Senate vote

One day after the biggest jump in stocks in two months on what has still been an undetermined catalyst, overnight global equities did a U-turn with European stocks falling toward a one-month low and U.S. stock index futures declining, as crude oil dropped toward $44 a barrel. A driver the move lower was a sharp reversal in the USDJPY which dropped 100 pips from yesterday's highs which took places just as Goldman predicted the USDJPY has finally bottomed, facilitated by a weaker dollar (also following a Goldman report yesterday forecasting the USD was about to surge).

Authored by Eric Zuesse,

A few moments on a New Hampshire debate stage last Saturday will likely go down as an historic moment in American politics. For the previous week there had been a palpable sense that the GOP establishment, desperate to coalesce behind someone to stop Donald Trump, was going to break very quickly towards Marco Rubio. Immediately after Iowa, Rubio began began scooping up endorsements from senators. There were many press reports that key players in Jeb Bush’s financial team were ready to jump—and pull their funds, and their friends, from Jeb’s flailing candidacy to Rubio.