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We were skeptical when two days ago we reported that Japan was contemplating investing some of the hundreds of billions of pension savings held in its massive, $1+ trillion GPIF pension fund into US infrastructure projects, a story which the GPIF itself quickly denied. However, we were all too clear about the motives behind this proposal trial ballooned by Prime Minister Abe: appease Trump in any way possible during next week's, Feb. 10 meeting
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The Trump administration just fired the first shot in the US-European currency, and thus trade, wars when Trump's top trade advisor Peter Navarro accused Germany of using a “grossly undervalued” euro to "exploit the US and its EU partners", the FT reported noting the comments are "likely to trigger alarm in Europe’s largest economy." News of the statement sent the EURUSD spiking in the moments after its release.
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Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos' elites discussed why the world needs to "get rid of currency," the European Commission has introduced a proposal enforcing "restrictions on payments in cash."


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Two days after Trump signed an executive order meant to streamline the approval of the mothballed Keystone XL pipeline, which the company said would add more than $3 billion to US GDP and create thousands of construction jobs, moments ago TransCanada announced it has submitted a Presidential Permit application to the U.S. Department of State for approval of the Keystone XL Pipeline, which as Trump vowed, will likely be approved by a fast-tracked
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The Dow Jones Industrial Average just powered through the 20000 level for the first time ever, setting an all-time intraday high three trading days after the inauguration of Donald Trump. Moments after the open, the Dow shot up to 20033.77.

The new record comes as stocks have been on the rise for much of the past three months, finding fresh legs since Election Day to add to one of the longest bull-market runs in U.S. history. The Dow industri
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The Keystone XL pipeline is back on — maybe. President Donald Trump signed an executive order Tuesday potentially reviving the Canada-to-Texas pipeline, the subject of a multi-year saga that cast a long shadow over Canada-U.S. relations.

Trump signed a series of executive orders related to infrastructure and construction, the highest profile of which involved the pipeline project that if completed would carry more than one-fifth of the oil Ca
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The trade agreement between the European Union and Canada has cleared a big hurdle in the EU's parliament when the trade committee backed the deal and prepared it for full ratification next month.

After the deal was signed in October, it still needs ratification by the EU's Parliament. The trade committee backed it by a 25-15 margin with one abstention on Tuesday. The full legislature will vote on it next month.
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For months we've warned that declining used car prices could spell disaster for subprime auto securitizations (see "Slumping Used Car Prices Spell Disaster For Subprime Auto Securitizations"). While it's always difficult to predict the exact timing of when bubbles will burst, a combination of record-high lease returns in 2017 and 2018, combined with rising interest rates could imply that the auto bubble is on the precipice.

As Bloomberg rece
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U.S. President Donald Trump says he will soon be meeting with the prime ministers of Canada and the United Kingdom.

“We have set up meetings with the prime minister of the United Kingdom and Prime Minister May will be coming over the United States shortly. We’re also meeting with the prime minister of Canada,” Trump said at a swearing-in ceremony for senior staff Sunday.

“And we will be meeting with the president of Mexico, who I know, and
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One can probably put the time of death of the Trumpflation rally as 11:47pm on Monday night. That's when the WSJ published the latest excerpt of its Friday interview with Donald Trump, in which the president-elect himself said the dollar was already “too strong”and blamed this is in part due to China holding down its currency and added that “our companies can’t compete with them now because our currency is too strong. And it’s killing us.”
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Britain's high commissioner is open to signing a free trade deal with Canada now that the United Kingdom has opted out of the European Union.

Howard Drake said Britain will go it alone on trade agreements after the Brexit vote, adding the U.K. will not cease to be a trading nation. "We're an island. We'll be strongly pro-free trade outside the European Union," he said in an interview with Chris Hall on CBC Radio's The House.

"We'll be look
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Are these guys running scared of Trump?
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Sometime you gotta use a carrot, and sometimes a stick.
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NDP anti-free traders get their wish.
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Good news for Rachel Notley is bad news for the rest of us.