As SocGen's Kit Juckes noted earlier in the week, "The ECB, not The Fed, is in the driving seat," and nowhere is that more optically obvious than in the massive divergence between US-EU bond risk premia and US-EU inflation surprises.
S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.
Submitted by Jeff Thomas via SWPCayman.com,
"If your gold is outside the US, it gives you another degree of insulation should the United States decide that you shouldn’t own it — it's not a reportable asset." - Doug Casey, May 2017
By Chris at www.CapitalistExploits.at
Well done!
To the Donald...
Too true Donald. These guys are filthy rich. In fact, if Justin Bieber lived out there, they'd put him on income support.
Fighting words those. Bow wow, woof, woof. Grrrr!
Jeff Bezos and Bill Gates vying for the world's richest man title...
Did Trump just shove another NATO leader to be in the front of the group? pic.twitter.com/bL1r2auELd
— Steve Kopack (@SteveKopack) May 25, 2017
Today's biggest story outside of AMZN $1000, was OPEC's epic fail... OPEC announced a 9-month extension of its production cuts that have not worked. The market was disappointed...WTI saw its biggest down day since Feb 2016