London Irvine Report

Jean-Claude Juncker. Failed former Luxembourg P.M., serial liar, chief executive of the European Commission. Miraculously Italy was “sorted” last night as the official story became “crisis? ” Politics in Italy is ever in turmoil, Italy’s economy is underpinned by its dark economy, and in any case as the ECB is still ready to buy Italy’s (now higher yielding,) bonds, there won’t be any Italian bank or investment company relationship contagion. Italy, just forget about it!

Besides, the anxiety over, Italy caused capital air travel into US Treasuries reducing yields, so the Fedsters may get to hold off raising rates of interest for a whole lot longer. Italy saved from itself, everybody else got back to the serious job of dressing markets for today’s all-important month-end close.

Ignore the BDI and oil. Below, yesterday’s “don’t get worried be happy, Italy’s unimportant” artificial information. My take, Italy’s problems will grow all summer months long, and Italy’s wonder will last just as long as it requires to dress up today’s currency markets close. Spreadbetters expected Western shares to open higher slightly, with Britain’s FTSE .FTSE edging up 0.05 percent, Germany’s DAX .GDAXI adding 0.1 percent and France’s CAC .FCHI rising 0.05 percent. Hong Kong’s Hang Seng .HSI rose 0.75 percent and the Shanghai Composite Index .SSEC gained 1.4 percent after news that development in China’s vast manufacturing sector accelerated strongly and well above forecasts in May to an eight-month high.

MSCI’s broadest index of Asia-Pacific stocks outside Japan .MIAPJ0000PUS gained 0.apr 6 percent after slumping on Wed to its weakest since early. South Korea’s KOSPI .KS11 added 0.5 percent and Japan’s Nikkei .N225 advanced 0.8 percent. Overnight, the Dow .DJI rose 1.25 % and the S&P 500 .SPX climbed 1.27 percent. Global shares were battered, safe-haven federal government prices sharply rose, and the euro tumbled previous in the week after Italy’s two anti-establishment parties scrapped plans to form a coalition. That raised the chance of a fresh general election, stoking doubts such a vote would effectively be considered a referendum on Italy’s euro account.

A amount of calm, however, returned with both anti-establishment parties renewing efforts to form a coalition government rather than push Italy into holding elections for the next time this year. “Experience shows that these ‘crises’ have a tendency to settle down for very long periods once the initial modification of market objectives has been effected,” Carl Weinberg, main international economist at High Frequency Economics, published in an email to clients. An effective auction of five- and 10-calendar year authorities bonds also assuaged concerns about Italy’s ability to financing itself following the turbulence in its personal debt market sparked the largest one-day spike in two-year relationship produces in 26 years.

Bond yields rise as prices fall. It had been miracle time in Kiev too, or even more accurately “resurrection time, ” as yet another Russian murder proceeded to go disastrously incorrect, ala Salisbury England. You must wonder who’s scripting this traditional western campaign against Russia and just why? Below, Radio Free Europe, America’s propaganda version of Russia’s RT, generates its spin.

Still who wants the Ukraine in NATO faking an incident Hitler v Poland style, triggering nuclear war with Russia? KYIV — Ukrainian security officials said they faked the loss of life of the dissident Russian journalist in order to catch people it says were involved with a Russian story to kill him.

Hrytsak told reporters that Ukrainian intelligence sources learned that Russia’s security services experienced ordered the killing of Babchenko several months previously. Hrytsak also said a suspected organizer of the attempted murder story against Babchenko, discovered as a Ukrainian national, was detained as a result of a “special operation” by the SBU.

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Babchenko made a dramatic appearance at the live May 30 television briefing after Hrytsak’s announcement, stating the fictitious reviews of his death were part of the SBU operation that had been prepared for just two months. Now back again to real news and the Great Global Trump Trade War on the Rest of the World, due to start shortly after we dress up today’s close of the world’s stock marketplaces. European bourbon drinkers, stock now up.

Jean-Claude Juncker. Failed Luxembourg Primary ex-president and Minister of the Euro Band of Finance Ministers. Confessed liar. European Commission President. WASHINGTON (Reuters) – AMERICA will announce plans to impose tariffs on metal and aluminium from europe as soon as Thursday morning, two different people briefed on the problem said, confirming a report in the Wall Street Journal.