iPhone

According to a new global Ipsos poll, seven out of every ten people want a ban on the “dark net”. The infamous dark net has been home to everyone from drug runners to criminals to people afraid of government surveillance. Reuters reports: The findings, from a poll of at least 1,000 people in each of 24 countries, come as policymakers and technology companies argue over whether digital privacy should be curbed to help regulators and law enforcement more easily thwart hackers and other digital threats. The U.S.

• Headline of the day: Oil prices fall as investors' faith in rally wanes (Reuters)
• Europe shares, dollar gain as investors look to Yellen (Reuters)
• Chinese Bidder for Starwood Has Mysterious Ownership Structure (WSJ)
• Germany wants refugees to integrate or lose residency rights (Reuters)
• BlackRock Joins Pimco Warning Investors to Seek Inflation Hedge (BBG)
• Goldman Sachs and Bear Stearns: A Financial-Crisis Mystery Is Solved (WSJ)
• Contract Workforce Outpaces Growth in Silicon-Valley Style ‘Gig’ Jobs  (WSJ)

With Europe back from Easter break, we are seeing a modest continuation of the dollar strength witnessed every day last week, which in turn is pressuring oil and the commodity complex, and leading to some selling in US equity futures (down 0.2% to 2024) ahead of today's main event which is Janet Yellen's speech as the Economic Club of New York at 12:20pm, an event which judging by risk assets so far is expected to be far more hawkish than dovish: after all the S&P 500 is north of 2,000 for now.

Dear Tim Cook, the DoJ and FBI will no longer require your assistance in unlocking the iPhone of Syed Farook who, along with his wife Tashfeen Malik, murdered more than a dozen people at an employee holiday party in San Bernardino last December. 

• Belgium hunts 'third man' after Islamic State bombings (Reuters)
• Number of Attackers, Key Details of Brussels Assaults Remain Unclear (WSJ)
• Surviving Paris attacks suspect wants to return to 'explain himself': lawyer (Reuters)
• Brussels Suicide Bomber Slipped Terror Net (WSJ)
• Dollar rise hits commodities as Fed talks of tightening (Reuters)
• Treasuries Hold Gains Before Durable Goods, Jobless Claims Data (BBG)