Markets......
Before the collapse in Crude that began in mid 2014, Energy was the top performing sector ETF since inception.
Big gain for $WTI today, up $1.22 to $44.66 a barrel. 22, 44 and 66 in the same sentence.
Bear food: @EIAgov STEO report sees inventories building until Q3 2017 (not typo there, that's 2017 and not 2016)
Shorter version - Central Bankers have painted themselves in a corner.
Central Bank Balance Sheet Growth, 2008-16
Fed: +401%
BOJ: +272%
ECB: +100%
JPM: Global FX reserves have plunged $1.2tn since mid-2014 BUT there are hints of stabilization.
Greece.......
JPM: Global FX reserves have plunged $1.2tn since mid-2014 BUT there are hints of stabilization.
France.......
No confidence vote (s) loom this week. Absolute majority of 289 votes required. Stay tuned.
LIVE: Protests to hit Paris after govt. announces approval of labour reforms http://ow.ly/YgI730056fw #LoiTravail
Railway workers protest as govt. debates labour reforms #LoiTravail
VIDEO: http://ow.ly/7aDh3005foO
French PM to use 'Article 49.3' nuclear weapon (again) to bypass parliament with the latest controversial jobs bill.
EU In Action - Brexit / Turkey - EU Deal....
Germany says Turkey -EU Deal is top priority -but Turkey expected to honor its commitments , as EU will its own.
Excellent overview & analysis. Touches on the various issues in a straight forward manner.
IDS’s claim about Germany’s hidden EU renegotiation role is hugely damaging for ‘Remain’ http://blogs.spectator.co.uk/2016/05/idss-claims-about-germanys-hidden-eu-renegotiation-are-damaging-heres-why/ …
Mish's comments make for interesting reading and are basically on point.
A press release by Commission has outlined the five benchmarks which still need to be met by Turkey before June 2016
Refugees.....
Yesterday 11 Iranians were found & today the 69 discovered on the Gevgelija-Skopje highway included Afghans, Iraqis, Pakistanis & Syrians
#Macedonia finds 69 illegal migrants in truck among 110 the ex-Yugoslav republic has discovered in the past 24 hours
Kenya can't bear refugee burden any longer. This scene will be repeated in various host nations.
Not exactly efficient...
Another example of faltering refugee systems in Europe..
Safe Country for refugees ? Right...
2016 Mediterranean Sea Arrivals: 184,913
82% from the world’s top 10 refugee-producing countries
via @Refugees
March /April 2016, Turkish guards used violence against Syrian asylum seekers & smugglers, killing 5 , injuring 14.
Odds & Ends
This article should be at the top of must read articles for today.
Another terror event in Turkey. Which is going to further encourage Erdogan to hold his ground against the EU.
Al Nusra is Syria's Al Qaeda franchise ....not moderate under any analysis..
You really make up the political slapstick comedy routines of Brazilian politics.
Podemos leaders already tweeting "the PSOE doesn't want to get rid of the PP" after quick stunt and rejection.
Looks like it's not just the Brits who are contemplating leaving the EU ......
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