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In two stunning geopolitical developments over the past 24 hours, Turkey – which is finding itself increasingly snubbed by not only Europe but also the US – has pivoted dramatically and shortly after restoring full deplomatic ties with another country that has recently seen the cold shoulder from the Obama administration, namely Israel, moments ago […]

For the first time since March, the S&P 500 has tumbled below its 200-day moving average; the last two times it broke this trend, things escalated very quickly. The cash S&P index is now down 100 points from pre-Brexit euphoria but Dow futures are down almost 1000 points from the 18,025 highs pre-Brexit. S&P breaks […]Read More

Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. With the arrival of President Hugo Chávez in 1999, Venezuela embraced Chavismo, a form of Andean socialism. In 2013, Chávez met the Grim Reaper and Nicolás Maduro assumed Chávez’s mantle. Chavismo has not been confined to Venezuela, however. A form […]Read More

The June flash Services PMI printed 51.3, flat to May but below 52.0 bounce expectations with both employment down (3rd monthly drop in a row to lowest since Dec 2014) and optimism tumbling – “service providers indicated another drop in confidence regarding the year-ahead business outlook, with the latest reading the weakest since the survey […]

In a key victory for abortion advocates, moments ago the Supreme Court voted to strike down a Texas law regulating the state’s abortion clinics, finding the rules were an “undue burden” on a woman’s right to terminate her pregnancy. The court’s 5-3 decision tosses out a previous ruling by an appellate court, which abortion rights […]Read More

“Fortress balance sheets”? The Brexit contagion is spreading as USD liquidity and counterparty risk in the interconnected global financial system has reached US banks with Goldman at 3 year lows and BofA and Citi plunging over 12%. This happens just two days after the Fed released its latest stress test results finding that none of […]

In a much anticipated speech to The House of Commons, UK PM (for now) David Cameron is expected to tell his parliamentary peers that he and his cabinet agree there will be no second referendum as part of a formal statement on the Brexit vote. As Channel 4 reports, they don’t want false hopes or […]

Front-running is not impossible. If you keep up on the news and take time to understand economics, it’s possible to see imbalances, and trade them. In 2008, it was pretty clear to plenty of people in 20006 and 2007 that banks were stupidly loaning to people who can’t repay. Trading appropriately got you made fun […]

How is the US presidential election shaping up in the polls? Well, it depends on which media outlet one chooses to rely on. There have been two new polls released recently by major media outlets, each with vastly different results, which incidentally should not come as a surprise those who bet on a sure thing […]

WTI Crude has tumbled back to a $46 handle this morning (from over $50 on Friday) with Brexit volatility weighing on every asset class and Nigeria and Canada restart production (following rebel attacks and wildfires respectively) but as OilPrice.com’s Charles Kennedy notes companies pumping oil from the Gulf of Mexico will ramp up production in […]

Share on Facebook Tweet on Twitter The United States Mission in Nigeria announced on Monday the passing away of John Paul Ojaojogwu Usman who was studying civic leadership as a 2016 Mandela Washington Fellow. He died on June 25 due to an accident while hiking near Virginia Polytechnic Institute and State University where he was studying, the […]

Arica focused investment bank Renaissance Capital has come out with a note this morning upgrading UBA to a buy with a target price of N9.4 per share. That’s a whooping 91 percent upside to its closing price of N4.9 on Friday. RenCap says it recently met with top management of UBA to discuss the rising […]