TUESDAY 6/20/17; BOE Governor Carney Speaks; Fed Speak Including Vice Chairman Fischer; Oil Collapses -3%; WTIC Oil Prints 42-Handle Now in Bear Market; Brent Oil 45-Handle; LEN; US 5-30 Yield Spread Lowest in a Decade; FDX; ADBE; LZB; RHT

Nikkei Index futures point to a +0.5% open for the NIKK. Australia ASX 200 futures are also up marginally so the cascading global rally continues looping around the world. Moody’s downgraded the four large Australian banks Commonwealth Bank, Westpac, NAB (National Australian Bank) and ANZ Banking Group, yesterday from Aa3 to Aa2. Eight other smaller Aussie banks were also downgraded so this may create a drag on the ASX 200.

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In the Georgia state election, the republican Karen Handel wins the contest. The republicans are proud as peacocks saying the election is a referendum on President Trump and Americans are happy with his performance so far. The democrats shrink back to their corner disappointed in the loss. The liberals and progressives had hoped that a democrat win would set up the mid-term elections in their favor but instead the republicans receive bragging rights.