Europe

While Fed Funds futures imply a 100% probability that The Fed hikes rate by 25bps tomorrow, it appears questions over Trump's policy timeline combined with the collapse in GDP expectations has dragged expectations for another rate hike in June back to its lowest since the election...

As GDP growth expectations have plunged so April Fed Funds futures have tumbled - completely against the common sense that The Fed hikes into strength, not weakness...

But the lower chart shows the July futures not following the collapse and fading that disappointment.

Authored by Judith Bergmann via The Gatestone Institute,

FIAT Drainage Has Begun

Vince Lanci for MarketSlant.com

Gold will meet head winds as the world continues to hedge most of its  uncertainty with flights to the USD. Unless that uncertainty abates, it must in the end spread all the way to the US. This will happen regardless of what you think of Trump's policies. Trump may accelerate or slow the inevitable. But Government can only slow or speed up market clearing events. They cannot stop them. 

EU Crisis Becoming Existential… Dutch Vote Tomorrow and Why It Matters

The leader of the National Front in France, Marine Le Pen, has hailed Britain’s decision to leave the EU – and has called for France to hold a similar referendum

A ruling by the European Union's top court on Tuesday, which allows companies to bar staff from wearing Islamic headscarves and other visible religious symbols, has set off a storm of complaint from rights groups and religious leaders. With its first ruling on a hot political issue across Europe, the Court of Justice (ECJ) has found that a Belgian firm which had a rule barring employees who dealt with customers from wearing visible religious and political symbols "may not have discriminated" against a receptionist dismissed for wearing a headscarf.