Late last year, reports began surfacing that US diplomatic personnel in Cuba were beginning to experience strange and inexplicable symptoms including dizziness, nausea, memory lapses, difficulty hearing and loss of balance. Initial reports attributed the symptoms to a “acoustic attack,” but neglected to provide any salient details about the specific nature of the attacks, or – more importantly – who might have carried them out. The Cuban government quickly denied any knowledge of the attacks.…"2 More Americans Affected By Mysterious 'Sonic Attacks' In Cuba"
And we’re back at all time highs. With traders paring back risk positions on Friday ahead of a weekend full of potential risk events, Monday has seen a global “risk-on” session in which global stocks rose back to record highs and US futures jumped, the dollar gained, Treasuries retreated, while VIX and dollar slumped as appetite for risk returned to global markets after North Korean failed to conduct an anticipated missile test failed to materialize…"Global Stocks Roar Back To All-Time Highs As Irma, North Korea Fears Fade"
Authored by Doug Bandow via The National Interest, North Korea staged its sixth nuclear test. It was probably a boosted atomic rather than hydrogen bomb, as claimed by Pyongyang, and there’s no evidence that the weapon has been miniaturized to fit on a missile. But the test was the North’s most powerful yet. And it follows steady North Korean progress in missile development. Despite matching Kim Jong-un bluster for bluster, President Donald Trump is doing…"A Nuclear North Korea Is Here To Stay"
A quick preview of today’s key economic release, the US Q2 GDP number due at 8:30am ET, courtesy of the analysts at FX Daily. In the wake of the strong durable goods number yesterday, where the Jun rise of 6.5% was over double what the market was expecting, projections for today’s Q2 GDP have been revised higher by some of the leading bank research teams. Forecasts have bee raised by some 3-5 tenths of a…"Q2 GDP Preview"
Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality. And while the post-crisis recovery has returned the national home price index to its highs from early 2007, most of this rise was generated by a handful of urban markets like New York City and San Francisco, leaving most Americans behind. To wit: home prices in the 10 most expensive…"What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak"
In the clearest indication yet that OPEC jawboning no longer has an effect on markets, and especially headline scanning algos, following numerous headlines from Saudi energy minister Khlaid Al-Falih overnight warning that the oil rebalancing is imminent, and in case it isn’t, it will come in 2018 when OPEC and Non-OPEC producers may extend their production cuts, this morning oil is firmly hugging the flatline after a failed attempt to push higher earlier in the…"Market Mocks OPEC Crude Jawboning; Morgan Stanley Warns Of Risks To 2018 Oil Price"
Authored by David Stockman via The Daily Reckoning, The lemmings are running hard towards the cliffs today. Despite a renewed burst of bombs and drones careening into the already rubble-strewn wastelands of Afghanistan, Yemen, Syria and Iraq. Or the outbreak of cold war style nuclear brinksmanship on the Korean peninsula — what one commentator properly called a Cuban missile crisis in slow motion. Likewise, forget that the vacationing Congress is set to return on April…"David Stockman On The Anything President And The Everything Bubble"