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Lapid’s threats against Russia ‘not helpful’ amid Jewish Agency row

Written on . Posted in PT Middle East.

Russia-Israel tensions have intensified in recent days as Moscow appears primed to force the “dissolution” of Jewish Agency for Israel operations in the country. An Israeli delegation prepared to head to Moscow with a view to resolving the issue is waiting on Russian visas, even as Israeli Prime Minister Yair Lapid has instructed his government to prepare a series of countermeasures should Russia follow through on its threat.

“The Jewish community in Russia is deeply connected with Israel,” said Lapid in a July 21 meeting with representatives from Israel’s Foreign Ministry and National Security Council. “We will continue to act through diplomatic channels so that the Jewish Agency’s important activity will not cease.”

According to a report by the Russian news agency Interfax, Moscow’s Basmanny District Court received a request from the Russian Justice Ministry to shutter the Jewish Agency. The court was slated to hear the case on July 28.

While Interfax provided no explanation for the move, the Associated Press reported that the Justice Ministry accused the agency of violating privacy laws by collecting the personal information of people interested in immigrating to Israel.

 On the mountains of Israel you will fall, you and all your troops and the nations with you. I will give you as food to all kinds of carrion birds and to the wild animals.” Ezekiel 39:4 NIV

I will even miss my enemies, says retired general Amos Gilad

Maj. Gen. (res.) Amos Gilad, former head of the Israeli Defense Ministry’s Political Military Bureau, told JNS that Jerusalem should be cautious and avoid issuing harsh statements against Russia that could inflame the situation. For example, Gilad described as “not helpful” Lapid’s warning on Sunday that the closure of the Jewish Agency in Russia could have a “serious impact” on bilateral relations with Moscow.

Read More @ JNS HERE

Putin

Fed Watch: Here’s What The Fed Will Do Today

Written on . Posted in PT Global Economy.

SUMMARY: The Federal Reserve is widely expected to hike rates by 75bps on Wednesday, taking the target range for the Funds rate to 2.25-2.50%, a level considered neutral. There is no Summary of Economic Projections at this meeting thus attention will turn to any guidance the FOMC provides on future tightening increments. Current expectations, based on the current outlook, are for a 50bp move for September, before moving to 25bp moves in November and December to see a year-end rate of 3.25-3.50%, in line with market pricing. Nonetheless, the Fed will likely reiterate that any future rate decisions will depend upon their assessment of the economic outlook, particularly inflation. 

The latest June CPI report was hotter than expected which saw markets price in another 75bp move in July before accelerating to start pricing in over a 70% probability of a 100bp hike instead. However, pricing has now pared back in wake of several Fed speakers, including hawks Bullard and Waller, vocally supporting a 75bp hike in July while the latest UoM consumer inflation expectations also cooled for both the 1yr and 5yr horizons. Currently, markets only see a 10% chance of a 100bp move, as opposed to above 70% at the peak.

EXPECTATIONS/GUIDANCE: The Fed is expected to hike rates by 75bps to 2.25-2.50%, according to 98/102 economists surveyed by Reuters between July 14-20th, although the remaining four still expect a 100bp move. However, markets are in favor of a 75bp hike with only a 10% chance of a 100bp move on Wednesday. Looking ahead, the majority of those surveyed expect the Fed to hike by 50bps in September, before slowing further to 25bp hikes in November and December leaving the Fed funds rate at 3.25-3.50% in December.

Read More @ Zero Hedge HERE