Todays Markets

Bloomberg: Major Traders Are Talking About $100 Oil Again
Major oil trading houses are predicting the return of $100 crude for the first time since 2014 as OPEC and its allies struggle to compensate for U.S. sanctions on Iran’s exports. [more...]

Bloomberg: Merkel Warns Against Harsh Brexit Stance as Macron Doubles Down
German Chancellor Angela Merkel on Monday warned European Union leaders against taking an excessively harsh line with the U.K. over Brexit -- but French President Emmanuel Macron turned up the heat. [more...]

Bloomberg: Stocks Fall on Politics and Trade Risks; Oil Gains: Markets Wrap
Stocks slipped on growing concern about the outlook for global trade and U.S. politics. Oil rallied toward a four-year high. Industrial shares led the S&P 500 Index lower after China warned it won’t meet with American officials unless they stop threatening to expand tariffs. [more...]

Bloomberg: Trade War Reality Sets In as U.S and China Stick to Their Guns
The world’s two biggest economies are digging in for what could be a long and bruising trade war, testing the resilience of the strongest global upswing in years. [more...]

Bloomberg: Instagram Founders Exit Facebook as Zuckerberg Involvement Grows
The founders of Instagram are leaving Facebook Inc. after growing tensions with Chief Executive Officer Mark Zuckerberg over the direction of the photo-sharing app, people familiar with the matter said. [more...]

Bloomberg: BP Says Oil Spike May Prove Fleeting on U.S.-China Tensions
Oil bulls cheered by the prospect of $100 oil beware. A rally in prices may be short-lived. That’s according to Janet Kong, who heads energy giant BP Plc’s trading business in Asia. Any spike on the loss of Iranian supply due to U.S. sanctions probably won’t be sustainable in the long run, she said. [more...]

Bloomberg: Dollar Could Falter on Trade Tensions, Buoying Emerging Markets
The greenback may be poised to return to the doldrums seen early this year, according to Wells Fargo Investment Institute. Despite a boost since mid-April from an outperforming U.S. economy and Federal Reserve rate hikes, the dollar may start to falter in 2019 amid political risk and trade tensions. [more...]

Bloomberg: ECB's Draghi Sees Vigorous Pickup in Core Inflation; Euro Jumps
Mario Draghi said he sees a “relatively vigorous” pickup in underlying euro-area inflation, signaling that the European Central Bank is well on track to raise interest rates late next year. [more...]

Reuters: China says hard to proceed on trade with U.S. putting 'knife to its neck'
A senior Chinese official said on Tuesday that it is difficult to proceed with trade talks with the United States while Washington is putting “a knife to China’s neck”, a day after both sides heaped fresh tariffs on each other’s goods. [more...]

Reuters: Stocks struggle as U.S.-China trade row revives growth concerns; oil elevated
Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth. [more...]

CNBC: Brexit is going very wrong, but a snap election is the last thing the British public needs
Theresa May's Brexit negotiations with the European Union (EU) are going very, very wrong and there is speculation that the U.K. could be heading for a snap election — cue eyerolls and yawns nationwide.  [more...]

CNBC: China reveals its new party line: We're trying to save the world from the US
China hit out against the U.S. in a 71-page paper, accusing President Donald Trump's administration of "trade bullyism practices" that have become "the greatest source of uncertainty and risk for the recovery of the global economy.".  [more...]