Morning Market Report

POTUS is calling out the ECB for manipulation of the euro, they do it to try and keep the trade deficit down so no surprise really.

This is setting the stage for the ECB (BIS) to 'adsress' the Deutsche Bank declaration from

yesterday. In other words the ECB will most likely say they will buy the 'bad bank' assets

from DB (BTW that amount is about 1% of the total amount of crappy paper they have) when what they will

really do is just hand them money. This is what habbened here with the TARP bailout.

The bank CEO's went to W's White House and Hank Paulson former CEO of Goldman, agreed to recapitalize

all of them. Of course the had a 'voting'process that never went anywhere and on a sunday afternoon/evening

they did a backdoor deal-that Pelosi approved-to bailout the big banks. Pepe broke things in house that day.

Some Headlines

Facebook launches a new cryptocurrency called Libra

Facebook is leading a consortium creating a new digital currency called Libra.

Partners include payments companies Visa, Stripe, PayPal and Mercado Pago, and that will help merchants accept Libra.

Some tech companies are also on board, including eBay, Lyft, Uber, Spotify, and Latin American payments platform Mercado Pago.

https://www.cnbc.com/2019/06/17/facebook-announces-libra-digital-currency-calibra-digital-wallet.html

good luck with that-even now people will still embrace it-spergs.

POTUS says ECB’s Draghi is depressing euro to benefit trade

Draghi’s surprise comments Tuesday on upcoming stimulus if necessary sent shared currency lower.

https://www.marketwatch.com/story/trump-says-ecbs-draghi-is-depressing-euro-to-benefit-trade-2019-06-18?

just like China, walk out some rhetoric about printing and instantly your currency drops.

Draghi Unleashes Global Chaos With Preview Of More Stimulus, Prompts Angry Response From Trump

A full dovish capitulation by the ECB chief, which in a market addicted to monetary stimulus, was just what the bulls needed to hear.

The news sent global stocks surging…S&P futures up 14 points, and back over 2,900…… the German 10Y Bund yield tumbling to an all time record low below -0.30%..

'''The german debt issue is going to have major issues soon, it's been bubbling for a few years however when it actually costs the holder money to

carry these you can see that the only participants are ones that are systemic participants.'''

US 10Y Yields plunged to new lows, and just 3.2bps away from a 1-handle!

See cap#3

Of course, Draghi isn't even the main event. Traders were far more focused on what the Federal Reserve announces on Wednesday to see whether Chairman Jerome Powell

and his colleagues will validate widespread expectations for interest-rate cuts. The ECB's announcement may just have changed the calculus.

Asian equity markets mostly saw cautious gains ahead of this week’s key risk events and following the marginal gains in the US where trade was otherwise

uneventful aside from the strength in tech and telecoms. ASX 200 (+0.6%) and Nikkei 225 (-0.7%) were mixed

In commodities, WTI and Brent futures are lower on the day with the former just above the USD 51.50/bbl level whilst the latter hovers around the USD 60.50/bbl mark.

US Event Calendar

8:30am: Housing Starts, est. 1.24m, prior 1.24m; MoM, est. 0.4%, prior 5.7%

8:30am: Building Permits, est. 1.29m, prior 1.3m; MoM, est. 0.23%, prior 0.6%

US Trade Representative Lighthizer is due to testify in Congress.

https://www.bloomberg.com/markets/stocks/futures

https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx

https://www.dailyfx.com/crude-oil

https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/

>>6778852

Gold jumps toward 14-month high as investors bet on dovish central banks

Gold prices on Tuesday jumped to the highest levels in more than a year as comments made in Portugal by European Central Bank President Mario Draghi ahead of a meeting of the Federal Reserve is seen as setting the stage for lower interest rates.

August gold GCQ19, +1.00% jumped $10.70, or 0.8%, to $1,353.60 an ounce, which would mark the highest settlement for the most-active contract since April 11, 2018 when it closed at $1,360 an ounce, if prices hold, according to FactSet data.

At an annual conference in Sintra, Portugal on Tuesday, Draghi said the ECB could roll out fresh stimulus as soon as its next policy meeting in July, which sent the U.S. dollar lower against the euro and boosted most major equity benchmarks, because investors have been betting that central banks would ease monetary policy in the face of stubbornly low inflation, and a global economic slowdown that is being exacerbated by a tariff battle between the U.S. and other countries.

Draghi’s comments come as the Fed is preparing to start its two-day policy-setting meeting, where markets are widely anticipating that it will at least set the table for a rate cut in the coming month.

Uncertainty about the global economy and the trade conflict have helped to drive appetite for precious metals.

Signs that central bank’s may support rate cuts pushed yields on global debt lower which is bullish for gold which doesn’t offer a yield. The yield on the 10-year Treasury note TMUBMUSD10Y, -2.85% hit its lowest in more than 20 months at 2.03% while the comparable German debt TMBMKDE-10Y, +31.52% known as the bund, was at a record low at negative 0.322%.

https://www.marketwatch.com/story/gold-jumps-toward-14-month-high-as-investors-bet-on-dovish-central-banks-2019-06-18

https://www.kitco.com/charts/livegold.html

>>6778917

they must deal with DB and the token amount they said they were going to sequester will not address it in the long term. Just gives super mario the basis to give them moar euros to paper over the continued mess.

>>6778997

>>6779004

>>6779053

how could he not know? No way he was unaware

>>6779065

when he 'crashed' the bberg meetings with the bullhorn shit that's when i knew he was a fraud and supported-and that was 15 years ago or so, the child porn stuff is just a narrative that makes people think he is unaware.

you don't get to that level without help.

he knows/knew.

>>6779068