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Frontrunning: February 18

  • Oil extends rally towards $35 after Iran welcomes output freeze (Reuters)
  • Overproduction Swamps Smaller Chinese Cities, Revealing Depth of Crisis (WSJ)
  • House Flipping Is Making a Comeback in Las Vegas (BBG)
  • Trump leads Republican field nationally by more than 20 points (Reuters)
  • Turkey blames Kurdish militants for Ankara bomb, vows response in Syria and Iraq (Reuters)
  • Brexit nerves knock FTSE as oil rally cools (Reuters)
  • Fed’s Kashkari: 25% Capital Requirement May Be Right for Banks (WSJ)

Biggest Short Squeeze In 7 Years Continues After Bullard Hints At More QE, OECD Cuts Global Forecasts

Biggest Short Squeeze In 7 Years Continues After Bullard Hints At More QE, OECD Cuts Global Forecasts

Just when traders thought that the biggest and most violent 3-day short squeeze in 7 years was about to end...

... a squeeze that has resulted in 3 consecutive 1%+ sessions for the S&P for the first time since October 2011, overnight we got one of the Fed's biggest faux-hakws, St. Louis Fed's Jim Bullard, who said that it would be "unwise" to continue hiking rates at this moment, and hinted that "if needed", the most natural option for the Fed going forward would be to do further Q.E.

Gov Officials Admit Turkey Has REPEATEDLY Carried Out False Flag Terror

Terror attacks have repeatedly rocked Turkey over the last year.

The government has blamed ISIS and Kurds for the attacks ... and is about to use this "justification" to launch troops into Syria.

But there is an alternative explanation.  Specifically, government officials have admitted that Turkey has repeatedly carried out false flag attacks.

For example:

Bullard Admits It's "Unwise" To Continue Rate Hikes, Says "If Needed" Will Do More QE

For the latest confirmation of just how trapped in a corner of its own making the Fed now finds itself, look, or rather read no further than the presentation given moments ago by St. Louis Fed president James Bullard before the CFA Society in St. Louis which was circular, confusing, illogical, and thus a splendid summary of the Fed's "thinking" from beginning to end.

How Far Will The U.S. Go If Turkey Invades Syria?

Submitted by Gregory Copley via OilPrice.com,

The Government of Turkey has now put itself in a position whereby it must act rapidly and precipitously to avoid moving to an ultimately losing strategic position in the war against Syria, which could result in being forced back to fight a full-scale civil war to prevent the break-up of the State into at least two components, one being a new Kurdish state.

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