Et Tu, Indonesia!

Futures Jump After Overnight Rollercoaster Session As Oil Unexpectedly Tumbles, Yen Soars Futures erase an overnight slide, and have resumed their ascent trading near all time highs, despite a hawkish Fed statement but stronger Mag7 earnings. The hawkish Fed followed by a less hawkish press conference, plus the news that Powell is staying on seemingly removing a cut, actually have bond yields lower pre-mkt by 2-4bp as the Dollar weakens on what appears to be BOJ intervention which has sent the USDJPY plunging most since 2022. As of 8:00am ET,...

German Coalition Turmoil Deepens As SPD Co-Leader Bas Quits, Blames CDU "Public Attacks" Just when Friedrich Merz gathered his party's top brass to "regroup," the government lost another load-bearing wall. On Monday, labor minister Bärbel Bas, who was also co-chair of the junior coalition partner SPD, abruptly resigned from both posts. The 58-year-old said she needs time to grieve after the sudden death of her stepdaughter, but she also pointed a finger at "public attacks," including from within the ranks of Merz's own CDU/CSU bloc, which she said continued throughout her...

"Now Taking Reservations For 2031 Delivery": GE Vernova Gas Turbine Backlog Climbs To 116 GW By Brian Martucci of UtilityDive GE Vernova posted double-digit revenue and order growth in the second quarter, driven once again by continued strong performance in its Power and Electrification business segments. Those segments, respectively, produce and service gas, hydro and nuclear power generation equipment; and commercial electrical equipment such as transformers and switchgears. GE Vernova’s beleaguered third segment, Wind, saw orders fall sharply amid persistent softness in U.S. demand for onshore wind turbines and blades. “We remain focused...