United Kingdom

British Prime Minister Theresa May has raised the country's threat level to "critical" from "severe" following today's subway explosion attack at Parsons Green tube station in south-west London. A "critical" level typically means that the British government believes a terrorist attack is imminent.

Theresa May says UK terror threat level raised to critical, highest possible level, after London Tube blast https://t.co/HCBPJZo8XY pic.twitter.com/liMAODY2IV

Global stocks backed off from all time highs, and S&P futures are unchanged ahead of the much anticipated US CPI report, which is expected to break a streak of five consecutive misses, while eyeing disappointing overnight Chinese economic data which missed across the board. European stocks and Asian markets were also modestly in the red, with the relentless global rally to new daily record highs taking a breather amid some concerns China's economy is rolling over, which weighed on commodities including base metals, which in turned dragged down mining stocks.

Robbie Travers, a 21-year-old law student, is being investigated by the University of Edinburgh for claims he committed a “hate crime”.

As we detailed previoustly, sharing a comment on his Facebook page – in response to the U.S. Air Force dropping a massive ordinance air blast (or MOAB, “Mother Of All Bombs) on a network of ISIS tunnels in Afghanistan in April – Travers said:

For the first day in three S&P futures have pulled back modestly from record levels as some investors cautioned that gains had gone too far, too fast, European shares are mixed while Asian equities extended their longest rising streak in almost two months as continued gains in Japan and India offset the losses in Hong Kong. The dollar ended a two-day advance as TSY yields dropped in what has become a close correlation trade (see below) while oil and gold rose, perhaps in response to the ongoing plunge in bitcoin.

Submitted by Bill Blain of Mint Parnters

Austria 2% for 100 year bond will go down as "financial moment". Wake up and smell the coffee of economic reality

Blain’s Morning Porridge – September 13th 2017

“Hey Satan, paid my dues, playing in a rocking band...”