Europe

Authored by Guy Milliere via The Gatestone Institute,

United Airlines new policy...

My new favorite United Gif pic.twitter.com/UoY3RUZcxh

— John Puma (@JohnPuma) April 11, 2017

Gold leads in 2017 as geopolitical risk finally begins to get priced in...

In no particular order:

In a letter to employees, United CEO Oscar Munoz said he was "upset to see and hear about what happened," but defended his staff's actions because the passenger had been "disruptive and belligerent." It seems not acquiescing to a computer's decision to select you for 'reaccomodation' is "disruptive" and warrants violence?

As The BBC reports, Mr Munoz has faced criticism on social media for his response to the incident.

With the rise of communist candidate Melenchon throwing the French election results into disarray for the status quo supporters, it appears traders are rushing headlong for the safety of core-core Europe and rapidly exiting anything to do with France.

As reported in our overnight wrap, the recent surge in far-left candidate Melenchon has changed the French presidential election calculus materially in recent days, sending the spread between French and German 10Y blowing out again, helped by yesterday's Goldman downgrade of French OATs.

With volume starting to fade ahead of Friday's holiday, and geopolitical concerns growing as a US aircraft carrier approaches North Korean, S&P futures pointed to a slightly lower open, in line with stock markets in Europe and Asia. Safe havens such as gold and treasuries strengthened along with Japanese yen, which erased all of yesterday's losses and neared its 110 support on investor caution about global security risks and the future of U.S. interest rates after Yellen's Monday speech failed to provide clarity.