murchr wrote:hisah wrote:alutacontinua wrote:So much going on today...
Firstly the announcement of a snap UK election slated for June 8th which had the GBP spike to a 4 month high while the FTSE-100 down 2.5% (biggest drop since the Brexit erasing all of the 2017 gains)
https://www.nytimes.com/...y-general-election.html
Next was the offloading of 22,000 contracts on Gold
http://www.zerohedge.com...3-billion-notional-sale
How an order (notional amount of $3B) was filled is a whole other matter all together...the almost instantaneous recovery is also something else.
Lastly is the debt ceiling for the US (we have 10 days until a shutdown) and the French election at the end of the month!!!
Volatility is about to strike! Snap election U-turn. She had to seek the pple's mandate.
Some eye popping developments no doubt. 2017 appears to be the antithesis of 2016 from a politicos outlook. Will it last?
The establishment/mainstreamers were taken to the cleaners in ruthless fashion in 2016 globally. It would appear they are intent on making a comeback after smelling blood in the first major election of 2017 in the Netherlands.
After winning on anti-elite platform and promising an isolationist US leadership, Trump has now taken on a pro-war/global stance. He failed in his quest to repeal Obama care and those tax cuts or rather his whole agenda on which his mandate was premised on are looking like a tall order without compromises Whether he is toying with swamp or the swamp has swallowed him whole remains to be seen.
Following the brexit vote, the establishment has not for a second abandoned its soft brexit agenda, this snap election offers an opportunity to achieve it.
The litmus test is definitely the French elections. If the second round turns out to be a contest between the far left and the far right, the elite/establishment will be caught in a proverbial no man's land aka a lose-lose scenario where they will be reduced to backing the lesser of the two evils. That will in all likelihood set the tone for the remaining elections including Britain and Germany.
There is a chance that the Italians will also hold elections meaning that the big four EU economies will all go to the ballot this year. Last stand for the mainstreamers I suspect, brace for impact.
The main purpose of the stock market is to make fools of as many people as possible.