Unlike Monday's global PMI deterioration (which sent markets around the globe soaring), there was little in terms of macroeconomic data overnight (German IFO earlier missed on expectations and business climate but beat on current assessment) so the "market made the news." These came most from the USDJPY which has continued to fall, sliding to 111.85 overnight, and dragging the Nikkei to a -0.4% drop.
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Posted with permission and written by Steve St. Angelo, SRSrocco Report (CLICK FOR ORIGINAL)
Bill Gates has urged Apple to grant the U.S. government permission to have backdoor access to their iPhone devices, saying that he agrees with the FBI’s demand to Apple to unlock the phone of one of the San Bernardino perpetrators. “This is a specific case where the government is asking for access to information. They are not asking for some general thing, they are asking for a particular case,” Gates told the Financial Times.
The recent carnage in Ankara comes at a good time for Turkish President Recep Tayyip Erdogan. Erdogan has been demanding that the United States and other NATO allies support him in his war against the Kurds of Syria, who are, incidentally, regarded as allies by Washington in the war against ISIS. The Turks have been bombarding Kurdish positions and staging special ops raids, warning the Kurds against the dangers of becoming too successful in their drive to occupy territory vacated by a retreating ISIS.
Authored by Eric Zuesse,