Monarchy tries to build economic and religious ties in region, taking more independent tack after tensions with U.S. ally. Source: Saudi King Leads Hundreds of Princes, Clerics, Military Officials on Asia Trip – WSJ
As the ideological shift in Washington threatens to undermine U.S. influence in a region it transformed, Beijing sees Donald Trump as a godsend. Source: China Gloats as Trump Squanders U.S. Soft Power – WSJ
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Retail investors have fled high grade European bonds at their fastest weekly rate in seven years according to analysis from JPMorgan, highlighting escalating fears over a packed roster of major elections in the coming months.Over €1bn was pulled from investment grade euro corporate funds last week, according to the US investment bank, which is warning of the “non trivial risk of hitting an electoral landmine” in the continent this year. Source: Political jitters send retail investors fleeing from European corporate bonds We have been saying for a few weeks now the biggest risk we see is the unraveling of … Read more
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As a result, many senior citizens will either have to work longer, move to less expensive places or pare back their spending—choices that economists say are likely to put a drag on the U.S. economy. Source: With $15 Left in the Bank, a Baby Boomer Makes Peace With Less – WSJ
WASHINGTON — President Trump, smarting from a series of crises, moved his surrogates aside on Thursday and assigned the rescue of his month-old presidency to the only spokesman he’s ever really trusted — himself. For days, a frustrated and simmering president fumed inside the West Wing residence about what aides said he saw as his staff’s inadequate defense and the ineffectiveness of his own tweets. Over the objections of some top advisers who wanted to steer him away from confrontation, Mr. Trump demanded to face the media, determined to reject the narrative that his administration is sinking into chaos, scandal … Read more
President Trump announced a new nominee for labor secretary and answered questions from reporters at the White House on Thursday. Source: Full Transcript and Video: Trump News Conference – The New York Times I had two watch this one twice. It will go down in history as one of the best ever American President press conferences I have seen.
May. Source: Investors still aren’t taking ‘Frexit’ seriously enough – MarketWatch
There are tens of thousands of Chinese obtaining foreign citizenship every year,” said Denny Ko, an immigration lawyer in Hong Kong who advises rich Chinese clients, adding that Mr Xi’s crackdown has spurred an increase in applications over the past four ye Source: Foreign passports offer little protection for China’s elite
“I would like you to uphold the ‘One China’ policy,” Mr. Xi said to Mr. Trump in a scripted exchange.“At your request, I will do that,” Mr. Trump had just come from dinner with Republican donor Sheldon Adelson, Secretary of State Rex Tillerson and Nicki Haley, the U.S. ambassador to the United Nations. Source: U.S., China Coordinated Policy Reversal – WSJ Sax Angle take: Sheldon Adelson, CEO and majority shareholder of Las Vegas Sands was Trump’s single largest donor to his Presidential campaign. Las Vegas Sands (LVS) has extensive casino holdings in Macau. Does this sound like “drain the swamp”? … Read more
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There is no excerpt because this is a protected post.
President Donald Trump on Friday plans to sign an executive action to scale back the 2010 Dodd-Frank financial-overhaul law, in a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis. Source: Donald Trump Plans to Undo Dodd-Frank Law, Fiduciary Rule – WSJ Will somebody be kind enough to explain why the fiduciary rule is a bad thing? According to the WJS “Mr. Trump will use a memorandum to ask the labor secretary to consider rescinding a rule set to go into effect in April that orders retirement advisers, overseeing about $3 trillion in … Read more
LONDON — The European Union is accustomed to crises. But it is probably safe to say that none of the 28 leaders who are gathering in Malta on Friday expected the crisis that has unexpectedly overtaken the agenda: the United States of America. Source: For Europe, There’s a New Threat in Town: The U.S. – The New York Times I personally don’t think Trump is a threat to the U.S. stock market. He may even be a good thing if the country doesn’t break out into civil war. But I think Europe and the euro represent a real risk.
Source: Donald Trump said Amazon and Jeff Bezos have a ‘huge antitrust problem.’ Now they may. – Recode
By itself, the 230-point drop in the Dow Jones Industrial Average DJIA, +0.14% this week wasn’t earth shattering: 1% gains and losses happen all the time. But the clattering sound accompanying it wasn’t hard to diagnose: It was the sound of scales falling off of Wall Street’s eyes. The market this week is dealing with the realization that President Donald Trump means all the things he says. He really is a protectionist,really does think America needs to be protected from the world both economically and physically. He really does make policy without much care or thought to get details right, … Read more
