Europe

If anyone is still confused why the most predatory, parasitic, and in many case criminal, of HFT actors are so vehemently opposed to IEX's HFT-limiting exchange application, here is the reason. 

Back in late February, when crude prices had just hit a 13 year low, one catalyst unleashed a furious short-covering rally: a WSJ report which cited a delayed SkyNews interview with the UAE energy minister, according to which OPEC would freeze, if not cut production.

• Global Stocks Drop on Renewed Concerns About China (WSJ)
• Iron Ore's Rally Stalls as Goldman to Citigroup Forecast Retreat (BBG)
• EU and Turkey close to groundbreaking migrant deal (FT)
• Carney's `Brexit' Stance Under Fire as BOE Accused of Bias (BBG)
• Oil edges lower after Kuwait dents hopes for output freeze (Reuters)
• OECD Leading Indicators Point to Slowing Global Growth (WSJ)
• Treasuries Rally as Japan Yields Extend Record Low on Safety Bid (BBG)

The Financial System Is A Larger Threat Than Terrorism

Paul Craig Roberts

In the 21st century Americans have been distracted by the hyper-expensive “war on terror.” Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, that remain undefeated after 15 years. All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.

Those algos who scrambled to paint yesterday's closing tape with that last second VIX slam sending the S&P back over 2,000, forgot one thing - the same thing that China also ignored - central bankers can not print trade, something we have repeated since 2011.