Europe

European stocks were flat after starting off strongly earlier, dragged lower by energy stocks. Asian stocks, U.S. futures little changed as oil tumbled with Brent tumbling as low as $45.85/bbl to the lowest intraday since November 30 and taking out a 38.2% Fib support, after a one-minute spike in volume to a day-high 5,208 lots just after 6am, with WTI mirroring Brent's momentum, and falling as much as 98c to $43.22, lowest since November 14.

Investors added $871 million to the Vanguard FTSE Europe exchange-traded fund in the five days through Friday, pushing the largest European ETF to its largest two-week inflow in history.

The US hedge fund industry is in rough shape as the Federal Reserve’s lift-all-boats monetary policy has made it increasingly difficult to beat the market. US hedge funds endured nearly $100 billion in redemptions last year, as only 30% of US equity funds beat their benchmarks.

Authored by Antonius Aquinas,

Two of Europe’s greatest contemporary enemies recently got together to compare notes and discuss how they were going to further undermine and destabilize what remains of the Continent’s civilization.  Pope Francis and German Chancellor Angela Merkel met on June 17, in the Vatican’s Apostolic Palace to discuss the issues which will be raised at a Group of 20 summit meeting in Hamburg, from July 7-8.

Another Step Toward Devastating War

Paul Craig Roberts

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An idiot American pilot shot down a Syrian fighter that was attacking ISIS, thus confirming that Washington is not fighting ISIS, as Washington claims, but is protecting ISIS, its agent sent to Syria by Obama and Hillary to overthrow the Syrian government. General Michael Flynn revealed on a TV interview that Obama and Hillary had, over his objection as director of the Defense Intelligence Agency, made the “willful decision” to send ISIS to Syria.