Equity Risk Premium Has Vanished, And Stocks Aren't Cheap...

China Pledges Major US Coal Purchases But Falls Short On Rare Earth Crisis Resolution Barclays senior China economist Yingke Zhou poured cold water on the Trump-Xi state visit this past week, calling it "more signaling, less substance." Shortages of rare earths and critical materials in the West, caused by China's weaponization of its export channels in what can only be viewed as resource nationalism, have yet to be resolved. But there was some good news, though not on the critical materials front: Bloomberg reported early Saturday that China is planning to purchase...

EU Watchdog EBA Details Big Crypto Fines As Landmark Laws Bite Authored by Robert Lakin via CoinTelegraph.com, The European Banking Authority on Friday unveiled a sweeping framework to penalize cryptocurrency issuers that violate the European Union’s digital-asset laws, signaling a tougher enforcement stance as the trade bloc finalizes its historic regulatory architecture. The consultation paper published June 26 establishes a standardized playbook for hitting non-compliant issuers of what the EBA considers “significant” tokens with potentially multimillion-euro penalties. Under the proposal, the Paris-based watchdog will deploy a strict two-step process to determine fines, assessing the...

The White House will allow the waiver on Iranian oil sanctions to expire on Sunday. The US granted sanctions waivers for Russian, Iranian, and Venezuelan oil after starting a war against Iran in an effort to keep energy prices from spiking.  Two US officials speaking with Reuters said that the White House is not planning […]