First the bad news: following Friday's "tech wreck" European equity markets have opened lower, with the Stoxx 600 sliding 0.9% and back under the 50DMA for the first time since December, dragged by selloff in tech shares, mirroring Asian markets as Friday’s "FAAMG" volatility in U.S. markets spreads globally, battering shares from South Korea to the Netherlands.
In his characteristically unique style, this morning Mint's Bill Blain has set his sights, and commentary, on the recent elections in the UK and France, the former of which he summarizes as a "FUBAR moment of monumental proportions" while the latter is - well, who knows, but "at least Macron has a plan."
His latest "Blain's Morning Porridge" note below:
France or the UK - A Tale of Two Cities... but mainly who is going to clear up?
Authored by Yves Manou via The Gatestone Institute,
By Chris at www.CapitalistExploits.at
Economists measure economic variables. That's a problem.
They are but one piece of an incredibly complex puzzle:
Consider for a moment the impact of technology on every aspect of life.
Now, consider its impact on warfare. Warfare, of course, impacts economics. Something worth remembering.
British Prime Minister (for now) Theresa May is desperately cobbling together a deal today with a small Northem Irish political party that she needs to stay in power after a disastrous election that destroyed her authority days before Brexit talks are due to start.
So how did we get here? Hedge Fund CIO Eric Peters succinctly sums up the state of play...