TOP NEWS: Week 05/22 – 05/28

Weekend 05/27 & 05/28

Goldman buys $2.8 billion in Venezuela bonds – Marketwatch
Merkel says Europe ‘must take our fate into our own hands’ after tough G-7, NATO meetings – cnbc

Italy’s Renzi suggests next election be synchronized with Germany’s – Reuters



Friday 05/26

Global Pension Underfunding Will Hit Nearly Half A Quadrillion Dollars In 2050 – Zerohedge
Shari’ah-Compliant Crypto Gold: Could Islam Be Preparing For A New World Reserve Currency? – Zerohedge
Trump Slams “Very Bad” Germans For Selling Millions Of Cars In US: “We Will Stop This” – Zerohedge
And The Best Performing Stock Market In The World Is… – Zerohedge
Nasdaq, S&P eke out record close as stocks finish week with strong gains – cnbc
Fed Plan Falters As Euro Inflation ‘Surprise’ Sparks Bund Fears – Zerohedge
All Hell Breaks Loose In Toronto’s House Price Bubble – Zerohedge
China Unexpectedly Changes Yuan Fixing Mechanism Sparking Confusion, Concern – Zerohedge
These Are The Most Overbought And Oversold Assets In The World Right Now – Zerohedge
70% Of Millennials Have Less Than $1,000 Saved For Buying A House – Zerohedge
Why OPEC Couldn’t Move Oil Prices Higher – Zerohedge
Q1 GDP Revised To 1.2% On Stronger Spending, Capex, While Corporate Profits Tumble – Zerohedge
Core Durable Goods New Orders Plunge In April – Zerohedge


Thursday 05/25

Oil price tumbles after Opec deal; UK growth unexpectedly downgraded – as it happened – guardian

S&P and Nasdaq close at record highs as big tech stocks rise – cnbc
Fed Trial Balloon: JPM Warns Fed May Start Shrinking Balance Sheet In September – Zerohedge

Oil is getting whacked even after OPEC agrees to extend production cuts – businessinsider
OPEC, non-OPEC extend oil output cut by nine months to fight glut – Reuters
Catalonia Threatens Spain With “Financial Bloodbath” – Zerohedge
Q2 GDP To Suffer As Retail, Wholesale Inventories Tumble In April – Zerohedge
Bitcoin surges 12% to all-time high above $2,700; has now doubled in May – cnbc
“Something’s Breaking” – Yuan Suddenly Spikes To 2-Month Highs – Zerohedge



Wednesday 05/24

China downgraded by Moody’s for first time since 1989 – business live – guardian

Wall Street’s Take On The Fed Minutes: June, Sept. In Play; BS Unwind May Come Sooner – Zerohedge
FOMC Minutes Signal Rate-Hike “Soon”, Economic Weakness Probably “Transitory” But Need “Evidence” – Zerohedge
ESM: Greece won’t need debt relief if it keeps its surplus above 3%/GDP for 20 years – Reuters – fxstreet

Fidelity Is Mining Bitcoin, CEO Abigail Johnson Admits – Zerohedge
China’s Downgrade Could Lead to a Mountain of Debt – Bloomberg
China rejects ‘inappropriate’ credit downgrade, says it ‘exaggerates difficulties’ – cnbc
 China Hit by First Moody’s Downgrade Since 1989 on Debt Risk – Bloomberg



Tuesday 05/23

Moody’s Downgrades China Over Worries About Its Growing Debt – nyt
Soft Data Collapse Continues – Richmond Fed Crashes – Zerohedge
Iraq Mulls Largest Sovereign Oil-Hedging Deal, Topping Mexico – Bloomberg
Investors Can’t Be Into Both the Yen and Emerging Markets Forever, BofAML Says – Bloomberg
New Home Sales Collapse In April – Zerohedge
Portugal’s Centeno Hopes for Europe-Wide Solution for Bad Loans – Bloomberg
“Somewhat Underwhelming” US Manufacturing Slumps To 8-Month Lows As Services Rebound Amid Soaring Costs – Zerohedge

Booming German Economy in Election Year Puts ECB in Crossfire – Bloomberg
Greek Bonds Would Be A Great Investment, If Anyone Actually Traded Them – wsj
Eurozone growth holds steady at six-year high in May – markit

Germany’s Busy Factories Bring Fastest Growth in Six Years – Bloomberg
Here’s BAML’s latest currency market forecasts – businessinsider

Trump Seeks Historic $3.6 Trillion In Spending Cuts, Including Selling Half The US Strategic Oil Reserve – Zerohedge
German Upswing Takes Business Sentiment to Highest Since 1991 – Bloomberg
NOMURA: The greenback is at the start of a new downtrend – businessinsider
Five Things You Need to Know to Start Your Day – Bloomberg
JAPAN: Growth softens to six-month low in May – markit
INTERVIEW: An Oxford professor on how robots will change work, politics, and the global economy – businessinsider
Euro zone ministers, Greece, fail to reach bailout deal – Marketwatch
China’s Bond Market Chaos Continues – Yield Curve Double-Inverts – Zerohedge



Monday 05/22

Markets rise ahead of Greek bailout talks – business live – guardian

19 killed, at least 50 injured in explosion at Ariana Grande concert in Manchester, England – Marketwatch
Gold’s golden cross: The metal just formed a chart pattern that can signal a breakout – cnbc
Why the Permian Basin Is OPEC’s New Headache: QuickTake Q&A – Bloomberg
As internet stocks hit records, familiar questions about bubbles arise – Marketwatch

Traders just got a sign the stock market rally has a long way to go – businessinsider

JPM Cuts 10Y Yield Forecasts “Significantly Lower” Due To Weaker Inflation Outlook – Zerohedge

Defense stocks roar higher on $110 billion US-Saudi Arabia weapons deal – CNBC

Brazil: Hit by a political atomic bomb – Natixis – fxstreet

‘The big equity run is over,’ says strategist who called Trump rally before election – CNBC

Hedge funds pile into tech stocks as bullish bets surge to post-crisis highs – CNBC
EU warns France and Spain on deficits, clears Portugal – fr24
Fed Should Like That Fiscal Stimulus is on Shaky Ground – Bloomberg
If you bought $100 of bitcoin 7 years ago, you’d be sitting on $72.9 million now – cnbc
Merkel Says `Too-Weak’ Euro Partly to Blame for German Surplus – Bloomberg
Greece’s Creditors Seek to Break Impasse on Stalled Review – Bloomberg
Indonesia Bonds Rise as S&P Upgrade Boosts Prospects for Inflows – Bloomberg
Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More – Zerohedge

S&P Downgrades Most Australian Lenders on Housing Concerns – Bloomberg
Five Things You Need to Know to Start Your Day – Bloomberg
A ‘paradigm shift’ is taking place in financial technology – businessinsider
Bill Introduced Allowing Cancellation Of Over $1 Trillion In Student Debt Through Bankruptcy – Zerohedge
Japanese Exports Rise for Fifth Consecutive Month in April – Bloomberg

US crude production is ramping up and it’s creating a headache for other producers – businessinsider
China’s Growth Engines Are Slowly Converging – Bloomberg
Australian household finances are getting squeezed, which is bad news for the economy – businessinsider
Greek Creditors Seek to Break Impasse on Stalled Bailout Review – Bloomberg

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