One week after we channeled Deutsche Bank's Torsten Slok, who two years ago warned that "Canada is in serious trouble", a warning which was especially resonant after last week's rate hike by the Bank of Canada - the first since 2010 - which we argued threatens to burst Canada's gargantuan housing bubble...
... resulting in dramatic negative consequences for Canada's construction-heavy economy...
As North Korea advances toward achieving its long-term goal of developing a nuclear-armed ICBM capable of reaching the US mainland (or at least Sarah Palin's home state), a host of defectors who've managed to escape from the isolated Communist state have gathered testimonies about the North’s human-rights abuses in hopes of "optically" pushing international diplomacy to their, and the US' diplomatic advantage.
In what has been a less exciting session than the previous two, the euro retraced some recent gains as traders grew concerned they may have overestimated the ECB's hawkish bias ahead of Thursday’s rate decision; in turn the dollar edged higher after the collapse of the GOP healthcare bill sent it to the lowest since September on Tuesday.
Not even Citi could infuse any excitement in the overnight session, which its called "Purgatorial":
US Nuclear Arsenal Controlled by 1970s Computers with 8 Inch Flooppy Disks
So where does the $1 trillion annual military/security budget go?
https://www.theguardian.com/technology/2016/may/26/us-nuclear-arsenal-controlled-by-1970s-computers-8in-floppy-disks
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