Russia

In yesterday's overnight market wrap, we commented that while Chinese stocks had succeeded in levitating following another massive government intervention, "the global market was far more focused with what was going on in China's currency, which as previously reported, plunged to new 5 year lows, while the spread between the onshore and offshore Yuan rose to a record wide, suggesting the depreciation in the currency is only going to accelerate from here, and a big payday for Kyle Bass is coming."

Russia and China have both ramped up their presence in Antartica in order to increase their influence in the last remaining unclaimed part of the world.  Russia are building off of existing Soviet bases in Antarctica and expanding its development of a global petitioning to rival American GPS. Businessinsider.com.au reports: Moscow has so far constructed a minimum of three satellite monitoring systems in the Antarctic, the Times reports, with future bases planned. Russia also has more long-term ambitions in the region.

Courtesy of Stratfor

A Mysterious Death Raises Questions in Russia

Intrigues within the Kremlin reignited Monday after the chief of Russia's military intelligence service, Igor Sergun, died unexpectedly. Sergun was a relatively unknown figure who kept a very low profile over his 30-year career, despite the fact that his position at the head of the Main Intelligence Directorate (GRU) of the General Staff of the Armed Forces made him one of the most powerful figures in Russian security.

Russia have named the United States as a threat against its national security for the first time, signalling deteriorating relations between the two superpowers.  President Putin signed a document entitled, “About the Strategy of National Security of Russian Federation“, and for the first time in history it lists NATO and the U.S. as potential adversaries to Russia. Reuters.com reports: It says Russia has managed to heighten its role in solving global problems and international conflicts. That heightened role has caused a reaction by the West, it says.

Turkey’s genocide of its Kurdish population in the town of Cizre, combined with Erdogan’s plans to increase his executive power in Turkey, could push NATO into a war with Russia as the Syrian conflict’s scope broadens.  Erdogan is becoming a problem for Europe amid an ongoing migrant crisis, reports journalist Michael Goldfarb.