Sunday, June 18, 2017

SUNDAY 6/18/17; Father’s Day; France Election

Today is Father’s Day that honors dad’s and celebrates fatherhood and the adult male influence in the family.

Portugal is hit with rampant wild fires as high temperatures and drought plague the land. 62 people are dead and each time a new headline is typed the death count moves higher. Unfortunate Portuguese souls are trapped in their cars on roadways and incinerated by the quick-moving flames. Portugal declares a national three-day mourning period to honor the lost souls. The fires continue on the Iberian Peninsula (Portugal and Spain).

Polls are open for the second round of French legislative elections. President Macron and his Republic on the Move Party are expected to receive a majority in the assembly allowing the young leader to implement his agenda. Macron is very pro European. The turnout is noticeably less than last week’s election and the presidential election when Macron took power so the energy and enthusiasm for change in France remains debatable.

Euro 1.1194. Dollar/yen 110.88. Pound 1.2777. Canadian dollar 1.3209. WTIC oil 44.74. Brent oil 47.37. Natty gas 3.04. Gold 1257. Silver 16.66. Copper 2.56.

Treasury yields are; 2-year 1.315%, 5-year 1.74%, 10-year 2.15%, 30-year 2.775%. The 2-10 spread is 83 bips.

Boom. Bang. A terror attack occurs in a resort area near Bamako in southern Mali which is located in western Africa along the Niger River. News reports say al-Qaeda terrorists are responsible for the ongoing mayhem and murder. At least two people are killed. Western travelers cross Mali off the travel destination list.

France exit polls show that President Macron’s party will secure from 355 to 425 seats in parliament as expected.

Boom. Iran fires several ballistic miles from military bases on the western side of the nation targeting ISIS militants in Syria. Iran is supportive of Syria President Assad along with Russia. The US and Western coalition partners are in favor of removing Assad under President Obama’s feckless foreign policy. The Middle East skies are lit up with missiles flying overhead. The world becomes a more dangerous place each day.

US golfer Brooks Koepka wins the US Open golf tournament in Wisconsin, USA. Nike sponsors Koepka so the Nike swish logo on his golf hat and polo shirt is plastered across television and computer screens all weekend. NKE should trade happily tomorrow. US golfer Brian Harman and Japan’s Hideki Matsuyama finish second. Nike also sponsors England’s Fleetwood that finished fourth. The executives are high-fiving each other in the Nike boardroom since the golf sponsorships are paying off.

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