Europe

U.S. index futures point slightly lower open. Asian shares rose while stocks in Europe fell as energy producers got caught in a downdraft in oil prices and reversed an earlier gain after Goldman unexpectedly warned that WTI could slide below $40 absent "show and awe" from OPEC. The dollar rose, hitting a four-month high against the yen and bonds and top emerging market currencies were back under pressure on Tuesday, following last week’s hawkish rhetoric from central bankers.

Goldman has done it again: less than two weeks after the bank said "oil prices have likely hit bottom of the price range, and look attractive" when it slashed its WTI price target from $55 to $47.50 (and every other Wall Street bank promptly followed), in a note released overnight by its analysts including Damien Courvalin and Jeffrey Currie, the central banker incubator has effectively thrown in the towel, and writes that while its 3 month base case price target remains$47.5, it warns that absent a "shock and awe" production cuts from OPEC, oil could tumble below $40/barrel

Authored by Milton Ezrati via NationalInterest.org,

The violent riots that engulfed the city of Hamburg during the G20 summit have prompted some deep soul-searching among ordinary Germans while provoking a wave of indignation among German politicians, who demanded a radical change of approach toward violent protests, as well as to left-wing extremism.

In a bizarre diplomatic development, none other than the state of Israel has branded billionaire philanthropist George Soros, one of Hillary Clinton's most generous donors, a "threat", accusing him of "continuously undermining Israel's democratically elected governments" and saying that Soros-funded organizations "defame the Jewish state and seek to deny it the right to defend itself".

How did this escalation materialize?