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Wagner leader Yevgeny Prigozhin said he gave the order to return convoys headed to Moscow back to their bases in order to avoid bloodshed.Belarus President Lukashenko, acting with Putin, said he spoke to Prigozhin and put an agreement on the table that would guarantee...

A couple of items re China and the faltering economic bounce. Tourism data cited on China's state TV(CCTV) reported travel during the June 22-24 Dragon Boat Festival holiday was up on 2022 but down 22.8% from the pre-COVID levels of 2019.the number of railway trips...

A civil war has broken out in Russia with Wagner Group leader Yevgeny Prigozhin leading a convoy towards Moscow and loyal parts of the Russian military attacking it.Reports are scattered and unreliable but helicopters are engaging the column and images suggest three...

There was a very late bid in the oil market today that may have materialized as major events started to unfold in Russia.In a video last week, Wagner founder Yevgeny Prigozhin appeared to say that his 25,000 strong militia was heading to Moscow to oust the leadership...

Markets:WTI crude oil down 22-cents to $69.29US 10-year yields down 6.4 bps to 3.73%Gold up $6 to $1919Bitcoin up $2.4% to $30,850S&P 500 down 0.8%USD leads, AUD lagsThe US dollar was in demand once again, despite falling Treasury yields. Some of that might have...

Nasdaq weekly chartI would attribute a big chunk of this week's equity selling to quarter-end rebalancing flows and/or the front-running of those flows. There were plenty of dip buyers in Nasdaq stocks, particularly in the magnificent seven mega stocks that have been...

EURUSD weekly chart MUFG maintains a long EUR/USD position to its TOTW portfolio (spot ref: 1.0920), with a target at 1.1320, and a stop at 1.0620. MUFG also maintains a long AUD/NZD position targeting a move towards 1.1200, with a stop at 1.0700. "We are maintaining...

WTI crude dailyWorries about the global economy continue to weigh on oil. Crude fell as low as $67.35 today in a test of the post-Saudi cut lows but the bulls made a stand it rebounded to close only modestly lower.Still, it was the second day of selling third weekly...

Oil rigs -6 at 546Nat Gas unchanged at 130 Total rigs -5 at 682WTI crude oil is trading down -$0.70 or -0.99% at $68.84. The low for the day extended all the way down to $67.35. At the lows for the week, the price tested its 200-week moving average at $67.38 (see...

Monday: It was a US holiday, so it was a pretty dull trading day. We had again some ECB speakers talking about a rate hike in July and another one in September, if the data suggested so. ECBECB’s Kazimir (hawk) confirmed the support for a rate hike in July while...

Closing changes for the day:Stoxx 600 -0.3%German DAX -1.0%FTSE 100 -0.6%French CAC -0.6%Italy MIB -0.8%Spain IBEX -1.0%For the week:Stoxx 600 -2.9%German DAX -3.3%FTSE 100 -2.4%Italy MIB -2.4%Spain IBEX -2.4%It was a rough one for European stocks this week but so far...