Juncker: End internal borders, scrap national vetoes on tax & foreign policy

 

Jean Claude Junker when making his ‘State of the Union’ address to the European Parliament has called for internal borders to be “removed” and demanded national vetoes on foreign and tax policy to be scrapped, giving the European Commission more central powers.

He told the EU Parliament: “Where borders have been reinstated, they must be removed. Failure to do so would amount to an unacceptable step back for the Europe of today and tomorrow. Continue reading

Derivatives Trading Legend: “As Little As A 4% Decline In One Day Could Start A Critical Crash”

After building out Merrill’s mortgage trading floor basically from scratch, then moving to the buyside at Pimco, several weeks ago Harley Bassman, more familiar to many traders as the “Convexity Maven” – a legend in the realm of derivatives (he helped design the MOVE Index, better known as the VIX for government bonds) – decided to retire (roughly one year after his shocking suggestion that the Fed should devalue the dollar by buying gold).

But that did not mean he would stop writing, and just a few days after exiting the front door at 650 Newport Center Drive in Newport Beach for the last time, Bassman wrote his first full article as a “free man”, in which the topic was, not surprisingly, derivatives and specifically the recent collapse in vol – and convexity – what prompted it, but most importantly and what everyone wants to know: what threshold would be sufficient to finally launch the next “critical mass” market move (i.e. crash) and, just as importantly, what could catalyze it. Continue reading

Donald Trump will lead the US in the right direction. We should take note

Donald Trump will demand European and Asian alliance partners start taking more responsibility for their own security ...

Donald Trump will demand European and Asian alliance partners start taking more responsibility for their own security and paying their way. Photo: Chris O’Meara

 

 

Many working-class Americans, who had traditionally put their faith in the Democratic Party to deliver for them, voted Republican for the first time. In contrast, the Democrats, filled with the false confidence of urban progressives, condescended to call the working-class voter base uneducated and deplorable.

So, what did Americans vote for? How will Donald Trump “Make American Great Again”? Continue reading