THURSDAY 6/29/17; KOSPI 2,400; Euro Prints One-Year High Above 1.14; Pound Tags 1.30; Banks Rally After US Stress Tests; Yield Curves Steepen; US 2-10 Spread Above 91 Bips; CAG; STZ; MKC; RAD; WBA; Q1 GDP (Gross Domestic Product); European and US Stocks Collapse; MU; NKE

Asia and Aussie indexes are trading higher out of the gate following the lead from the United States session. The global stock markets are cascading higher and joyous that central bankers keep providing easy money conditions. The ECB said that President Draghi’s comments on Tuesday were misinterpreted by the market. The US futures and stock market rallied directly after this news that the ECB wants market participants to view Draghi’s statement as more dovish than hawkish. The central bankers are the market.

[Purchase the 2017-06 chronology to enjoy June's economic and market real-time history including new all-time highs in the stock market.]

President Trump and Russian President Putin plan a short meeting next week at the G20 meeting in Hamburg. It will be the first time the two leaders meet face-to-face.