The Spanish Civil War, Revisited: Pepe Escobar Fears "Lethal Response" From Madrid
Authored by Pepe Escobar via The Asia Times,
Puigdemont's political twist could invoke a lethal response from Madrid: suspension of Catalonia's government
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Global Stocks Hit New Record High, Dollar Mixed After Dovish Fed
In a trend observed every day this week, S&P futures are slightly in the red ahead of a post-open ramp with the VIX rising to 9.91, as Asian shares climb, European stocks are little changed. WTI crude pares recent gains, slipping below $51 after API showed an unexpected crude build. Earnings season launches with bank earnings reports from JPMorgan and Citigroup, while Economic data include PPI figures, jobless claims.
Madrid Gives Catalonia 5 Day Ultimatum To Clarify If It Declared Independence
With Spain’s prime minister having opened earlier in the day the path for Madrid to use a constitutional “nuclear option” to suspend Catalonia’s autonomy, demanding that the regional government makes clear whether it considers itself independent, moments ago Spain's Prime Minister Mariano Rajoy gave Catalan President Carles Puigdemont a five day ultimatum to clarify whether he actually declared the region's independence in his speech devoted to the highly controversial referendum, and another 3 to "rectify it."
Spanish Government Begins Process To Suspend Catalan Autonomy
In a much anticipated televized briefing, Spanish Prime Minister Mariano Rajoy formally demanded the Catalan leader clarify whether independence has been declared, saying that is needed before he can decide what steps to take. The Spanish leader announced that the central government has moved to take the first step towards suspending home rule in Catalonia on Wednesday morning.
"Cabinet has agreed to notify the Catalan government [so that it may] confirm if it has declared independence", he said.
S&P Futures Flat, Spain Rebounds, Nikkei Closes At 21 Year High
S&P500 futures point to a slightly lower open, as Asian stocks rise to trade near decade highs, with Japan’s Nikkei 225 closing at highest since 1996. European stocks are little changed, with Spanish shares gaining after Catalan President rows back from an immediate declaration of independence. MSCI's all-world stocks index briefly hit a fresh record high in opening European trading as a 1.5% jump in Spain's IBEX added to a 10-year high set by Asian shares overnight.