zerohedge @zerohedge
Top Overnight news
Sanae Takaichi is poised to become Japan’s first female prime minister after the country’s ruling party elected her as its leader. The yen and long-term bonds fell while the Nikkei 225 jumped to a record. BBG
France's new Prime Minister Sebastien Lecornu and his government resigned on Monday, hours after Lecornu announced his cabinet line-up, in a major deepening of France's political crisis that drove stocks and the euro sharply lower. RTRS
With Sanae Takaichi set to become Japan's prime minister, advancing expansionist economic policies, chances have risen that the central bank will avoid raising interest rates this month, though the pause may not last if it batters the yen. BBG
President Trump said Democrats are causing the shutdown and possible layoffs, while NEC Director Hassett separately commented that mass layoffs of federal workers will begin if President Trump sees that shutdown talks are going nowhere.
Israel and Hamas begin mediated talks in Egypt today. A key sign of progress will be whether Hamas frees all the roughly 20 of its live hostages in return for Israel releasing about 2,000 Palestinian prisoners. BBG
House Republican leaders told members that they plan to stay away from Washington, D.C. during the government shutdown but are ready to get back to work as soon as Senate Democrats reopen the government.
AMD inked a deal with OpenAI to roll out AI infrastructure in a pact the chipmaker said could generate tens of billions of dollars in new revenue. AMD shares +22% premkt. BBG
Trump called for big US homebuilders to start building homes and said they’re sitting on 2 mln empty lots, while he is asking Fannie Mae and Freddie Mac to get big homebuilders going and help restore the 'American Dream'.
Trump authorised the deployment of 300 National Guard troops to Illinois despite the objections of state officials, including Governor Pritzker.
A Judge temporarily blocked the Trump administration from sending California National Guard troops to Portland, Oregon, and blocked the administration from sending Texas or other states' National Guard to Oregon. It was also reported that California Governor Newsom will sue the Trump administration for sending California National Guard personnel to Oregon.
On the US gov't shutdown, Punchbowl surmises that as it stands "There’s no deal in sight to end the crisis". "The notion of Senate Minority Leader Chuck Schumer folding at this point seems very unlikely. Yet if you’re Schumer, you’re watching very closely how a handful of Democratic senators are posturing themselves as the shutdown impacts begin to accumulate". "One Democratic senator told us that some colleagues who want to fold could justify doing so by pointing to the fact that the GOP stopgap funding bill gives Democrats another leverage point in just six weeks. However, this argument would cut against the party’s messaging…" with reference to the Obamacare expiry.
U.S. sanctions make it nearly impossible to pay Iran for its oil. China has figured out how to do it anyway, in an arrangement that has largely been secret. The hidden funding conduit has deepened economic ties between the two U.S. rivals in defiance of Washington’s efforts to isolate Iran. WSJ
During President Trump’s second term, China hawks in Washington fear that Trump is going soft. As Trump pursues a trade pact with the US’s biggest economic and strategic rival, advocates of a tougher China policy fear they’re being sidelined inside the administration as the tech industry’s influence grows — alongside the president’s appetite for what he’s called “a big deal.” BBG
OpenAI’s Sam Altman approached TSMC, Foxconn, Samsung and SK Hynix to help secure supplies for computing capacity, the WSJ reported. BBG
The White House is holding off from layoffs at least until today, economic adviser Kevin Hassett told CNN, to see if Democrats cave when the Senate is due to vote on a stopgap bill. BBG
https://twitter.com/zerohedge/status/1975173239199367640
>>841f03
Your "Parakletos" sock was moar interdasting than just a t-shirt.
Bobby Piton @BobbyPiton3
https://justice.gov/archives/jm/criminal-resource-manual-1601-background-18-usc-351
Something to think about for enemy combatants/mercenaries/rogue intelligence operatives operating on US soil…
"Scope of military involvement: The law explicitly states that the FBI can request assistance from any federal, state, or local agency, including the Army, Navy, and Air Force, despite prohibitions that would normally apply."
"Waiver of Posse Comitatus Act: This provision acts as a specific waiver to the Posse Comitatus Act, which otherwise restricts the use of the military in civilian law enforcement."
https://twitter.com/BobbyPiton3/status/1975184943853470022 /history
Well, she certainly didn't violate any transshipment rules, as they carried no cargo other than empty platitudes and vacuous social media posts.