Todays Markets

Bloomberg: Euro, EM Currencies Drop on Turkey Contagion Fear: Markets Wrap
The euro slumped with emerging-market currencies and stocks declined amid concern Turkey’s problems are spilling over. The Turkish lira hit a fresh record low amid a souring of diplomatic relations with the U.S. [more...]

Bloomberg: U.S. Oil Vanishing From Chinese Tariffs Reveals America's Clout
The removal of U.S. crude from goods targeted by Chinese tariffs is a sign that America has become too big to ignore in the oil market. Less than two months after threatening to impose levies on imports of U.S. crude, the world’s biggest oil buyer has now spared the commodity. [more...]

Bloomberg: Tesla Falls, Wiping Out Tweet-Fueled Rally in Just Two Days
It didn’t take long for the euphoria to fade. Two days after Elon Musk triggered a frantic rally with a tweet saying he was considering taking Tesla Inc. private, the stock erased all of those gains. [more...]

Bloomberg: On Devaluation Anniversary, Yuan Heads for Ninth Weekly Drop
Three years after China’s shock currency devaluation forced the nation into a months-long campaign to prevent a disorderly collapse, the yuan is set to extend its record weekly losing streak. [more...]

Bloomberg: August Has a History of Crushing Dreams for Stock-Market Bulls
August has a history of quashing investors’ illusions of a quiet summer. And there’s enough risk hanging around this month for it to happen again. The long list of concerns weighing on markets -- from trade wars to Brexit -- got longer in the past week with the political spat between Canada and Saudi Arabia, new U.S. sanctions planned for Russia and the rout in Turkish assets.  [more...]

Bloomberg: Oil Is Losing Its Grip Over the Currencies of Top Energy Producers
The future isn’t in oil -- at least for traders trying to predict moves in currencies of the bigger energy exporters. Crude has decoupled versus the currencies of Russia, Brazil and Canada, with internal market dynamics pushing them in different directions.  [more...]

Bloomberg: ECB Concerned About European Banks' Turkey Exposure, FT Reports
The European Central Bank has grown concerned about the exposure of some euro zone banks to Turkey following the lira’s plunge, the Financial Times reported. [more...]

Bloomberg: Markets in U.S. Are Defying the Tumult Convulsing Rest of World
The S&P 500 has been edging back toward its January peak, and the U.S. Treasury just auctioned a record amount of 10- and 30-year debt with relative ease. Looking at American markets, there’s little sign of the angst that’s been roiling emerging economies. [more...]

Bloomberg: One Chart on Crisis Anniversary Shows How Market Bulls Won Big
Eleven years later, bulls have had their revenge. On Aug. 9, 2007, BNP Paribas SA froze three funds exposed to U.S. subprime mortgages, signaling a series of calamitous events culminating in the collapse of the housing bubble, the bankruptcy of Lehman Brothers -- and the very seizure of the global financial system. [more...]

Reuters: Asian shares fall on dim trade outlook; dollar near 13-month peak
The U.S. dollar was near its highest levels in 13 months, while concerns over disputes with Washington pushed the Turkish lira to record lows and piled pressure on the Russian rouble. [more...]

Reuters: Dollar hits 13-month peak, yen also bullish as appetite for risk deteriorates
The dollar rose to a 13-month high against a basket of currencies on Friday and the yen also made big strides, with investor appetite for risk dropping amid escalating global trade tensions and diplomatic wrangling. [more...]

CNBC: Russia likens US sanctions to economic war — and threatens response 'by other means'
Russia's Prime Minister Dmitry Medvedev reportedly warned the U.S. on Friday that sanctions it plans to impose against Moscow over the nerve-agent attack of a former spy living in Britain could be treated as a declaration of an economic war. [more...]

CNBC: All you need to know about the escalating diplomatic row between Saudi Arabia and Canada
Saudi Arabia and Canada are currently locked in a diplomatic spat over human rights, with both countries refusing to back down despite a breakdown in future trade deals, suspended passenger flights and a flurry of other sanctions. [more...]