1. Have a great weekend!
    Dismiss Notice
  2. Metals finish week on a up note.
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

R.T.M. ~ Frontrunning ~ 3rd Ed., Vol.15 ~ April 10th - 14th

Discussion in 'Coffee Shack (Daily News/Economy)' started by searcher, Apr 9, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  2. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    12,405
    Likes Received:
    12,037
    Trophy Points:
    113
    Occupation:
    Architect
    Location:
    Cow Hampshire
  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    REALIST NEWS - Soaring Global Debt Sets Stage For Unprecedented Private Deleveraging
    jsnip4



    Published on Apr 9, 2017
    Today's Playlist: https://www.youtube.com/watch?v=PuZRb...

    http://www.zerohedge.com/news/2017-04...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    Where do I buy Silver from?
    https://sdbullion.com/jsnip4

    http://www.jmbullion.com/?utm_source=...

    http://www.realistnews.net
     
  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    REALIST NEWS - Consumer Bankruptcies Jump & Commercial Bankruptcies Spike
    jsnip4



    Published on Apr 9, 2017
    Today's Playlist: https://www.youtube.com/watch?v=PuZRb...

    http://wolfstreet.com/2017/04/08/comm...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    Where do I buy Silver from?
    https://sdbullion.com/jsnip4

    http://www.jmbullion.com/?utm_source=...

    http://www.realistnews.net
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Clif High-Fed Will Crash & Fed Is the Market
    Greg Hunter



    Published on Apr 8, 2017
    Internet Data mining expert Clif High’s latest report says, ““The emotions at the moment are projecting a crash of the ability of the state to function. . . . We have the projection that there is going to be some sort of big government crash. It concerns funding, interruption or something. . . . We have something akin to a definition change relative to bonds. . . . One way to think about this is there is going to be a human collective or re-understanding, or new understanding, about the whole bond market as we go forward in August, September and October. This is going to cause huge disruptions for governments, which basically depends on the bonds as its source of funds. I don’t know what that definition is going to mean, but the way the language is presenting itself, it’s very much like the same language that appeared in newspapers ahead of the Bretton Woods conference. . . . At that time, a bunch of countries got together around WWII and talked about how to deal with gold, money and the dollar after the war was over. . . . We have that same kind of language now relative to the bonds. . . .This redefinition is going to cause real problems relative to governments. If I had to guess, I don’t think we will have a stock market crash, but a government crash or Fed crash or bank crash. I don’t think a stock market crash will be meaningful because by the time it crashes, nobody will care because before we get there, the Fed will crash. The Fed is the market.”

    Maybe this is why Clif High is also seeing language that prices are going up for things like Bitcoin, gold and silver. Clif is seeing the term “gold fever” repeatedly. He is also seeing the term “silver rush” for the white metal.

    Join Greg Hunter as he goes One-on-One with Clif High of HalfPastHuman.com.

    All Links can be found on USAWatchdog.com: http://usawatchdog.com/first-ever-glo...

    http://usawatchdog.com/donations/
     
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Futures Flat Ahead Of Yellen As Geopolitical Risks Loom; Fear Barometer Spikes

    [​IMG]
    by Tyler Durden
    Apr 10, 2017 6:38 AM


    S&P futures point to a slightly lower open, while Asian and European stocks are likewise modestly in the red. Trading volumes are muted for most markets on Monday with investors spooked by rising geopolitical tensions in the Middle East and the Korean peninsula. It is also a holiday-shortened week in much of the West. As Bloomberg puts it, there is a "sense of unease" across markets, with global stocks mixed as investors weighed looming security risks and French bonds retreating ahead of the election following the surprising surge of far-leftist Melenchon in the polls.

    The dollar inched towards three-week highs after Dudley's Friday comments and overnight follow up from a hawkish Bullard who pushed for further tightening, drawing support from U.S. rate hike expectations while global stocks, reaching the point where some see them as expensive, were stuck in neutral ahead of U.S. earnings season this week.

    Top aides to U.S. President Donald Trump differed on Sunday on where U.S. policy on Syria was headed after last week's attack on a Syrian air base, while U.S. Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea. "The risks of a conflict have certainly grown and that should keep the dollar supported against most Asian currencies with hawkish comments from the U.S. central bank also helping," said Gao Qi, an foreign exchange strategist at Scotiabank in Singapore.

    Meanwhile, with nothing but confusion coming out of the Fed, and with Bill Dudley himself saying on Friday that "some people misconstrued what I said last week", we expect the market will closely watch what Janet Yellen says today in her ad hoc Q&A at the University of Michigan, where she will take questions from Twitter. Expect many questions on the Fed's balance sheet normalization plans, as well as her thoughts on the future rate hikes, and - with unemployment tumbling to 4.5% without boosting inflation - NAIRU.

    The Bloomberg Dollar Spot Index rises for the third day to touch the highest level in over three weeks as Treasuries trade steady before Janet Yellen’s speech

    Global stocks have traded flat over the past month as investors after the 10 percent rise since last November's lows has taken valuations above long-term averages. The MSCI AC World index trades at 16 times forward earnings, compared to a 15-year average of about 14 times.

    S&P 500 futures advanced in early trading, then dipped back to unchanged as an American aircraft carrier bound for Australia was diverted to North Asia, sparking a selloff in South Korea on speculation the U.S. could take a more aggressive stance against Kim Jong-Un. French bonds fell, widening the yield spread over Germany to the highest since February after polls showed the country’s presidential election is becoming a four-way contest. European stocks traded mostly sideways as equities in France gave up ground. pushing the Stoxx Europe 600 Index some 0.2% lower even as shares of mining major BHP Billiton jumped more than 5 percent after activist hedge fund Elliot Management urged the company to pursue a spin-off of its U.S. business.

    The MSCI All-Country World Index fell 0.1 percent.

    The euro edged lower and France's borrowing costs hit their highest level over Germany in six weeks as investors fretted over the rise of far-left candidate Jean Luc Melenchon in polls before this month's presidential vote. Melenchon's emergence over the past week has raised the possibility that he will square off against far-right leader Marine Le Pen in the decisive second round in May, making the final result far more unpredictable.

    France's bond yield spread over Germany hit 70 basis points in early trading on Monday, its highest since Feb. 27. "The market is focusing a bit too much on the extreme possibilities, but I guess with the elections coming up so soon some nerves are inevitable," said DZ Bank strategist Christian Lenk. "But at the end of the day I think (the second round) will be Macron versus Le Pen."

    The Credit Suisse fear barometer, unlike the VIX, has been creeping steadily higher since the election, and is now at the highest since Trump's presidential victory.

    [​IMG]

    Some more thoughts from Bloomberg which notes that "while moves show demand for havens assets abating as financial markets attempt to shrug off Friday’s disappointing U.S. employment figures, a ratcheting up of geopolitical tensions and Europe’s looming test of populism look set to curtail optimism. Corporate results may provide the next fresh catalyst - they’ll accelerate this week with earnings due from the likes of JPMorgan Chase & Co., Tesco Plc and Prada SpA."

    "Geopolitics trumps economics as the main market driver, with strained U.S.-Russian relations and the dispatch of a U.S. aircraft carrier towards the Korean peninsula making the headlines," Kit Juckes, a global strategist at Societe Generale, wrote in a note. "This week, it will be geopolitics and events outside the U.S. which drive markets."

    In commodities, oil prices rose, supported by strong demand and uncertainty over the conflict in Syria, although another run-up in U.S. drilling activity kept a lid on gains. Brent crude futures, the international benchmark for oil prices, were up 0.7 percent at $55.63 per barrel. U.S. West Texas Intermediate crude futures were up 0.6 percent at $52.55 a barrel. Spot gold was little changed.

    Overnight Media Digest from RanSquawk
    • European bourses trade modestly lower amid mounting geopolitical tensions as the holiday-shortened week begins.
    • GE-FR spread widens as support for left-wing candidate Melenchon surges.
    • Looking ahead, highlights include comments from ECB's Constancio and Fed Chair Yellen
    Market Snapshot
    • S&P 500 futures up 0.1% to 2,354.50
    • STOXX Europe 600 down 0.2% to 380.76
    • MXAP down 0.05% to 146.39
    • MXAPJ down 0.1% to 478.73
    • Nikkei up 0.7% to 18,797.88
    • Topix up 0.7% to 1,499.65
    • Hang Seng Index down 0.02% to 24,262.18
    • Shanghai Composite down 0.5% to 3,269.39
    • Sensex down 0.3% to 29,631.01
    • Australia S&P/ASX 200 up 0.9% to 5,912.88
    • Kospi down 0.9% to 2,133.32
    • German 10Y yield fell 0.4 bps to 0.224%
    • Euro down 0.1% to 1.0578 per US$
    • Brent Futures up 0.7% to $55.65/bbl
    • Italian 10Y yield fell 4.9 bps to 1.926%
    • Spanish 10Y yield rose 0.2 bps to 1.616%
    • Gold spot down 0.1% to $1,253.29
    • U.S. Dollar Index up 0.07% to 101.25
    Overnight News
    • Barclays’s Staley Faces Probe, Bonus Cut Over Whistleblower
    • BHP Urged by Elliott to Spin Off U.S. Oil Unit in Overhaul
    • Stada Accepts $5.6 Billion Takeover Offer From Bain, Cinven
    • Fresenius SE Confirms Talks With Akorn for Potential Purchase
    • South32, GE in 3-Yr Partnership for Digital Tech to Support Ops.
    • BioTelemetry to Buy LifeWatch AG for CHF260m in Cash, Stock
    • Swift Set to Announce Merger With Knight Transportation: WSJ
    • Intrawest Said to Near Sale to KSL-Backed Operator: Reuters
    • McCormick Said Considering Bid for Reckitt Brands: Telegraph
    • Apple Warns Vietnam Stores About Logo Violations: Tuoi Tre
    • Ford CEO Says Glad to See Trump-Xi Meet, Optimistic on Relations
    • N.Y. Agency Denies Permit for Proposed Northern Access Pipeline
    • Morgan Stanley Targets 2017 Return on Equity 9%-11% Range
    Asia equity markets traded mixed following the subdued Wall Street close on Friday where participants digested the US strike on Syria and NFP, as well as the fireworks in the Eurodollar complex. ASX 200 (+0.8%) rose above the 5,900 to post a 2-year high amid upside in financials and energy, with the latter buoyed after WTI broke back above USD 52/bbl, while Nikkei 225 (+0.7%) advanced after the JPY weakened against its major counterparts. Hang Seng (-0.1.) and Shanghai Comp. (-0.5%) saw lacklustre trade after the PBoC continued to refrain from open market operations, while KOSPI (-0.9%) underperformed on increased geopolitical concerns after the US deployed an aircraft carrier group in the Korean peninsula as a show of force. Finally, 10yr JGBs were marginally lower amid spill-over selling from USTs and after the BoJ refrained from a Rinban announcement, while the curve steepened amid underperformance in the super-long end.

    Top Asian News
    • HNA to Offer $1 Billion for CWT in Deal to Add Logistics Network
    • Hong Kong Concerned About Risks From Developer Mortgages
    • Indonesia Bad Loan Problem to Worsen, Bank Bailout Chief Says
    • Google’s AlphaGo AI Takes on China After South Korean Triumph
    European equities have started the week on the back foot in what could potentially be a quieter week given the upcoming market holidays and lighter economic calendar. That said, geopolitical concerns continue to remain at the forefront of investor sentiment amid weekend reports of North Korea criticising the US response to last week's chemical weapons attack in Syria with the US subsequently deploying an aircraft carrier to waters near the Korean peninsula. In terms of a sector breakdown, materials, pharma and financial names outperform with equity specific news relatively light for a Monday morning. That said, headlines have mounted around Barclays amid reports that their CEO is under investigation by NY and London regulators, nonetheless Co. shares have managed to brush off any selling pressure at this stage. From a fixed income perspective, trade has been relatively uneventful thus far with Bunds modestly supported by the general risk sentiment. Aside from the German benchmark, French paper has seen some selling pressure as commentators continue to contemplate the recent rise of left-wing candidate Melenchon following a relatively successful performance in TV appearances and campaign rallies. In peripheral markets, the SP-GE spread is modestly wider this morning while Italian paper has pulled away from recent contract highs with investors also eyeing the Italian government approving a budget adjustment of EUR 3.4bIn tomorrow.

    Top European News
    • French Election Becomes a Four-Way Race as Melenchon Surges
    • Agrokor Bonds Slump to Record as Company Starts State Revamp
    • Croatia Names Consultant Ramljak to Lead Agrokor Restructuring
    In currencies, the Bloomberg Dollar Spot Index rose less than 0.1 percent at 10:30 a.m. in London, after advancing 0.3% on Friday. The euro was little changed. A very quiet morning in FX, with little of major significance to trade off, with the short week into the Easter break keeping volumes to a minimum. We have seen some EUR/GBP selling going through, pushing the cross rate back into the lower 0.8500's, but as we saw last week, we ran into some decent buying interest here. Even so, the move has pushed Cable back to 1.2400, but with minimal traction through this level as we now see previous support turning into resistance. A cluster of EUR/USD support seen below 1.0600 also helps prop up the cross rates, and for now, 1.0570 represents the low for the day. With the upcoming French elections set to pressure the single currency in the meantime, there is unlikely to be any major push higher, especially with ECB members 'underlining' the current accommodative policy stance. Earlier today, the Apr Sentix investor confidence index rose from 20.7 to 23.9. USD/JPY has struggled into the mid 111.00's, and despite Friday's ramp up in Treasury yield post payrolls, risk aversion hangs in the air to keep the JPY supported to a degree for now. Cross JPY also heavy, with EUR/JPY an attractive sell given the above.

    In commodities, West Texas Intermediate crude rose 0.7 percent to $52.59 a barrel, after climbing more than 1 percent in each of the previous two sessions. WTI has gained for five straight days, the longest winning streak of the year. Iron ore futures slipped 2.1 percent after falling into a bear market on Friday. Gold was fractionally lower at $1,253.20 per ounce. The bid tone in Oil prices can be largely put down to the US airstrikes on Syria, prompting fresh tensions over the region, WTI has been driven back into the middle of the USD50-55 range, but given some of the correlation trades, ie CAD, there seems to be caution over whether these gains can be held in the face of high inventory. Elsewhere, supply issues continue to hamper base metals, along with conflicting reports/views on demand. Copper has slipped back towards USD2.60, but has held so far. Gold prices are back to more familiar levels as last week's events late in the week led to a rally to just above USD1270.00. USD1245.00 should provide support in the interim as risk sentiment remains in the balance. Silver is trading back under USD18.00 again.

    US Event Calendar
    • 10am: Labor Market Conditions Index Change, est. 1, prior 1.3
    • 4pm: Fed’s Yellen Speaks at University of Michigan
    DB's Jim Reied concludes the overnight wrap

    It'll probably be a quiet week due to the holidays but there are a few important things to look out for. As you'll see in the week ahead there's a lot of global inflation numbers ahead. We think inflation has overtaken employment across the world as the key variable for the pace of monetary stimulus removal. Also this week, JPM, Citi and Wells Fargo kick off bank reporting in the US on Thursday and today we have the first post tapering CSPP numbers which we'll preview below.

    With regards to the weekend news, much of the focus has been on the outcome of the meeting between US President Trump and China President Xi Jingping. The main thing to note was some progress on agreeing to balancing bilateral trade. Indeed our China economist Zhiwei Zhang notes that the two sides agreed to work on a plan in the next 100 days to address trade imbalances and improving US companies’ market access to China, particularly in the services industry. He suggests that it may also involve cutting China’s export tax rebates and reducing import tariffs, although this is less important in Zhiwei’s mind.

    Zhiwei also notes that the subject of North Korea remains contentious and it was clear that the US gave a strong signal that they may chart their own course if China does not coordinate with the US on the issue. On that subject, US Secretary of State Rex Tillerson said over the weekend that the US isn’t interested in a “regime change” in North Korea. This follows the news that a US aircraft carrier was diverted to waters off the Korean Peninsula.

    Markets were actually fairly resilient on Friday in the face of rising geopolitical tensions and as you’ll see shortly, a well below market nonfarm payrolls reading. This morning in Asia it’s been a fairly mixed start for equity markets. While the Nikkei (+0.65%), Hang Seng (+0.08%) and ASX (+0.71%) are all higher, the Shanghai Comp (-0.25%) and Kospi (-0.77%) are both in the red. The Korean Won (-0.65%) has also been the worst performing currency this morning, reflecting perhaps the fact that the Trump-Xi summit failed to really produce a clear result about North Korea.

    Back to payrolls, March’s 98k number (vs. 180k expected) also came with a cumulative 38k of downward revisions attached to the prior two months, while the March figure was the lowest since the 43k reading last May. Private payrolls also came in at a soft 89k (vs. 170k expected). All the chatter though was about the impact of winter storm Stella being responsible for the soft reading. Indeed the household survey was not impacted by the storm with hiring jumping 472k and the most since February last year. Our US economists also note that 3.1m people reported that they could not work a full work week because of “bad weather”. Significantly, the jump in household employment and a decline in the number of people unemployed pushed the unemployment rate down two-tenths to 4.5% (vs. 4.7% expected) and the lowest since May 2007. Wage pressure remains subdued however with average hourly earnings increasing +0.2% mom as expected and so making them up just +2.7% over the past 12 months. Its worth noting that our US economists saw nothing in the March employment report to suggest any change in the monetary policy outlook and continue to forecast for a 25bp hike in June and September, with policy then remaining unchanged in December.

    Speaking of forecasts, our US fixed income strategist Dominic Konstam noted in his weekly over the weekend that he is now revising his rates’ forecasts lower on the basis that the bear market that he had expected to continue through 2017 seems to be on hold mainly due to the lack of progress on structural tax reform, and his expectations that this doesn’t change anytime soon. He notes that his fair model indicates that 10y yields should be around 2.25% in the near term and he now expects a move towards 2.75% by year end, reflecting at least some progress on the tax front.

    Moving on. Perhaps the most interesting stat today will be the ECB CSPP number which will include 3 days worth (out of 5) of settled secondary purchases under the new tapering regime. A big debate has been as to whether they taper CSPP in line with the PSPP or leave it running at a similar pace. Obviously the latter would be very good for credit technicals. For choice I think they do taper CSPP. We won't know for sure today but we'll perhaps get some clues in the size of the purchases. The last two weeks have seen daily numbers of EU335m and 308m respectively down from the average of 365m since the program started so there's a little clue here that they have been scaling back a touch. We also have to adjust for the slightly below 20% of primary in the number which due to longer settlement periods won't be under the new regime in today's number. So an interesting release to follow this afternoon.

    Quickly wrapping up Friday's session. As we highlighted above markets were fairly resilient in the face of both the geopolitical headlines which hit early Friday morning and then a well below market payrolls print. Equity markets chopped and changed but the S&P 500 (-0.08%) and Dow (-0.03%) only closed with very modest losses while prior to this in Europe the Stoxx 600 (+0.13%) staged a late bounce into the close. This was also despite some sharp moves across commodities. WTI Oil continued its impressive climb from the lows after finishing higher (+1.04%) for the fourth day in a row and above $52/bbl for the first time since March 7th. The bigger moves came in base metals however with Iron Ore slumping nearly 7% while Copper (-0.41%), Zinc (-1.32%) and Lead (-1.92%) also fell sharply.

    Over in rates Treasury yields crept higher with 10y yields rising 4.1bps to close at 2.383%, while the US Dollar index also closed up +0.51% and back at the highest level in nearly a month. That in part seemed to reflect some comments made by the NY Fed President Dudley. Speaking to an audience in New York, Dudley seemingly sought to clarify some of the comments he made the week prior when he suggested that the Fed might be prompted to make a “little pause” in the hiking cycle when it begins its process of reducing the balance sheet. Dudley said that “presumably at the time that you make the decision on the balance sheet you might want to forgo the decision on short-term rates just to make sure that the balance sheet decision doesn’t turn out to be a bigger decision than you thought you were making”. With that he also said “so I would emphasize the words little pause”. Dudley also made a few comments on financial regulation. Specifically he said that he thinks its “time to rethink major Wall Street regulations, including the Volcker Rule and the Fed’s annual stress tests of banks, now that almost a decade has passed since the financial crisis”.

    In Europe the main data of note was the various industrial production reports. In Germany IP surprised to the upside after printing at +2.2% mom in February (vs. -0.2% expected) thanks to a big surge in construction spending. In contrast IP declined -1.6% mom in France (vs. +0.5% expected) while in the UK IP was also reported as declining (-0.7% mom vs. +0.2% expected).

    Staying in Europe, it’s worth quickly updating the latest on the French presidential polls where the most notable shift has been the recent rising support for Melenchon. A Kantar Sofres Poll from the weekend showed Macron and Le Pen tied at 24% in the first round however Melenchon has now seen his support rise to 18% and putting him 1% ahead of Fillon. Melenchon’s support is now up about 6% from mid-March. While there is still a gap to the top 2 candidates in the first round it’s worth seeing if the positive momentum for Melenchon continues and whether the gap gets closed at all.

    To the week ahead now. This morning in Europe the only data of note is the Bank of France business sentiment reading and Sentix investor confidence reading for the Euro area. Over in the US the sole release is the labour market conditions index reading for March. Tuesday kicks off in the UK where we will get the March CPI/RPI/PPI data docket, while Euro area industrial production for February and the April ZEW survey for the Euro area will also be closely watched. Over in the US tomorrow data includes the NFIB small business optimism reading for March and JOLTS job openings in February. Japan gets things going on Wednesday where PPI and machine orders data is due out, while shortly after we’ll get the March CPI and PPI prints in China. During the European session the focus is likely to be on the UK again with the February and March employment indicators due out. In the US the only data is the March import price index and March monthly budget statement. Thursday looks set to be an important morning for data in China with the March trade numbers due out. In Europe we are due to do get CPI reports in Germany and France along with the BoE credit conditions and bank liabilities surveys in the UK. In the US the calendar finally picks up with initial jobless claims, March PPI and the preliminary University of Michigan consumer sentiment reading all due. As a reminder, Friday is Good Friday with equity markets closed in the US and most of Europe (Treasury market shuts at midday too) however there is some important data due in the US still with the March CPI report and also March retail sales data and February business inventories.

    Away from the data, the only Fedspeak this week is from Fed Chair Yellen this evening when she is due to speak at the University of Michigan (with Q&A expected) and then Kashkari on Tuesday. Away from that, the IMF is due to release the analytical chapters from its April 2017 World Economic Report today. The ECB’s Constancio is also due to present the ECB’s annual report to an EU parliamentary committee today. With regards to earnings, JP Morgan, Citigroup and Wells Fargo all report on Thursday.

    http://www.zerohedge.com/news/2017-...geopolitical-risks-loom-fear-barometer-spikes
     
  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Frontrunning: April 10

    [​IMG]
    by Tyler Durden
    Apr 10, 2017 7:34 AM

    • Euro hovers above one-month low as French election nerves grow (Reuters)
    • French Election Risk Reawakens as Bonds Drop, Volatility Jumps (BBG)
    • Hopes fade for U.S. bank earnings despite rally in financial shares (Reuters)
    • Skepticism Grows About Higher Fed Rates Helping Banks’ Margins (BBG)
    • Record Bond Issuance Signals Doubts About Economy (WSJ)
    • Price for Tax Overhaul Makes Bipartisan Deal Unlikely (WSJ)
    • Congress Sinks Into Partisan Morass as Shutdown Threat Looms (BBG)
    • Trump considers trade order that could lead to duties (Reuters)
    • Amazon.com’s Third-Party Sellers Hit By Hackers (WSJ)
    • Nothing Normal About America’s Freakish Winter Weather (BBG)
    • Hedge fund wants to unify BHP's corporate structure, split off U.S. oil (Reuters)
    • U.S. to hold accountable those who commit crimes against 'innocents' (Reuters)
    • Kremlin says Tillerson not meeting Putin (Reuters)
    • South Carolina church shooter to plead guilty to murder in state court (Reuters)
    • Corporate Pension Funds About to Become Huge Players in Bond Markets (BBG)
    • Scarcity effects of QE: A transaction-level analysis in the Bund market (BIS)
    • Rage at abandonment by the state as Egypt's Christians dig graves after bombing (Reuters)
    • Pakistani court sentences accused Indian spy to death (Reuters)
    • Wall Street Cop Said to Purge Contractors as Budget Fight Looms (BBG)
    • Two Indonesians face 100 strokes of cane if found guilty of gay sex (Reuters)
    • What Do You Do With Half a Million Rigged VWs? (BBG)

    Overnight Media Digest

    WSJ

    - Top U.S. officials dialed up their criticism of Moscow and blasted Syrian leader Bashar al-Assad Sunday, heightening tensions in advance of Secretary of State Rex Tillerson's visit to Russia this week. http://on.wsj.com/2nYMBZX

    - Twin blasts claimed by Islamic State struck Egyptian churches during Palm Sunday services, killing at least 47 people in an escalating campaign of terrorism against the country's Christian population. http://on.wsj.com/2oRYzs9

    - Mondelez International Inc is preparing to look for a successor to its chief executive, Irene Rosenfeld, as the snack giant faces pressure from restive shareholders and the broad shift to healthier eating habits. http://on.wsj.com/2nvub6I

    - Chinese conglomerate HNA Holding Group Co said Sunday it has made an offer to buy all the shares of Singapore-listed logistics and warehousing firm CWT Ltd , the latest in a series of deals by the Chinese company. http://on.wsj.com/2oedeLm

    NYT

    - The British regulator will rule next month on whether 21st Century Fox can buy the rest of Sky, the British satellite and news giant. http://nyti.ms/2nSx3WT

    - China's anti-corruption investigators are targeting the country's top insurance regulator, throwing doubt over an industry that has been behind a wave of blockbuster global deals but has raised concerns about financial risk in the world's second-largest economy. http://nyti.ms/2nSjI0D

    - Secretary of State Rex W. Tillerson is taking a hard line against Russia on the eve of his first diplomatic trip to Moscow, calling the country "incompetent" for allowing Syria to hold on to chemical weapons and accusing Russia of trying to influence elections in Europe using the same methods it employed in the United States. http://nyti.ms/2nSyncd

    - 21st Century Fox has enlisted the law firm Paul, Weiss, Rifkind, Wharton & Garrison to investigate at least one accusation of sexual harassment against Fox News host Bill O' Reilly. http://nyti.ms/2nST33E

    Canada

    THE GLOBE AND MAIL

    ** Bombardier Inc appears unable to shake off public anger over hefty pay packages to its senior executives. Protesters gathered outside Premier Phillippe Couillard's Montreal offices on Sunday to protest how the executives are compensated. https://tgam.ca/2pl2kmc

    ** Oxford Properties Group and technology startup accelerator OneEleven are aiming to turn Toronto into the next San Francisco with Union Park, a long-term redevelopment of Front Street meant to transform it into a downtown innovation cluster. https://tgam.ca/2pkI9oL

    ** The British Columbia election battle for seats in one of the province's fastest-growing cities is under way with both major parties Sunday promising cuts or elimination of tolls on a major Surrey bridge. https://tgam.ca/2pkTEwn

    NATIONAL POST

    ** Most aboriginal communities in northern British Columbia impacted by the Northern Gateway pipeline supported the C$7.9 billion ($5.90 billion) project and are angry Prime Minister Justin Trudeau rejected it, say representatives of three First Nations. http://bit.ly/2pkTrJj

    ** Looking to boost revenues and create a pipeline of future international students, some British Columbia universities are turning to a novel idea - letting Chinese companies open private high schools on their campuses. http://bit.ly/2pkVP31

    Britain

    The Times

    * Shaftesbury, the owner of large chunks of Soho and Covent Garden, is braced for a bid from a reclusive Hong Kong billionaire, Samuel Tak Lee, who has yet to meet the company. http://bit.ly/2onmJd8

    * Lloyds would not have gone ahead with the disastrous deal to save HBOS if the failed bank's managers had admitted what they knew about the huge fraud at its Reading branch, according to confidential documents. http://bit.ly/2onr1RW

    The Guardian

    * More than a quarter of a million customers of payday loan firm Wonga are being warned that their personal data may have been stolen in a data breach at the firm. http://bit.ly/2ont4W7

    The Telegraph

    * U.S. based TSG Consumer Partners splashed out 213 million pounds for a 22 percent holding in Scotland-based brewer Brewdog, valuing the business at almost 1 billion pounds. http://bit.ly/2onzmVM

    * Thailand based Minor International, which has 140 hotels largely in Asia, said the fall in the value of the pound had made the company more determined to find a site for its first UK hotel. http://bit.ly/2nRlUW5

    Sky News

    * Associated British Foods has appointed headhunter Spencer Stuart to identify a successor to Charles Sinclair, who has led the company for exactly eight years, according to Sky News. http://bit.ly/2nQZBjs

    * Drax Group, which operates the Yorkshire coal-fired power plant of the same name, is braced for substantial opposition to its 2016 pay report at its annual meeting on Thursday, according to Sky News. http://bit.ly/2nR9Owk

    The Independent

    * The U.S. Department of Labour has accused internet giant Google of not paying women employees the same as men. http://ind.pn/2onDjtw

    http://www.zerohedge.com/news/2017-04-10/frontrunning-april-10
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    REALIST NEWS - US Economy in Its Own Catch-22 (AWESOME Article from 2011)
    jsnip4



    Published on Apr 10, 2017
    Today's Playlist: https://www.youtube.com/watch?v=NWbUp...

    http://www.minyanville.com/businessma...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
    QR Code: https://www.realistnews.net/QRCode.png

    Where do I buy Silver from?
    https://sdbullion.com/jsnip4

    http://www.jmbullion.com/?utm_source=...

    http://www.realistnews.net
     
  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  13. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  14. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Asian Metals Market Update: Apr-10-2017
    By: Chintan Karnani, Insignia Consultants
    Gold and silver have in fact fallen despite the war. Traders are used to it. A much lower than expected US march job numbers failed to lift gold and silver. This is disappointing. I am against taking fresh long positions in gold and silver unless it breaks $1280 and $1860 respectively. Traders have started factoring a June interest rate hike. Yellen and other Federal Reserve speeches need to be ignored for the time being. Industrial metals should remain firm.
     
  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Rogue Mornings - Signaling, Show of Strength or Regime Change (04/10/2017)
    ROGUE MONEY



    Streamed live 2 hours ago
    "V" and CJ share the vast reporting of information regarding President Trump's actions in Syria and share their perspectives on the road ahead.

    We are political scientists, editorial engineers, and radio show developers drawn together by a shared vision of bringing real news through digital mediums that evangelize our civil liberties.

    Please subscribe for the latest shows daily!

    http://www.roguemoney.net
    https://www.facebook.com/ROGUEMONEY.NET/
    https://twitter.com/theroguemoney
     
  16. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  17. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Safe Havens Rise As Jittery Investors Eye Rising Geopolitical Concerns

    [​IMG]
    by Tyler Durden
    Apr 11, 2017 6:40 AM


    With volume starting to fade ahead of Friday's holiday, and geopolitical concerns growing as a US aircraft carrier approaches North Korean, S&P futures pointed to a slightly lower open, in line with stock markets in Europe and Asia. Safe havens such as gold and treasuries strengthened along with Japanese yen, which erased all of yesterday's losses and neared its 110 support on investor caution about global security risks and the future of U.S. interest rates after Yellen's Monday speech failed to provide clarity.

    "I think we have a healthy economy now," Yellen said at an event at the University of Michigan's Ford School of Public Policy in Ann Arbor and confirmed that the “appropriate stance of policy is now closer to, let me call it neutral” and that “we want to be ahead of the curve and not behind it”.

    "Whereas before we had our foot pressed down on the gas pedal trying to give the economy all the oomph we possibly could, now allowing the economy to kind of coast and remain on an even keel -- to give it some gas but not so much that we are pressing down hard on the accelerator -- that’s a better stance of monetary policy," she said.

    Yellen also suggested that inflation is still below 2% in her estimation. Yellen also voiced some concern about the Fed’s independence being under threat, referring specifically to two bills put forth in Congress and legislation that would require the Fed to follow a simple mathematical rule in setting interest rates and any deviation from it would result in calling in the General Accounting Office to conduct audits.

    Crude oil ended this year’s best run, and was modestly lower in early trading.

    Haven assets were bid after Sean Spicer issued a warning to Syria not to use barrell bombs while tensions over North Korea rumbled on, while in Europe the recent surge in far-left candidate Melenchon has changed the French presidential election calculus materially in recent days, sending the spread between French and German 10Y blowing out again, helped by yesterday's Goldman downgrade of French OATs.

    [​IMG]

    Bond yields fell after Federal Reserve Chair Janet Yellen confirmed the central bank has shifted gears from post-crisis healing to sustaining economic gains according to Bloomberg. Oil dropped after five days of gains although that may reverse should API and EIA data due over the next two days show a decline in stockpiles from record highs. Gold hit its highest since November.

    "It's a relatively modest reaction but there is a lot of geopolitical risk in global markets at the moment," said TD Securities European head of currency strategy Ned Rumpeltin.

    A quick recap of the latest geopolitical news:
    • China has deployed 150K troops in order to deal with the possible North Korean refugees over fears that Trump may strike Kim Jong-un following the missile attack on Syria.
    • North Korea vowed to take toughest counteraction against US after the US deployed the USS Carl Vinson to the Korean peninsula.
    • China and South Korea have agreed to place "strong" new sanctions on North Korea if it conducts further nuclear or long-range missile tests, according to a South Korean official.
    • U.S. Secretary of State Rex Tillerson will visit Moscow this week in an effort to persuade Russia that its alliance with Assad is no longer in its strategic interest.
    • The G-7 foreign ministers hold a news conference after a two-day meeting in Lucca, Italy.
    As Richard Breslow commented earlier, confused traders not only have to cope with monetary tightening in the world’s biggest economy and the prospect of an unwinding central bank balance sheet, they’re also weighing President Donald Trump’s unpredictable foreign policy.

    “Flight to safety drives the global markets, as geopolitical concerns occupy the global headlines with North Korea’s missile tests and growing threat against the U.S., the U.S.’s strike on Syria and Jean-Luc Mélenchon gaining support in the French election,” Ipek Ozkardeskaya, a market analyst at London Capital Group Ltd., wrote in a note.

    Looking at global markets, the MSCI All-Country World Index was little changed. Volumes in markets are down in a week that’s shortened in many countries by Easter holidays. Chinese equities traded in Hong Kong fell to a one-month low while Japan’s Topix slipped as the yen gained. Shares in Seoul extended the longest losing streak since June as tensions over both Syria and North Korea remain in focus. S&P 500 futures were unchanged at 6:30am ET. The index climbed less than 0.1% on Monday, even as the VIX, rose to the highest level this year.

    The Stoxx Europe 600 Index dropped less than 0.1 percent, after a four-day rally to the highest since December 2015. European stocks were also subdued and looked to be heading for a second day in the red as an early attempt at a move higher quickly fizzled. Tech stocks were the biggest sectoral losers as broker downgrades sent chipmaker Dialog Semiconductor and AMS (AMS.S) tumbling 18% and 7.5%. Banking stocks also dropped with Spain's Banco Popular (POP.MC) down over 5 percent after the bank said that it was considering another capital hike and would consider a merger.

    German Bunds yields dipped below 0.20% for the first time in more than five weeks while French yields rose to a one-week high of 0.96% leaving the spread between to two at its biggest in six weeks.

    "After Britain's Brexit referendum and the U.S. presidential election surprised markets in 2016, could this event do the same?," Mark Burgess, global head of equities at Columbia Threadneedle in London, wrote in a note.

    Gold was the main beneficiary of the cautious mood, with the precious metal up at its highest since November at $1,256 an ounce and advancing for the sixth day in the last eight. Oil retreated from five-week highs hit earlier in the session meanwhile, as concerns about rising U.S. shale production offset a shutdown at Libya's largest oilfield over the weekend and the U.S. strikes against Syria that had supported prices. Brent fell 10 cents to $55.89, breaking a six-session winning streak, while U.S. crude pulled back 14 cents to $52.95 a barrel, after rising for the previous five sessions.

    Market Snapshot
    • S&P 500 futures down 0.1% to 2,349.70
    • STOXX Europe 600 down 0.06% to 381.03
    • MXAP down 0.09% to 146.47
    • MXAPJ down 0.2% to 478.02
    • Nikkei down 0.3% to 18,747.87
    • Topix down 0.3% to 1,495.10
    • Hang Seng Index down 0.7% to 24,088.46
    • Shanghai Composite up 0.6% to 3,288.97
    • Sensex up 0.6% to 29,752.46
    • Australia S&P/ASX 200 up 0.3% to 5,929.27
    • Kospi down 0.4% to 2,123.85
    • German 10Y yield unchanged at 0.208%
    • Euro up 0.05% to 1.0601 per US$
    • Italian 10Y yield rose 2.1 bps to 1.947%
    • Spanish 10Y yield fell 0.7 bps to 1.606%
    • Brent Futures down 0.3% to $55.83/bbl
    • Gold spot up 0.2% to $1,257.23
    • U.S. Dollar Index down 0.1% to 100.92
    Top Overnight News from Bloomberg
    • U.S., Allies Show Unity on Syria Before Tillerson Moscow Visit
    • Toshiba Warns of Its Ability to Continue as Going Concern
    • Dialog Semiconductor Shares Tumble After Analyst’s Apple Warning
    • Le Pen Faces Trump’s KKK Quandary With Extremist Supporters
    • MTS Probe Finds Misconduct in China Unit; 2017 EPS View Trails
    • Circassia Says FTC Approves AstraZeneca Deal
    • Bristol’s Cancer Drug Opdivo Is Too Expensive: U.K.’s NICE
    • Seadrill’s North Atlantic Gets Conoco Rig Contracts for $1.4b
    • BHP Billiton Said to Work With Goldman Sachs on Elliott Defense
    • Billionaire Eurnekian Said to Hire Lazard to Help Itau Sell TGN
    • PPG Offer for Akzo Nobel Is ‘Unacceptable’, FD Cites Akzo CEO
    • LG Display Says No Details Decided on Google OLED Investment
    • Ford to Add Five All-New SUVs to North American Lineup by 2020
    • Uber Must Give Waymo Documents Levandowski Wants Sealed: Judge
    Asia equity markets traded with a muted tone as geopolitical news continued to be in focus following reports that the US hold open the possibility for future action in Syria and with North Korea vowing to take the toughest counteraction against the US following its carrier deployment to the Korean peninsula, while China had amassed 150K troops on the North Korean border which was later reported to be to a deal with possible North Korean refugees. Fears were evident as safe-haven flow was apparent with the stronger JPY weighing on the Nikkei 225 (-0.3%), while sentiment in China was mixed with the Shanghai Comp. (+0.6%) higher and Hang Seng (-0.9%) negative after the PBoC continued to refrain from liquidity injections. ASX 200 (+0.3%) took the spotlight in the day's session, as the index extended on gains above 5,900 to approach close to a 9-year high with the materials driven index buoyed by Rio Tinto, which is up over 2% on the day, while gains across the energy sector also underpinned the index. Finally, JGBs was mildly supported as the flight to safety has been the theme, with the Japanese lOy yield pressured as a result to below 0.05% and print its lowest since January 2017. PBoC refrained from conducting open market operations today for a daily net drain of CNY 20bIn.

    Top Asian News
    • China March Retail Auto Sales Rise 1.6% on Year, PCA Says
    • China H Shares Slide to One-Month Low Amid Regulation Worries
    • Fed Rate Hikes Raise Risks for Asian Nations Swimming in Debt
    • China Seen Allowing Bigger Yuan Declines as Trade Tensions Ease
    • Top Korea Presidential Candidate Open to Talks With Kim Jong Un
    • Singapore Revokes One Asia Investment’s Capital Markets Permit
    • World Bank Says Philippines to Remain Top Performer in East Asia
    European indices trade broadly lower this morning (Eurostoxx 50 down as much as -0.4%) as risk off sentiment filters through to Europe from Asian trade amid increased global tension. As well as the global tension, markets are also being weighed on due to concerns over the upcoming earnings season, light volumes ahead of Easter and a touted delay to the delivery of any tax reform in the US. There has also been volatility on a stock specific basis with German listed Dialog shedding over 20% of their share price after a note from Bankhaus Lampe suggested Apple may drop the chip maker and instead produce their own; elsewhere luxury name LVMH are among the best performers today after a stellar revenue update. The risk off sentiment has also filtered through to fixed income markets, where Bund yields reside at their lowest levels in five weeks, while concerns over the rise of Melenchon potentially blowing the election race wide open has seen yields rise.

    Top European News
    • U.K. Inflation Pickup Takes Easter Break as Rate Stays at 2.3%
    • BT’s EE to Recruit 800 Customer-Service Staff in U.K., Ireland
    • Putin Said to Plan to Meet Tillerson Tomorrow, RBC Reports
    • EU Banks Profitability in U.S. Is Higher Than Disclosed: HSBC
    • Romanian Opposition May Pick New Central Bank Deputy Governor
    In currencies, the yen gained 0.2 percent to 110.67 per dollar at 9:53 a.m. in London, strengthening for a second day. The Bloomberg Dollar Spot Index edged lower by 0.1 percent, while the euro pared losses to trade little changed. The British pound added less than 0.1 percent to $1.2422; data showed U.K. inflation’s upward trajectory paused in March. The main movers this morning have been the JPY and later in Europe GBP. The former has gained on the rise in tensions between the US and North Korea, as the later has responded to the incursion into the Korean peninsula. USD/JPY has tested down into the mid 110.00's again, and again found support, but subsequent upside traction will be limited under the circumstances, as we get to see further pressure through the cross rates. EUR/JPY has been an obvious draw with the French elections ahead keeping the single unit well capped in the interim. The lead spot rate continues to run into sellers above 1.0600, while cross rate supply saw the 117.00 handle briefly relinquished. Earlier this morning we saw weakness in the EU industrial production numbers, but the ZEW sentiment surveys for both Germany and the EU as a whole show improvement. EUR/GBP pressure has also been apparent in the early exchanges, but demand ahead of 0.8500 also noteworthy. Ahead of the EU numbers, we saw headline CPI in the UK rising a little more than the consensus figure, but after a kneejerk move higher in GBP, strength sellers noting higher input prices took advantage. Cable is back around pre announcement levels, and remains on the heavy side, though we can see a period of consolidation ahead as longer term demand awaits lower down.

    In commodities, West Texas Intermediate oil fell 0.3 percent to $52.91 after jumping 1.6 percent on Monday. Gold rose for a third day, adding 0.2 percent to $1,257.03 an ounce. Iron ore futures climbed as much as 1.4 percent in China after dropping 7.1 percent in the previous two sessions, but pared most gains. Zinc extended its decline, dropping 1.3 percent amid signs that output is increasing. The London Metal Exchange index of six metals contracts closed Monday at the lowest in a month. Oil prices are coming off better levels in recent trade, but despite the fact that events in Syria have been the primary driver of recent gains, WTI has made good in-roads back into the USD 50-55 range. Brent has tipped USD56.00 also, but from here, we are back to watching the inventory — API tonight. Precious metals also stay bid from the risk perspective, but with the USD tailing off again today, Gold has retested USD1260. Silver still struggling ahead of USD18.00 though. In base metals, Zinc has underperformed notably over the last 24 hours. Supply issues/stockpiles continue to determine price at the present time, with 'steady' demand-side factors hit on recent bearish forecasts by key analysts. Copper gravitating circa USD2.60 for now.

    Looking at the day ahead, we get the February industrial production report for the Euro area which disappointed, rising only 1.2% vs Exp. 2.0%, and the April ZEW survey in Germany which beat at 19.5, vs Exp. 14.0 (up from 12.8). Over in the US this afternoon the data includes February JOLTS job openings and the March NFIB small business optimism reading. Away from the data the Fed’s Kashkari is due to speak at 6.45pm BST while the ECB’s Visco is also scheduled to speak this afternoon.

    US Event Calendar
    • 6am: NFIB Small Business Optimism, est. 104.7, prior 105.3
    • 10am: JOLTS Job Openings, est. 5,650, prior 5,626
    • 1:45pm: Fed’s Kashkari Participates in Q&A in Minneapolis
    DB's Jim Reid concludes the overnight wrap

    It wasn’t a particularly exciting day in markets yesterday at the start of two holiday shortened weeks. The S&P 500 rose a modest +0.07%, meaning the index has now closed up or down by less than 0.10% three times in the last week. In Europe the Stoxx 600 recovered from a mid-session wobble to finish unchanged by the closing bell. Sovereign bond markets were stronger at the margin although again moves were very modest. 10y Bund yields finished 2.1bps lower at 0.202% and are starting to approach the February lows on the current on the run contract again (when they touched 0.179%). Similar maturity Treasury yields were also 1.6bps lower at 2.367%. Meanwhile in commodities WTI Oil (+1.61%) continues to march higher and closed above $53/bbl for the first time since March 7th with yesterday’s move in part supported by the news of a production outage at Libya’s largest oil field.

    A little less boring was the fact that we did see equity vol climb a bit yesterday. The VIX closed above 14 (+9.17%) for the first time since December 2016 while the VSTOXX in Europe climbed over 13% to close at 22.09 and the highest level since December 2nd. Geopolitical concerns have clearly been on the rise over the last week or so with Syria and North Korea never far from the front pages while it’s worth noting that we are all of a sudden now just 12 days away from the first round presidential election in France. Yesterday we noted the climb in the polls for Melenchon over the last few weeks and an Ifop-Fiducial poll released yesterday confirmed the trend. The poll showed both Le Pen (24%) and Macron (23%) as holding on to first and second place still, with Fillon (18.5%) and Melenchon (18%) barely separated in third and fourth place. That percentage for far-left candidate Melenchon is up from 11.5% using the same pollster in a poll run back on 18-21st March. In that time support for Hamon has fallen 3.5% but it’s worth noting that the poll back in March also had support for Le Pen and Macron at 26% and 25.5% respectively. So the gap between the top 4 has certainly shrunk in recent weeks. Our economists in France noted yesterday that in 2012 Melenchon also witnessed a similar surge in the polls at the same point in the campaign. Ultimately that surge in support did not materialise in the first round vote and he was not close to qualifying for the second round. They do however highlight that this time may be different because Melenchon appears closer to the top two candidates in first round polls. But, this also means that his radical program might ultimately push moderate voters back towards mainstream candidates. While the most likely outcome remains a second round between Macron and Le Pen, the race to qualify for the second round has tightened in the last week, so it’s one to keep an eye on over the next couple of weeks.

    This morning in Asia bourses have kicked off Tuesday largely on the back foot. A stronger Yen (+0.23%) is weighing on the Nikkei (-0.71%) while the Hang Seng (-0.80%) and Shanghai Comp (-0.46%) are also weaker. In Korea both the Kospi (-0.59%) and Korean Won (-0.52%) have extended losses with the North Korea situation still a focus. US equity index futures are also a bit weaker overnight while Treasuries and bond yields in Asia are generally lower.

    Moving on. Following the close yesterday Fed Chair Yellen spoke at an event in Michigan. Yellen confirmed that the “appropriate stance of policy is now closer to, let me call it neutral” and that “we want to be ahead of the curve and not behind it”. Yellen also suggested that inflation is still below 2% in her estimation. Perhaps more interestingly, Yellen did voice some concern about the Fed’s independence being under threat, referring specifically to two bills put forth in Congress and legislation that would require the Fed to follow a simple mathematical rule in setting interest rates and any deviation from it would result in calling in the General Accounting Office to conduct audits.

    Elsewhere, and before we look at today’s calendar, quickly wrapping up yesterday’s dataflow. In Europe the most notable release was the Sentix investor confidence for April which rose 3.2pts during the month to 23.9 (vs. 21.0 expected) and to the highest since August 2007. In France the Bank of France business sentiment reading was down 1pt in March to 103. Over in the US the lone release was the Fed’s labour market conditions index which rose a fairly modest 0.4pts in March, but in doing so confirmed a 10th consecutive monthly rise for the index.

    Looking at the day ahead, this morning in Europe the early focus will be on the UK where we get the CPI/RPI/PPI data dump for March. The consensus is for a +0.3% mom increase in headline consumer prices while PPI output prices are expected to have risen a more modest +0.1% mom. Following that we then get the February industrial production report for the Euro area (+0.1% mom expected) and the April ZEW survey in Germany. Over in the US this afternoon the data includes February JOLTS job openings and the March NFIB small business optimism reading. Away from the data the Fed’s Kashkari is due to speak at 6.45pm BST while the ECB’s Visco is also scheduled to speak this afternoon.

    Well done for getting to this point and staying awake.

    http://www.zerohedge.com/news/2017-...ry-investors-eye-rising-geopolitical-concerns
     
  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Asian Metals Market Update: Apr-11-2017
    By: Chintan Karnani, Insignia Consultants
    Traders and everyone are on the sidelines due to uncertainty over Trump’s policies. Unless something very serious happens in Syria, bullion will not zoom. Mass genocide is something which has been ignored by markets. Gold and silver are still on the way to test key resistances. I prefer to ignore interest rate moves by the Federal Reserve. There has been too much hype over the same over the past few years. The US economy is robust. Interest rates will be hiked. Gold bulls will be able to overcome interest rate hikes by the Federal Reserve and other central bankers. But it is difficult to project the pace of rise.
     
  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    The Dollar: Losing Value For a Century
    Junius Maltby



    Published on Apr 10, 2017
    Junius Maltby taking a look at a century worth of currency destruction. The US Dollar has lost 96% of its purchasing power, the money supply continues to explode, as well as debt and deficits. What do you think is going to happen? REALLY?
    FAIR USE STATEMENT
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Frontrunning: April 11

    [​IMG]
    by Tyler Durden
    Apr 11, 2017 7:56 AM

    • Tillerson: Russia Should Give Up ‘Unreliable Partner’ Assad (BBG)
    • U.S. tries to line up West, Mideast against Assad (Reuters)
    • United Airlines under fire after passenger dragged from plane; officer put on leave (Reuters)
    • Tillerson carries Syria stance to Moscow as Trump assumes West's leadership (Reuters)
    • Investors Dump French Assets as Presidential Race Opens Up (WSJ)
    • Why Bond Bears Look Poised to Come Out of Hibernation...Again (BBG)
    • North Korean ships head home after China orders coal returned (Reuters)
    • 142-Year-Old Japanese Giant Toshiba Warns It May Not Survive (BBG)
    • Commercial-Property Lending Falls as Investors Pull Back (WSJ)
    • Qualcomm hits back at Apple's lawsuit, accuses iPhone maker of false statements (Reuters)
    • U.K. Grocers Secretly Squeeze Customers as Brexit Bites (BBG)
    • Chinese cities restrict home sales by buyers to fight speculation (Reuters)
    • Pipeline Built to Survive Extremes Can’t Bear Slow Oil Flow (BBG)
    • Secret Recordings Play Role in SEC Probe of Insurer AmTrust (WSJ)
    • Yuan firms as dollar retreats; Macquarie forecasts no depreciation this year (Reuters)
    • U.S. judge finds Texas voter ID law was intended to discriminate (Reuters)
    • Sorry America, Your Taxes Aren’t That High (BBG)
    • Banks scramble to fix old systems as IT 'cowboys' ride into sunset (Reuters)
    • London Police Acted Illegally in Russia Cash Seizure, Court Says (BBG)
    • Toshiba files earnings without auditor endorsement, delisting risk rises (Reuters)
    • Grains piled on runways, parking lots, fields amid global glut (Reuters)
    Overnight Media Digest

    WSJ

    - The Trump administration held out the prospect Monday of wider retaliation against Syria and signaled a new push to remove the country's divisive leader ahead of Secretary of State Rex Tillerson's meetings with Damascus's Russian allies. http://on.wsj.com/2otHpQN

    - Activist investor Jana Partners has amassed a nearly 9 percent stake in Whole Foods Market and wants the upscale organic grocer to speed up its turnaround efforts while also exploring a possible sale. http://on.wsj.com/2otWSjJ

    - A new report on the sales scandal at Wells Fargo places much of the blame on former CEO John Stumpf and his protégée, Carrie Tolstedt. The board clawed back an additional $75 million of pay from the two former executives. http://on.wsj.com/2otHDY9

    - Barclays Chief Executive Jes Staley is under investigation by UK and U.S. regulators after he tried to unmask a whistleblower who criticized his hiring of a longtime associate for a top job. http://on.wsj.com/2otWW2Z

    - United Airlines drew widespread criticism for having a passenger forcibly removed from a flight, an incident that threatens to further damage the reputation of an airline recovering from a proxy fight and leadership upheaval. http://on.wsj.com/2otME2N

    - A surge in Tesla stock gave it the title of largest U.S. auto maker by market value - a feat that would have seemed highly improbable 13 years ago when the electric-car maker first began tinkering with the idea of making a sports car. http://on.wsj.com/2otI4BL

    - A new cancer drug licensed by Eli Lilly was discovered by a six-year-old startup on the outskirts of Shanghai, and derived from the ovary cells of Chinese hamsters. Lilly now is planning to test it on Americans. http://on.wsj.com/2otJtZ6

    - Foxconn Technology offered up to $27 billion for Toshiba Corp's computer-chip business, another bold bid for a pillar of Japan's high-tech industry. http://on.wsj.com/2otXLc5


    FT

    *Attempts to break political deadlock in Northern Ireland have failed again ahead of an Easter deadline to restore the province's power-sharing arrangement between unionists and republicans.

    *The National Health service is planning loans from hedge funds to pay for new buildings and equipment because of public spending cuts.

    *Britain saw the biggest drop in retail sales, excluding food, in nearly six years in the first quarter of 2017. Retail sales dropped by 0.8 percent in value over the period compared to a year earlier, according to released figures from the British Retail Consortium on Tuesday.


    NYT

    - Jana Partners, the activist hedge fund founded by Barry Rosenstein, criticized Whole Foods Market's brand development, customer service and distribution strategy, and nominated four candidates for the company's board. http://nyti.ms/2otz67G

    - The British authorities are investigating Barclays and its American chief executive, James Staley, after he admitted to trying to learn the identity of the author of an anonymous letter. http://nyti.ms/2otKdgW

    - Wells Fargo said on Monday it would claw back an additional $75 million in compensation from the two executives on whom it pinned most of the blame for the company's scandal over fraudulent accounts: the bank's former chief executive, John Stumpf, and its former head of community banking, Carrie Tolstedt. http://nyti.ms/2otAHuf

    - Adding to this year's flurry of law firm combinations, Boies Schiller Flexner said on Monday it would take the West Coast litigation firm Caldwell Leslie & Proctor under its wing starting next week. http://nyti.ms/2otBzPt

    - In the latest move by a major automaker to enhance its American manufacturing operations, Toyota said it would invest more than $1.3 billion to upgrade its assembly plant in Kentucky. http://nyti.ms/2otI0lD


    Canada

    THE GLOBE AND MAIL

    ** Bombardier Inc confirmed that it will make two changes to its executive compensation package for 2016 in line with requests made over the past week by its senior leadership. https://tgam.ca/2p0v07z

    ** A fund founded by Adam Waterous, the former Bank of Nova Scotia investment banker, has acquired two-thirds of Northern Blizzard Resources Inc for C$244 million ($183 million), putting more Canadian oil assets back in domestic hands. https://tgam.ca/2p0uZQW

    ** The federal government will table a bill to legalize recreational marijuana on Thursday that is expected to tightly control the ability of producers to market their products to the public, federal sources said. https://tgam.ca/2p0w4Zc

    NATIONAL POST

    ** Overseas media were abuzz Monday with reports that Scotland would be home to the first standalone Tim Hortons location in the UK. http://bit.ly/2p0HvA8

    ** Canadian miner Gran Colombia Gold Corp has filed a $700 million lawsuit against Colombia under the Colombian-Canadian free trade agreement after the government ordered the company to cease operations at the El Burro site in Marmato until it has further consulted with local residents. http://bit.ly/2p0vISm

    ** Canada Mortgage and Housing Corp announced Monday that housing starts reached their highest level since September 2007, a development the Crown corporation said was a response to market demands. http://bit.ly/2p0wMp8


    Britain

    The Times

    Regulators in Britain and the United States are investigating Barclays Plc Chief Executive Jes Staley's attempts to identify the whistleblower who raised concerns about Tim Main, a former colleague at JPMorgan Chase & Co. http://on.wsj.com/2okLpTf

    Anglo-Australian mining group BHP Billiton Plc has rejected calls from activist investor Elliott Advisors to overhaul its dual-listed structure and spin off its U.S. oil business. http://bit.ly/2ol11pJ

    The Guardian

    Britain's retailers suffered a third consecutive month of falling sales in March, according to industry figures that add to evidence that a post-referendum rise in living costs is denting consumer spending. http://bit.ly/2okTYNG

    Fashion chain Jaeger has collapsed into administration, putting 680 jobs at risk. The brand, which dressed Audrey Hepburn and Marilyn Monroe in its heyday, had been trying to find a buyer to keep its 46 stores going, but its owner threw in the towel on Monday and appointed administrators. http://bit.ly/2ol6HzZ

    The Telegraph

    The 129 million pounds ($160.26 million) fine imposed by the Serious Fraud Office against Tesco Plc has been approved by Southwark Crown Court following an investigation into the retailer's accounting scandal in 2014. http://bit.ly/2ol3Eb9

    Tom Hayes, the first trader to be convicted for Libor rigging, has called for a public inquiry to be launched after a recording of a telephone call emerged suggesting the Bank of England was involved in manipulating the key financial benchmark. http://bit.ly/2okMMRY

    Sky News

    Travelodge has announced plans to open 60 hotels in UK over three years, as it looks to capitalise on potential opportunities in the wake of the Brexit vote. http://bit.ly/2okU9bU

    Kadcyla, a breast cancer drug which could shortly be withdrawn in England, has been approved for use on the NHS in Scotland. Campaigners claim more than a hundred women a year could benefit from the drug in Scotland. http://bit.ly/2okUZWk

    The Independent

    Canadian fast food chain Tim Hortons is opening its first UK branch in Glasgow next month. The company has plans to expand its franchised outlets across UK over the coming year. http://ind.pn/2ol2YCI

    http://www.zerohedge.com/news/2017-04-11/frontrunning-april-11
     
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    TVR [#327] 04-11-2017 PRE-MARKET PULSESCAN (AUDIO ONLY)
    ALGO CAPITALIST



    Published on Apr 11, 2017
    Please remember to RATE, SHARE, FAVORITE, COMMENT AND SUBSCRIBE.
     
  22. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Gold and Silver Market Morning: April 11 2017 - Gold firm below resistance $!
    By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watchs
    The Syria strike by the U.S. has not heightened tensions between Russia and the U.S. as much as the markets first discounted. It appears that Russia is satisfied with chest beating without action, simply a warning that the U.S. will be met by force next time. If there is another gas attack soon the situation could deteriorate substantially. Meanwhile, the markets, as we thought they would have retreated to where they were before the missile strike.
     
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Rogue Mornings - Syria Endgame, N Korea & Oval Office Disarray (04/11/2017)
    ROGUE MONEY



    Streamed live 2 hours ago
    "V" and CJ are joined by James "The Russian Analyst" to talk about the mixed messaging of the administration, the truth about North and South Korea and the fading dollar.

    We are political scientists, editorial engineers, and radio show developers drawn together by a shared vision of bringing real news through digital mediums that evangelize our civil liberties.

    Please subscribe for the latest shows daily!

    http://www.roguemoney.net
    https://www.facebook.com/ROGUEMONEY.NET/
    https://twitter.com/theroguemoney
     
  25. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  26. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  27. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  28. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  29. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  30. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  31. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Rogue Report: Quick Market Recap with "V" and CJ (04/11/2017)
    ROGUE MONEY



    V & CJ deliver a quick market update. The Tradingdome with Dex will be rescheduled for later this week.

    We are political scientists, editorial engineers, and radio show developers drawn together by a shared vision of bringing real news through digital mediums that evangelize our civil liberties.

    Please subscribe for the latest shows daily!

    http://www.roguemoney.net
    https://www.facebook.com/ROGUEMONEY.NET/
    https://twitter.com/theroguemoney
     
  33. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Gregory Mannarino¬-Fed Deliberately Created Bubbles to Save Itself
    Greg Hunter



    Published on Apr 11, 2017
    Analyst/trader Gregory Mannarino says, “The Federal Reserve has re-inflated a housing bubble. So now, those ‘toxic assets,’ those mortgage-backed securities are worth something. Now, they are going to sell these at a profit. The profit should going to the poor people who were kicked out of their houses and lost everything. That is not going to happen. The Federal Reserve has deliberately created bubbles to save themselves. If the Federal Reserve allowed the markets to do it’s one and only job, and that is to determine fair value, we’d be out of the woods by now. We wouldn’t be facing another war right now. They refused to do this. The free market has been stolen. We really could be on the edge of a major event that would force people into the debt market. There could be huge amounts of cash coming out of the stock market because of all this fear. There could be massive amounts of cash going into suppressed assets like gold and silver. Housing could come under pressure. We could be staring at the next real Great Depression.”

    In closing, Mannarino says, “The global debt problem is going to get monumentally worse. Let’s see anyone argue that. Does anyone here believe that the global debt problem is going to get better? That should tell you what you need to do. This is like adding 2 + 2. This should be so simple for people to understand what they need to do. . . . If you want to hold those pieces of paper with numbers printed on them, they are unbacked liabilities being dispersed by bankrupted governments. If you want to hold that, good for you. I can promise you I am going to be taking the opposite side to that trade, and I will win.”

    Join Greg Hunter as he goes One-on-One with Gregory Mannarino, founder of TradersChoice.net.

    http://usawatchdog.com/donations/
     
  34. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Watch The Dollar As Daily Retracement May Bounce Of Support
    PreciousMetals Prices



    Streamed live 6 hours ago
     
  35. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Traders "Swoop" On Stocks, Oil Rises For 8th Day But Bonds Still Don't Buy It

    [​IMG]
    by Tyler Durden
    Apr 12, 2017 6:41 AM


    S&P futures are unchanged and Asian stocks closed mixed, however European stocks rebounded for first time this week, led by auto stocks after Daimler’s quarterly profit, as a break in alarming political news prompted traders to "swoop" - as Reuters puts it - on equities, cooling a safe-haven rally that saw the yen and gold at five-month highs and global government bond yields to drop their lowest this year.

    Still, with many geopolitical unknowns in the days ahead as well as potential military escalation in North Korea, the mood remained "skittish", and meant that what looked set to be oil's longest winning run since August - up for 8 consecutive days, its longest streak in 2017 - has largely gone under the radar.

    As DB's Jim Reid puts it, it has felt quite quiet and orderly this week considering the risk-off tendencies and relatively big spike in volatility. However that might be because of a lack of activity given the pending Easter break. So poor liquidity is probably exacerbating the moves. Add to this the rising geopolitics tensions (North Korea, Syria), slow burning ongoing concerns about Trump trades post the healthcare debacle, and a steady increase of support for Melenchon in the recent French polls making it less certain who'll contest the final round run-off. For now equity and credit markets remain fairly resilient which reduces the immediate worry but if vol remains elevated at these levels for a few days expect weakness.

    This morning in Asia we got the latest inflation data out of China. In terms of the numbers, PPI in March has moderated somewhat after dipping two-tenths to +7.6% yoy (vs. +7.5% expected) following a bit of a levelling out in commodity prices. That said it also marks the seventh consecutive monthly positive print after 54 months of deflation in prices at the factory gate. Meanwhile CPI has edged up one-tenth to +0.9% yoy although did miss slightly relative to expectations for +1.0%, with a -4.4% yoy decline in food prices in particular having an impact.

    Bourses in China are a touch weaker although that is the case for much of Asia this morning, if not the rest of the world. Global markets halted their recent declines with an early 0.3 percent rise for Europe's STOXX 600 share index put it on course for its best day of the month. The rise in oil underpinned energy stocks while banks and carmakers also made ground. MSCI's broadest index of Asia-Pacific shares outside Japan saw a late rally though Shanghai closed down 0.4 percent as China reported a slight slowdown in producer price inflation. South Korean stocks and the won gained for the first time in seven days. Hong Kong equities erased losses to rally in late trading. The yield on 10-year U.S. notes rose after closing Tuesday below 2.3 percent for the first time in four months. Oil extended its longest winning streak since December. Japan’s Topix fell to the lowest level of the year after the yen breached 110 yen per dollar for the first time since November on Tuesday. A quick breakdown from Bloomberg:

    • The Stoxx Europe 600 rose 0.3 percent, with automakers leading gains as Daimler AG’s first-quarter profit almost doubled. Daimler shares rose 1.6 percent.
    • Korea’s Kospi rose 0.2 percent, after dropping 2 percent over the previous six sessions. Japan’s Topix fell 1 percent, led by declines in banks, autos and other exporters. South Australia’s S&P/ASX 200 index gained less than 0.1 percent.
    • The Hang Seng China Enterprises Index climbed 0.3 percent and the Hang Seng Index jumped 0.6 percent, wiping out earlier losses at the end of the trading day. The Shanghai Composite fell 0.5 percent. Data showed China’s producer price gains slowed last month from a peak in February, tempering the global inflation outlook.

    At the same time, volatility is easing after the VIX climbed to a level unseen since November on Tuesday amid escalating global tensions.

    "It is a modest rebound," said Rabobank strategist Philip Marey. "We have discounted much of the news like the conflict between the Americans and the Russian on Syria and Trump's tweets on North Korea, so maybe its time to move on."

    S&P500 futures are unchanged, having spent the Asian session in the red. Japan's Nikkei had slid just over 1 percent as a rising yen weighed on exporters' shares.

    However, while stock traders are hoping to BTD, the allure of save havens persists with gold climbing as far as $1,280.30 at one stage, its highest since Nov. 10, while the 10Y TSY was at 2.30% at last check, flirting with the key support ling that has emerged since the Trump election, after dropping to 2.28% overnight.

    [​IMG]

    "A degree of uncertainty has found its way into previously seemingly bulletproof financial markets," wrote analysts at ANZ. "There is clearly some nervousness out there, with tensions around North Korea ratcheting higher and adding to an already heightened geopolitical environment. Global cyclical assets have not yet responded, but that can't last."

    In geopolitics, Chinese President Xi Jinping on Wednesday stressed the need for a peaceful solution for the Korean peninsula on a call with U.S President Donald Trump. North Korea has warned of a nuclear attack on the United States at any sign of aggression as a U.S. Navy strike group steamed toward the Korean peninsula - a force Trump described as an "armada". Japan's navy also plans joint drills with the U.S. force, sources told Reuters. Trump said in a Tweet that North Korea was "looking for trouble" and the U.S. would "solve the problem" with or without China's help.

    The bellicose language has dragged South Korean stocks and the won to four-week lows and caused jitters across Asia. At the same time, U.S. Secretary of State Rex Tillerson was in Moscow to denounce Russian support for Syria's Bashar al-Assad, raising the stakes in the Middle East. A joint news conference by Trump and NATO Secretary General Jens Stoltenberg was also likely to generate headlines.

    In currencies, the yen, a favoured harbor in times of stress due to Japan's position as the world's largest creditor nation, also cooled in Europe after having surged over 1.2 percent against the dollar on Tuesday. The dollar huddled at 109.70 yen, having been as low as 109.35 at one stage. Dealers warned there was little in the way of chart support until the 200-day moving average at 108.72.

    The euro steadied too, having dropped to its lowest in five months at 115.91 yen. It was looking to snap 11 straight sessions of losses, a record for the single currency. It was shade higher on the dollar at $1.0618. Political uncertainty in France added to the euro's woes as hard-left candidate Jean-Luc Melenchon surged in the polls ahead of the May presidential election.

    [​IMG]

    All this unease boosted bonds with yields on 10-year Treasuries US10YT=RR boasting their lowest close of the year on Tuesday. Yields were last at 2.30% and testing a hugely important barrier on the charts. European yields nudged only cautiously upwards despite the easier mood in other assets, as nearly 16 billion euros of upcoming debt sales weighing on risk-averse, holiday-thinned markets.

    Meanwhile, US traders are looking for an upbeat earnings season set to kick off tomorrow with a handful of banks reporting Q1 results. Analysts expect earnings for all S&P 500 companies to have risen 10 percent in the first quarter from a year ago, according to Thomson Reuters data.

    Oil's winning streak got an added lift from reports Saudi Arabia was lobbying OPEC and other producers to extend a production cut beyond the first half of 2017. Global benchmark Brent edged up 30 cents to $56.53 a barrel, while U.S. crude added 25 cents to $53.66. If sustained, this would be the longest stretch of gains since August 2016.

    Bulletin Headline Summary from RanSquawk
    • European indices have remained afloat with oil prices rising amid a drawdown in last nights API report, while Saudi support of extension to cuts also keeps oil elevated.
    • GBP undecided after mixed jobs report where importantly wage inflation is now below CPI.
    • Looking ahead, highlights include DoE and Bank of Canada rate decision.
    Market Snapshot
    • S&P 500 futures up 0.1% to 2,353.00
    • STOXX Europe 600 up 0.5% to 382.98
    • MXAP down 0.08% to 146.72
    • MXAPJ up 0.5% to 479.87
    • Nikkei down 1% to 18,552.61
    • Topix down 1% to 1,479.54
    • Hang Seng Index up 0.9% to 24,313.50
    • Shanghai Composite down 0.5% to 3,273.83
    • Sensex down 0.3% to 29,685.83
    • Australia S&P/ASX 200 up 0.08% to 5,933.96
    • Kospi up 0.2% to 2,128.91
    • German 10Y yield unchanged at 0.204%
    • Euro up 0.1% to 1.0616 per US$
    • Italian 10Y yield rose 3.9 bps to 1.986%
    • Spanish 10Y yield rose 0.3 bps to 1.647%
    • Brent Futures up 0.5% to $56.49/bbl
    • Gold spot down 0.1% to $1,273.27
    • U.S. Dollar Index down 0.07% to 100.64
    Top Overnight News From Bloomberg
    • Amazon Said to Mull Whole Foods Bid Before Jana Stepped In
    • Meredith Said in Late-Stage Talks for Time Inc. Takeover
    • Xi Urges North Korea Talks in Trump Call as Tensions Mount
    • Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs
    • Tillerson, Lavrov Meet in Moscow as U.S. Blasts Russia on Syria
    • BHP CEO Rejects Oil Spinoff for Third Time After Singer Demand
    • Neurocrine Wins FDA Approval on Drug for Movement Disorder
    • Arista Networks Says Ruling Allows for Product Imports Into U.S.
    • Daimler’s First-Quarter Earnings Surge on Mercedes Success
    • NuStar to Buy Navigator in $1.5 Billion Bet on Permian Pipelines
    Asian markets were weighed by geopolitical concerns with the Nikkei 225 (-1%) the underperformer amid JPY strength. The downbeat tone was evident across the region, with the Shanghai Composite (-0.4%) finding itself in negative territory not helped by the 0.90%, vs. Exp. 1.00% CPI Y/Y miss, while ASX 200 (+0.1%) was also subdued, although strength in the materials sector and mining names stemmed downside. Finally, JGBs followed European and US fixed income markets, finding bullish pressure throughout the session. Noticeably, the BoJ lowered its 3yr-5yr purchases by JPY 30bIn which had no effect on the 10yr or the flight to safety, with the 10yr JGB Jun'17 contract higher by around 20 ticks. Chinese CPI (Mar) Y/Y 0.9% vs. Exp. 1.0% (Prey. 0.8%); - PPI (Mar) Y/Y 7.6% vs. Exp. 7.6% (Prey. 7.8%). PBoC refrained from open market operations again for a net daily drain of CNY 40bIn. BoJ Governor Kuroda stated BoJ easing is not targeting an FX level and that JPY weakness could help inflation reach target quicker. Kuroda further stated that he sees no problem with asset purchases or expansion of monetary base.

    Top Asian News
    • China Producer Price Reflation Moderates as Commodities Cool Off
    • Xi, Trump Exchange Views on Issues Including North Korea Today
    • China Says Escalating Korean Situation ’Irresponsible, Dangerous’
    • Cathay Promotes Operating Chief Rupert Hogg to CEO After Loss
    • Qantas Stops Selling Tickets in Zimbabwe Amid Cash Shortage
    In Europe the risk off sentiment doesn't last long with the markets shrugging off yesterday's concerns to see equities trade higher again this morning. Energy names are leading the charge, with the sector benefitting as WTI trades above USD 533.50/bbl in the wake of reports of Saudi Arabia want OPEC to extend production cuts and is pushing for a six-month extension. Elsewhere this morning, Tesco's earnings failed to lift the company, with concerns remaining after profits were weighed on by the 2014 accounting scandal. Fixed income markets have traded in a tighter range for much of the morning amid the slew of supply. Additionally, gilt prices notched lower in the wake of a relatively soft 2065 auction in which the tail had notably widened by some 1.7bps.

    Top European News
    • Tesco Lays Down Price Gauntlet to Rivals as Pressure Grows
    • U.K. Households Facing Biggest Earnings Squeeze Since 2014
    • EU Won’t Back Trade Deal If U.K. Chooses ‘Singapore-on- Thames’
    • Puma Raises 2017 Earnings Forecast as Turnaround Progresses
    • Swedish Elk-Hunt Bribery Case Widens to Handelsbanken Chairman
    • Banco Popular Rises Most in Three Months on Takeover Speculation
    • Melenchon Crashes Front-Runners’ Party as French Risks Rise
    • German Economy Saw ‘Vigorous’ Expansion in 1Q 2017: Government
    In currencies, the yen fell less than 0.1 percent to 109.70 against the dollar as of 8:44 a.m. in London, erasing an earlier gain of 0.2 percent. The currency jumped 1.2 percent on Tuesday for the biggest increase since January. The Bloomberg Dollar Spot Index fell 0.1 percent. The South Korean won rose 0.4 percent, after six days of declines. The euro added 0.1 percent to $1.0620, gaining for a third day. Focus in the FX markets has been on the JPY, as it gains across the board on geopolitical fears. We have finally broken through the 110.00 on the downside, tripping stops through 109.50 but with limited momentum though here as some had feared. Tensions over North Korea and Syria are unlikely to go away any time soon, so expect JPY demand to continue in the meantime. We see the EUR benefiting from times of risk off, but there is no relief for the single unit as the French elections continue to unnerve the market — there seems to be little confidence in the polls which continue to see Le Pen lagging. EUR/USD tested through 1.0600 yesterday and today, but struggles ahead of the first point of resistance at 1.0650. We saw EUR/JPY dipping under 116.00 in late Asia, but demand noted below here.

    In commodities, oil climbed 0.4 percent to $53.61 a barrel, after advancing for six straight sessions. Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal discussions. Gold fell 0.1 percent to $1,273.70 an ounce, after jumping 1.6 percent on Tuesday to the highest since Nov. 9. The flight to safety has seen Gold on the ramp again in recent sessions, tipping USD1280.00 alongside the drop in the USD which has seen the JPY take out 110.00. Silver is now back above USD18.00 as a result, as precious metals have been the obvious trade in the last few days. Oil prices have pushed higher also as Saudi Arabia wants OPEC to extend the production cuts by another 6 months, with the API's showing a drawdown to add impetus to the WTI rise through USD53.00. Brent is now pushing into the upper USD56.00's. Base metals naturally suffer with the risk off tone as, with Copper now back under USD2.60, but techs note some near term support on the horizon. Zinc has been underperforming as supply picks up, but also stabilises to a modest degree today


    Looking at the day ahead, it’s quiet again in the US with just the March import price index reading and monthly budget statement due out. Away from the data the BoE’s Carney is due speak this morning, while the IMF’s Lagarde is also scheduled to speak at a conference in the next few hours. The Fed’s Kaplan then speaks this afternoon at 3pm BST. As highlighted earlier, expect politics to also remain a focus with Tillerson’s visit to Russia one to watch.

    US Event Calendar
    • 7am: MBA Mortgage Applications, prior -1.6%
    • 8:30am: Import Price Index MoM, est. -0.2%, prior 0.2%; YoY, est. 3.95%, prior 4.6%; Import Price Index ex Petroleum MoM, est. 0.0%, prior 0.3%
    • 8:30am: Export Price Index MoM, est. 0.0%, prior 0.3%; 8:30am: Export Price Index YoY, prior 3.1%
    • 10am: Fed’s Kaplan Speaks in Fort Worth
    • 2pm: Monthly Budget Statement, est. $169.0b deficit, prior $108.0b deficit
    * * *

    DB's Jim Reid concludes the overnight wrap

    So far this week vol has been spiking up like Sergey after he's planted his pole at the end of the runway. Given the moves it's got us asking the question as to whether this is the rise in vol we've been waiting for? Last night the VIX closed (15.07) at the highest level since the US election with European VSTOXX (22.95) also at the highs over the same period and just over double the all-time lows seen just over 3 weeks ago. Simultaneously Gold (+1.61%) hit 5 month highs last night and 10yr Treasury yields hit a 5 month low after falling 7bps to 2.296%. 10y Bund yields also held steady at 0.201% and continue to hover a shade above the 2017 low of 0.179% made intraday back in February.

    It has felt quite quiet and orderly this week considering the risk-off tendencies and relatively big spike in volatility. However that might be because of a lack of activity given the pending Easter break. So poor liquidity is probably exacerbating the moves. Add to this the rising geopolitics tensions (North Korea, Syria), slow burning ongoing concerns about Trump trades post the healthcare debacle, and a steady increase of support for Melenchon in the recent French polls making it less certain who'll contest the final round run-off. For now equity and credit markets remain fairly resilient which reduces the immediate worry but if vol remains elevated at these levels for a few days expect weakness.

    In terms of the actual geopolitical developments yesterday, it was President Trump’s latest tweeting around North Korea which initially saw vol spike higher midway through the afternoon. Trump tweeted that “North Korea is looking for trouble” and that the US “will solve the problem” with or without the help of China – reiterating comments he has made previously. Overnight in an interview with Fox News, Trump also said that “we are sending an armada” to the North Korean peninsula. In addition to this and ahead of his visit to Russia, secretary of state Rex Tillerson was fairly blunt in his comments about Russia’s involvement in Syria. Speaking at the G-7 summit, Tillerson said that Russia had aligned itself with an “unreliable partner” in Syria’s al-Assad and urged Russia to abandon its support. Tillerson has travelled to Moscow and is due to meet foreign minister Sergei Lavrov. There’s also some chatter that he could meet President Putin although that is still to be confirmed. Putin had said yesterday that the recent chemical attacks in Syria were “provocations”.

    So expect there to be plenty more headlines around this today. While safe havens rallied and volatility spiked higher yesterday it was notable that risk assets actually stayed relatively resilient all things considered. The S&P 500 pared a loss of as much as -0.85% to finish the day down only a modest -0.14%. The percentage loss for the Dow (-0.03%) was even smaller while the Stoxx 600 was -0.02% by the closing bell, despite the obvious moves in vol. In fact in the last six sessions, the Stoxx 600 hasn’t moved up or down by more than 0.20%. Meanwhile credit was a bit weaker at the margin (CDX IG +1bp, iTraxx Main +0.5bps, Crossover +3bps) but again the moves were pretty modest in reality.

    This morning in Asia we’ve had the welcome distraction of the latest inflation data out of China. In terms of the numbers, PPI in March has moderated somewhat after dipping two-tenths to +7.6% yoy (vs. +7.5% expected) following a bit of a levelling out in commodity prices. That said it also marks the seventh consecutive monthly positive print after 54 months of deflation in prices at the factory gate. Meanwhile CPI has edged up one-tenth to +0.9% yoy although did miss slightly relative to expectations for +1.0%, with a -4.4% yoy decline in food prices in particular having an impact. Bourses in China are a touch weaker although that is the case for much of Asia this morning. The Shanghai Comp and CSI 300 are -0.32% and -0.04% respectively while the ASX and Hang Seng are -0.17% and -0.15%. In Japan the Nikkei (-1.24%) has notably underperformed reflecting the rally for the Yen (+1.04%) over the past 24 hours. US equity index futures are down about -0.20%.

    Moving on. It was another fairly quiet day for macro data yesterday although we did get the first of a number of inflation reports during the week. In the UK headline CPI was reported as rising a higher than expected +0.4% mom in March (vs. +0.3% expected) which had the effect of holding the annual rate unchanged at +2.3%. However the core rate fell a little more than expected to +1.8% yoy from +2.0% although still remains well above the levels of 2015 and 2016. Headline RPI was a little softer than expected (+0.3% mom vs. +0.4% expected) however PPI output rose +0.4% mom and well ahead of the consensus estimate for +0.1%. Sterling (+0.61%) closed higher for the second day in succession yesterday.

    Elsewhere in Europe there was some disappointment in the February industrial production print for the Euro area which came in at -0.3% mom (vs. +0.1% expected). More disappointing however was the six-tenths of a percent downward revision to the January data to +0.3%. Our European economists note that if industrial production remains unchanged in March, it will have fallen marginally in Q1 versus the strong +0.9% qoq growth in Q4. This lends some support to their view that the hard data is limiting upside in growth in Q1 despite the strong survey data. On that note, the German ZEW survey was upbeat in April with the current situations index rising 2.8pts to 80.1 and to the highest since July 2011, while the expectations index surged to 19.5 from 12.8. The data in the US yesterday was a bit of a non-event. The BLS JOLTS report revealed that job openings rose to 5.74m in February from 5.63m with both the quits rate and hiring rate edging down one-tenth. Meanwhile the NFIB small business sentiment index nudged down 0.6pts to 104.7 in March, although remains nearly 10pts above its pre-election level. Elsewhere there was a bit of Fedspeak yesterday although nothing that really moved the dial with San Francisco Fed President John Williams reiterating this view that three to four rate hikes this year seems appropriate.

    Before we move on to today’s calendar, it’s worth highlighting yesterday’s report by our FX strategy team in which they look at how an exit from unconventional ECB policy would impact the euro. They find that “not all tightenings are created equal” and argue that it is the sequencing of the exit, rather than the overall monetary policy stance, that will determine whether the euro appreciates. A policy focused on an early exit from negative rates would be very bullish for the euro. The report shows that FX is far more sensitive to front-end rather than back-end yields and that this sensitivity has dramatically increased after the 2008 financial crisis. The report also shows that the effects of negative rates are highly non-linear, so that an early ECB hiking cycle will have a disproportionately positive impact on FX. In contrast, a policy focused on a tapering of the ECB's PSPP program would not be bullish for the euro. QE operates via signaling effects on the short-term rate path as well as by depressing term premia. If the ECB is able to keep the front-end anchored, a rise in term premia alone could have bearish implications for the EUR via reduced demand for European fixed income. Similar effects were observed around the Fed taper tantrum.

    Looking at the day ahead, this morning in Europe the main focus is likely to be on the UK again where we’ll get the March and February employment data. The consensus is for no change in the ILO unemployment rate at 4.7% and a slight dip in weekly earnings ex bonus to +2.1% yoy. It’s quiet again in the US this afternoon with just the March import price index reading and monthly budget statement due out. Away from the data the BoE’s Carney is due speak this morning, while the IMF’s Lagarde is also scheduled to speak at a conference in the next few hours. The Fed’s Kaplan then speaks this afternoon at 3pm BST. As highlighted earlier, expect politics to also remain a focus with Tillerson’s visit to Russia one to watch.

    http://www.zerohedge.com/news/2017-...cks-oil-rises-8th-day-bonds-still-dont-buy-it
     
  36. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Frontrunning: April 12

    [​IMG]
    by Tyler Durden
    Apr 12, 2017 7:48 AM

    • Futures flat as geopolitical risks weigh; earnings eyed (Reuters)
    • Brent oil rises for 8th day on possible extension to supply cut (Reuters)
    • U.S. accuses Russia of Syria gas attack 'cover up' (Reuters)
    • Xi Tells Trump China Wants Peaceful North Korea Solution (WSJ)
    • Tillerson, Lavrov Hold Talks in Moscow Amid Rising Tensions Over Syria (WSJ)
    • Russian diplomat says U.S. stance on Syria 'a mystery' (Reuters)
    • Trump's message to bankers: Wall Street reform rules may be eliminated (Reuters)
    • Puerto Rico seen sliding toward bankruptcy as deadline nears (Reuters)
    • Trump Lays Groundwork for Widespread Government Reorganization (BBG)
    • In surprise move, Iran's Ahmadinejad to run for president (AP)
    • Leftist’s Rise in French Polls Is Spooking Markets (BBG)
    • UK's Daily Mail to pay Melania Trump damages over modeling claims (Reuters)
    • Newly Energized Liberals Pour Record Effort Into Local Races (WSJ)
    • PR Nightmares: United Seat Fiasco Among Worst Corporate Gaffes (BBG)
    • Higher Yields Damp China’s Corporate Bond Market (WSJ)
    • United Airlines faces mounting pressure over hospitalized passenger (Reuters)
    • Japan automakers look to robots to keep elderly on the move (Reuters)
    • Airbnb signs dozens more tax agreements in the U.S., France (Reuters)

    Overnight Media Digest

    WSJ

    - Senior White House officials accused Russia of trying to cover up the suspected Syrian chemical attack last week, adding that the U.S. has concluded the Syrian military used banned sarin gas in the assault. The officials also questioned whether Russia had a role in the attack and suggested it may have known that its ally Syria was planning to use sarin. http://on.wsj.com/2oUqY13

    - Three explosions hit a soccer team's bus just ahead of a major game in the German city of Dortmund on Tuesday, seriously injuring one player in what authorities described as a targeted attack on one of Europe's most prominent sports clubs. http://on.wsj.com/2oxd4Ri

    - United Airlines Chief Executive Oscar Munoz apologized Tuesday for an altercation in which police forcibly removed a passenger from a flight in Chicago, seeking belatedly to quell a worldwide furor. The incident sparked outrage on social media, angered millions in United's fast-growing China market and drew condemnation on Capitol Hill. http://on.wsj.com/2ooY33K

    - Uber Technologies Inc is losing its communications chief in the middle of a public-relations crisis for the ride-hailing company. Rachel Whetstone, who joined Uber in 2015 from Alphabet Inc's Google where she also led communications and public policy, said in a statement Tuesday she is leaving the company, without citing a reason. http://on.wsj.com/2oVMvqb

    - The English-language version of a voice-activated "virtual assistant" that is a major feature of Samsung Electronics Co Ltd's newest flagship device won't be ready to go when the Galaxy S8 smartphone arrives in U.S. stores next week, according to people familiar with the matter. http://on.wsj.com/2o4t6z5

    - Elliott Management Corp has informed Akzo Nobel NV that it plans to call a shareholder meeting to try to oust the chairman of the company's supervisory board, ratcheting up the pressure on the paint giant to engage in sale talks. http://on.wsj.com/2nCJpqQ


    FT

    *The Royal Marines will be cut by 200. The 200 posts, including many specialist roles, will be transferred from the marines to the Royal Navy to stave off staffing gaps.

    *The British Library is considering a 500 million pounds ($624.35 million) extension that will offer it 100,000 sq ft of extra space for education, exhibitions and research next to its headquarters at St Pancras in London.

    *Australia defended BHP Billiton Ltd on Tuesday, saying that any major changes to the corporate structure of the country's biggest company would need to be consistent with the "national interest". The defence came after activist hedge fund Elliott Advisors called on Monday for the scrapping of BHP's dual corporate structure involving Australian and British companies.


    NYT

    - A group of Chinese political activists filed a lawsuit in federal court against Yahoo on Tuesday, saying the company failed to properly oversee a $17 million fund it created a decade ago to help Chinese writers, democracy advocates and human rights lawyers persecuted for standing up to the country's government. http://nyti.ms/2oWw50I

    - Toshiba, a pillar of the modern Japanese economy whose roots stretch back to the country's industrial stirrings in the 19th century, warned on Tuesday that a disastrous foray into nuclear power may have crippled its business beyond repair. http://nyti.ms/2oWd7Hl

    - Uber has lost a string of top managers in recent months as the ride-hailing company has dealt with scandals over its workplace culture and its executives' behavior. That exodus is continuing with the exit of Rachel Whetstone, the company's head of policy and communications. http://nyti.ms/2oWm0kp

    - Rolling Stone and a writer have agreed to settle a libel suit brought by a University of Virginia administrator over a debunked article that described a gangrape at the university, the magazine announced on Tuesday. http://nyti.ms/2oWr08m

    - LeEco has scrapped a planned $2 billion acquisition of U.S. consumer electronics company Vizio, citing unspecified "regulatory headwinds". http://nyti.ms/2oWjmei


    Canada

    THE GLOBE AND MAIL

    ** A landmark deal between TransCanada Corp and Western Canadian natural gas companies for discounted, long-distance pipeline transport comes "just in time" to help stave off some competition from increasing U.S. production, says one of the key backers of the agreement. https://tgam.ca/2p4Zs0j

    ** British Columbia Liberal Leader Christy Clark has launched the 41st general election in British Columbia, laying out a simple campaign theme that she is counting on voters to favour on May 9 – that only her party will keep the province's economy strong and job opportunities growing. https://tgam.ca/2p4TcWw

    ** Canadian oil producers are confident in Alberta's oil sands projects as a long-term play, betting that consolidation and a homegrown focus will drive down operating costs and make the industry more competitive as foreign players retreat. https://tgam.ca/2p4HhI1

    NATIONAL POST

    ** Cenovus Energy Inc CEO Brian Ferguson says the company is encouraged by the interest in its asset divestiture plan to fund part of the mega C$17.7 billion ($13.29 billion)deal to buy ConocoPhillips' Canadian assets, which should help improve investor sentiment around the acquisition. http://bit.ly/2p4YRf4

    ** Pembina Pipeline Corp plans to build a propane export terminal in Prince Rupert, British Columbia where major liquefied natural gas export projects have stalled in recent years. http://bit.ly/2p4HIlD

    ** Canadian oilsands producers worried about international capital fleeing to the U.S. should take heart from the long-term attractiveness of the reserves, according to a senior think-tank advisor. http://bit.ly/2p4Ti0t

    http://www.zerohedge.com/news/2017-04-12/frontrunning-april-12
     
  37. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
    Gold Seeker Closing Report: Gold and Silver Gain Almost 1% While Dollar Drops on Trump Talk
    By: Chris Mullen, Gold-Seeker.com
    Gold saw slight gains in Asia and London and jumped up to $1277.90 by a little before 8:30AM EST before it dropped back to $1272.40 in the next hour of trade, but it then shot back higher into the close and ended near its late session high of $1283.60 with a gain of 0.7%. Silver rose to as high as $18.439 and ended with a gain of 0.82%.
     
  39. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    113,992
    Likes Received:
    35,456
    Trophy Points:
    113

Share This Page