,000 each month on make up.
Via StockBoardAsset.com,
Police in Rome evicted 100s of refugees that had occupied Piazza Independenza just one block from the country’s main train station.
The squatters were defiant so local police used water cannons and batons in the forceful eviction. As Reuters reports,
Some 100 refugees had occupied Piazza Independenza since Saturday, when most of about 800 squatters were evicted from an adjacent office building they had occupied for about five years.
With Janet Yellen set to speak in just a few minutes, traders are scrambling to position ahead of what while most expect will be a snoozer speech, could actually be a "big surprise" as RBC's cross-asset strategist Charlie McElligott warns in his Jackson Hole preview that, noting that the risk of a dollar rally today is non-zero.
The paradox of the US stock market continued for yet another week, because according to Bank of America citing EPFR data with the S&P effectively at record highs, US equity funds have suffered their longest outflows streak in 13 years, as investors pulled out another $2.6 from US stocks in the week ending Wednesday. That brings total outflows since late June to $30 billion, as investors allocated $36 billion to the rest of the world.
Global markets are stuck in a holding pattern with S&P futures up modestly after fluctuating overnight, as European and Asian shares rise with oil while the dollar has dipped lower ahead of the biggest central bank event of the year: the Fed's Jackson Hole symposium where Janet Yellen and Mario Draghi will speak at 10am and 3pm ET, respectively. Meanwhile, world stocks drifted toward their best week in six on Friday, as a near three-year high in emerging markets shares and a roaring rally in industrial metals bolstered the year’s global bull run.