The dollar's slump this morning may be the start of a much larger correction, according to Bloomberg's Mark Cudmore.
It's worth paying attention to the inability of both the dollar and U.S. yields to make the most of strong U.S. data this week.
And also to the strong euro-zone PMIs and higher-than- estimated inflation prints that have boosted the euro.
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42 Years of Fractional Reserve Alchemy
Posted with permission and written by Craig Hemke (CLICK HERE FOR ORIGINAL)
Asian stocks rose, led by Hong Kong, while European shares and U.S. equity-index futures are little changed. Euro, yen climb as the dollar posted an unexpected loss following some serious fireworks out of China, which intervened in funding market to crush offshore Yuan shorts.
Top news stories include Macy’s and Kohl’s cutting their outlook after weak holiday season, Deutsche Bank exploring lending money to PE firms buying distressed loans, Apple planning to invest $1b in SoftBank’s new technology fund.
Back in October, Masayoshi Son, Chairman & CEO of SoftBank Group Corp., announced the creation of the SoftBank Vision Fund, a UK-based technology fund, with a $45 billion capital commitment form the Public Investment Fund of the Kingdom of Saudi Arabia. The initial press release for the Vision Fund announced the company expected to invest at least $25 billion over the next 5 years and said that overall funding could reach $100 billion.
Submitted by Simon Black via SovereignMan.com,
It’s amazing what can happen in a week.
Before this publication went on hiatus last week, one of the last letters I wrote to you in 2016 was about the National Defense Authorization Act and its treasure trove of freedom-killing provisions.
Section 1287, for example, creates a new agency called the “Global Engagement Center”, aka Ministry of Truth.
It has one purpose: to combat fake news.