Europe

Submitted by William Anderson via The Mises Institute,

Nearly four decades ago, political pundits were shocked as voters turned away President Jimmy Carter and voted in Ronald Reagan, who promised to bring fundamental change to Washington and the indwelling political establishment. At the time, unemployment was rising quickly and inflation raged in double-digits, and Reagan had promised to deal with the economic failures by cutting income tax rates, slashing government spending, and reducing the regulatory burden.

OK - so, China tightens (worried about leverage), European sovereign risk spikes (Election uncertainty everywhere), Yen surges (BOJ tested again), gold spikes, Treasury yields tumble.. but US stocks are flat and VIX tumbles...

Submitted by Nick Cunningham via OilPrice.com,

Oil and refined products inventories in the U.S. continue to climb at a worrying pace, raising some red flags for an oil market that was supposed to be on the mend.

Crude oil inventories jumped by a whopping 6.5 million barrels last week, rising to 494.8 million barrels. Oil stocks have now increased every week of 2017, and are now not far off from the 80-year highs reached in 2016.

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Israeli Prime Minister Benjamin Netanyahu wants his British counterpart to back his call for a tougher international stance against Iran. Before meeting with the British Prime Minister at Downing Street Netanyahu said that Iran’s aggression cannot go unanswered He has urged Theresa May to pledge her support for renewed sanctions against Iran after the country recently test-fired a ballistic missile ‘Iran seeks to annihilate Israel, it seeks to conquer the Middle East, it threatens Europe, it threatens the West, it threatens the world.

Submitted by Jason Leach via FusionPointCapital.com,