Europe

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

• Risk rally fades as stocks, oil slip back into the red (Reuters)
• Syrian govt. accepts halt to 'combat operations' in line with U.S.-Russian plan (Reuters)
• Earliest Chinese Data Signal Slowdown Hasn't Bottomed Out Yet (BBG)
• The Trickle of U.S. Oil Exports Is Already Shifting Global Power (BBG)
• Greek police remove migrants from Macedonian border as more land in Piraeus (Reuters)
• Clinton, Sanders race takes on angrier tone after Nevada (Reuters)
• London Whale’ Breaks Silence (WSJ)

Unlike Monday's global PMI deterioration (which sent markets around the globe soaring), there was little in terms of macroeconomic data overnight (German IFO earlier missed on expectations and business climate but beat on current assessment) so the "market made the news." These came most from the USDJPY which has continued to fall, sliding to 111.85 overnight, and dragging the Nikkei to a -0.4% drop.

Authored by Eric Zuesse,

Submitted by Adam Taggart via PeakProsperity.com,

As we've been watching closely, something is wrong with the big banks. Their shares have lost 25-33% of their market value since the beginning of the year. What's going on?

The turmoil seems greatest in Europe, where bank shares have fallen the hardest, and negative interest rates have appeared with increasingly frequency across member countries.