Monday, June 05, 2017

Today's Headlines

  • Gulf Spat Threatens to Put Brakes on Qatar's $335 Billion Empire. (video) The windfall from being the world’s largest exporter of liquefied natural gas has allowed Qatar to amass about $335 billion of investments around the world through its sovereign wealth fund. Now, a diplomatic spat with neighboring countries threatens to hamper the Qatar Investment Authority’s ability to continue making headline-grabbing global deals. Saudi Arabia and three other Arab countries cut off most diplomatic and economic tiesto Qatar Monday in an unprecedented move designed to punish one of the region’s financial superpowers for its ties with Iran and Islamist groups.
  • European Stocks Decline as Qatar Crisis Jolts Energy Sector. (video) European stocks fell, with shares in energy companies extending Friday’s loss after Saudi Arabia and three other Arab countries cut off most diplomatic and economic ties to gas-rich Qatar. The Stoxx Europe 600 Index slid 0.1 percent at the close, halting a two-session gain. Markets are closed for a public holiday in a number of European countries including Germany, Switzerland, Norway, Denmark, Austria, Greece and Ireland.
  • Junk Bonds Couldn't Care Less About Stock Market's Alarm Bells. (video) Stop talking about the Trump trade dying. Cease the chatter about FAANG stocks booming. This year’s all about balance sheet risk. Amid rising interest rates and growing corporate leverage, investors have cast aside debt-riddled companies in favor of cash-rich businesses, which include the FAANG stocks -- Facebook Inc., Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc, according to an analysis by Societe Generale SA. 
Wall Street Journal:
Zero Hedge: 

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