It is the 22nd of September 2018

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Obama Halts Some Arms Sales To Saudi Arabia, Following Alleged "War Crimes" In Yemen

Whether it is retaliation for dumping Treasuries, blackmail to keep to OPEC production quotas, or - more likely - being implicated in war crimes for supporting a Saudi-led air campaign in Yemen that has killed thousands of civilians, President Obama has decided that after shipping billions in weapons to Saudi Arabia, Reuters reports it will halt a planned arms sale to The Kingdom.

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Saudis, China Dump Treasuries; Foreign Central Banks Liquidate A Record $346 Billion In US Paper

One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $27.5 billion in one week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion, the lowest since 2012. One month later, we refresh this chart and find that in the latest weekly update, foreign central banks continued their relentless liquidation of US paper held in the Fed's custody account, which tumbled by another $22.3 billion in the past week, pushing the total amount of custodial paper to $2.805 trillion, another fresh post-2012 low.

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The Story Changes: The Pentagon Is No Longer Sure Yemen Fired Missiles At A US Ship

Last Thursday, after two consecutive missile attacks on the US Navy ship USS Mason, which allegedly were launched by Houthi rebel forces in Yemen, the US entered its latest military engagement in the middle east, when the USS Nitze launched several Tomahawk cruise missiles aimed at radar installations located by the Bab el-Mandab straight, and which enabled the launch of at least three missiles against the U.S. ship.

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Saudi Bank Stocks Tumble As Bailout Fails To Stem Liquidity Stress

Saudi bank stocks' dead-cat-bounce - following the central bank's cash injection 'bailout - is dying once again as Bloomberg reports funding pressures remain in The Kingdom's financial system.

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