Economically the calendar is full this week. On top of that, the Trump-Kim summit begins on June 12th, 2018. June 13th, the FOMC will announce its rate decision.
Last week the Dowm played catch-up to the SP500 and the NASDAQ indexes, with a 2.69% gain. Volitility is back down to its long term range at 12.18, down 10.5% this past week. The SP500 had about a 1.6% range last week.
Beijing, Washington, Do We Have a Deal? China appears to be in wait-and-see mode ever since U.S. Commerce Secretary Wilbur Ross announced a deal that would resuscitate Chinese telecom firm ZTE.
A Test of Checks and Balances. The ZTE compromise, a rising threat to NAFTA (the White House has threatened again to break the negotiation back down to bilateral deals) and the extraordinary use of tariffs on national security grounds are creating a flurry of proposals in Congress to reclaim authority from the executive branch on trade.
A Key Brexit Vote for Parliament. While the British Cabinet is still squabbling over what form of Brexit it wants, Parliament will have a chance to have its say on the issue.
Energy and Football. The World Cup will kick off with a high-powered geopolitical match-up when Saudi Crown Prince Mohammed bin Salman joins Russian President Vladimir Putin to watch the opening game in a June 14-15 visit.
How Far Will Rome Go For Russia? EU sanctions against Russia over the conflict in eastern Ukraine expire July 31 and an EU debate will take place in late June.
A Truce Designed to Divide. Kabul is trying a novel tactic in its ongoing war against Asia’s longest-running major insurgency.
Last Weeks Numbers
Review Last weeks numbers here.
Strongest over the last three months.