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And Yet it Moves: Understanding Why Italy's Threat is Exaggerated

June 27, 2017
Toward the end of 2015, Portugal bailed in some senior creditors in addressing a failed bank.  Many observers were aghast.  This was thought to be horrific and uncivilized by some of the very same people who are critical of the EU and Italy's decision not to bail in senior creditors in the two failed regional banks in Italy.    
They were wrong…
And Yet it Moves: Understanding Why Italy's Threat is Exaggerated And Yet it Moves:  Understanding Why Italy's Threat is Exaggerated Reviewed by Marc Chandler on June 27, 2017 Rating: 5
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Euro Surges on Draghi, While Yuan Rises on Suspected PBOC Action

June 27, 2017
ECB President Draghi told the audience at the annual ECB Forum transitory factors were holding back inflation. This was quickly understood to be bullish for the euro, and it rallied from near the session lows below $1.12 to around $1.1260, a nine-day high.   
To be sure, Draghi still argued that a "considerable degree of monetary accommodation…
Euro Surges on Draghi, While Yuan Rises on Suspected PBOC Action Euro Surges on Draghi, While Yuan Rises on Suspected PBOC Action Reviewed by Marc Chandler on June 27, 2017 Rating: 5
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US Steel Investigation: The Challenge to World Trade

June 26, 2017
US Commerce Secretary Ross promised to conclude the special investigation into US steel imports in the name of US national security by the end of the month.  The outcome of the investigation is largely a foregone conclusion.  Even before the investigation began, Ross said he would need less than a third of the allowable time.
The real issue is how …
US Steel Investigation: The Challenge to World Trade US Steel Investigation:  The Challenge to World Trade Reviewed by Marc Chandler on June 26, 2017 Rating: 5
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