Yesterday it was Bank of America, today's it's SocGen's turn.
As we've repeatedly stated in the past, not a day seems to pass without some broker, investor, sellside analyst or pundit (this website certainly included) opining on i) how low the Vix has fallen, ii) how much lower it will fall, and iii) how the inevitable surge will lead to unpleasant consequences.
Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets. Asian equities traded higher across the board after China's Caixin Manufacturing PMI beat expectations and printed its highest since March, refuting the decline in the official PMI data reported a day earlier, while firmer commodity prices boost both sentiment and commodity stocks across Asia and Europe.
Authored by Soeren Kern via The Gatestone Institute,
Authored by Alex Gorka via The Stratgeic Culture Foundation,
Much has been said about NATO reinforcements in the Baltic States and Poland perceived in Moscow as provocative actions undermining security in Europe, while very little has been said about gradual but steady militarization of Scandinavia. The theme does not hit headlines and it is not in focus of public discourse but one step is taken after another to turn the region into a springboard for staging offensive actions against Russia.
While the Pentagon may be already contemplating its next steps in the escalating conflict with Russia, which as the WSJ reported will likely involve supplying Ukraine with antitank missiles and other weaponry - a red line for the Kremlin not even the Obama administration dared to cross - there is minor matter of what to do with a suddenly furious Europe, which as we discussed previously, has vowed it would retaliate promptly after Trump signed the anti-Russia legislation into law, due to allegations it was just a veiled attempt at favoritism for US-based energy companies.