Overview: The Iranian retaliatory missile strike on Iraqi-bases housing US forces initially sparked a dramatic risk-off response throughout the capital markets. The muted response by the US coupled with signals from Tehran that it had “concluded” its proportionate measures saw the markets retrace the initial reaction. It was too late for equities in the Asia Pacific …
Overview: Iran’s Ayatollah Ali Khamenei has threatened “severe retaliation” for the US attacked that killed an important head of a force within the Islamic Revolutionary Guard. At the same time, reports indicate that North Korea’s Kim Jong Un is no longer pledging to halt its nuclear weapons testing and has threatened to unveil a …
Overview: It is far from clear that the US sanctions against nine Iranian officials, with the foreign minister to be added later brings negotiations any closer. At the same time, US officials trying to keep expectations low for the weekend meeting between Trump and Xi. The heightened political anxiety will have to make room for …
Overview: The Trump-Xi meeting at the G20 this coming weekend and heightened tensions in the Gulf, with the US set to impose new sanctions on Iran’s crippled economy are keeping investors on edge. News the opposition won the re-do of the Istanbul mayoral election has lifted the Turkish lira. Most of the major Asia Pacific …
A tropical storm is headed for the Gulf of Mexico, and this is helped oil prices extend last week’s 5.4% rally. Light sweet crude oil for October delivered is about 1.6% higher at $70.80. It has been up to $71.40. The multi-year peak on the continuation futures contract was set in early July near $75.25. …
Russia and Saudi Arabia play each other to open the World Cup on June 14. Soccer may not explain the world as well as Foer traces in his famous 2004 book (How Soccer Explains the World), but it may set the stage for the oil producers’ meeting next week. Neither country’s football team are regarded …