Europe

On Friday we wrote our latest take on how the ECB's CSPP, or corporate bond buying program, in which we explained how this ECB's latest market manipulating adventure is about to crush the fundamentals of the European (and soon, courtesy of the ECB's "SPV" loophole, global) bond market. We showed how the ECB, in its latest attempt to become an even more market-moving hedge fund, is set to buy billions in corporate bonds and not just European but also international, as long as they have a European-domiciled (read Ireland or Netherland) SPV holdco.

UK Foreign Secretary Philip Hammond says that he can not rule out a combat role for British troops in Libya. British ground troops, supported by the Air Force and Navy, may go to Libya to take action against ISIS in the future, Hammond said, just days after telling MPs that no such plans were in the works. RT reports: Foreign Secretary Philip Hammond made his remarks in a Telegraph interview on Sunday. Islamic State (IS, formerly ISIS/ISIL) are seeking to turn Libya into a “bolthole” for launching attacks on mainland Europe or Western ships at sea, Hammond argued.

As DB previews, the April FOMC gathering headlines a crowded economic events calendar this week.

Ahead of two key central banks events this week, the Fed announcement on Wednesday - in which Yellen is expected to do nothing and most likely will continue the dovish relent first seen a month ago - and then the BOJ on Thursday (which also mark the anniversary of the second longest and most artificial bull market in history) where Kuroda is increasingly expected to shock with something even more ridiculous, global shares have fallen modestly around the world as oil declined on signs a global surplus of crude is likely to persist.

From the supporters of Donald Trump to the street protesters of southern Europe, voters around the world are mad as hell. Inequality, immigration, and the establishment's perceived indifference are firing up electorates in a way that's rarely been seen before. As the following charts from Bloomberg show, the forces shaping the disruption of global politics have been building for years and aren't about to diminish...

The world's middle classes are getting poorer