Europe

Oil bounced a bit (on Saudi noise)... banks dropped (ahead of CCAR)... Healthcare ripped again (on a bill that appears to be DOA)... and stocks gave up hope in the last few minutes...

Just this morning we reported that as the global equity research market wrestles with how it will comply with the EU's MiFID II regulations, in a new study McKinsey said that banks will have no choice but to fire a ton of equity research analysts who write a bunch of stuff that no one ever reads...which seems like a reasonable guess.

One of the profound revelations from the data released by NSA whistleblower Edward Snowden was that in addition to spying on its own citizens, the NSA engaged in aggressive espionage on some of America's closest allies, most notably Angela Merkel and her Blackberry. It now turns out that Germany had been returning the favor.

Corrupt US Senate Pushes America Toward War With Russia And Europe

“The sleazy hypocrisy of US legislators is legendary, but it is their ignorance, greed and arrogance that are worrying.”

https://www.strategic-culture.org/news/2017/06/21/ever-closer-war.html

The post Corrupt US Senate Pushes America Toward War With Russia And Europe appeared first on PaulCraigRoberts.org.

• European stock markets stumble as oil languishes near lows (Reuters)
• Some Trump Aides Want a New Leader at the Fed (BBG)
• Goal of Saudi Shake-Up: Drag Country Into the Modern Era (WSJ)
• Under fire in Washington, Trump back in campaign mode in Iowa (Reuters)
• Revenue Slides at Some Trump Businesses, but Vegas Tower Brings Windfall (WSJ)
• Trump, new Saudi crown prince share hardline views on Iran but risks abound (Reuters)
• Canada’s Plan for Managing Trump: Go Around Him (NYT)