Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing.
Welcome to this week's edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity.
Update: Alain Juppe concedes making Francois Fillon Les Republicans' presidential candidate against Marine Le Pen in next year's presidential election.
#BREAKING Alain Juppe concedes defeat in French presidential primary
— AFP news agency (@AFP) November 27, 2016
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Following last weekend's latest latest "stunning" political outcome, in which French former PM Francois Fillon trounced pollsters' favorite Alain Juppe in the first round of the French conservative primary and which saw the latest political career termination for former president Nicolas Sarkozy, on Sunday the two former prime ministers are going head-to-head in a runoff vote for France's center-right presidential nomination, with the victor expected to face a showdown against a resurgent Marine Le Pen in the May 2017 presidential election.
On Friday, after reading the latest shift in the ever-changing, always fluid OPEC narrative, according to which Saudi Arabia now demands Iranian oil production cuts contrary to the agreement reached at the end of September in Algiers, in which Iran was granted an exemption from the upcoming supply cut negotiation in Vienna on November 30, we were confused:
Wait so the Saudis demand Iran cuts production now after explicitly granting Iran an exemption in Algiers?
— zerohedge (@zerohedge) November 25, 2016
Last week, in a troubling development for privacy advocates everywhere, we reported that the UK has passed the "snooper charter" effectively ending all online privacy. Now, the mainstream media has caught on and appears to be displeased. As AP writes today, "after months of wrangling, Parliament has passed a contentious new snooping law that gives authorities — from police and spies to food regulators, fire officials and tax inspectors — powers to look at the internet browsing records of everyone in the country."