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Frontrunning: May 20

  • Lacking new ideas, G7 to agree on 'go-your-own-way' approach (Reuters)
  • Japan's Aso tells G7 FX stability vital, no competitive devaluations (Reuters)
  • Snubbed by West, Russia rolls out red carpet for Asian leaders (Reuters)
  • The Fed Has Something to Prove to Wall Street (BBG)
  • Trump's Supreme Court list: all conservative, some provocative (Reuters)
  • Nasdaq Raises Lawsuit Threat Over SEC’s IEX Speed-Bump Plan (WSJ)
  • Credit-Card Debt Nears $1 Trillion as Banks Push Plastic (WSJ)

Futures Rise As Fed Fears Subside; Global Stocks Rebound From Six Week Lows

Futures Rise As Fed Fears Subside; Global Stocks Rebound From Six Week Lows

It will be fitting, not to mention symmetric, if stocks which yesterday closed at 7 weeks lows and red for the year, end the week the same way they started it: with a rally on no news, just more hopes that oil (which as recently as two years ago none other than Chair Yellen said said would be be "unambiguously good" if lower) will continue rising.

FBI Director Contradicts US Intelligence - "No Evidence" Of Terrorism In EgyptAir Crash

FBI Director Contradicts US Intelligence - "No Evidence" Of Terrorism In EgyptAir Crash

Even the best and the brightest within the United States are now contradicting each other on what happened to EgyptAir Flight MS804.

Earlier today, reports came out that US Intel saw evidence of an explosion, meaning a terrorist attack had taken down the flight.

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