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The Kremlin said in a statement that al-Maliki informed Putin on Friday about his government’s steps to combat the “terrorist groups in the north of the country.” It added that the insurgency threatens security of the entire region. Putin confirmed Russia’s “full support for the Iraqi government’s action to quickly free the territory of the republic from terrorists,” the Kremlin said, adding that Putin and al-Maliki also discussed bilateral cooperation. Putin’s expression of support for the embattled Iraqi prime minister comes as al-Maliki’s rivals have mounted a campaign to force him out of office, with some angling for support from Western backers and regional heavyweights.

Russia Reignites The Proxy War: Putin Offers "Complete Support" To Iraq Prime Minister Scorned By Obama | ZeroHedge HomePremiumContributorsChannelsAllBailoutCommoditiesCOVID-19CryptoEconomicsEnergyGeopoliticalMarketsMedicalMilitaryPersonal-FinancePoliticalTechnologyWeatherPartnersThe Market EarSpotGammaMerchAboutMoreRSSDonateAdvertiseLOGINLoginUsernamePasswordLoginCreate new accountReset your passwordThis site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.ZeroHedge ReadsAlt-MarketAntiWar.comBitcoin MagazineBombthrowerBULLIONSTARCapitalist ExploitsChristophe BarraudDollar CollapseDr. Housing BubbleFinancial RevolutionistForexLiveGains Pains & CapitalGefiraGMG ResearchGold CoreImplode-ExplodeInsider PaperLiberty BlitzkriegMax KeiserMises InstituteMish TalkNewsquawkOf Two MindsOil PriceOpen The BooksPeter SchiffQTR’s Fringe FinanceSafehavenSlope of HopeSpotGammaTF Metals ReportThe Automatic EarthThe Burning PlatformThe Economic PopulistThe Libertarian InstituteThe SakerThemis TradingValue WalkVisual Combat Banzai7Wolf StreetExpandRussia Reignites The Proxy War: Putin Offers "Complete Support" To Iraq Prime Minister Scorned By Obamaby Tyler DurdenFriday, Jun 20, 2014 - 05:50 PMThis article is archived.Upgrade to premium to access all of the ZeroHedge archive.Already a member? Sign in.Introducing ZeroHedge Premium. Why Premium?PREMIUMJack's Lack Of CensorshipONLY $25/MONTHBILLED ANNUALLY OR $30 MONTHLYAll BASIC features, plus:- Ad-free environment- Unmoderated comment section- Premium commentary features including user tiering and comment tracking (coming soon)- Access to private, invitation-only Zerohedge twitter account- Exclusive access to The Market Ear content- Access to Newsquawk breaking news and market squawks, and discount for real-time commentary- Early glimpse at all our postsSELECTPROFESSIONALProject MayhemONLY $85/MONTHBILLED ANNUALLY OR $100 MONTHLYAll PREMIUM features, plus:- Access to our constantly updated research database via a private dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)- Notifications for new posts, breaking news and comment replies (coming soon)- Discord-based chat and commentary rooms (coming soon)Contact us about Enterprise Solutions priced at $5,000/moSELECTTrending on ZerohedgeJim Jordan Demands Answers After Biden Admin Caught Flagging "MAGA" And "Trump" To Track Political Opponents' Financial Transactions"We, The Powers That Be Are Done Playing Grab-Ass. STFU, Follow Orders, Or Else..."Journalist Uncovers "Shadowy Network" Of NGOs Facilitating US Border InvasionWant more of the news you won't get anywhere else?Sign up now and get a curated daily recap of the most popular and important stories delivered right to your inbox.Crude dynamics, crypto conundrums and static SPXSPX - range remains intact The 4720/4840 range remains in place. Not getting overly excited until we break out, either way... Source: Refinitiv   Big spender Friday's (1/12) VIX buyer of: 250k 2/14 17 calls at $0.68 (~$17mm notional) was "the largest outright block ever to print in VIX options". (Spotgamma/CBOE) Oil - will it? Will it close above the 50 day for the first time since mid October. Oil getting rather tight inside that "dynamic" formation. Source: Refinitiv   Oil - will they? CTA upside convexity looks "dynamic". Source: GS   The Red Sea Ruckus and Retail supply chains "Several attacks by Houthi rebels from Yemen have led to an 85% reduction in vessels transiting the Red Sea and Suez Canal, increasing travel times by ~2 weeks. While this has the largest immediate impact on Asia-Europe trade, Europe and the Indian subcontinent, and Asia-US East Coast are also impacted. The bottom line is that shipping is getting more costly - 2x in aggregate and 3x on Asia-Europe vs early December. We still view the fundamental problems of oversupply as unsolved, and the impact for retailers will depend on four factors: EU sales, Asia production, Sea freight routes, and Short Lead Time categories. A continued disruption will create bigger backlogs and limit empty container availability in Asia, and we believe global brands like Nike, Adidas, Capri that have Europe exposure will be more impacted. Brands that ship via Suez routes like Lululemon are also at risks" (Bernstein) Source: Bernstein   Not remotely comparable 1. "...We think inflation fears related to Red Sea trade disruption are over-done 2. 2022 saw natural gas prices sky-rocket, global supply chains break down, and very high goods demand 3. The Red Sea problems are not remotely comparable, and financial markets have rightly not over-reacted..." (Barclays) BTC - we haven't seen this in a while BTC has not closed this much below the 50 day moving average since "forever". Source: Refinitiv   BTC and the dollar The connection remains in place. BTC vs DXY inverted. Source: Refinitiv   BTC and rates BTC and the 10 year inverted moving in tandem. Source: Refinitiv an hour ago at 12:44Rates refusing, tech trying, while VIX and crap stay nervousTech leaving rates behind The short term gap between NASDAQ and the 10 year (inv) is getting rather wide. Is leaving the rates narrative even possible? Source: Refinitiv   That was quick US 10 year approaching the 50 day moving average. 4.20% ish is the first resistance to watch. Source: Refinitiv   Low quality crap MEME and most shorted can't catch a bid, despite the latest crash. The gap vs NASDAQ is getting very wide. Source: Refinitiv   Russell bear The crowd chased small caps in size late last year, but the Russell is back to doing what it does best: lagging tech. Russell vs NASDAQ ratio continues puking. Source: Refinitiv   VIX not "impressed" The bid in VIX has resulted in the gap between VIX and SPX widening further. Source: Refinitiv   VIX dealers are short calls In size...0%tile. Source: Nomura   VIX short gamma Above 15 things get "destabilized" as dealers enter rather "juicy" short gamma. Source: Nomura   Market and the elections BCA sums it up: "The market will eventually be forced to react to rising odds of a sharp US national policy reversal. Investors should overweight government bonds and defensive equity sectors." Source: BCA 4 hours ago at 10:39Surging rates and stuck equities4.2% US 10 year broke the negative trend line a while ago. We are now well above the 21 day that has reversed and is sloping positively. The 50 day comes in around 4.2%, the first resistance to watch. Source: Refinitiv   Lower for longer is very groupthink here BofA writes: "FMS investors have never been as bullish on short-term rates as in Jan'24 (data going back to Apr'01) …a record of 91% expect short term rates to be lower in the next 12 months, up from 87% in Dec'23." Source: BofA   The big long Non dealers US equity positioning at very elevated levels. Source: GS   SPX technicals SPX remains stuck inside the 4720/4840 range. Chasing break out moves, both ways, has been a costly strategy so far. Note the negative RSI divergence going even more extreme. Source: Refinitiv   Be boring Low volatility beating high beta YTD. Source: Refinitiv   Will "weaks" lead us even lower? The crash in MEME and most shorted seems to be spilling over... Source: Refinitiv   2 more weeks to go before buybacks are back in full force There are 2 weeks left of the buyback blackout window. Companies will start to exit blackout as they report earnings. Source: Goldman   Lowest since 1976 Jim Reid: "So a big change for China and for the world." Chart shows China Nominal GDP growth as the lowest since 1976 (excluding the Covid year of 2020). Source: DB   China credit impulse Nothing seems to be able to get China going... Source: TS Lombard   New tech bear superlatives needed The crash in Chinese tech has the HSTECH looking like a small cap stock having profit warned. The index is down 5% overnight, and RSI at lowest levels since the epic crash during the autumn of 2022. Source: Refinitiv   See TME's daily newsletter email above. 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Russia Reignites The Proxy War: Putin Offers “Complete Support” To Iraq Prime Minister Scorned By Obama