Authored by Saeculum Research's Neil Howe, via MauldinEconomics.com,
The two firms are aggressively scaling up and branching out: Who will rise as the rest of retail sinks?
In our "WTF Chart of the day" from last Friday, we showed something stunning: European junk bonds yields were the same, and in some cases lower, than comparable-maturity 10Y US Treasurys.
In other words, the distortion unleashed by Mario Draghi's CSPP, or corporate bond buying program unveiled last March, has made European junk bonds "safer" than US government-issued paper.
In the latest escalation between two nuclear powers (aside for the US and North Korea of course), the Indian Army has ordered the evacuation of a village close to the Doklam India-Bhutan-China tri-junction amid to a standoff between Indian and Chinese solders, India's News 18 reports.
A US Navy destroyer sailed within 12 miles of an artificial island built by China in the South China Sea on Thursday, a "provocation" that threatens another angry response from the Chinese government and further complicating President Donald Trump’s efforts to align the Communist Party in his pursuit to find a diplomatic resolution to the North Korean crisis.
European and Asian market and S&P futures have resumed their slide, as geopolitical tensions between North Korea and the U.S. spiked again overnight after Pyongyang responded to the latest set of warnings by Trump, revealing a plan to fire 4 ballistic missiles at Guam by mid-August. Gold gains for a third day while Brent rose above $53.