United States

A security chief for the Emirate of Dubai has issued a warning over the prospects of a Donald Trump presidency in the United States. The deputy chairman of police and general security in Dubai, Lt Gen Dhahi Khalfan Tamim, took to Twitter warning  of a “clash of civilisations” if the Republican candidate wins the US election Arabian Business reports: Referencing political scientist Samuel P Huntington’s theory that future wars would be fought between cultures, Tamim warned that a Trump win could see him face ISIL leader Abu Bakr al-Baghdadi.

In response to the rising belligerence by North Korea, and its increasingly more frequent rocket launches, U.S. and South Korean troops staged a massive amphibious landing exercise Saturday, storming simulated North Korean beach defenses amid and threats by Pyongyang to annihilate its enemies.

Three senior U.S. military officials have confirmed that North Korea have lost contact with one of its submarines this week.  According to U.S. spy satellites, ships and aircraft have monitored the situation over the past week, and observed that the North Korean navy have been struggling to find the missing sub. Usni.org reports: “About week ago it went missing and the speculation is that it sank,” the official told USNI News.

In what will likely not surprise too many, The Pentagon has admitted it has deployed drones to spy over U.S. territory for non-military missions over the past decade. Confirming yet another conspiracy theory is conspiracy fact, FBI director Robert Mueller testified before Congress that the bureau employed spy drones to aid investigations, but in a "very,very minimal way, very seldom." The report concludes, "the appetite to use spy drones in the domestic environment to collect airborne imagery continues to grow."

Draghi shot his ‘bazooka’ today and the initial reaction from investors is telling, according to BofA's Michael Contopoulos. The price action in markets (equities down, US rates higher, strength in the Euro) suggests that investors focused more on the signaling of no further interest rate cuts than on the reductions in three key interest rates and the additional bond purchases.