With the plunge in rate-hike odds and fears over Brexit, it appears the safety of global developed market bonds is sought after as Bloomberg's Developed World Bond yield slumps to just 62bps - a record low. Yields are moving opposite to what economist expected (and have been expecting since the fall of 2011 when Ben Bernanke broke the capital markets).
Record low global bond yields...
The USS Porter has entered the Black Sea in what the Sixth Fleet says is a routine deployment to help promote peace and stability. However, the US Navy destroyer has just been outfitted with a new missile system due to what the Navy called a “Russian threat.” RT reports: Turkish observers spotted the Porter sailing through the Bosporus on Monday, the first US Navy ship to enter the Black Sea this year.
Submitted by Simon Black via SovereignMan.com,
In a bizarre story disclosed over the weekend, we learned that Belgium’s Princess Astrid was robbed by two assailants on a motorbike.
The thieves apparently approached her while she was sitting in traffic, smashed in her window, snatched the Royal Handbag, and sped off with over 2,000 euros in cash.
I have no doubt that was a harrowing experience for the princess, as it would be for anyone.
Submitted by Soeren Kern via The Gatestone Institute,
The National Front party has accused Paris Mayor Anne Hidalgo of putting the concerns of migrants ahead of those of French citizens. In a statement, the party said that the number of homeless people in Paris had increased by 84% between 2002 and 2012, but that Hidalgo has shown little interest in alleviating the problem.
Every ugly nonfarm payrolls has a silver lining, and sure enough following Friday's disastrous jobs report, global mining and energy companies rallied alongside commodities after the jobs data crushed speculation the Fed would raise interest rates this month. “The disappointing U.S. jobs report on Friday means that a summer Fed rate hike is off the table,” said Jens Pedersen, a commodities analyst at Danske Bank. “That has reversed the upwards trend in the dollar, supporting commodities on a broader basis.