Markets.....
Global bonds gained $813bn in value this wk as inflation expectations collapsed, China curve went inverse & on safe haven bid w/ Trump chaos
New Russia probe leaks threaten to derail Trump's first foreign trip. Watergate's ghosts haunt Trump in Saudi Arabia http://reut.rs/2qxI6cq
Global stocks have lost $180bn in mkt cap this week on Trump slump as investors switched to risk-off. Volatility surged on US pol headlines.
US.....
Treasury yields suffer largest weekly fall in a month, as stocks stage a rebound
US 10y-2y yield spread has fallen below the critical 100bp mark and brought S&P Financial sector down as well.
Stocks Slip, Crude Rips, As Dollar Dives Most In 10 Months http://www.zerohedge.com/news/2017-05-19/stocks-slip-crude-rips-dollar-dives-most-10-months …
ForexLive Americas FX news wrap: The euro cracks 1.12
Yesterday's sudden drop in cable and jump in the US dollar still reverberates
WTI futs settle up 98c at $50.33/bbl
Europe.....
British Pound has risen above $1.30 as speculators have cut their short positions dramatically.
Euro trades above $1.12 for 1st time since Nov. Has a lot more upside potential when measured by speculator's positions that turned bullish.
Merkel & Schäuble to push for Buba's Weidmann to become 4th ECB pres, arguing it’s Germany’s turn after NL, FR & IT, Spiegel says. (via BBG)
Brazil........
How to Lose 40% in a Day. NEW POST. $BRZU https://pensionpartners.com/how-to-lose-40-in-a-day/ …
Will Brazil Rebound Last? Tape Alleges 3 Presidents Took Bribes http://on.barrons.com/2q1vxn6 via @DeFotis
Brazil securities watchdog probes JBS currency, stock purchases http://reut.rs/2qxsXHX via @Reuters
Brazil Prosecutor Says Temer, Neves Sought to Halt Carwash
PLEA-BARGAIN TESTIMONY INDICATES BRAZIL PRESIDENT TEMER ALLEGEDLY RECEIVED 15 MILLION REAIS IN BRIBE IN 2014
JBS PLEA-BARGAIN TESTIMONY SAYS EX PRESIDENT DILMA ROUSSEFF RECEIVED $30 MILLION IN BRIBES IN OFFSHORE ACCOUNTS
JBS PLEA-BARGAIN TESTIMONY SAYS EX PRESIDENT LUIZ INACIO LULA DA SILVA RECEIVED $50 MILLION IN BRIBES IN OFFSHORE ACCOUNT
Fitch affirms #Brazil at BB; Outlook neg as pol events related to Temer have increased uncertainty regarding reforms https://www.fitchratings.com/site/pr/1023923
US Politics ....
White House lawyers researching impeachment process: report http://hill.cm/ZIjo05e
Comey will have his opportunity to be heard...
Trump tells Russia he fired "nut job" Comey --NYT
White House reacts to @nytimes story saying Trump told Russians Comey was a "nut job" https://bloom.bg/2qG64R7
Current White House official is 'significant person of interest' in Russia probe - WaPo
This is interesting piece on the status of Obamacare. Not a death spiral , but clearly ailing.
Update on Puerto Rico -3 Creditors Committees to be appointed by the US Trustee.
Appointment of Mueller could complicate other probes into alleged Russian meddling
First trip highlights..
Trump’s 1st foreign trip is key test for Jared Kushner, entrusted with Mideast portfolio and big-picture planning.
Trump team hopes trip's substance --big natl security, business announcements--generate headlines that push Comey, Russia off front pages.
Saudi Arabia won 1st stop after promising US investments -- US infrastructure, and purchases of hundreds of billions in military equipment.
No announcement today regarding FBI Director Nominee selection.
BOEING MILITARY SALES DIVISION WORRIED ABOUT CANADIAN THREAT TO SCRAP PROPOSED SUPERHORNETS PURCHASE- SOURCE FAMILIAR WITH SITUATION
BOEING MILITARY SALES DIVISION SEEKING TO CONTACT CANADIAN OFFICIALS TO MITIGATE POSSIBLE IMPACT ON SUPERHORNET SALE- SOURCE
Trump asked Comey when FBI would announce he was not personally under investigation: report http://hill.cm/zYNi71l
Europe In Focus....
Greece....
KEPE: Stem 'brain drain' and make the most of it http://dlvr.it/PBTzCN
Municipal workers launch four-day strike http://dlvr.it/PBSC84
Moscovici Urges Lenders to Agree on Comprehensive Deal for Greece http://dlvr.it/PBSXCH #Greece
EU Commission Welcomes Voting of Measures in Greek Parliament http://dlvr.it/PBKvwN #Greece
Athens Medical Assctn condemns police's use of tear gas agnst demostrators on Thur, says they pose serious health risks+should b abolished
UK.....
UK police say WikiLeaks' Assange will be arrested if he leaves Ecuador's embassy http://reut.rs/2q1YY8z
LISTEN: PoliticsHome podcast, featuring Vote Leave top dog @GiselaStuart and an in-depth party manifesto review - http://bit.ly/2mkRJXO
Theresa May: Jeremy Corbyn too weak to stand up for the Union even if he wanted to - http://bit.ly/2rlUv4i
Tories set to have more female MPs than Labour for first time ever http://bit.ly/2qWoLmR
John McDonnell: Theresa May demanding 'blank cheque' with uncosted manifesto http://bit.ly/2qvSIsd
EU has a long history of misjudging UK politics - this is the biggest danger to Art 50 deal http://eurointelligence.com/public
France.....
Emmanuel Macron in Mali: France committed to fighting terrorism http://f24.my/1FQY.t 
Protest over “no-go zone for women” in Paris immigrant district http://dlvr.it/PBQCsw
FRENCH SECURITY RESEARCHERS SAY THEY HAVE FOUND METHOD TO DECRYPT WINDOWS FILES LOCKED BY WANNACRY RANSOMWARE
FRENCH RESEARCHERS SAY "WANNAKEY" METHOD ONLY WORKS IF INFECTED COMPUTERS HAVE NOT BEEN REBOOTED
Macron riles media with reporter ban http://dlvr.it/PBFNVr
Europe Polling Data.....
Germany, Civey poll:
CDU/CSU-EPP: 38%
SPD-S&D: 26%
LINKE-LEFT: 9%
FDP-ALDE: 8%
AfD-ENF: 8% ↓
GRÜNE-G/EFA: 7%
#btw17
Germany, YouGov poll:
CDU/CSU-EPP: 38% ↑
SPD-S&D: 25%
LINKE-LEFT: 9% ↑
FDP-ALDE: 9%
AfD-ENF: 9%
GRÜNE-G/EFA: 7%
#btw17 #ltwnrw
Italy, Ixé poll:
PD-S&D: 29% ↑
M5S-EFDD: 29% ↑
FI-EPP: 13%
LN-ENF: 12% ↓
FdI-*: 5% ↑
AP-EPP: 3%
DP-S&D: 3%
SI-LEFT: 2%
France, Harris poll:
EM+-ALDE: 32%
FN-ENF: 19%
LR+-EPP: 18% ↓
FI-LEFT: 16% ↑
PS+-S&D: 6%
EELV-G/EFA: 3%... http://fb.me/1YICLIAS9
Libya .....
#Libya Arab League condemns Brak airbase attack
President Council suspendes MoD al-Barghathi & Third Force leader Jamal Tariki during the investigation time after Brak al Sathi attack.
#Libya Serraj suspends Barghathi & Al-Treki over Brak killings. But unclear if PC has control over Treiki’s militia
141 died in Brak massacre says Mismari -
Misratan lawmakers deplore Brak Al Shatti slaughter but military justify it -
3rd Force account has published a message stating that the brigade was established under Zeidan GVT & can prove orders from MoD, PC, Kajman.
#libya PC passes a resolution that includes suspension of their Min.Of Defense+3rd Force commander pending an investigation into Brak attack
Spox of 3rd Force also told the BBC they had no casualties in Brak al-shati and that they captured 15 combattants And ammunition. #libya
Note: The deaths in yesterday's Brak Al-Shati massacre are basically all from head wounds. Al-Qaeda/LIFG did the executions. #LIFG
Misrata forces involved , if there were doubts to the contrary...very bad sign.
Egypt blasts yesterday's massacre as brutal assault and terrorism. Heat just got turned up on PC/GNA/MoD.
Libya air base attack that killed dozens could be war crime, warns UN envoy - Irish Independent
Statement from PC re. Brak el shati attack - denied instructing the Ministry of Defence to order the attack #libya 1/2
2/2 PC says ordered an investigation into Brak-vowed to hold ppl to account "even if they were claiming loyalty to the government" #libya
Spox of 3rd Force to BBC- denied their fighters carried out executions of LNA fighters, said fighting was in close quarters. #libya
More evidence of the #BrakalShati massacre committed by forces that have links with UN-bakced GNA in #Tripoli https://twitter.com/MatogSaleh/status/865564865221537793 … #Libya
Important from independent dialogue member Fadel Lamen re #BrakalShati massacre yesterday https://twitter.com/Fadellamen/status/865565884517056512 … #Libya
#Libya UK Libya ambassador calls for investigation into reports of mass executions at southern air base
UN Envoy to Libya Kobler weighs in on yesterday's massacre..
The Brigade *13* entered in the base following clashes around it. At least one plane was destroyed and vehicles + ammunitions seized.
Odds & Ends....
Rouhani re-elected by wide margin in Iran !
Vote counting starts after heavy turnout in #IranElection http://ara.tv/4feaa
Mattis: North Korea Military Solution Would Be "Tragic On An Unbelievable Scale" http://www.zerohedge.com/news/2017-05-19/mattis-north-korea-military-solution-would-be-tragic-unbelievable-scale …
That North Korean missile really worked, U.S. officials say http://nbcnews.to/2qFZYAq #NBCIntelDesk
The final casualty numbers for the double car bomb that rocked Abu Dashir southwest #Baghdad are 4 dead and 14 wounded. #Iraq
Medical reports indicate over 30 civilians were wounded in the double blast, numbers are not final yet. #Iraq
Poland defies EU over asylum seekers. Will the EU now takes steps to sanction Poland and others who defy EU asylum seeker edicts ?
Jaafari: 'We had one expert meeting yesterday b/w our experts & those of the special envoy. This is the only result from this round.' #Syria
#SYRIA: Technical meetings seem to be watered-down version of SdM proposal on team tasked w/ 'specific options for constitutional drafting'
DoD-backed Maghawir al-Thawra just confirmed to me no reversal yet to the request to relocate from al-Tanf. See here http://www.cnn.com/2017/05/18/world/us-syria-airstrikes/index.html …
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