Europe

The month of May was very contentious one for Euro-Turkey relations.

Taiwan's exports fell 9.6% y/y in May, marking the 16th straight month of decline. The results were slightly better than estimates of a 9.9% fall, however significantly worse than April where exports fell 6.5% y/y. Imports also fell 3.4% y/y, leaving a $3.5 billion trade surplus for May.

Stock whisperer Yellen said all the right things yesterday, when she sounded more optimistic than pessimistic on the economy but while the economy is "strong" it is most likely not strong enough to weather a rate hike in the immediate future.

The U.S. State Department are warning U.S. citizens against travelling to all parts of Europe, saying that there is a strong chance of an impending terrorist attack.  According to the travel warning, the State Department claim that there is a strong chance that ISIS will strike major events, tourist sites, restaurants, commercial centers and public transportation in the coming summer months. State.gov reports: As part of the State Department’s continuous efforts to provide Americans travelling abroad with information about relevant events, we are alerting U.S.

NATO chief, General Jens Stoltenberg, has warned Britain that a Brexit vote would lead to dire consequences for the UK and Europe.  Secretary General Jens Stoltenberg told an event at Brussels that if the UK vote Brexit it will lead to instability throughout Europe. “What really matters for NATO is, I strongly believe, a strong UK in a strong EU. It is good for both the UK and the EU but also for NATO,” Stoltenberg said on Monday. Presstv.com reports: Stoltenberg, the former Norwegian premier, said that it was “up to the British people” to decide about the future of their country.