Putin Warns Attack On Iran Would Be "Catastrophic" As US Navy Deploys To Drone Crash Site

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Following China’s warning this week that the United States is poised to open “Pandora’s Box” in the Middle East should it escalate military action against Iran, Russia’s President Vladimir Putin has weighed in, on Thursday saying any American military strike would have “catastrophic” consequences. Putin warned further that US attack “would trigger a surge in violence… Read More

Oil Prices Spike Most In 5 Months As US-Iran Tensions Soar

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2019 06 20 7 31 11

WTI and Brent prices spiked overnight on the headlines about a US drone being shot down by Iran, and just legged higher once again following Trump’s tweet warning that “Iran made a very big mistake.” “Geopolitics is helping oil bulls to make a spectacular come-back after a few days’ of directionless trading,” said Tamas Varga, an… Read More

S&P Opens At All-Time Record High, Rate-Cut Expectations Soar

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2019 06 20 6 23 23

President Trump will be happy. Following Powell’s pivot earlier in the year and total capitulation yesterday, the S&P 500 has now surged to a new record intraday high at the cash open. <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> Futures have just melted up in the last two days… <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> With cash S&P… Read More

US, China Restart Trade Talks As Trump-Xi Meeting Looms

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Almost as abruptly as they collapsed, talks between Washington and Beijing will take place for the first time since the dialogue collapsed last month, with Robert Lighthizer saying he’s planning on calling his counterpart, Vice Premier Liu He, the leader of China’s trade delegation, to restart talks, Reuters reports. <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> China… Read More

Philly Fed Slumps In June As Price Plunge Pressures Margins

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Seemingly confirming the collapse in Empire Manufacturing ‘soft’ survey data, The Philly Fed Business Outlook plunged from 16.6 to just 0.3 in June (well below the 10.4 expectation). While not as big a drop as in February, the slump from the dead-cat-bounce hopes of the last few months is very telling… <!–[if IE 9]><![endif]–><!–[if IE… Read More

U.S. Weekly Jobless Claims Fall To 216K

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(Kitco News) – Initial weekly U.S. jobless claims fell by 6,000 to a seasonally adjusted 216,000 in the week to Saturday, the Labor Department reported Thursday. The data was relatively in line with expectations; consensus expectations compiled by various news organizations had called for initial claims to be around 215,000. The government did not revise… Read More

Why Don’t Millennials Care About Gold? Actually, They Do

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Gold Flows into ETFs for Second Straight Month

June 20, 2019  by SchiffGold  0   0 Do millennials get gold? If you embrace the stereotypes, you may think not. After all, millennials have both feet firmly planted in the digital world. Gold is pretty “old-fashioned.” You might assume they would be far more interested in cryptocurrencies. Or perhaps you just figure millennials aren’t investing at all. But… Read More

Xi, Kim Hold Historic Meeting In Pyongyang 

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President Xi and North Korean leader Kim Jong Un are meeting in Pyongyang Thursday after Xi became the first Chinese leader in 14 years to visit North Korea. And although nobody could say for sure what the two would be discussing, most believed that their mutual difficulties with Washington would likely be on the agenda.… Read More

PRESS DIGEST- Canada – June 20

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June 20 (Reuters) – The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Hudson’s Bay Co won a shareholder vote on a C$29.4 million ($22.28 million) pay package for its Chief Executive Officer Helena Foulkes at… Read More

Doves Rules the Roost Except in Oslo

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doves

Overview:  The prospect of “lower for longer” continues to fuel the bond and stock rally.  The initial US equity response to the Fed was positive but not strong and closed about 0.3% higher.  Asia Pacific equities followed suit with mostly modest gains, except for China and Hong Kong, where gains of more than 1% were… Read More