Bad news is once again good news... for stocks that is.
After a month and a half of markets unable to decide if they should buy or sell on ugly data, over the weekend, People’s Bank of China Governor Zhou Xiaochuan expressed faith in the economy, and said there is no basis for further Yuan devaluation, something the PBOC has said consistently over the past year, despite two sharp devaluation episodes.
Germany have begun an aggressive advertising campaign urging citizens to overcome their supposed “dark side” and embrace the current migrant crisis engulfing Europe. The propaganda billboards say, “Germany, stay strong! With humanity towards your dark side” and “Against Hate & baiting – no ifs or buts”. Breitbart.com reports: The text is written over a German flag dripping with black paint.
"Putin Uses The Refugee Crisis To Weaken Merkel", by Judy Dempsey as originally published at Carnegie Europe,
Back in December 2015, when it became clear that refugees from the Middle East would continue to head toward Germany, Chancellor Angela Merkel reassured her conservative Christian Democratic Union party that everything was under control. All she needed, she told party members, was more time. Germany could manage the influx of over 1 million refugees and asylum seekers.
Germany may be careening towards a head on-collision when it comes to Europe’s worsening migrant crisis, but tragically, the country had a very real fatal train wreck on Tuesday when two commuter trains crashed near Bad Aibling, in Bavaria.
Just before 7 a.m. two regional trains collided on a rail line which Bloomberg notes "is commonly used by commuters heading to work in Munich, and would normally also carry children traveling to school."
With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.