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ADRU

BLDRS Europe 100 ADR Index Fund

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Summary

The investment seeks to provide investment results that correspond generally, before fees and expenses, to the price and yield performance of the Bank of New York Mellon Europe Select ADR Index. The fund typically invests substantially all of its assets in the securities that make up the index. The index is intended to give investors a benchmark for tracking the price and yield performance of European Depositary Receipts. the fund is non-diversified.

Market Cap: 17.1 Million

Primary Exchange: NASDAQ Global Market

Website: http://www.invescopowershares.com

Shares Outstanding: 700 Thousand

Float: 700 Thousand

Dividend: 0.47188 (1.93%)

Beta: 1.005269

Sector:

Industry:

Short Interest (Jan 15, 2013): 3.1 Thousand

Ethical Flags

Longest drawdown: 1209 trading days

From: 2014-06-19 To: 2019-06-12

Lowest Point:

Something Huge Just Happened In Europe

via: SeekingAlpha at 2019-06-10 12:38:45:000

Critics of modern monetary policy have been predicting that the day would come when a central bank would cut interest rates (or at least promise to), and the financial markets, instead of throwing a party, would fall. Then, it would be game over for easy money. This has yet to happen in the … read more...

Something Huge Just Happened In Europe

via: SeekingAlpha at 2019-06-10 12:38:45:000

Critics of modern monetary policy have been predicting that the day would come when a central bank would cut interest rates (or at least promise to), and the financial markets, instead of throwing a party, would fall. Then, it would be game over for easy money. This has yet to happen in the … read more...

Something Huge Just Happened In Europe

via: SeekingAlpha at 2019-06-10 12:38:45:000

Critics of modern monetary policy have been predicting that the day would come when a central bank would cut interest rates (or at least promise to), and the financial markets, instead of throwing a party, would fall. Then, it would be game over for easy money. This has yet to happen in the … read more...

The ECB Continues To Incentivize Reckless Behavior

via: SeekingAlpha at 2019-06-10 07:09:48:000

By Daniel Lacalle The European Central Bank continues to disproportionately inflate the debt bubble of the Eurozone, while the economic slowdown of the main European economies worsens. What was designed as a tool for governments to buy time in order to carry out structural reforms and redu… read more...

The ECB Continues To Incentivize Reckless Behavior

via: SeekingAlpha at 2019-06-10 07:09:48:000

By Daniel Lacalle The European Central Bank continues to disproportionately inflate the debt bubble of the Eurozone, while the economic slowdown of the main European economies worsens. What was designed as a tool for governments to buy time in order to carry out structural reforms and redu… read more...

The ECB Continues To Incentivize Reckless Behavior

via: SeekingAlpha at 2019-06-10 07:09:48:000

By Daniel Lacalle The European Central Bank continues to disproportionately inflate the debt bubble of the Eurozone, while the economic slowdown of the main European economies worsens. What was designed as a tool for governments to buy time in order to carry out structural reforms and redu… read more...

Cloudy Outlook For Eurozone Growth

via: SeekingAlpha at 2019-06-10 01:34:18:000

Posted by Reine Bitar, CFA, Portfolio Manager and Michael Booth, Associate Portfolio Manager The eurozone economy has experienced a sharp slowdown since the second half of 2018 in a reversal from the mini-boom enjoyed in 2017. This downturn has been most pronounced in the m… read more...

Cloudy Outlook For Eurozone Growth

via: SeekingAlpha at 2019-06-10 01:34:18:000

Posted by Reine Bitar, CFA, Portfolio Manager and Michael Booth, Associate Portfolio Manager The eurozone economy has experienced a sharp slowdown since the second half of 2018 in a reversal from the mini-boom enjoyed in 2017. This downturn has been most pronounced in the m… read more...

Cloudy Outlook For Eurozone Growth

via: SeekingAlpha at 2019-06-10 01:34:18:000

Posted by Reine Bitar, CFA, Portfolio Manager and Michael Booth, Associate Portfolio Manager The eurozone economy has experienced a sharp slowdown since the second half of 2018 in a reversal from the mini-boom enjoyed in 2017. This downturn has been most pronounced in the m… read more...

The Decline And Fall Of The Roman Empire

via: SeekingAlpha at 2019-06-09 20:47:21:000

Rome - the city of visible history, where the past of a whole hemisphere seems moving in funeral procession with strange ancestral images and trophies gathered from afar. - George Eliot The Romans and their empire was at its height in 117 CE. It was the most extensive political and… read more...

The Decline And Fall Of The Roman Empire

via: SeekingAlpha at 2019-06-09 20:47:21:000

Rome - the city of visible history, where the past of a whole hemisphere seems moving in funeral procession with strange ancestral images and trophies gathered from afar. - George Eliot The Romans and their empire was at its height in 117 CE. It was the most extensive political and… read more...

The Decline And Fall Of The Roman Empire

via: SeekingAlpha at 2019-06-09 20:47:21:000

Rome - the city of visible history, where the past of a whole hemisphere seems moving in funeral procession with strange ancestral images and trophies gathered from afar. - George Eliot The Romans and their empire was at its height in 117 CE. It was the most extensive political and… read more...

Dissecting The Eurozone's (Lack Of) Inflation

via: SeekingAlpha at 2019-06-06 10:09:14:000

Eurozone inflation is in the doldrums again. After perking up to 1.7% in April, it slumped back to 1.2% in May. According to Bloomberg , this was "lower than expected." But I wonder who, apart from the ECB, really expected anything else. Core inflation has been well below target for the las… read more...

Dissecting The Eurozone's (Lack Of) Inflation

via: SeekingAlpha at 2019-06-06 10:09:14:000

Eurozone inflation is in the doldrums again. After perking up to 1.7% in April, it slumped back to 1.2% in May. According to Bloomberg , this was "lower than expected." But I wonder who, apart from the ECB, really expected anything else. Core inflation has been well below target for the las… read more...

Dissecting The Eurozone's (Lack Of) Inflation

via: SeekingAlpha at 2019-06-06 10:09:14:000

Eurozone inflation is in the doldrums again. After perking up to 1.7% in April, it slumped back to 1.2% in May. According to Bloomberg , this was "lower than expected." But I wonder who, apart from the ECB, really expected anything else. Core inflation has been well below target for the las… read more...

Tariff Threats To Mexico And China Send Stocks Down In May

via: SeekingAlpha at 2019-06-06 04:47:13:000

On Friday, the 10-year Treasury bond yield collapsed to 2.13% (a 20-month low) after the stock market sold off in the wake of the surprise tariffs imposed on Mexico, to be enacted on June 10th if the Mexican government does not sufficiently cooperate with the Trump Administration to help stop … read more...

Tariff Threats To Mexico And China Send Stocks Down In May

via: SeekingAlpha at 2019-06-06 04:47:13:000

On Friday, the 10-year Treasury bond yield collapsed to 2.13% (a 20-month low) after the stock market sold off in the wake of the surprise tariffs imposed on Mexico, to be enacted on June 10th if the Mexican government does not sufficiently cooperate with the Trump Administration to help stop … read more...

Tariff Threats To Mexico And China Send Stocks Down In May

via: SeekingAlpha at 2019-06-06 04:47:13:000

On Friday, the 10-year Treasury bond yield collapsed to 2.13% (a 20-month low) after the stock market sold off in the wake of the surprise tariffs imposed on Mexico, to be enacted on June 10th if the Mexican government does not sufficiently cooperate with the Trump Administration to help stop … read more...

EU Election: Negative But Could Have Been Worse

via: SeekingAlpha at 2019-06-05 07:19:37:000

By Bill Witherell, Ph.D. The results of the European Union's Parliamentary elections, held the last weekend in May, were welcomed by investors as being not as bad as many had feared. A broad populist and nationalist anti-EU surge, which had looked possible, was avoided. Pro-EU lawmakers wi… read more...

Here Comes The Next Eurozone Recession - Maybe To Probably

via: SeekingAlpha at 2019-06-04 12:00:27:000

What Is It We're Worrying About? The eurozone is, by rough rule of thumb, some 20% of the global economy. If that goes into recession then it's going to affect everyone and every market. How do we tell if the eurozone is going into recession? Ah, well, that's much more of an art than it is… read more...

German Manufacturing's Back In Recession - This Doesn't Bode Well For The Eurozone Economy

via: SeekingAlpha at 2019-06-04 10:46:46:000

What's the Problem Here? Macroeconomic factors will overwhelm near any investment plan based upon an individual stock or bond. Thus we need to be clear on the general direction of the economy before making such specific plans. The macroeconomic indicators we've got coming out of Germany are … read more...

Financial Stability, Or Lack Thereof, Drives The Eurozone Agenda

via: SeekingAlpha at 2019-06-04 05:20:10:000

(Source: ECB , caption and editing by the Author) For those who believe that the ECB will be forced into monetary policy easing again soon, the latest mid-year Financial Stability Review has come just at the right time. It may also have come just in time for the new Chief Economist Phil… read more...

European Parliamentary Elections 2019: Caution Reaffirmed

via: SeekingAlpha at 2019-06-03 02:51:31:000

The EU parliamentary elections held last weekend delivered few surprises. Support for populist parties across the EU rose from around 22% in 2014 to around 28% currently, broadly in line with predictions from pre-election polls. The ranking of key groups in the European Parliament also looks t… read more...

Serbia's National Bank To Set Rates As Regional Volatility Resurfaces

via: SeekingAlpha at 2019-06-03 00:44:05:000

Europe: The Week Ahead (June 3-7) The National Bank of Serbia will decide on its key policy rate in the week ahead amid rising inflation pressures in the country, as well as reignited tensions with Kosovo. At its previous meeting in early May, the southeast Balkan nations central… read more...

Market Indexes Are Down In May Over Several Global Crises

via: SeekingAlpha at 2019-05-31 07:42:28:000

The S&P 500 is down about 4% so far in May (through last Friday) mostly due to trade tensions with China, but those tensions were loosened somewhat on Friday after U.S. officials eased some of the trade restrictions on China's 5G giant, Huawei, granting them a 90-day temporary extension to… read more...

Market Indexes Are Down In May Over Several Global Crises

via: SeekingAlpha at 2019-05-31 07:42:28:000

The S&P 500 is down about 4% so far in May (through last Friday) mostly due to trade tensions with China, but those tensions were loosened somewhat on Friday after U.S. officials eased some of the trade restrictions on China's 5G giant, Huawei, granting them a 90-day temporary extension to… read more...

Market Indexes Are Down In May Over Several Global Crises

via: SeekingAlpha at 2019-05-31 07:42:28:000

The S&P 500 is down about 4% so far in May (through last Friday) mostly due to trade tensions with China, but those tensions were loosened somewhat on Friday after U.S. officials eased some of the trade restrictions on China's 5G giant, Huawei, granting them a 90-day temporary extension to… read more...

U.S. Struggles To Build Physical Wall, Tries Tariff Wall On Mexico

via: SeekingAlpha at 2019-05-31 03:39:17:000

Overview: The US announcement to lay a 5% tariff on all goods coming from Mexico (starting June 10) until it stops the flow of "illegal migrants" spurred sharp losses in the Mexican peso and general risk-off move that strengthened the yen. The tariffs are set to rise every month until reachi… read more...

U.S. Struggles To Build Physical Wall, Tries Tariff Wall On Mexico

via: SeekingAlpha at 2019-05-31 03:39:17:000

Overview: The US announcement to lay a 5% tariff on all goods coming from Mexico (starting June 10) until it stops the flow of "illegal migrants" spurred sharp losses in the Mexican peso and general risk-off move that strengthened the yen. The tariffs are set to rise every month until reachi… read more...

U.S. Struggles To Build Physical Wall, Tries Tariff Wall On Mexico

via: SeekingAlpha at 2019-05-31 03:39:17:000

Overview: The US announcement to lay a 5% tariff on all goods coming from Mexico (starting June 10) until it stops the flow of "illegal migrants" spurred sharp losses in the Mexican peso and general risk-off move that strengthened the yen. The tariffs are set to rise every month until reachi… read more...

The EU: Singing From 28 Hymn Sheets

via: SeekingAlpha at 2019-05-31 00:31:37:000

By Sonal Desai, Ph.D., Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income What's the investment lesson in Europe's recent parliamentary elections? Our Fixed Income CIO Sonal Desai says it's differentiation. Read more of what's on her mind about this topic…. read more...

The EU: Singing From 28 Hymn Sheets

via: SeekingAlpha at 2019-05-31 00:31:37:000

By Sonal Desai, Ph.D., Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income What's the investment lesson in Europe's recent parliamentary elections? Our Fixed Income CIO Sonal Desai says it's differentiation. Read more of what's on her mind about this topic…. read more...

The EU: Singing From 28 Hymn Sheets

via: SeekingAlpha at 2019-05-31 00:31:37:000

By Sonal Desai, Ph.D., Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income What's the investment lesson in Europe's recent parliamentary elections? Our Fixed Income CIO Sonal Desai says it's differentiation. Read more of what's on her mind about this topic…. read more...

The EU Elections Portend A Full-Blown European Crisis

via: SeekingAlpha at 2019-05-30 16:44:52:000

The Trump administration would be making a grave mistake to gloss over the major political setbacks for the United Kingdom, Italy and Germany in last Sunday's European parliamentary elections. This is especially true given that the world economic recovery is threatened by worsening U.S.-Chin… read more...

The EU Elections Portend A Full-Blown European Crisis

via: SeekingAlpha at 2019-05-30 16:44:52:000

The Trump administration would be making a grave mistake to gloss over the major political setbacks for the United Kingdom, Italy and Germany in last Sunday's European parliamentary elections. This is especially true given that the world economic recovery is threatened by worsening U.S.-Chin… read more...

The EU Elections Portend A Full-Blown European Crisis

via: SeekingAlpha at 2019-05-30 16:44:52:000

The Trump administration would be making a grave mistake to gloss over the major political setbacks for the United Kingdom, Italy and Germany in last Sunday's European parliamentary elections. This is especially true given that the world economic recovery is threatened by worsening U.S.-Chin… read more...

European Elections: Centrists Struggle But No Breakthrough For The Far Right

via: SeekingAlpha at 2019-05-30 13:18:58:000

By Bethany Payne The European Parliament elections on May 23 produced damaging results in varying degrees for both the European Parliament and the main parties in the UK. Bethany Payne, a Global Bond Portfolio Manager, explains the main points and provides a brief assessment of the impact… read more...

Both Eurozone Sentiment And Lending Surprise To The Upside

via: SeekingAlpha at 2019-05-30 02:15:52:000

By Bert Colijn , Senior Economist, Eurozone Economic sentiment in the eurozone rises from 103.9 to 105.1 in May and lending picked up in April. While still in line with weaker growth for Q2, it does put the growth outlook in a somewhat better light This bounceback in eurozone sentiment co… read more...

What Does The Fragmented Parliamentary Election Mean For Europe?

via: SeekingAlpha at 2019-05-30 01:15:59:000

Posted by Kristina Hooper, Chief Global Market Strategist on May 28, 2019, in Market & Economic Weekly Market Compass: Also, Theresa May resigns, and US-China trade talks break down All eyes were on Europe this past week. First, UK Prime Minister Theresa May announced her… read more...

Italy: Big Victory For The League, Big Defeat For 5SM

via: SeekingAlpha at 2019-05-29 03:54:23:000

By Paolo Pizzoli , Senior Economist, EMU, Italy, Greece Despite reassuring comments from Matteo Salvini, the extremely polarised result of the European election in principle increases political uncertainty, in our view. The chances that the League could eventually decide to cash in and g… read more...

The ECB's Monetary Trap

via: SeekingAlpha at 2019-05-28 03:53:13:000

The European Central Bank continues to disproportionately inflate the debt bubble of the Eurozone, while the economic slowdown of the main European economies worsens. What was designed as a tool for governments to buy time in order to carry out structural reforms and reduce imbalances, has bec… read more...

European Parliamentary Elections: A Barometer Of European Thinking?

via: SeekingAlpha at 2019-05-27 07:35:43:000

European parliamentary elections don't typically generate international headlines, but with Brexit still unsettled, this time they are front and center. Our Head of European Fixed Income David Zahn says voters are clearly venting their frustrations, but what is really needed to restore greater… read more...

The European Elections - The Kick-Off Begins

via: SeekingAlpha at 2019-05-25 21:33:44:000

While everyone is focused on the Chinese "Game of Thrones," with the United States, I am not. The tariff wars could go on for months, if not years. While it is true that China has the second largest economy, it is 41% smaller than the United States. We can withstand the heat much better and fo… read more...

The European Union - Caught In The Crossfire!

via: SeekingAlpha at 2019-05-23 05:36:11:000

There are no bullets, but plenty of verbal projectiles being fired. "More Europe" has dwindled to a pipe-dream shared by Mr. Macron and Ms. Merkel and few others. The notion of a European Parliament having sway over each of the 27 nations in the European Union is about to be dismantled, in my … read more...

The European Union - Caught In The Crossfire!

via: SeekingAlpha at 2019-05-23 05:36:11:000

There are no bullets, but plenty of verbal projectiles being fired. "More Europe" has dwindled to a pipe-dream shared by Mr. Macron and Ms. Merkel and few others. The notion of a European Parliament having sway over each of the 27 nations in the European Union is about to be dismantled, in my … read more...

The European Union - Caught In The Crossfire!

via: SeekingAlpha at 2019-05-23 05:36:11:000

There are no bullets, but plenty of verbal projectiles being fired. "More Europe" has dwindled to a pipe-dream shared by Mr. Macron and Ms. Merkel and few others. The notion of a European Parliament having sway over each of the 27 nations in the European Union is about to be dismantled, in my … read more...

Why Under-Owned Europe May Be Worth A Look

via: SeekingAlpha at 2019-05-23 05:06:26:000

Elga suggests a few investment options that may benefit from a pick-up in European growth and any decline in geopolitical concerns. We continue to prefer a "barbell" approach to risk-taking in the late-cycle stage: quality stocks, income-generating bonds and emerging markets. And there a… read more...

Why Under-Owned Europe May Be Worth A Look

via: SeekingAlpha at 2019-05-23 05:06:26:000

Elga suggests a few investment options that may benefit from a pick-up in European growth and any decline in geopolitical concerns. We continue to prefer a "barbell" approach to risk-taking in the late-cycle stage: quality stocks, income-generating bonds and emerging markets. And there a… read more...

Why Under-Owned Europe May Be Worth A Look

via: SeekingAlpha at 2019-05-23 05:06:26:000

Elga suggests a few investment options that may benefit from a pick-up in European growth and any decline in geopolitical concerns. We continue to prefer a "barbell" approach to risk-taking in the late-cycle stage: quality stocks, income-generating bonds and emerging markets. And there a… read more...

Europe - All Along The Watchtower

via: SeekingAlpha at 2019-05-22 05:43:37:000

There are many here among us who feel that life is but a joke But you and I, we've been through that, and this is not our fate So let us not talk falsely now, the hour is getting late - Bob Dylan I am standing on the Watchtower now. I am peering intently at the European election, w… read more...

Hard Brexit Or Not, U.K. Stocks Are Likely Headed Higher

via: SeekingAlpha at 2019-05-21 16:59:39:000

Its been almost three years since the original Brexit referendum passed in a vote that stunned Europe. The British people voted to get out of the European Union, and were still waiting for it to happen nearly three years later. At the time of the vote, headlines were blaring Ar… read more...

As Europe Keeps Falling, The Implications For Europe And Everyone Else

via: SeekingAlpha at 2019-05-18 10:57:54:000

In late March, as global pessimism was renewed in the world's bond markets, ECB President Mario Draghi appeared as he always does to urge optimism. Yes, Europe's economy in particular didn't finish 2018 as he had been expecting. But a soft patch, Draghi said, wouldn't necessarily " foreshadow … read more...

As Europe Keeps Falling, The Implications For Europe And Everyone Else

via: SeekingAlpha at 2019-05-18 10:57:54:000

In late March, as global pessimism was renewed in the world's bond markets, ECB President Mario Draghi appeared as he always does to urge optimism. Yes, Europe's economy in particular didn't finish 2018 as he had been expecting. But a soft patch, Draghi said, wouldn't necessarily " foreshadow … read more...

As Europe Keeps Falling, The Implications For Europe And Everyone Else

via: SeekingAlpha at 2019-05-18 10:57:54:000

In late March, as global pessimism was renewed in the world's bond markets, ECB President Mario Draghi appeared as he always does to urge optimism. Yes, Europe's economy in particular didn't finish 2018 as he had been expecting. But a soft patch, Draghi said, wouldn't necessarily " foreshadow … read more...

As Europe Keeps Falling, The Implications For Europe And Everyone Else

via: SeekingAlpha at 2019-05-18 10:57:54:000

In late March, as global pessimism was renewed in the world's bond markets, ECB President Mario Draghi appeared as he always does to urge optimism. Yes, Europe's economy in particular didn't finish 2018 as he had been expecting. But a soft patch, Draghi said, wouldn't necessarily " foreshadow … read more...

Investors In Europe Beware Problematic Politics

via: SeekingAlpha at 2019-05-16 04:04:31:000

Elga explains why politics pose the biggest risk to our base case that European growth should rebound in the second half of this year - and why the European Central Bank's perceived lack of policy options is also a concern. We expect eurozone growth to pick up in the second half of this ye… read more...

Investors In Europe Beware Problematic Politics

via: SeekingAlpha at 2019-05-16 04:04:31:000

Elga explains why politics pose the biggest risk to our base case that European growth should rebound in the second half of this year - and why the European Central Bank's perceived lack of policy options is also a concern. We expect eurozone growth to pick up in the second half of this ye… read more...

Recession Or Regression Through Suppression?

via: SeekingAlpha at 2019-05-14 07:53:26:000

Fog in the Channel - Europe isolated So goes an English BBC radio news statement in the 1930s - during the fading days of the British Empire - that showed the disdain the grand elites of Britain towards the minor beings living on the European mainland who had never enjoyed the superior way… read more...

Recession Or Regression Through Suppression?

via: SeekingAlpha at 2019-05-14 07:53:26:000

Fog in the Channel - Europe isolated So goes an English BBC radio news statement in the 1930s - during the fading days of the British Empire - that showed the disdain the grand elites of Britain towards the minor beings living on the European mainland who had never enjoyed the superior way… read more...

The Rotten Eurozone's Dead Cat Uncertainty Principle

via: SeekingAlpha at 2019-05-13 04:11:38:000

(Source: AZ Quotes , caption and editing by the Author, sagacity by T.S. Eliot) The true state, of what was referred to as "rotten" in the Eurozone, has become clear as elections for the top jobs commence. European Council President Donald Tusk, a Polish native, made it clear that Fra… read more...

The Life Of Riley

via: SeekingAlpha at 2019-05-13 02:34:46:000

I have had the good fortune to be around here for 45 years now. I think I must be approaching some sort of record. It has been a wonderful adventure. Sure, there have been some tough moments, and some mistakes, but then Wall Street is a "learn as you go" enterprise. There is nothing, and I mea… read more...

May Economic Update: Just When Things Were Looking Up

via: SeekingAlpha at 2019-05-10 05:39:28:000

By Mark Cliffe , Chief Economist and Head of Global Research of the ING Group Trade tensions return Just as pockets of optimism had begun to emerge in the global economy, trade tensions are back. President Trump has taken the trade war a step further with the imposition of fresh tariffs… read more...

May Economic Update: Just When Things Were Looking Up

via: SeekingAlpha at 2019-05-10 05:39:28:000

By Mark Cliffe , Chief Economist and Head of Global Research of the ING Group Trade tensions return Just as pockets of optimism had begun to emerge in the global economy, trade tensions are back. President Trump has taken the trade war a step further with the imposition of fresh tariffs… read more...

May Economic Update: Just When Things Were Looking Up

via: SeekingAlpha at 2019-05-10 05:39:28:000

By Mark Cliffe , Chief Economist and Head of Global Research of the ING Group Trade tensions return Just as pockets of optimism had begun to emerge in the global economy, trade tensions are back. President Trump has taken the trade war a step further with the imposition of fresh tariffs… read more...

ECB: Next ECB President Must Keep Up The Pace Of Change

via: SeekingAlpha at 2019-05-08 20:03:26:000

In only a few weeks, European leaders will have to decide on a new ECB President to replace the incumbent Mario Draghi, whose term expires in October. Draghi has been a radical ECB president, deftly playing a difficult political hand to win support for a EUR 2.5trn ECB balance sheet expansion…. read more...

Your Wake-Up Call

via: SeekingAlpha at 2019-05-07 06:07:43:000

How do you like me now? How do you like me now, Now that I'm on my way? Do you still think I'm crazy Standin' here today? - Toby Keith We are but three weeks out from a defining moment for the world. I remain convinced that most people, and financial institutions, do not un… read more...

Your Wake-Up Call

via: SeekingAlpha at 2019-05-07 06:07:43:000

How do you like me now? How do you like me now, Now that I'm on my way? Do you still think I'm crazy Standin' here today? - Toby Keith We are but three weeks out from a defining moment for the world. I remain convinced that most people, and financial institutions, do not un… read more...

The Eurozone's Long Depression

via: SeekingAlpha at 2019-05-07 00:21:07:000

Sectoral balances can tell us so much about what is going on in an economy. Especially when they are expressed as a time series, as in this remarkable chart from the ECB : Although it is a time series, this is not a rate of change chart. The y axis is in billions of euros, not in percenta… read more...

The Eurozone's Long Depression

via: SeekingAlpha at 2019-05-07 00:21:07:000

Sectoral balances can tell us so much about what is going on in an economy. Especially when they are expressed as a time series, as in this remarkable chart from the ECB : Although it is a time series, this is not a rate of change chart. The y axis is in billions of euros, not in percenta… read more...

European Elections: Big Changes, Or Business As Usual?

via: SeekingAlpha at 2019-05-06 23:25:12:000

By David Zahn, CFA, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group Many observers are predicting that European elections later this month will usher a wave of populist representatives into the European Parliament. David Zahn, Head of Euro… read more...

European Elections: Big Changes, Or Business As Usual?

via: SeekingAlpha at 2019-05-06 23:25:12:000

By David Zahn, CFA, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group Many observers are predicting that European elections later this month will usher a wave of populist representatives into the European Parliament. David Zahn, Head of Euro… read more...

Eurozone Manufacturing PMI Holds Close To 6-Year Low At Start Of Second Quarter

via: SeekingAlpha at 2019-05-06 01:58:29:000

The euro area's manufacturing sector remained deep in decline at the start of the second quarter. Although the headline PMI rose for the first time in nine months, up from 47.5 to 47.9, the April reading was the second-lowest seen over the past six years, signalling a deterioration of overall … read more...

Is An End To The China/U.S. Trade War Possible In The Next Week?

via: SeekingAlpha at 2019-05-04 11:24:39:000

In today's episode of Market Week in Review, Research Analyst Brian Yadao and Senior Investment Strategist Paul Eitelman unpack so much economic data, it's a wonder we could fit it into a single video. China/U.S. trade dtente? How close are we? On the topic of the China/U.S. tra… read more...

Is An End To The China/U.S. Trade War Possible In The Next Week?

via: SeekingAlpha at 2019-05-04 11:24:39:000

In today's episode of Market Week in Review, Research Analyst Brian Yadao and Senior Investment Strategist Paul Eitelman unpack so much economic data, it's a wonder we could fit it into a single video. China/U.S. trade dtente? How close are we? On the topic of the China/U.S. tra… read more...

Eurozone Debt Disputes Make An Unhappy Union

via: SeekingAlpha at 2019-05-03 16:34:48:000

By David Zahn, CFA, FRM, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group When investing in sovereign debt, there is a level of trust involved - faith a government will return an investor's principal plus interest without fail. But Franklin Temple… read more...

Eurozone Debt Disputes Make An Unhappy Union

via: SeekingAlpha at 2019-05-03 16:34:48:000

By David Zahn, CFA, FRM, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group When investing in sovereign debt, there is a level of trust involved - faith a government will return an investor's principal plus interest without fail. But Franklin Temple… read more...

Why We See A Renewed Spring In Europe's Step

via: SeekingAlpha at 2019-05-02 22:09:42:000

Elga explains the reasons we see a European economic recovery in the second half of the year - including an easing of financial conditions, Chinese stimulus and solid domestic demand. Europe is still holding back global growth, having been a key support in prior years. Yet much of the euro… read more...

Elections To Bring Answers - And Perhaps More Questions - For Europe

via: SeekingAlpha at 2019-05-01 02:11:47:000

Posted by Kristina Hooper, Chief Global Market Strategist on Apr 29, 2019, in Market & Economic Weekly Market Compass: Polarization is expected to increase, prompting new alliances and coalitions It is spring and elections are in the air - along with expectations for incr… read more...

Elections To Bring Answers - And Perhaps More Questions - For Europe

via: SeekingAlpha at 2019-05-01 02:11:47:000

Posted by Kristina Hooper, Chief Global Market Strategist on Apr 29, 2019, in Market & Economic Weekly Market Compass: Polarization is expected to increase, prompting new alliances and coalitions It is spring and elections are in the air - along with expectations for incr… read more...

Risk On/Risk Off

via: SeekingAlpha at 2019-04-30 21:08:52:000

After the October through December downfall, the world is looking brighter with all of the major American equity indexes up significantly. In the last three months the DJIA is up 7.99% while the S&P 500 has risen 11.36% and the NASDAQ is up 15.91%. For the last year, the DJIA is up 9.18% w… read more...

Risk On/Risk Off

via: SeekingAlpha at 2019-04-30 21:08:52:000

After the October through December downfall, the world is looking brighter with all of the major American equity indexes up significantly. In the last three months the DJIA is up 7.99% while the S&P 500 has risen 11.36% and the NASDAQ is up 15.91%. For the last year, the DJIA is up 9.18% w… read more...

Brexit Extension And European Elections: What Do These Mean For The Gilt Market?

via: SeekingAlpha at 2019-04-29 08:22:58:000

By Ali Rajani The European Council has granted the UK Prime minister, Theresa May, a six-month extension to formulate and get a Withdrawal Agreement approved by the UK Parliament. Although this extension is a temporary relief for businesses and investors in the UK, the next few months ca… read more...

Brexit Extension And European Elections: What Do These Mean For The Gilt Market?

via: SeekingAlpha at 2019-04-29 08:22:58:000

By Ali Rajani The European Council has granted the UK Prime minister, Theresa May, a six-month extension to formulate and get a Withdrawal Agreement approved by the UK Parliament. Although this extension is a temporary relief for businesses and investors in the UK, the next few months ca… read more...

Short And Sharp: Europe's Sob Story May Be Ending Soon

via: SeekingAlpha at 2019-04-25 23:25:25:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Surprise, surprise. European data is underwhelming. The German Ifo index is close to four-year lows, the European composite PMI remains sluggish, and industrial production is trailing. All this against a backdrop of re… read more...

Short And Sharp: Europe's Sob Story May Be Ending Soon

via: SeekingAlpha at 2019-04-25 23:25:25:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Surprise, surprise. European data is underwhelming. The German Ifo index is close to four-year lows, the European composite PMI remains sluggish, and industrial production is trailing. All this against a backdrop of re… read more...

Short And Sharp: Europe's Sob Story May Be Ending Soon

via: SeekingAlpha at 2019-04-25 23:25:25:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Surprise, surprise. European data is underwhelming. The German Ifo index is close to four-year lows, the European composite PMI remains sluggish, and industrial production is trailing. All this against a backdrop of re… read more...

Looking For Clues On Growth

via: SeekingAlpha at 2019-04-24 00:05:04:000

Posted by Kristina Hooper, Chief Global Market Strategist on April 22, 2019, in Market & Economic The view of future growth remains blurry for the world - including the US, China and Europe. In the past several months, we have seen central banks make an abrupt turn toward… read more...

Looking For Clues On Growth

via: SeekingAlpha at 2019-04-24 00:05:04:000

Posted by Kristina Hooper, Chief Global Market Strategist on April 22, 2019, in Market & Economic The view of future growth remains blurry for the world - including the US, China and Europe. In the past several months, we have seen central banks make an abrupt turn toward… read more...

Europe Is Running Out Of Road

via: SeekingAlpha at 2019-04-23 21:48:42:000

Welcome to the Tortoise QuickTake podcast . Thank you for joining us. Today, Tortoise provides a timely update on trending topics in the market. Hello, Im Graham Allen Senior Portfolio Manager at Tortoise Credit. If you keep kicking the can down the road, eventually you run out of… read more...

Europe Is Running Out Of Road

via: SeekingAlpha at 2019-04-23 21:48:42:000

Welcome to the Tortoise QuickTake podcast . Thank you for joining us. Today, Tortoise provides a timely update on trending topics in the market. Hello, Im Graham Allen Senior Portfolio Manager at Tortoise Credit. If you keep kicking the can down the road, eventually you run out of… read more...

Time To Rethink Euro Pessimism

via: SeekingAlpha at 2019-04-22 02:59:16:000

By Patrick Barbe, Head of European Fixed Income Todays CIO Weekly Perspectives comes from guest contributor Patrick Barbe . The eurozone has for some time faced a lot of economic, regulatory and political uncertainties and challenges. The European Central Bank has done muc… read more...

Time To Rethink Euro Pessimism

via: SeekingAlpha at 2019-04-22 02:59:16:000

By Patrick Barbe, Head of European Fixed Income Todays CIO Weekly Perspectives comes from guest contributor Patrick Barbe . The eurozone has for some time faced a lot of economic, regulatory and political uncertainties and challenges. The European Central Bank has done muc… read more...

Springtime Sentiment Shift, Germany Edition

via: SeekingAlpha at 2019-04-18 02:23:37:000

Germany's ZEW survey became the latest to pick up a pick up in sentiment. This particular appraisal had been one of the first early on last year to suggest a beginning slide toward downturn. In its latest reading for forward expectations, the index registered +3.1 this week. It was both the hi… read more...

Springtime Sentiment Shift, Germany Edition

via: SeekingAlpha at 2019-04-18 02:23:37:000

Germany's ZEW survey became the latest to pick up a pick up in sentiment. This particular appraisal had been one of the first early on last year to suggest a beginning slide toward downturn. In its latest reading for forward expectations, the index registered +3.1 this week. It was both the hi… read more...

Springtime Sentiment Shift, Germany Edition

via: SeekingAlpha at 2019-04-18 02:23:37:000

Germany's ZEW survey became the latest to pick up a pick up in sentiment. This particular appraisal had been one of the first early on last year to suggest a beginning slide toward downturn. In its latest reading for forward expectations, the index registered +3.1 this week. It was both the hi… read more...

Springtime Sentiment Shift, Germany Edition

via: SeekingAlpha at 2019-04-18 02:23:37:000

Germany's ZEW survey became the latest to pick up a pick up in sentiment. This particular appraisal had been one of the first early on last year to suggest a beginning slide toward downturn. In its latest reading for forward expectations, the index registered +3.1 this week. It was both the hi… read more...

Veracity Of Chinese Data Questioned, But Lifts Sentiment Nevertheless

via: SeekingAlpha at 2019-04-17 04:11:48:000

Overview: The veracity of Chinese data will be questioned by economists, but today's upbeat reports round out a picture that began with stronger exports and a surge in lending. Chinese officials, we argue, had a "Draghi moment" and decided to do "whatever it takes" to strengthen the economy … read more...

Will The ECB Or The Dirigistes Reflate The Eurozone Dirigible?

via: SeekingAlpha at 2019-04-16 03:43:06:000

(Original Photo: Eastwings , caption by Author) With surprising objectivity and clarity, the IMF has politely suggested that the Eurozone may wish to prepare to deal with the next economic slowdown. This classic understatement belies the fact that this slowdown has already been gestating … read more...

Storm Warnings Over The Atlantic

via: SeekingAlpha at 2019-04-15 03:04:12:000

By Erik Knutzen, Chief Investment Officer - Multi-Asset Class Our geopolitical risk focus turns to Europe - and trade conflict with the U.S. looms largest. When I talk with clients I get asked a lot about the key political or geopolitical risks that asset allocators should look out for… read more...

Europe - The Can Kicking Continues

via: SeekingAlpha at 2019-04-13 21:01:36:000

You would think that Britain could reach a decision. You would think that the European Union could reach a decision. Obviously, both incorrect assumptions. It reminds me of Greece and then Italy just keep kicking the can along. The end-date was March 29 and then extended until April 12. Now … read more...

China Beats Expectations And Brexit Avoids The Cliff Edge, What Does It Mean For Markets?

via: SeekingAlpha at 2019-04-13 04:06:42:000

On the latest edition of Market Week in Review, U.S. Institutional Senior Director Rob Cittadini and Senior Investment Strategist Paul Eitelman discuss recent economic data from China, the Brexit deadline extension, and the contrasting impact on global equity and fixed-income markets. C… read more...

Does No Brexit Mean No Brexit?

via: SeekingAlpha at 2019-04-11 05:49:38:000

So the financial markets judged the Brexit - Britains so far failed attempt to leave the European Union, correctly. The no deal Brexit that would have seen the United Kingdom crashing out of the EU tomorrow, without any transition agreement, is not going to happen. It… read more...

Does No Brexit Mean No Brexit?

via: SeekingAlpha at 2019-04-11 05:49:38:000

So the financial markets judged the Brexit - Britains so far failed attempt to leave the European Union, correctly. The no deal Brexit that would have seen the United Kingdom crashing out of the EU tomorrow, without any transition agreement, is not going to happen. It… read more...

Navigating Uncertainty In Inflation Markets: The European Case

via: SeekingAlpha at 2019-04-10 02:10:22:000

Recently, a change in the measurement of one subcomponent in Europe's key inflation gauge prompted a significant recalculation in the entire index. Investors in euro area inflation-related assets now find themselves in a more uncertain environment. We believe an active, flexible portfolio appr… read more...

3 Key Takeaways From 4 Days In Europe

via: SeekingAlpha at 2019-04-10 00:25:08:000

Posted by Kristina Hooper, Chief Global Market Strategist on April 8, 2019, in Market & Economic Weekly Market Compass: Brexit, the ECB and the eurozone economy were the main topics of conversation Last week, I had the pleasure of traveling in Europe, meeting with colleag… read more...

Europe - The Big Short

via: SeekingAlpha at 2019-04-09 22:14:37:000

Of all of the troubles, the problems, the "Risks" that abound in the markets, the global dangers, the biggest, by far, are now in Europe. You can talk about China, the raucous behavior between the Democrats and the Republicans in the United States, the backflip of the Fed, pick any subject tha… read more...

Rampant Eurozone Deflation Creates A Bizarre Deutsche Bank Correlation

via: SeekingAlpha at 2019-04-09 01:23:34:000

As German 10-year bunds were headed towards their first dive into negative territory in 2016, courtesy of the epic Brexit disaster and the overall deflationary environment in the eurozone, the stock of the largest bank in Germany - and one of the largest in the world - was trading with a tru… read more...

Hope Springs Eternal

via: SeekingAlpha at 2019-04-06 20:38:09:000

The global financial markets had a very strong week with expectations rising that the U.S. and China would reach a trade deal reigniting global growth. While all the comments from Trump and Xi support an optimistic view, we are not yet there and won't be for another 4 weeks or so. Growth in th… read more...

Hope Springs Eternal

via: SeekingAlpha at 2019-04-06 20:38:09:000

The global financial markets had a very strong week with expectations rising that the U.S. and China would reach a trade deal reigniting global growth. While all the comments from Trump and Xi support an optimistic view, we are not yet there and won't be for another 4 weeks or so. Growth in th… read more...

Trade Talk And German Industrial Output Lifts Sentiment

via: SeekingAlpha at 2019-04-05 05:38:55:000

Overview: Comments by Chinese President Xi, recognizing substantial progress in trade, helped boost sentiment after the US-China negotiators failed to set a date for the meeting between the two presidents. Although we have argued that the German economy may be past the worst, the sharp drop … read more...

Trade Talk And German Industrial Output Lifts Sentiment

via: SeekingAlpha at 2019-04-05 05:38:55:000

Overview: Comments by Chinese President Xi, recognizing substantial progress in trade, helped boost sentiment after the US-China negotiators failed to set a date for the meeting between the two presidents. Although we have argued that the German economy may be past the worst, the sharp drop … read more...

Economic Forces, Not Tariffs, Drive Changes In Trade Balances

via: SeekingAlpha at 2019-04-04 21:30:32:000

By Johannes Eugster, Economist, Multilateral Surveillance Division, IMF Research Department; Florence Jaumotte, Deputy Division Chief, IMF's Research Department; Margaux MacDonald, Economist, Research Department of the IMF; and Roberto Piazza, Economist, Multilateral Surveillance Division, IM… read more...

Economic Forces, Not Tariffs, Drive Changes In Trade Balances

via: SeekingAlpha at 2019-04-04 21:30:32:000

By Johannes Eugster, Economist, Multilateral Surveillance Division, IMF Research Department; Florence Jaumotte, Deputy Division Chief, IMF's Research Department; Margaux MacDonald, Economist, Research Department of the IMF; and Roberto Piazza, Economist, Multilateral Surveillance Division, IM… read more...

ECB's Business Analyst On The Euro, Negative Rates And The Inverted Yield Curve

via: SeekingAlpha at 2019-04-03 01:29:05:000

By Jeremy Schwartz, CFA Last week on the "Behind the Markets" podcast, Professor Jeremy Siegel from The Wharton School at the University of Pennsylvania and I had the pleasure of speaking with Dr. Diego Rodriguez-Palenzuela, who heads the European Central Bank's (ECB) business analysis div… read more...

ECB's Business Analyst On The Euro, Negative Rates And The Inverted Yield Curve

via: SeekingAlpha at 2019-04-03 01:29:05:000

By Jeremy Schwartz, CFA Last week on the "Behind the Markets" podcast, Professor Jeremy Siegel from The Wharton School at the University of Pennsylvania and I had the pleasure of speaking with Dr. Diego Rodriguez-Palenzuela, who heads the European Central Bank's (ECB) business analysis div… read more...

Don't Be An April Fool

via: SeekingAlpha at 2019-04-02 21:05:13:000

When an inestimable amount of "Risk" is staring at you, hard in the face, then it is time to back up from the "Danger Zone." That is how I play the Great Game, to respect Grant's first through tenth Rule, which is "Preservation of Capital." It is the identification of the "Risk," which is impo… read more...

Don't Be An April Fool

via: SeekingAlpha at 2019-04-02 21:05:13:000

When an inestimable amount of "Risk" is staring at you, hard in the face, then it is time to back up from the "Danger Zone." That is how I play the Great Game, to respect Grant's first through tenth Rule, which is "Preservation of Capital." It is the identification of the "Risk," which is impo… read more...

Eurodollar Futures: The Basics

via: SeekingAlpha at 2019-03-31 17:04:00:000

By CME Group Editor's Note: The summary bullets for this article were chosen by Seeking Alpha Read more … read more...

Eurodollar Futures: The Basics

via: SeekingAlpha at 2019-03-31 17:04:00:000

By CME Group Editor's Note: The summary bullets for this article were chosen by Seeking Alpha Read more … read more...

Can The EU Survive The Next Financial Crisis?

via: SeekingAlpha at 2019-03-30 09:19:06:000

By Alasdair Macleod Despite the ECB's subsidy of the Eurozone's banking system , it remains in a sleepwalking state similar to the non-financial, non-crony-capitalist zombified economy. Gone are the heady days of investment banking. There is now a legacy of derivatives and regulators' fin… read more...

Can The EU Survive The Next Financial Crisis?

via: SeekingAlpha at 2019-03-30 09:19:06:000

By Alasdair Macleod Despite the ECB's subsidy of the Eurozone's banking system , it remains in a sleepwalking state similar to the non-financial, non-crony-capitalist zombified economy. Gone are the heady days of investment banking. There is now a legacy of derivatives and regulators' fin… read more...

E.U., U.K. Are Facing The Prospect Of A No-Deal Brexit

via: SeekingAlpha at 2019-03-26 00:57:44:000

Original Post By Stuart Burns Observers outside the U.K. have probably viewed the Brexit process with a generally sanguine approach, assuming that the mother of all parliaments would come - in that most British of traditions - to some kind of pragmatic solution to the wide disparit… read more...

E.U., U.K. Are Facing The Prospect Of A No-Deal Brexit

via: SeekingAlpha at 2019-03-26 00:57:44:000

Original Post By Stuart Burns Observers outside the U.K. have probably viewed the Brexit process with a generally sanguine approach, assuming that the mother of all parliaments would come - in that most British of traditions - to some kind of pragmatic solution to the wide disparit… read more...

E.U., U.K. Are Facing The Prospect Of A No-Deal Brexit

via: SeekingAlpha at 2019-03-26 00:57:44:000

Original Post By Stuart Burns Observers outside the U.K. have probably viewed the Brexit process with a generally sanguine approach, assuming that the mother of all parliaments would come - in that most British of traditions - to some kind of pragmatic solution to the wide disparit… read more...

Beyond The Brexit Trees, Is There Light In The EU Wood?

via: SeekingAlpha at 2019-03-25 06:39:22:000

By John Taylor Now that the UK has avoided (at least for now) a hard Brexit as it negotiates to extend Article 50, investors might reasonably wonder whether they can relax for a moment and take stock of the bigger picture. What sort of longer-term future does the European Union (EU) have, … read more...

The Smallest Of Extensions

via: SeekingAlpha at 2019-03-24 06:19:28:000

Theresa May, Prime Minister of Britain, had asked for a new Brexit deadline of June 30. This was denied by the European Union. What was granted, however, was an extension to May 22, the day before the EU elections commence, if the Prime Minister can persuade lawmakers in Parliament to accept h… read more...

A European Banking Crisis?

via: SeekingAlpha at 2019-03-24 00:34:25:000

Originally published March 21, 2019 We are but 9 days away from the Brexit deadline. Britain has asked for an extension and the President of France denied it yesterday. I do not like calling "Wolf" but we may be headed for a crisis. What we know for sure, today, is that there is a massive … read more...

For France, Brexit Is Not Primarily About Britain

via: SeekingAlpha at 2019-03-23 05:08:32:000

It is very easy for Americans to view Brexit from a British perspective. Our (approximately) common language makes British media very accessible. The events in the British parliament are dramatic and can be watched on YouTube. Our President (and his family ) are getting involved in the proc… read more...

Downturn Is Here

via: SeekingAlpha at 2019-03-22 23:58:19:000

Confirmation that it wasn't a shallow Rhine and emissions regulations. Something big is going on in Europe, Germany first. And if the German economy stumbles, particularly its industrial and manufacturing sector, we can reasonably infer its cause - the entire global economy is suffering. As … read more...

Dreadful EMU PMI And U.S. Machinations Rival Brexit For Attention

via: SeekingAlpha at 2019-03-22 05:27:38:000

Overview : The S&P 500 recovered from the post-FOMC reversal to close a new 5-month high yesterday, led by technology. Financials were the only main sector to retreat. The large equity markets in Asia, Japan, China, Australia, South Korea, and Taiwan all advanced. Europe's Dow Jones Stoxx… read more...

Can The EU's Extension Offer Really Break The Brexit Deadlock?

via: SeekingAlpha at 2019-03-22 03:38:26:000

By David Zahn, CFA, FRM, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group After a nail-biting few hours, European Union leaders have agreed to the UK government's request to delay Brexit, albeit the extension is less than Theresa May had requeste… read more...

Brexit Uncertainty Could Last For Another 21 Months

via: SeekingAlpha at 2019-03-22 00:20:40:000

The chances of a "no-deal" Brexit have lessened, but the timeline to resolution has lengthened. Posted by Arnab Das, Global Market Strategist, EMEA, and Michael Siviter, Senior Fixed Income Portfolio Manager on March 20, 2019, in Market & Economic The latest installment o… read more...

Dovish Fed Sends Global Yields Lower, But Little Succor For Stocks

via: SeekingAlpha at 2019-03-21 04:02:20:000

Overview: The dovishness of the Federal Reserve sent ripples through the capital markets. US equities reversed initial gains, but Asia Pacific equities edged higher, though Japanese markets were closed for a national holiday. European shares are struggling, as financials and consumer discret… read more...

European Stocks And Sterling To Rally On Second Brexit Referendum

via: SeekingAlpha at 2019-03-21 03:21:55:000

The arcane mechanisms of the European Union are about as interesting as watching paint dry or reading the small print of a share document. But for anybody wanting to know how the Brexit - Britain's failing attempt to leave the EU - will turn out, it is important to pay attention. Last night … read more...

The Failure Of Europe And Great Britain

via: SeekingAlpha at 2019-03-19 11:39:47:000

Perhaps nothing summarizes the efforts of British Prime Minister Theresa May and the European Union to produce an exit for the UK from the European community than the opinion piece by Robert Shrimsley in the Financial Times . Mr. Shrimsley, discussing the exit plan produced by Ms. May, writ… read more...

The Failure Of Europe And Great Britain

via: SeekingAlpha at 2019-03-19 11:39:47:000

Perhaps nothing summarizes the efforts of British Prime Minister Theresa May and the European Union to produce an exit for the UK from the European community than the opinion piece by Robert Shrimsley in the Financial Times . Mr. Shrimsley, discussing the exit plan produced by Ms. May, writ… read more...

The Specter Of 'Rehnfeld' Falls Across The ECB's Monetary Policy Transfer Mechanism

via: SeekingAlpha at 2019-03-18 09:39:28:000

(Source: Author) The current debate, whether the current Eurozone slowdown is in a recession or not, is abstract and also misses the point. What needs to be debated is the kind of policy response required in the worst case scenario that it is a recession. Simply talking about the expected ec… read more...

'No-Deal' Brexit Looms Very Large As Europe Faces Its Lehman Moment

via: SeekingAlpha at 2019-03-18 02:09:11:000

The Wall Street Journal opined last week that it had lost the plot in trying to follow the Brexit - Britain's tortured exit process from the European Union - but noted that markets seem to have decided this is a non-event. Is this the biggest error in macro policy thinking since the US authori… read more...

EU Monetary And Economic Failures

via: SeekingAlpha at 2019-03-18 01:13:12:000

Introduction and summary The monetary, financial and political weaknesses of the EU are about to be exposed by the forthcoming global credit crisis. This article assumes the combination of end of credit cycle dynamics and the rise in trade protectionism in 1929 is a valid precedent for gau… read more...

Brexit, Yellow Jackets, Venezuela And Global Threats With Ben Hockman

via: SeekingAlpha at 2019-03-17 23:33:58:000

This week on the podcast, Chris speaks with Ben Hockman. Ben is part of an incident response team for one of the largest financial institutions in the world. This team has a heavy focus on cybersecurity, intelligence, terrorism and physical security, with active operations in Latin America, th… read more...

3 Highlights In The Week Ahead

via: SeekingAlpha at 2019-03-17 03:57:12:000

Three events next week will shape the investment climate. The Federal Reserve meets and will update its forecasts and guidance. The British House of Commons may vote for a third time on the Withdrawal Bill before Prime Minister May heads to the EU Summit to ask for an extension of the UK leavi… read more...

The Long And Winding Road

via: SeekingAlpha at 2019-03-16 20:42:37:000

[A Personal Note: Thanks to so many of you that reached out about my brother. Thanks to those of you that shared their personal stories with me. We lost Eric last Wednesday to cancer. He put up a brave fight. I can only hope, and pray, that he is off on his next adventure and that it is a wond… read more...

Europe Is Depleting It's Political Capital: Protect Your Financial Capital

via: SeekingAlpha at 2019-03-16 11:29:19:000

Greetings, dear readers. After a brief vacation, your humble author has returned with some musings about the future of the European economy, including the common currency. Europe has been in the news a great deal lately, and rarely for good reasons. From a potential hard Brexit&#x2… read more...

This Isn't The Way Stock Market Cycles Typically End

via: SeekingAlpha at 2019-03-15 01:17:38:000

By Dylan Ball, Head of European Equity Strategies, Executive Vice President, Templeton Global Equity Group European equities are the great unloved asset class. But Dylan Ball, head of European Equity Strategies, Templeton Global Equity Group, thinks that status means there should … read more...

The ECB Has Reached The End Of Its Rope, Leaving The Eurozone With Few Options

via: SeekingAlpha at 2019-03-14 01:47:01:000

Editor's note: This article was originally published on March 13, 2019 by Menzie Chinn here . Today, we are fortunate to present a guest contribution written by Ashoka Mody , Charles and Marie Visiting Professor in International Economic Policy, Woodrow Wilson School, Princeton Univ… read more...

The Queen Of Spades

via: SeekingAlpha at 2019-03-13 22:15:32:000

"Luck is believing you're lucky." - Tennessee Williams While enjoying a much-needed short break from blogging, hence our uncommon silence, we still managed to follow the macro news such as February's anemic 20,000 new jobs creation in the United States from the latest nonfarm payroll repor… read more...

European Central Bank Balks At Hiking Interest Rates Due To Weak Eurozone

via: SeekingAlpha at 2019-03-13 09:52:30:000

Background on the European Central Bank The European Central Bank ((ECB)) administers monetary policy for the eurozone, which consists of 19 European Union member states. During 2011, the previous ECB President Jean-Claude Triche raised interest rates twice - from 1% to 1.25% in April, and a… read more...

The Eurozone Is Slowing, And The ECB Isn't Prepared

via: SeekingAlpha at 2019-03-13 02:43:46:000

By Claudio Grass At the end of January, only a month after the official end of the QE program of the European Central Bank (ECB), its President Mario Draghi told the European Parliament's committee that the central bank could resume its bond purchasing, in a questionable effort to assuage … read more...

ECB: Buy The Rumour, Sell The News

via: SeekingAlpha at 2019-03-12 03:18:19:000

Despite the ECB's policy action on March 7, which pushed out the date of the first interest rate increase and confirmed a substantial package of targeted bank financing intended to ease credit conditions for the corporate sector, the market reaction was largely negative. Yet, a key part of our… read more...

Interest Rate Outlook: Fed Likely To Extend Its Pause Beyond Market Expectations

via: SeekingAlpha at 2019-03-10 08:03:22:000

By Rob Waldner, Chief Strategist and Head of Multi-Sector on Mar 8, 2019, in Fixed Income Invesco Fixed Income shares its views on rates around the world. US: Underweight Global interest rates are close to their recent lows, despite our view that growth risks are fading. In add… read more...

Interest Rate Outlook: Fed Likely To Extend Its Pause Beyond Market Expectations

via: SeekingAlpha at 2019-03-10 08:03:22:000

By Rob Waldner, Chief Strategist and Head of Multi-Sector on Mar 8, 2019, in Fixed Income Invesco Fixed Income shares its views on rates around the world. US: Underweight Global interest rates are close to their recent lows, despite our view that growth risks are fading. In add… read more...

February's U.S. Jobs Report: Cause For Concern?

via: SeekingAlpha at 2019-03-08 21:39:27:000

On the latest edition of Market Week in Review, filmed on International Women's Day, Senior Quantitative Investment Strategy Analyst Dr. Kara Ng, and Sophie Antal Gilbert, head of AIS business solutions, discussed the recent downward movements in U.S. equity markets. They also chatted abo… read more...

Fed Policy Vs. ECB Policy: A Comparison

via: SeekingAlpha at 2019-03-07 21:27:40:000

By Gunther Schnabl and Thomas Stratmann Ten years after the outbreak of the global financial crisis, banks in the euro area have not recovered. The Euro Stoxx Financials is only 40% above its March 2009 low, well below its pre-crisis level (Fig. 1). By contrast, the S&P Financials inde… read more...

EMU Looks To ECB

via: SeekingAlpha at 2019-03-07 01:32:47:000

Overview: The ECB meeting is today's highlight. A dovish signal is expected. The euro remains pinned near its lows ahead it. The global equity market rally in January and February is faltering this week. Asian equities were mixed, but the Nikkei eased for the third consecutive session. Altho… read more...

The Dollar Index Extends Gains Into The Sixth Consecutive Session

via: SeekingAlpha at 2019-03-06 02:38:16:000

Overview: The capital markets are on edge. The week's big events lie ahead. The Bank of Canada meets today and the ECB tomorrow, followed by US (and Canada) employment data on Friday. The equity markets are mixed. While Japan and Korean equities eased, China's markets continue their tear. Th… read more...

The European Union - Under The Microscope

via: SeekingAlpha at 2019-03-05 04:38:59:000

The EU is fast approaching several "breakpoints." While the situation has been going on for quite some time, with many people dismissing the importance of what is about to happen, I am not one of them. The markets are facing "Consequences" and they are firmly in front of us, at this point in t… read more...

Dollar Remains Firms As China Cuts Growth Target And Taxes, While EMU PMI Surprises On Upside

via: SeekingAlpha at 2019-03-05 04:35:18:000

Overview: It is an eventful day, but the capital markets are taking it in stride. Equity markets are mixed. Asia may have been weighed down by China's shaving its growth target and announced around CNY2 trillion (~$300 bln) in tax cuts to support the economy, though Chinese stocks edged high… read more...

The Looming U.K. Brexit Mess

via: SeekingAlpha at 2019-03-04 04:44:14:000

After the misguided referendum three years ago, the Brexit end-game is about to begin. In the UK, it means political division and fiscal erosion. Moreover, global growth prospects will not remain immune to turmoil in the worlds fifth largest economy. Initially, Londons goal w… read more...

What Happens To Europe When Germany's Economy Slows?

via: SeekingAlpha at 2019-03-02 00:16:26:000

By Claudio Grass Until recently, Germany has been the seemingly unbreakable workhorse that has pulled the European economy back from the brink and kept it ticking along through a myriad of internal and external pressures, as well as political crises, over the last decade. As the undeniable… read more...

What Happens To Europe When Germany's Economy Slows?

via: SeekingAlpha at 2019-03-02 00:16:26:000

By Claudio Grass Until recently, Germany has been the seemingly unbreakable workhorse that has pulled the European economy back from the brink and kept it ticking along through a myriad of internal and external pressures, as well as political crises, over the last decade. As the undeniable… read more...

Trump Walks Away From North Korea, Should Beijing Worry?

via: SeekingAlpha at 2019-02-28 07:35:31:000

Overview: News that the US-North Korean summit ended abruptly without an agreement spurred losses in equities and gains in the Swiss franc and Japanese yen. US President Trump willingness to walk away from the talks is important in and of itself, but it also sends a warning not to go all in … read more...

Trump Walks Away From North Korea, Should Beijing Worry?

via: SeekingAlpha at 2019-02-28 02:35:31:000

Overview: News that the US-North Korean summit ended abruptly without an agreement spurred losses in equities and gains in the Swiss franc and Japanese yen. US President Trump willingness to walk away from the talks is important in and of itself, but it also sends a warning not to go all in … read more...

Dollar Trades Heavily, While Prospects Of A Softer And Later Brexit Send The Sterling Higher

via: SeekingAlpha at 2019-02-27 07:21:13:000

Overview: As the North American session is about to begin, the markets await developments in the UK House of Commons where a vote is expected today on Prime Minister May's proposal to hold votes on around March 12 on the Withdrawal Bill and no deal. However, perceptions of a reduced likeliho… read more...

Dollar Thumped On Confirmation Of Tariff Delay While Stocks Advance

via: SeekingAlpha at 2019-02-25 06:57:14:000

Overview: The extension of the US-China tariff freeze had been telegraphed, but the confirmation is the single biggest driver of the day. Equities, led by a 5%+ advance in China, have rallied in Asia and Europe. Benchmark 10-year bond yields are mostly 1-2 basis points higher. Peripheral yie… read more...

Dollar Thumped On Confirmation Of Tariff Delay While Stocks Advance

via: SeekingAlpha at 2019-02-25 06:57:14:000

Overview: The extension of the US-China tariff freeze had been telegraphed, but the confirmation is the single biggest driver of the day. Equities, led by a 5%+ advance in China, have rallied in Asia and Europe. Benchmark 10-year bond yields are mostly 1-2 basis points higher. Peripheral yie… read more...

Europe Of Divergence: Euro And The Crisis Aftermath

via: SeekingAlpha at 2019-02-25 05:30:20:000

A promise of economic convergence was one of the core reasons behind the creation of the Euro. At no time in the Euro area history has this promise been more important than in the years following the series of the 2008-2013 crises, primarily because the crisis has significantly adversely impac… read more...

Europe Of Divergence: Euro And The Crisis Aftermath

via: SeekingAlpha at 2019-02-25 05:30:20:000

A promise of economic convergence was one of the core reasons behind the creation of the Euro. At no time in the Euro area history has this promise been more important than in the years following the series of the 2008-2013 crises, primarily because the crisis has significantly adversely impac… read more...

5 Reasons Europe Should Avoid Recession In 2019

via: SeekingAlpha at 2019-02-24 13:45:32:000

By Darren Williams The euro area faces another challenging year, but we see a continuation of recent soft growth as much more likely than recession. The European Central Bank ((ECB)) is, nonetheless, now likely to delay its first rate hike to 2020, and could also implement fresh credit-eas… read more...

Markets Ending Week With A Whimper

via: SeekingAlpha at 2019-02-22 08:15:15:000

Overview: The global capital markets are winding down what appears to be an inconclusive week quietly and on a mixed note. The MSCI Asia Pacific Index is poised to snap a four-day advance but held on to a nearly 2% gain for the week. European bourses are mostly higher, and although the weekl… read more...

Markets Ending Week With A Whimper

via: SeekingAlpha at 2019-02-22 08:15:15:000

Overview: The global capital markets are winding down what appears to be an inconclusive week quietly and on a mixed note. The MSCI Asia Pacific Index is poised to snap a four-day advance but held on to a nearly 2% gain for the week. European bourses are mostly higher, and although the weekl… read more...

The Case For Sustained Monetary Stimulus In Europe

via: SeekingAlpha at 2019-02-21 07:19:43:000

We expect the European Central Bank to keep rates on hold this year. Elga Bartsch explains why. We believe the European economy requires ongoing monetary policy support. Why? There was a marked slowdown in economic activity last year, and inflation remains subdued. Hence tighter fina… read more...

Investors Need Fresh Incentives

via: SeekingAlpha at 2019-02-19 09:42:59:000

Overview: Activity in the global capital markets is subdued as investors await fresh developments. New wording for the Irish backstop apparently is being drafted. US-China trade talks resume. No decision has been made on US auto tariffs, but European and Japanese officials seem to be playing… read more...

Investors Need Fresh Incentives

via: SeekingAlpha at 2019-02-19 09:42:59:000

Overview: Activity in the global capital markets is subdued as investors await fresh developments. New wording for the Irish backstop apparently is being drafted. US-China trade talks resume. No decision has been made on US auto tariffs, but European and Japanese officials seem to be playing… read more...

Theresa May's Brexit Is Going Ahead

via: SeekingAlpha at 2019-02-18 18:20:27:000

We told you a couple of years ago that Brexit wasn't going to happen . It's either damaging to the UK economy (in the form of a radical break or hard Brexit), or it is pointless (a soft Brexit with the UK remaining in the customs union) as the UK will still have to follow the rules (without b… read more...

Hitting The Walls In Europe

via: SeekingAlpha at 2019-02-18 00:26:54:000

There are several upcoming events where Europe is going to be hitting the walls with who knows what exact results. Don't be so foolish to think that just because it is a Continent away that these events will not affect the global bond and equity markets. They will. The American markets will al… read more...

Fade The Strong Euro Consensus

via: SeekingAlpha at 2019-02-16 14:18:44:000

By Jeff Weniger, CFA You wouldn't know it from the stock market's gut-wrenching fourth-quarter decline and 2019's snapback, but the euro has been downright sleepy. Be careful because that can change quickly. EUR/USD touched a recent low of $1.128 in November and has been moving in a 3-… read more...

Fade The Strong Euro Consensus

via: SeekingAlpha at 2019-02-16 14:18:44:000

By Jeff Weniger, CFA You wouldn't know it from the stock market's gut-wrenching fourth-quarter decline and 2019's snapback, but the euro has been downright sleepy. Be careful because that can change quickly. EUR/USD touched a recent low of $1.128 in November and has been moving in a 3-… read more...

U.S. Vs. Eurozone Comparisons

via: SeekingAlpha at 2019-02-16 05:18:33:000

Here are four charts that look at key aspects of the US and Eurozone economies: swap spreads, industrial production, equity prices, and exchange rates. By now everyone knows that the Eurozone has its problems, especially with the UK's bumbling attempt to exit the Eurozone trade agreement, Fran… read more...

U.S. Vs. Eurozone Comparisons

via: SeekingAlpha at 2019-02-16 05:18:33:000

Here are four charts that look at key aspects of the US and Eurozone economies: swap spreads, industrial production, equity prices, and exchange rates. By now everyone knows that the Eurozone has its problems, especially with the UK's bumbling attempt to exit the Eurozone trade agreement, Fran… read more...

Italy Headed For 'Vicious' Debt Crisis

via: SeekingAlpha at 2019-02-14 03:25:52:000

Government actions eroding investor trust After the briefest and weakest of economic recoveries, Italy has succumbed to its third recession in a decade. This risks further undermining Italian support for the euro, particularly considering that Italian living standards today are below those… read more...

Italy Headed For 'Vicious' Debt Crisis

via: SeekingAlpha at 2019-02-14 03:25:52:000

Government actions eroding investor trust After the briefest and weakest of economic recoveries, Italy has succumbed to its third recession in a decade. This risks further undermining Italian support for the euro, particularly considering that Italian living standards today are below those… read more...

Will 2019 Be The Year Of Small Caps (In Europe)?

via: SeekingAlpha at 2019-02-13 10:56:15:000

By Christopher Gannatti, CFA, Head of Research, Europe I admit it - I was stunned by January's turnaround in market performance. It seemed logical to consider a more defensive approach. And if someone had asked me if it was appropriate to over-weight small-cap equities, I wouldn't have h… read more...

Is European Recession Underway? Not Yet, But Growth Is Slowing

via: SeekingAlpha at 2019-02-13 06:05:42:000

Original Post By Stuart Burns Everything in the garden may look rosy from the U.S., but there is no doubt that the global economy is slowing. Recent data from Germany suggests the engine of the European Union is suffering as much as anyone. A Telegraph article last week examines… read more...

Eurozone Weakness Expands

via: SeekingAlpha at 2019-02-13 05:46:41:000

By Landon Whaley European Central Bank ((ECB)) President Mario Draghi's Dilemma was one of our most profitable macro themes during 2018. The combo platter of a continued deterioration in growth data alongside a massive policy mistake by the ECB is providing us with even more opportunity … read more...

5 'Swords Of Damocles' Hang Over Markets

via: SeekingAlpha at 2019-02-13 03:35:42:000

Weekly Market Compass: Several critical deadlines are fast approaching By Kristina Hooper, Chief Global Market Strategist in Market & Economic In Greek mythology, the "sword of Damocles" is a powerful morality tale. King Dionysius is a leader who grows weary of a young sy… read more...

Dollar Buying Pressure Subsides

via: SeekingAlpha at 2019-02-12 07:05:50:000

Overview: The Dollar Index's eight-day advance is in jeopardy. Although the greenback recorded new highs against some major currencies, the momentum appears to be stalling. The news stream is constructive as a compromise seems to have been reached to avoid another US government shutdown, and… read more...

The Absurdity Known As 'TARGET2'

via: SeekingAlpha at 2019-02-12 01:33:09:000

Editor's note: Originally published at tsi-blog.com on February 4, 2019 [This blog post is an excerpt from a commentary posted at TSI about three weeks ago.] TARGET2 is the system set up in the eurozone to clear inter-bank payments. The Bundesbank (Germany's central bank) describes i… read more...

Will Brexit, Break It?

via: SeekingAlpha at 2019-02-11 16:10:49:000

Here is the latest economic news from Great Britain , and it is not that great. The Office for National Statistics said Monday that the U.K.s gross domestic productthe broadest measure of goods and services produced in the economywas 1.4% hig… read more...

Is The Eurozone Heading For A Recession?

via: SeekingAlpha at 2019-02-10 14:12:44:000

Back down with a bump Driven initially by a slowdown in exports, eurozone growth weakened markedly through 2018, culminating in a 1.2% y/y increase in GDP in Q4, the weakest pace of expansion in almost five years. IHS Markit's composite PMI suggests the underlying weakness will continue. T… read more...

Little Resolution In The Week Ahead

via: SeekingAlpha at 2019-02-10 10:05:29:000

According to legend, the person who unraveled the Gordian Knot would rule the world. No one succeeded until Alexander the Great took his mighty sword and sliced the knot in half. A young boy saw him afterward, crying on the steps of the Temple of Apollo. "Why are you crying?" the boy asked, "y… read more...

Europe: From Great Challenges Come Great Investment Opportunities

via: SeekingAlpha at 2019-02-09 14:54:23:000

By Christopher Gannatti, CFA Lately, it has seemed easy to find reasons to avoid investing in European assets: There have been many important dates in the Brexit process. The dates seem to come and go, and no one has any clarity on exactly what will happen. Last year, a populist go… read more...

Tight Money Gets Tighter

via: SeekingAlpha at 2019-02-09 10:38:13:000

They staked everything on inflation. In truth, central bankers had no other choice. Having backed themselves into such a narrow corner by doing the same thing over and over and over again, it was only going to be one or the other. Either it worked or for all time they would prove they really h… read more...

The ECB Prepares A Reaction To The Unexpectedly Permanent, Expected Temporary Slowdown

via: SeekingAlpha at 2019-02-09 04:39:42:000

The Eurozone Doomsday Clock seems to be permanently stuck at five minutes to Midnight. Whilst the ECB procrastinate about the normalization, in preparation for the next monetary policy expansion, the IMF is swiftly nudging perceptions towards what comes next. This brave new world must fi… read more...

Dollar's Gains Extended

via: SeekingAlpha at 2019-02-07 07:00:25:000

Overview: The five-day advance of the S&P 500 stalled yesterday and global equities are mixed today. Most Asian centers remain closed, Japan and some small markets were lower, while Taiwan, Australia, and India moved higher. The seven-day rally in Europe's Dow Jones Stoxx 600 is under th… read more...

Dollar's Gains Extended

via: SeekingAlpha at 2019-02-07 07:00:25:000

Overview: The five-day advance of the S&P 500 stalled yesterday and global equities are mixed today. Most Asian centers remain closed, Japan and some small markets were lower, while Taiwan, Australia, and India moved higher. The seven-day rally in Europe's Dow Jones Stoxx 600 is under th… read more...

Global Recession Risks Right Now

via: SeekingAlpha at 2019-02-07 04:53:22:000

Germany is a tough one to get around. Argentina falls into a bad recession, you can get by believing that's not particularly unusual or interesting. If its neighbor Brazil becomes shaky, you can still chalk it up to EM volatility. Italy is Europe's perpetual basket case. China's a little more … read more...

Global Recession Risks Right Now

via: SeekingAlpha at 2019-02-07 04:53:22:000

Germany is a tough one to get around. Argentina falls into a bad recession, you can get by believing that's not particularly unusual or interesting. If its neighbor Brazil becomes shaky, you can still chalk it up to EM volatility. Italy is Europe's perpetual basket case. China's a little more … read more...

European Uncertainty Has Lowered The Price Tag For Quality Stocks

via: SeekingAlpha at 2019-02-07 02:51:00:000

Fourth-quarter volatility expanded the opportunity set for those looking for a deal By Mark McDonnell, CFA , Senior Equities Analyst in Equities The fourth quarter of 2018 was tough on investors in European equities, and uncertainty appears to be rising as we enter … read more...

European Uncertainty Has Lowered The Price Tag For Quality Stocks

via: SeekingAlpha at 2019-02-07 02:51:00:000

Fourth-quarter volatility expanded the opportunity set for those looking for a deal By Mark McDonnell, CFA , Senior Equities Analyst in Equities The fourth quarter of 2018 was tough on investors in European equities, and uncertainty appears to be rising as we enter … read more...

Will The China Bulls Turn Out For The Year Of The Pig?

via: SeekingAlpha at 2019-02-07 02:19:37:000

Happy Year of the Pig! This week marks the start of Chinas Spring Festival, during which an estimated 3 billion trips will be made using the countrys massive transportation network of roads and rail. That figure is a slight rise from the same period last year, despite slowing e… read more...

Will The China Bulls Turn Out For The Year Of The Pig?

via: SeekingAlpha at 2019-02-07 02:19:37:000

Happy Year of the Pig! This week marks the start of Chinas Spring Festival, during which an estimated 3 billion trips will be made using the countrys massive transportation network of roads and rail. That figure is a slight rise from the same period last year, despite slowing e… read more...

The Myth Of The Euro: Economic Convergence

via: SeekingAlpha at 2019-02-07 01:59:08:000

The last eight years of euro's 20 years in existence have been a disaster for the thesis of economic convergence - the idea that the common currency is a necessary condition for delivering economic growth to the 'peripheral' euro area economies in the need of 'convergence' with the more advanc… read more...

The Myth Of The Euro: Economic Convergence

via: SeekingAlpha at 2019-02-07 01:59:08:000

The last eight years of euro's 20 years in existence have been a disaster for the thesis of economic convergence - the idea that the common currency is a necessary condition for delivering economic growth to the 'peripheral' euro area economies in the need of 'convergence' with the more advanc… read more...

Dollar Gains By Default

via: SeekingAlpha at 2019-02-06 08:07:53:000

Overview: The rally in equities is threatening to pause today, even though the few markets open in Asia edged higher. Europe's Dow Jones Stoxx 600, which has advanced in eight of the past ten sessions and six in a row, is seeing some profit-taking pressures. US shares are also trading heavie… read more...

Greenback Remains Firm

via: SeekingAlpha at 2019-02-05 07:18:58:000

Overview: The US dollar is a little firmer against most of the major currencies. Despite some disappointing data (retail sales, trade, PMI), the Australian dollar has recovered from initial losses below $0.7200 on the back of the central bank's reluctance to adopt an easing bias. A small upw… read more...

Subdued Start To Quiet Week

via: SeekingAlpha at 2019-02-04 06:59:47:000

Overview: The Lunar New Year celebration made for a quiet Asian session while a light diary in Europe saw subdued turnover. Equity markets are narrowly mixed. Among the three large markets open in Asia Pacific, Australia and Japanese equities rose while India slipped. European bourses are li… read more...

Which Investment Themes Matter Most For 2019?

via: SeekingAlpha at 2019-02-03 11:46:40:000

By Ben Lofthouse, John Bennett and John Pattullo Co-Head of Strategic Fixed Income John Pattullo, Director of European Equities John Bennett and Head of Global Equity Income Ben Lofthouse discuss lessons learned from 2018 and what they expect from the coming year in our latest podcast. In… read more...

European Central Bank Dilemma Reflects The Problems Europe Is Facing

via: SeekingAlpha at 2019-02-02 09:12:35:000

Growth in the eurozone is decreasing. Consequently, the European Central Bank, under the leadership of its president, Mario Draghi, which just ended its multi-year effort at quantitative easing, is concerned about moving to a more restrictive stance. Mr. Draghi "has signaled that the bank … read more...

It's Not That There Might Be One, It's That There Might Be Another One

via: SeekingAlpha at 2019-01-31 02:36:57:000

It was a tense exchange. When even politicians can sense that there's trouble brewing, there really is trouble brewing. Typically the last to figure these things out, if parliamentarians are up in arms it already isn't good, to put it mildly. Well, not quite the last to know, there are always … read more...

It's Not That There Might Be One, It's That There Might Be Another One

via: SeekingAlpha at 2019-01-31 02:36:57:000

It was a tense exchange. When even politicians can sense that there's trouble brewing, there really is trouble brewing. Typically the last to figure these things out, if parliamentarians are up in arms it already isn't good, to put it mildly. Well, not quite the last to know, there are always … read more...

Brexit Becomes Official In 8 Weeks. It Becomes Certain In 2 Or 1

via: SeekingAlpha at 2019-01-30 19:45:31:000

Recently, I wrote an article describing my views that Brexit is growing increasingly likely, rather than unlikely, by simple virtue of the fact that it is already current law, and attempts to repeal it have failed. Contributor Peter Cooper responded with an emphatic assertion that whatev… read more...

Brexit Becomes Official In 8 Weeks. It Becomes Certain In 2 Or 1

via: SeekingAlpha at 2019-01-30 19:45:31:000

Recently, I wrote an article describing my views that Brexit is growing increasingly likely, rather than unlikely, by simple virtue of the fact that it is already current law, and attempts to repeal it have failed. Contributor Peter Cooper responded with an emphatic assertion that whatev… read more...

European Bonds Are Again Flashing Red

via: SeekingAlpha at 2019-01-30 01:30:03:000

As the soft (EU-deal) Brexit or hard (no deal) Brexit deadline approaches at the end of March, one has to keep an eye on the euro and major European bond markets, since Brexit, by definition, has weakened the core of the European Union and the eurozone, even though technically Britain is not … read more...

An Opportunity In European Credit

via: SeekingAlpha at 2019-01-29 06:27:29:000

European corporate bonds sold off late last year amid a broad risk-off environment. Most risk assets have recovered since. One of the surprising exceptions: BBB-rated European debt. We now see compelling relative value in this segment of the European credit market, though we maintain our neutr… read more...

ECB Fiddles As Eurozone Turns

via: SeekingAlpha at 2019-01-29 05:53:25:000

Compared to US Fed, ECB seems flat-footed as growth slows During the recent period of market volatility the US Fed has in our view successfully re-positioned itself on the dovish end of expectations, both in terms of interest rate and more recently balance sheet policy. The ECB in comparis… read more...

European Growth Concerns Deepen

via: SeekingAlpha at 2019-01-29 05:30:26:000

By Bill Witherell, Ph.D. The latest economic indicators reveal that the economic slowdown in Europe persists. President Draghi of the European Central Bank (ECB) has underlined the continued weakness, expectations for softer near-term growth and downside risks. The International Monetary F… read more...

ECB Sees Downside Risks As PMI Shows Eurozone Close To Stalling

via: SeekingAlpha at 2019-01-27 12:34:52:000

The release of disappointing flash Eurozone PMI data on the same day that the European Central Bank's Governing Council acknowledged that downside risks now prevail has focused minds on the health of the euro area economy. The new debate centres on how entrenched the recent slowdown is, and in… read more...

ECB Sees Downside Risks As PMI Shows Eurozone Close To Stalling

via: SeekingAlpha at 2019-01-27 12:34:52:000

The release of disappointing flash Eurozone PMI data on the same day that the European Central Bank's Governing Council acknowledged that downside risks now prevail has focused minds on the health of the euro area economy. The new debate centres on how entrenched the recent slowdown is, and in… read more...

The Basis Behind The Forming ECB 'Pause'

via: SeekingAlpha at 2019-01-26 08:18:43:000

These things are all related, not that they are in any way connected by conventional thoughts on the subject of the global economy. Two European officials are now on record hinting at an ECB "pause." There is one already underway in the US, Federal Reserve officials past and present debating… read more...

Delaying The ECB's Liftoff

via: SeekingAlpha at 2019-01-26 05:30:27:000

In his first press conference of 2019, European Central Bank ((ECB)) President Mario Draghi said risks surrounding the eurozone growth outlook have shifted to the " downside " versus the " broadly balanced " risks he discussed just one month ago when the bank ended net asset purchases. P… read more...

Will A European Slowdown Lead To Parity With The Dollar?

via: SeekingAlpha at 2019-01-26 02:40:36:000

The global slowdown appears to be hitting the Euro-area with the most force, sending some large countries such as Germany quickly towards a recession (if not in one already). All of this comes just as the ECB put an end to their bond-buying program which will certainly fuel those who… read more...

International Stocks Are Cheap. Should You Overweight Them?

via: SeekingAlpha at 2019-01-26 02:36:30:000

Ever since the Great Recession in 2008 (technically even before that), the US stock market has traded at a premium to most other markets (See the chart below courtesy of Yardeni Research ). For years, we've seen investors pointing this fact out and predicting higher returns for international … read more...

ECB maintains key interest rates as expected

via: SeekingAlpha at 2019-01-24 08:12:00:000

The European Central Bank decides to keep key interest rates unchanged in its first monetary policy meeting of the year, as it had said it would. More news on: Invesco CurrencyShares Euro Trust ETF, Vanguard FTSE Europe ETF, ProShares UltraShort Euro ETF, Global news and forex, Financial… read more...

ECB maintains key interest rates as expected

via: SeekingAlpha at 2019-01-24 08:12:00:000

The European Central Bank decides to keep key interest rates unchanged in its first monetary policy meeting of the year, as it had said it would. More news on: Invesco CurrencyShares Euro Trust ETF, Vanguard FTSE Europe ETF, ProShares UltraShort Euro ETF, Global news and forex, Financial… read more...

ECB Forecasting Is A Joke

via: SeekingAlpha at 2019-01-21 06:48:31:000

Over at Bruegel, Zsolt Darvas takes the ECB to task for systematic forecasting errors in the last five years. He shows that the ECB has persistently overestimated inflation and unemployment, and on this basis, he questions the ECB's decision to end QE in December 2018. I share his concern th… read more...

ECB Forecasting Is A Joke

via: SeekingAlpha at 2019-01-21 06:48:31:000

Over at Bruegel, Zsolt Darvas takes the ECB to task for systematic forecasting errors in the last five years. He shows that the ECB has persistently overestimated inflation and unemployment, and on this basis, he questions the ECB's decision to end QE in December 2018. I share his concern th… read more...

ECB Forecasting Is A Joke

via: SeekingAlpha at 2019-01-21 06:48:31:000

Over at Bruegel, Zsolt Darvas takes the ECB to task for systematic forecasting errors in the last five years. He shows that the ECB has persistently overestimated inflation and unemployment, and on this basis, he questions the ECB's decision to end QE in December 2018. I share his concern th… read more...

'Catastrophe' Bonds That Bind: A Post-Brexit 'Consolidated' Eurozone Asset Class

via: SeekingAlpha at 2019-01-20 13:02:29:000

As "patience" is the buzzword in America, "catastrophe" is the buzzword in the Eurozone. Both words may be self-inflicted by the respective central banks. The Fed's self-harming was done at the December 19th FOMC. The ECB's latest wounds were inflicted recently. The last report present… read more...

Eurozone Flash PMI To Provide ECB Policy Guidance At Start Of 2019

via: SeekingAlpha at 2019-01-20 07:46:21:000

Next week sees the release of flash Eurozone PMI data on the same day that the European Central Bank's Governing Council meets to decide on monetary policy. The policy meeting and data will be eyed for insights into whether the recent deterioration in performance of the eurozone economy has pe… read more...

Brexit Is Far From Dead: Good Or Bad For Equities?

via: SeekingAlpha at 2019-01-17 13:34:03:000

Recently, Contributor Peter Cooper has further opined on the impact of a canceled Brexit on Britain ( EWU ) and its stock market. In general, I agree with much of Mr. Cooper's analysis. But because I disagree with one particular facet of it, my final conclusion is almost exactly contrary t… read more...

Brexit Is Far From Dead: Good Or Bad For Equities?

via: SeekingAlpha at 2019-01-17 13:34:03:000

Recently, Contributor Peter Cooper has further opined on the impact of a canceled Brexit on Britain ( EWU ) and its stock market. In general, I agree with much of Mr. Cooper's analysis. But because I disagree with one particular facet of it, my final conclusion is almost exactly contrary t… read more...

Brexit Is Far From Dead: Good Or Bad For Equities?

via: SeekingAlpha at 2019-01-17 13:34:03:000

Recently, Contributor Peter Cooper has further opined on the impact of a canceled Brexit on Britain ( EWU ) and its stock market. In general, I agree with much of Mr. Cooper's analysis. But because I disagree with one particular facet of it, my final conclusion is almost exactly contrary t… read more...

That's A Big Minus

via: SeekingAlpha at 2019-01-16 04:31:01:000

Goods require money to finance both their production as well as their movements. They need oil and energy for the same reasons. If oil and money markets were drastically awful for a few months before December, and then purely chaotic during December, Mario Draghi of all people should've been p… read more...

It's Time To Worry About The EU

via: SeekingAlpha at 2019-01-14 15:13:12:000

Recent GDP from the EU and industrial production data from Germany, France, and Italy indicates we should begin to be very concerned about the status of the region's economy. Let's begin with GDP, which has decelerated over the last four quarters: The Y/Y percentage change (bottom panel) h… read more...

It's Time To Worry About The EU

via: SeekingAlpha at 2019-01-14 15:13:12:000

Recent GDP from the EU and industrial production data from Germany, France, and Italy indicates we should begin to be very concerned about the status of the region's economy. Let's begin with GDP, which has decelerated over the last four quarters: The Y/Y percentage change (bottom panel) h… read more...

It's A Supply Side World In Europe As Well As In The United States

via: SeekingAlpha at 2019-01-14 09:31:08:000

In the past couple of years, when I have been writing about the United States economy, I have emphasized my belief that the supply side of the economy was dominating markets and demand side government economic policies would do very little in the way of producing greater economic output. Thr… read more...

It's A Supply Side World In Europe As Well As In The United States

via: SeekingAlpha at 2019-01-14 09:31:08:000

In the past couple of years, when I have been writing about the United States economy, I have emphasized my belief that the supply side of the economy was dominating markets and demand side government economic policies would do very little in the way of producing greater economic output. Thr… read more...

Europe Moves To The Center Ring

via: SeekingAlpha at 2019-01-13 08:07:16:000

In recent weeks, the macro story focused on the shifting outlook for Fed policy and the Sino-American trade relationship. There is unlikely to be further progress on either issue in the week ahead. The Fed won't raise interest rates until toward the middle of the year at the earliest. The go… read more...

The Tragedy Of The Euro

via: SeekingAlpha at 2019-01-11 01:34:12:000

After two decades, the euro's minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB's monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The consequence will be a new cycle of sharply risi… read more...

The Tragedy Of The Euro

via: SeekingAlpha at 2019-01-11 01:34:12:000

After two decades, the euro's minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB's monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The consequence will be a new cycle of sharply risi… read more...

Candide Jaune: A Whodunit By Mario Draghi

via: SeekingAlpha at 2019-01-08 03:02:48:000

Instead of celebrating yet another Eurozone milestone, the ECB and European Project managers prepared for the next milestone. They did so by following the traditional strategy of creating a crisis for which they have the solution. Also as usual Useful Idiots , this time wearing Yellow Jackets… read more...

Candide Jaune: A Whodunit By Mario Draghi

via: SeekingAlpha at 2019-01-08 03:02:48:000

Instead of celebrating yet another Eurozone milestone, the ECB and European Project managers prepared for the next milestone. They did so by following the traditional strategy of creating a crisis for which they have the solution. Also as usual Useful Idiots , this time wearing Yellow Jackets… read more...

Candide Jaune: A Whodunit By Mario Draghi

via: SeekingAlpha at 2019-01-08 03:02:48:000

Instead of celebrating yet another Eurozone milestone, the ECB and European Project managers prepared for the next milestone. They did so by following the traditional strategy of creating a crisis for which they have the solution. Also as usual Useful Idiots , this time wearing Yellow Jackets… read more...

Mr. Draghi's Santa: Ending QE, Frankfurt Style

via: SeekingAlpha at 2018-12-28 12:41:31:000

It's Christmas time, and - Merry/Happy Christmas to all reading the blog - Mr. Draghi's intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks: The ECB balance sheet has just hit a new high of 42% of eurozone GDP, up from 39.7% at the end of 3Q 2018. Although the ECB ... read more...

Mr. Draghi's Santa: Ending QE, Frankfurt Style

via: SeekingAlpha at 2018-12-28 12:41:31:000

It's Christmas time, and - Merry/Happy Christmas to all reading the blog - Mr. Draghi's intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks: The ECB balance sheet has just hit a new high of 42% of eurozone GDP, up from 39.7% at the end of 3Q 2018. Although the ECB ... read more...

Mr. Draghi's Santa: Ending QE, Frankfurt Style

via: SeekingAlpha at 2018-12-28 12:41:31:000

It's Christmas time, and - Merry/Happy Christmas to all reading the blog - Mr. Draghi's intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks: The ECB balance sheet has just hit a new high of 42% of eurozone GDP, up from 39.7% at the end of 3Q 2018. Although the ECB ... read more...

Mr. Draghi's Santa: Ending QE, Frankfurt Style

via: SeekingAlpha at 2018-12-28 12:41:31:000

It's Christmas time, and - Merry/Happy Christmas to all reading the blog - Mr. Draghi's intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks: The ECB balance sheet has just hit a new high of 42% of eurozone GDP, up from 39.7% at the end of 3Q 2018. Although the ECB ... read more...

Mr. Draghi's Santa: Ending QE, Frankfurt Style

via: SeekingAlpha at 2018-12-28 12:41:31:000

It's Christmas time, and - Merry/Happy Christmas to all reading the blog - Mr. Draghi's intent on delivering a handful of new presents for the kids. Ho-Ho-Ho… folks: The ECB balance sheet has just hit a new high of 42% of eurozone GDP, up from 39.7% at the end of 3Q 2018. Although the ECB ... read more...

The ECB's Quantitative Easing Was A Failure, Here Is What It Actually Did

via: SeekingAlpha at 2018-12-28 03:27:10:000

By Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone's problem. That the European problem was a demand and liquidity issue, not due to years of excess. The ECB had been receiving tremendous pressure… read more...

The ECB's Quantitative Easing Was A Failure, Here Is What It Actually Did

via: SeekingAlpha at 2018-12-28 03:27:10:000

By Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone's problem. That the European problem was a demand and liquidity issue, not due to years of excess. The ECB had been receiving tremendous pressure… read more...

The ECB's Quantitative Easing Was A Failure, Here Is What It Actually Did

via: SeekingAlpha at 2018-12-28 03:27:10:000

By Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone's problem. That the European problem was a demand and liquidity issue, not due to years of excess. The ECB had been receiving tremendous pressure… read more...

The ECB's Quantitative Easing Was A Failure, Here Is What It Actually Did

via: SeekingAlpha at 2018-12-28 03:27:10:000

By Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone's problem. That the European problem was a demand and liquidity issue, not due to years of excess. The ECB had been receiving tremendous pressure… read more...

The ECB's Quantitative Easing Was A Failure, Here Is What It Actually Did

via: SeekingAlpha at 2018-12-28 03:27:10:000

By Daniel Lacalle The main reason why the ECB quantitative easing program has failed is that it started from a wrong diagnosis of the eurozone's problem. That the European problem was a demand and liquidity issue, not due to years of excess. The ECB had been receiving tremendous pressure… read more...

Eurozone Flash PMI Hits Lowest Point In Over 4 Years In December

via: SeekingAlpha at 2018-12-19 02:15:33:000

Just one day after the European Central Bank announced an end to its quantitative easing programme, the latest flash PMI survey data indicated the slowest rate of Eurozone business growth in over four years, highlighting increased downside risks the economy. The headline IHS Markit Eurozone … read more...

Eurozone Flash PMI Hits Lowest Point In Over 4 Years In December

via: SeekingAlpha at 2018-12-19 02:15:33:000

Just one day after the European Central Bank announced an end to its quantitative easing programme, the latest flash PMI survey data indicated the slowest rate of Eurozone business growth in over four years, highlighting increased downside risks the economy. The headline IHS Markit Eurozone … read more...

Eurozone Flash PMI Hits Lowest Point In Over 4 Years In December

via: SeekingAlpha at 2018-12-19 02:15:33:000

Just one day after the European Central Bank announced an end to its quantitative easing programme, the latest flash PMI survey data indicated the slowest rate of Eurozone business growth in over four years, highlighting increased downside risks the economy. The headline IHS Markit Eurozone … read more...

Stock Rout Deepens, Casts Shadow Over Holiday Spirit

via: SeekingAlpha at 2018-12-18 10:01:55:000

Overview: The 2% slide in the S&P 500 to new lows for the year yesterday hit Asian and European equities today. Bond yields are lower, and the dollar is softer against most major currencies. The dramatic equity losses and some disappointing data sparked doubts about the ability of the Fe… read more...

Eurozone: A Bumpy Ride Ahead

via: SeekingAlpha at 2018-12-17 10:04:34:000

Editor's note: Seeking Alpha is proud to welcome Alfonso Ricciardelli as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more The … read more...

Just In Time For The Circus

via: SeekingAlpha at 2018-12-15 08:58:45:000

Just in time to follow closely upon yesterday's European circus, IHS Markit piles on with more of the same forward-looking indications looking forward the wrong way. Mario Draghi says the ECB is ending QE, good for him. The central bank will do this despite balanced risks rebalancing in a diff… read more...

Just In Time For The Circus

via: SeekingAlpha at 2018-12-15 08:58:45:000

Just in time to follow closely upon yesterday's European circus, IHS Markit piles on with more of the same forward-looking indications looking forward the wrong way. Mario Draghi says the ECB is ending QE, good for him. The central bank will do this despite balanced risks rebalancing in a diff… read more...

Longer?Term Risks Complicate ECB's Policy Path: Beware The Pillars Of Hercules

via: SeekingAlpha at 2018-12-15 08:00:31:000

In his last press conference for 2018, European Central Bank ((ECB)) President Mario Draghi confirmed plans to stop net asset purchases at the end of the month and to reinvest principal from maturing bonds on its balance sheet. He also acknowledged the balance of risks to the ECB's growth ou… read more...

Longer?Term Risks Complicate ECB's Policy Path: Beware The Pillars Of Hercules

via: SeekingAlpha at 2018-12-15 08:00:31:000

In his last press conference for 2018, European Central Bank ((ECB)) President Mario Draghi confirmed plans to stop net asset purchases at the end of the month and to reinvest principal from maturing bonds on its balance sheet. He also acknowledged the balance of risks to the ECB's growth ou… read more...

Sensible European Populism

via: SeekingAlpha at 2018-12-15 07:33:44:000

Europe's financial markets are already in considerable retreat and so is the economic growth outlook, here is City AM : "The yellow vest protests in France and ongoing weak car demand exacerbated a widespread economic slowdown, IHS Markits purchasing managers&#x2019… read more...

Sensible European Populism

via: SeekingAlpha at 2018-12-15 07:33:44:000

Europe's financial markets are already in considerable retreat and so is the economic growth outlook, here is City AM : "The yellow vest protests in France and ongoing weak car demand exacerbated a widespread economic slowdown, IHS Markits purchasing managers&#x2019… read more...

Debt Bombs Ticking Across The Globe

via: SeekingAlpha at 2018-12-14 10:16:38:000

There are times when writing from the macro perspective can be challenging, particularly when macro takes a backseat as it is prone to do during parts of the business cycle. This year macro is back with a bang. JPMorgan recently assessed the chance of a recession in 2019 has risen to 35% f… read more...

Short And Sharp: Geopolitics Worry Me, The Economy Less So

via: SeekingAlpha at 2018-12-14 05:34:02:000

By Seema Shah, Global Investment Strategist, Principal Global Investors With so much to worry about, its little surprise that risk assets have sold off sharply in the past two months. Global markets are confronted by a host of geopolitical concerns, not to mention (misplaced) rec… read more...

Has The Well Run Dry? EU Turns Off QE Tap

via: SeekingAlpha at 2018-12-13 00:49:18:000

Read more … read more...

'Paris' Technocrats Face Another Drop

via: SeekingAlpha at 2018-12-12 06:42:18:000

How quickly things change. Only a few days ago, a fuel tax in France was blamed for widespread rioting. Today, Emmanuel Macron's government under siege threatens to break its fiscal budget. Having given up on gasoline and diesel, the French government now promises wage increases and tax cuts. … read more...

Europe Struggles As The ECB Pretends To Know What They're Doing

via: SeekingAlpha at 2018-12-10 13:21:16:000

By Carmen Elena Dorob The European Central Bank (ECB) is rumored to be planning a halt to its four-year quantitative easing program at the end of this week when it will stop its asset purchases while continuing to keep interest rates at current near-zero levels through 2019… read more...

Dow down 2% as stocks add to losses

via: SeekingAlpha at 2018-12-10 11:17:25:000

A bit less than two hours into the session, modest early selling has ramped up, with the Dow down 2% , the S&P 1.75% , and Nasdaq 1.1% . More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, Top sto… read more...

Eurozone Productivity Slips At Quickest Rate In 5-And-A-Half Years As Efficiency Loss In Manufacturing Intensifies

via: SeekingAlpha at 2018-12-10 09:08:06:000

November data pointed to a third successive month of efficiency loss across the eurozone. Manufacturing was the main drag on productivity, posting the sharpest drop in close to six-and-a-half years, as goods producers in France joined their counterparts in Germany and Italy in contraction. Acr… read more...

Lack Of Closure Weighs On Sentiment

via: SeekingAlpha at 2018-12-10 07:12:49:000

Overview: Investor angst over trade tensions and Brexit continues to remain elevated, and poor Chinese and Japanese economic news played on global growth fears. Equities continue to slog lower. Bond yields are little changed, and the dollar is lower against most of the major currencies. Amon… read more...

The Week Ahead: Don't Skip Steps On Escalation Ladders

via: SeekingAlpha at 2018-12-09 09:06:06:000

The drop in US yields and disappointing economic data weighed on sentiment and the dollar last week. Even weakness in equities, which had seemed to lend the greenback support, failed to do so at the end of last week. With the real fed funds rate (adjusted for inflation) below zero, employm… read more...

A Couple More Events Before Seeing The End Of Difficult Week For Investors

via: SeekingAlpha at 2018-12-07 07:40:41:000

Overview: Global equities have stabilized after US equities recovered yesterday, with the NASDAQ 100 staging its biggest reversal in eight months and the S&P 500 recouping almost three percent to close 0.15% lower. Asia Pacific equities were mostly higher. Hong Kong shares, including t… read more...

A Couple More Events Before Seeing The End Of Difficult Week For Investors

via: SeekingAlpha at 2018-12-07 07:40:41:000

Overview: Global equities have stabilized after US equities recovered yesterday, with the NASDAQ 100 staging its biggest reversal in eight months and the S&P 500 recouping almost three percent to close 0.15% lower. Asia Pacific equities were mostly higher. Hong Kong shares, including t… read more...

A Global Dearth Of Liquidity

via: SeekingAlpha at 2018-12-07 02:31:29:000

By Pater Tenebrarum Worldwide Liquidity Drought - Money Supply Growth Slows Everywhere This is a brief update on money supply growth trends in the most important currency areas outside the US (namely the euro area, Japan and China) as announced in our recent update on US money supply g… read more...

A Global Dearth Of Liquidity

via: SeekingAlpha at 2018-12-07 02:31:29:000

By Pater Tenebrarum Worldwide Liquidity Drought - Money Supply Growth Slows Everywhere This is a brief update on money supply growth trends in the most important currency areas outside the US (namely the euro area, Japan and China) as announced in our recent update on US money supply g… read more...

Eurozone: It's The End Of QE As We Know It...

via: SeekingAlpha at 2018-12-06 22:06:00:000

By Carsten Brzeski , Chief Economist ING Germany The ECB meeting next week will not only be the last meeting of the year but will also be a historic meeting. It should mark an important step in returning monetary policy to normality. Only, hardly anyone seems to be interested. Thanks to … read more...

Eurozone: It's The End Of QE As We Know It...

via: SeekingAlpha at 2018-12-06 22:06:00:000

By Carsten Brzeski , Chief Economist ING Germany The ECB meeting next week will not only be the last meeting of the year but will also be a historic meeting. It should mark an important step in returning monetary policy to normality. Only, hardly anyone seems to be interested. Thanks to … read more...

Europe off more than 3% at the close

via: SeekingAlpha at 2018-12-06 11:56:18:000

European markets closed pretty close to the lows today, with the Stoxx 600 shedding 3.1% , led by roughly 3.5% declines for the U.K., Germany (NYSEARCA: EWG ), France (NYSEARCA: EWQ ), and Italy (NYSEARCA: EWI ). Spain (NYSEARCA: EWP ) dropped 2.75% . More news on: … read more...

New Spanner In U.S.-China Relations Weighs On Risk Appetites

via: SeekingAlpha at 2018-12-06 08:23:32:000

Overview: The global capital markets were fragile amid trade uncertainty and economic slowdown fears. News that Canada arrested the CFO of Huawei ostensibly for violating the embargo against Iran triggered an almost immediate risk-off wave that has extended the equity markets losses, sendi… read more...

U.S. Market Closure May Be A Firebreak

via: SeekingAlpha at 2018-12-05 08:06:14:000

Overview: The 3%+ drop in the S&P 500 yesterday kept global equities under pressure today, though losses in Asia and Europe were milder. In Asia, only Hong Kong and Taiwan benchmarks lost more than 1%. In Europe, the Dow Jones Stoxx 600 is off about 0.8% in late morning turnover. Altho… read more...

Eurozone: Filibuster On Eurozone Reforms Continues

via: SeekingAlpha at 2018-12-05 01:07:51:000

By Carsten Brzeski , Chief Economist ING Germany For euro crisis veterans, it was almost a dj vu: a red-eye meeting of eurozone finance ministers with several breaks ending early in the morning with a hard-fought written conclusion. However, contrary to the heydays of the … read more...

Dramatic Week Ends With Whimper?

via: SeekingAlpha at 2018-11-30 09:38:08:000

Overview There is an eerie calm in the capital markets today as the G20 meeting gets underway. There is much uncertainty, and the event calendar is chock full next week, with the Brexit debate getting underway in the UK Parliament, the CDU picks a new leader to replace Merkel, possible p… read more...

Dramatic Week Ends With Whimper?

via: SeekingAlpha at 2018-11-30 09:38:08:000

Overview There is an eerie calm in the capital markets today as the G20 meeting gets underway. There is much uncertainty, and the event calendar is chock full next week, with the Brexit debate getting underway in the UK Parliament, the CDU picks a new leader to replace Merkel, possible p… read more...

Dramatic Week Ends With Whimper?

via: SeekingAlpha at 2018-11-30 09:38:08:000

Overview There is an eerie calm in the capital markets today as the G20 meeting gets underway. There is much uncertainty, and the event calendar is chock full next week, with the Brexit debate getting underway in the UK Parliament, the CDU picks a new leader to replace Merkel, possible p… read more...

Dramatic Week Ends With Whimper?

via: SeekingAlpha at 2018-11-30 09:38:08:000

Overview There is an eerie calm in the capital markets today as the G20 meeting gets underway. There is much uncertainty, and the event calendar is chock full next week, with the Brexit debate getting underway in the UK Parliament, the CDU picks a new leader to replace Merkel, possible p… read more...

Dramatic Week Ends With Whimper?

via: SeekingAlpha at 2018-11-30 09:38:08:000

Overview There is an eerie calm in the capital markets today as the G20 meeting gets underway. There is much uncertainty, and the event calendar is chock full next week, with the Brexit debate getting underway in the UK Parliament, the CDU picks a new leader to replace Merkel, possible p… read more...

Brexit: Reality Closes In On Theresa May

via: SeekingAlpha at 2018-11-29 00:38:44:000

By Senior Portfolio Manager Graham Allen Watching Theresa May negotiate Brexit is like watching a condemned prisoner choosing their method of execution. Having voted to remain, it is a decision she just does not want to have to make and it is beginning to show. Given that, … read more...

Germany: Still Groping In The Dark

via: SeekingAlpha at 2018-11-26 06:46:50:000

By Carsten Brzeski, Chief Economist ING Germany The latest Ifo index just somewhat undermines hopes for a swift and strong rebound of the German economy in the final quarter of the yea r Germany's most prominent leading indicator just added more uncertainty to the growth outlook. Th… read more...

Germany: Still Groping In The Dark

via: SeekingAlpha at 2018-11-26 06:46:50:000

By Carsten Brzeski, Chief Economist ING Germany The latest Ifo index just somewhat undermines hopes for a swift and strong rebound of the German economy in the final quarter of the yea r Germany's most prominent leading indicator just added more uncertainty to the growth outlook. Th… read more...

Germany: Still Groping In The Dark

via: SeekingAlpha at 2018-11-26 06:46:50:000

By Carsten Brzeski, Chief Economist ING Germany The latest Ifo index just somewhat undermines hopes for a swift and strong rebound of the German economy in the final quarter of the yea r Germany's most prominent leading indicator just added more uncertainty to the growth outlook. Th… read more...

Powell And Draghi, Xi And Trump

via: SeekingAlpha at 2018-11-26 01:37:40:000

The investment climate will be shaped by three events next week. ECB President Draghi's testimony before the European Parliament will kick off the week. Fed Chairman Powell speaks to the New York Economic Club in the middle of the week. Presidents Trump and Xi are to meet at the G20 meeting to… read more...

Powell And Draghi, Xi And Trump

via: SeekingAlpha at 2018-11-26 01:37:40:000

The investment climate will be shaped by three events next week. ECB President Draghi's testimony before the European Parliament will kick off the week. Fed Chairman Powell speaks to the New York Economic Club in the middle of the week. Presidents Trump and Xi are to meet at the G20 meeting to… read more...

Powell And Draghi, Xi And Trump

via: SeekingAlpha at 2018-11-26 01:37:40:000

The investment climate will be shaped by three events next week. ECB President Draghi's testimony before the European Parliament will kick off the week. Fed Chairman Powell speaks to the New York Economic Club in the middle of the week. Presidents Trump and Xi are to meet at the G20 meeting to… read more...

Eurozone Economy's Downside Risks Mount As Flash PMI Hits 4-Year Low

via: SeekingAlpha at 2018-11-25 19:11:32:000

The latest flash PMI survey data revealed a cooling of eurozone business growth to a four-year low, adding to signs that the economy faces a disappointing end of the year. The headline IHS Markit Eurozone Composite PMI fell from 53.1 in October to 52.4 in November, its lowest since December … read more...

Eurozone Economy's Downside Risks Mount As Flash PMI Hits 4-Year Low

via: SeekingAlpha at 2018-11-25 19:11:32:000

The latest flash PMI survey data revealed a cooling of eurozone business growth to a four-year low, adding to signs that the economy faces a disappointing end of the year. The headline IHS Markit Eurozone Composite PMI fell from 53.1 in October to 52.4 in November, its lowest since December … read more...

Eurozone Economy's Downside Risks Mount As Flash PMI Hits 4-Year Low

via: SeekingAlpha at 2018-11-25 19:11:32:000

The latest flash PMI survey data revealed a cooling of eurozone business growth to a four-year low, adding to signs that the economy faces a disappointing end of the year. The headline IHS Markit Eurozone Composite PMI fell from 53.1 in October to 52.4 in November, its lowest since December … read more...

And Here's Mud In Your Eye

via: SeekingAlpha at 2018-11-25 14:37:55:000

The markets have not been kind lately. I advised having some cash several weeks back and that, obviously, was the right call. The markets have not been a gentle place. Treasuries have not been the cause of any pain recently. However, the U.S. Treasury 10 year yield is up 19.9%% from the low yi… read more...

ECB Minutes: Glimmers Of Doubt

via: SeekingAlpha at 2018-11-23 02:35:33:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone The minutes of the October meeting of the ECBs Governing Council show some signs of doubt about the growth picture, though the ECB felt it was too soon to change its assessment. This could still happen in December though… read more...

ECB Minutes: Glimmers Of Doubt

via: SeekingAlpha at 2018-11-23 02:35:33:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone The minutes of the October meeting of the ECBs Governing Council show some signs of doubt about the growth picture, though the ECB felt it was too soon to change its assessment. This could still happen in December though… read more...

As Eurozone History Rhymes Unproductively, The ECB Creates 'Optionality'

via: SeekingAlpha at 2018-11-20 05:42:26:000

(Source: IHS Markit ) As President Macron mixes his WWI metaphors and the Lame Grand Duchess Merkel revisits 17 th Century European history, a pre-Renaissance feudal picture of the Eurozone may be more apposite and instructive. This new picture is one of economic decline, against a … read more...

As Eurozone History Rhymes Unproductively, The ECB Creates 'Optionality'

via: SeekingAlpha at 2018-11-20 05:42:26:000

(Source: IHS Markit ) As President Macron mixes his WWI metaphors and the Lame Grand Duchess Merkel revisits 17 th Century European history, a pre-Renaissance feudal picture of the Eurozone may be more apposite and instructive. This new picture is one of economic decline, against a … read more...

As Eurozone History Rhymes Unproductively, The ECB Creates 'Optionality'

via: SeekingAlpha at 2018-11-20 05:42:26:000

(Source: IHS Markit ) As President Macron mixes his WWI metaphors and the Lame Grand Duchess Merkel revisits 17 th Century European history, a pre-Renaissance feudal picture of the Eurozone may be more apposite and instructive. This new picture is one of economic decline, against a … read more...

Italy's Threat To The Euro

via: SeekingAlpha at 2018-11-20 04:29:26:000

Six years after the euro crisis was supposed to have ended, ill winds of political change are now blowing in Rome and Berlin. They are doing so at a time that Italy, the eurozone's third-largest economy, is coming under increased market pressure fueled by doubts about the country's economic ou… read more...

Italy's Threat To The Euro

via: SeekingAlpha at 2018-11-20 04:29:26:000

Six years after the euro crisis was supposed to have ended, ill winds of political change are now blowing in Rome and Berlin. They are doing so at a time that Italy, the eurozone's third-largest economy, is coming under increased market pressure fueled by doubts about the country's economic ou… read more...

Italy's Threat To The Euro

via: SeekingAlpha at 2018-11-20 04:29:26:000

Six years after the euro crisis was supposed to have ended, ill winds of political change are now blowing in Rome and Berlin. They are doing so at a time that Italy, the eurozone's third-largest economy, is coming under increased market pressure fueled by doubts about the country's economic ou… read more...

Eurozone: Signs Of Life From The French-German Axis

via: SeekingAlpha at 2018-11-19 04:45:51:000

By Carsten Brzeski, Chief Economist ING Germany Just when you thought it was all over for eurozone reform, the French-German axis returns with a proposal for a eurozone budget Eurozone finance ministers meet again over the weekend to discuss possible measures for further integrat… read more...

Deals Or No Deals?

via: SeekingAlpha at 2018-11-18 00:25:20:000

What the markets are confronted with now are a lot of uncertainty. There are three major "Deal or No Deal" situations that are sitting there, and staring us all in the face. The first is the tariff situation with China. We are in a stand-off position and everyone is wondering if someone is goi… read more...

Germany: Wake-Up Call

via: SeekingAlpha at 2018-11-14 06:06:42:000

By Carsten Brzeski, Chief Economist ING Germany First it was politics, now it is the economy. The worst economic performance since 1Q 2013 is another wake-up call for the eurozones largest economy to take action The swan songs and obituaries on the golden decade of the German… read more...

Germany: Wake-Up Call

via: SeekingAlpha at 2018-11-14 06:06:42:000

By Carsten Brzeski, Chief Economist ING Germany First it was politics, now it is the economy. The worst economic performance since 1Q 2013 is another wake-up call for the eurozones largest economy to take action The swan songs and obituaries on the golden decade of the German… read more...

Germany: Wake-Up Call

via: SeekingAlpha at 2018-11-14 06:06:42:000

By Carsten Brzeski, Chief Economist ING Germany First it was politics, now it is the economy. The worst economic performance since 1Q 2013 is another wake-up call for the eurozones largest economy to take action The swan songs and obituaries on the golden decade of the German… read more...

Finding Value Among Stretched U.S. Valuations, Market Dislocations

via: SeekingAlpha at 2018-11-13 03:21:19:000

By Antonio (Tony) Docal, CFA, Deputy Director of Research, Templeton Global Equity Group; Alan Chua, CFA, Executive Vice President, Portfolio Manager and Research Analyst, Templeton Global Equity Group; Peter A. Nori, CFA, Executive Vice President, Portfolio Manager and Research A… read more...

Rome - The Legend

via: SeekingAlpha at 2018-11-13 00:48:58:000

Rome, the legend, founded upon fallen Troy and triumphant over fallen Carthage, had stood for a heroism which was the nearest that any pagan ever came to chivalry. Rome had defended the household gods and the human decencies against the ogres of Africa and the hermaphrodite monstrosities of … read more...

Ominous Signs In Europe

via: SeekingAlpha at 2018-11-12 08:01:13:000

Watching the price action of EUR/CHF, Italian 10-year government bond yields, and a number of European equity indices, I see ominous signs that all is not healthy in Europe. I will begin with EUR/CHF ( FXE ) ( FXF ). If the macroeconomic backdrop were stable and rosy, EUR/CHF should in all… read more...

5 Things To Watch In The U.K. Over The Next Week

via: SeekingAlpha at 2018-11-12 05:17:36:000

By James Smith, Developed Markets Economist Amid a busy week of UK data, the key question is whether the UK government can agree on a Brexit deal this month. Headlines over the weekend suggest that's now less likely, and in any case, the crucial task of getting it approved by Parliamen… read more...

European Central Bank In Panic Mode As Economy Stalls

via: SeekingAlpha at 2018-11-10 07:56:14:000

By Andrew Moran The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2% , the slowest rate in more than four years. With the 19-nation currency bloc beginning to stagnate, and the heavyweights failing to post sign… read more...

European Central Bank In Panic Mode As Economy Stalls

via: SeekingAlpha at 2018-11-10 07:56:14:000

By Andrew Moran The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2% , the slowest rate in more than four years. With the 19-nation currency bloc beginning to stagnate, and the heavyweights failing to post sign… read more...

Europe's Banks

via: SeekingAlpha at 2018-11-09 06:02:55:000

My visit to Europe resulted in many interesting conversations. There was a stark contrast between the complex regulatory vision of formal presentations and papers, and the lunch and coffee discussion reflecting experience of people involved in actually regulating banks. They seemed to be quite… read more...

Harmful Modern Myths And Legends

via: SeekingAlpha at 2018-11-08 10:06:13:000

Loreley Rock near Sankt Goarshausen sits at a narrow curve on the Rhine River in Germany. The shape of the bluff produces a faint echo in the wind, supposedly the last whispers of a beautiful maiden who threw herself from it in despair once spurned by her paramour. She was transformed into a s… read more...

Italy's Parallel Currency Temptation

via: SeekingAlpha at 2018-11-08 05:18:01:000

As the Italian economy stalls yet again and as the budget standoff with its European partners intensifies, the idea of a parallel currency for Italy is again being floated. The basic idea would be to have the Italian government increase public expenditure to kick-start the economy and to finan… read more...

Elliott Wave Analysis: European Equities

via: SeekingAlpha at 2018-11-07 16:39:52:000

Introduction We concluded on July 3rd, 2018 that a cyclical correction is likely to start for European equity indices during 2018. Moreover, our main point back then was to show that the correction is unlikely to end in another great depression. Past weeks' market action supports the ass… read more...

Slower Eurozone Growth In Q3 Not A Major Concern, But Watch Italy

via: SeekingAlpha at 2018-11-06 16:21:47:000

Eurozone GDP growth was very soft in the third quarter, coming in at 0.6% for the three months to September on a seasonally adjusted annualized basis, against consensus expectations of around 1.5%. While the release is disappointing, we caution against extrapolating this weakness in quarters a… read more...

Spain: Businesses More Upbeat, But Clouds Of Uncertainty Remain

via: SeekingAlpha at 2018-11-06 13:51:40:000

By Steven Trypsteen, Economist, Spain and Portugal Today's figures not only show an improved business climate in October but also that Spain continues to outperform the eurozone. But we cannot forget the worsening external environment and Spanish political uncertainty. So, for now, we fo… read more...

Despite Lower GDP Growth, European Earnings May Accelerate In 2019

via: SeekingAlpha at 2018-11-04 19:49:38:000

Brexit uncertainty has captured the headlines, but we are constructive on quality growth holdings Posted by Richard Nield, Senior Portfolio Manager on Nov 1, 2018, in Equities For months, Europe has grappled with geopolitical uncertainty in the form of ongoing Brexit negot… read more...

Italy Update: Still A Concern For Investors

via: SeekingAlpha at 2018-11-01 06:12:41:000

By Bill Witherell, Ph.D. The Italian drama continues, with the European bond markets demonstrating great resilience despite the risks presented by the Italian government's proposed fiscal policy stance, which has been rejected by the European Commission ((EC)). Earlier, after receiving Ita… read more...

Italy Update: Still A Concern For Investors

via: SeekingAlpha at 2018-11-01 06:12:41:000

By Bill Witherell, Ph.D. The Italian drama continues, with the European bond markets demonstrating great resilience despite the risks presented by the Italian government's proposed fiscal policy stance, which has been rejected by the European Commission ((EC)). Earlier, after receiving Ita… read more...

Italy Update: Still A Concern For Investors

via: SeekingAlpha at 2018-11-01 06:12:41:000

By Bill Witherell, Ph.D. The Italian drama continues, with the European bond markets demonstrating great resilience despite the risks presented by the Italian government's proposed fiscal policy stance, which has been rejected by the European Commission ((EC)). Earlier, after receiving Ita… read more...

An Italian Bank Run Could Crack The Euro

via: SeekingAlpha at 2018-11-01 02:49:50:000

By Thomas Mayer, CFA, PhD The Italian government is defying the European Commission's request that it revise its draft budget for 2019 to reduce the deficit. Bond yield spreads are widening, and Italian banks are under pressure. Should a bank run ensue, could the euro fall apart? After… read more...

An Italian Bank Run Could Crack The Euro

via: SeekingAlpha at 2018-11-01 02:49:50:000

By Thomas Mayer, CFA, PhD The Italian government is defying the European Commission's request that it revise its draft budget for 2019 to reduce the deficit. Bond yield spreads are widening, and Italian banks are under pressure. Should a bank run ensue, could the euro fall apart? After… read more...

An Italian Bank Run Could Crack The Euro

via: SeekingAlpha at 2018-11-01 02:49:50:000

By Thomas Mayer, CFA, PhD The Italian government is defying the European Commission's request that it revise its draft budget for 2019 to reduce the deficit. Bond yield spreads are widening, and Italian banks are under pressure. Should a bank run ensue, could the euro fall apart? After… read more...

October Lives Up To Its Frightening Reputation For Investors

via: SeekingAlpha at 2018-10-31 03:17:07:000

Posted by Kristina Hooper, Chief Global Market Strategist on October 29, 2018, in Market & Economic Once again, the month of October has been living up to its frightful reputation for wreaking havoc on stock prices: 1929 and 1987 are prime examples, and we can now safely say … read more...

STOXX 600 Earnings Roundup - Week Ending October 26, 2018

via: SeekingAlpha at 2018-10-30 02:15:14:000

By Tajinder Dhillon 18Q3 earnings season is underway, with 72 companies reporting last week ending October 26, 2018. Exhibit 1 provides a summary of reporting results. Exhibit 1: Earnings Season Results Overall Recap Of the companies that reported last week, 54% beat EPS expectatio… read more...

As Merkel Falls, Will Bunds And Treasuries Follow?

via: SeekingAlpha at 2018-10-30 00:14:00:000

By Erik Norland Is a significant change on the way in German fiscal policy? The markets don't think so. The 10Y German Bund yield is still close to historic lows with a yield of 0.40%, showing little reaction to the recent elections in Bavaria, Hesse or news that Chancellor Angela Merkel … read more...

Revisiting International Equities

via: SeekingAlpha at 2018-10-29 10:56:43:000

By Benjamin Segal, Senior Portfolio Manager - Head of Global Equity Team; and Elias Cohen, Portfolio Manager - Global Equity Team When a market fall appears indiscriminate, it may be inconsistent with fundamentals and offer an attractive long-term opportunity. Guest columnists Benj… read more...

Europe adds to gains as Merkel announces retirement; Dax up 2%

via: SeekingAlpha at 2018-10-29 08:53:11:000

After a nasty result for her CDU party in a regional election over the weekend, German Chancellor Angela Merkel minutes ago announced her intention to retire from politics. Not going quietly, Merkel says she intends to serve until her term expires in 2021, citing need for her expertise in ch… read more...

Is The Next Recession Around The Corner?

via: SeekingAlpha at 2018-10-29 08:11:17:000

Editor's note: Seeking Alpha is proud to welcome Alessandro De Vito as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more By Al… read more...

Crisis Is The ECB's New Normal

via: SeekingAlpha at 2018-10-29 02:52:28:000

(Source: Bullionstar ) National and supranational crises are all in a days work for the ECB since GFC . Whilst these crises clearly present obstacles to the Eurozone Project, the ECB is currently trying to play down the fact that they also directly impact its plans to normalize mon… read more...

Italy Versus The Markets, A Very Predictable Outcome

via: SeekingAlpha at 2018-10-26 16:58:05:000

Markets are selling off in fits, and there is no shortage of reasons and Italy is only one of these. Here is why you have been so worried about the markets, a veritable wall of worry from MarketWatch : Policy mistake by the Federal Reserve Rising interest rates that could make borrow… read more...

Italy Versus The Markets, A Very Predictable Outcome

via: SeekingAlpha at 2018-10-26 16:58:05:000

Markets are selling off in fits, and there is no shortage of reasons and Italy is only one of these. Here is why you have been so worried about the markets, a veritable wall of worry from MarketWatch : Policy mistake by the Federal Reserve Rising interest rates that could make borrow… read more...

Italy Versus The Markets, A Very Predictable Outcome

via: SeekingAlpha at 2018-10-26 16:58:05:000

Markets are selling off in fits, and there is no shortage of reasons and Italy is only one of these. Here is why you have been so worried about the markets, a veritable wall of worry from MarketWatch : Policy mistake by the Federal Reserve Rising interest rates that could make borrow… read more...

Europe Stoxx ends week down as U.S. shares slump on tech

via: SeekingAlpha at 2018-10-26 12:18:46:000

Stoxx Europe 600 closes down 0.8%on Friday, as U.S. stocks decline further on disappointing earnings from U.S. tech behemoths Amazon and Alphabet. More news on: Valeo S.A., Rolls Royce Holdings plc, Vanguard FTSE Europe ETF, Financial stocks news, Tech stocks news, News on the… read more...

Europe Stoxx ends week down as U.S. shares slump on tech

via: SeekingAlpha at 2018-10-26 12:18:46:000

Stoxx Europe 600 closes down 0.8%on Friday, as U.S. stocks decline further on disappointing earnings from U.S. tech behemoths Amazon and Alphabet. More news on: Valeo S.A., Rolls Royce Holdings plc, Vanguard FTSE Europe ETF, Financial stocks news, Tech stocks news, News on the… read more...

Europe Stoxx ends week down as U.S. shares slump on tech

via: SeekingAlpha at 2018-10-26 12:18:46:000

Stoxx Europe 600 closes down 0.8%on Friday, as U.S. stocks decline further on disappointing earnings from U.S. tech behemoths Amazon and Alphabet. More news on: Valeo S.A., Rolls Royce Holdings plc, Vanguard FTSE Europe ETF, Financial stocks news, Tech stocks news, News on the… read more...

ECB: Not Sexy But Highly Effective

via: SeekingAlpha at 2018-10-26 03:36:22:000

By Carsten Brzeski, Chief Economist ING Germany The ECB remains determined to continue its chosen path to bring net QE to an end in December No change Thursday No changes from the ECB and President Mario Draghi. As expected, the European Central Bank sticks to its autopilot to br… read more...

ECB: Not Sexy But Highly Effective

via: SeekingAlpha at 2018-10-26 03:36:22:000

By Carsten Brzeski, Chief Economist ING Germany The ECB remains determined to continue its chosen path to bring net QE to an end in December No change Thursday No changes from the ECB and President Mario Draghi. As expected, the European Central Bank sticks to its autopilot to br… read more...

ECB: Not Sexy But Highly Effective

via: SeekingAlpha at 2018-10-26 03:36:22:000

By Carsten Brzeski, Chief Economist ING Germany The ECB remains determined to continue its chosen path to bring net QE to an end in December No change Thursday No changes from the ECB and President Mario Draghi. As expected, the European Central Bank sticks to its autopilot to br… read more...

Eurozone: Leaves Are Falling, So Is The PMI

via: SeekingAlpha at 2018-10-26 02:57:04:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A fall in the PMI in October signals a weakening of Eurozone momentum at the start of the fourth quarter. If the stock market corrects further, it would constitute an additional brake on the Eurozone's growth pace With markets … read more...

Eurozone: Leaves Are Falling, So Is The PMI

via: SeekingAlpha at 2018-10-26 02:57:04:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A fall in the PMI in October signals a weakening of Eurozone momentum at the start of the fourth quarter. If the stock market corrects further, it would constitute an additional brake on the Eurozone's growth pace With markets … read more...

Eurozone: Leaves Are Falling, So Is The PMI

via: SeekingAlpha at 2018-10-26 02:57:04:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A fall in the PMI in October signals a weakening of Eurozone momentum at the start of the fourth quarter. If the stock market corrects further, it would constitute an additional brake on the Eurozone's growth pace With markets … read more...

The 'Circus Maximus' - Approaching The Big Top

via: SeekingAlpha at 2018-10-25 08:19:14:000

"What's this?" he inquired, none too pleasantly. "A circus?" "No, Julius. It's the end of the circus." "I see. And these are the clowns?" - Eoin Colfer I feel like we are all out here with Stealers Wheel, "Clowns to the left of me, jokers to the right, here I am, stuck in the middl… read more...

Italian Fiscal Stress Scenario Triggers Domestic Recession

via: SeekingAlpha at 2018-10-25 05:19:15:000

Stress Scenario Assumptions The Italian stress scenario assumes that the Lega and the Five Star Movement coalition government presents expansive budgets for both 2019 and 2020, which rattles bond markets and rating agencies, leading to acute financial market turbulence. This uncertainty … read more...

Chart Of The Week: Death Watch

via: SeekingAlpha at 2018-10-24 00:39:46:000

One relatively obscure technical chart pattern, known ominously as the "death cross", has caught my attention recently. The reason is, if you look across the 70 countries we monitor, almost 80% of markets have seen this omen light up. So, what does it mean for global equities? This week's ch… read more...

The Day After Tomorrow: Is Europe About To Break Down? - Part I

via: SeekingAlpha at 2018-10-23 11:03:36:000

Background Germany on one side ( EWG ), Italy ( EWI ) on the other side. In a nutshell, that's the dividing story of Europe right now. Literally and figuratively. The two countries - one representing the "rich North", the other is the image of the "poor South" - aren't only distant fro… read more...

And Now, The 'Circus Maximus'

via: SeekingAlpha at 2018-10-23 08:00:05:000

It was the first and largest stadium in ancient Rome and its later Empire. It was constructed in the 6th century BCE. It measured 2,037 ft in length and 387 ft in width and could accommodate over 150,000 spectators. The Circus was Rome's largest venue for "ludi," public games connected to the … read more...

Rome Goes To War With Brussels

via: SeekingAlpha at 2018-10-23 04:59:08:000

Original Post By Stuart Burns Readers in North America can be excused for puzzling why Europeans worry overly about the so-called "eurozone crisis." They seem to come around periodically. There is a great deal of noise and some volatility in the stock markets, but eventually - whet… read more...

Chart Of The Moment: Backup In Eurozone Yields

via: SeekingAlpha at 2018-10-23 01:34:59:000

Editor's note: Seeking Alpha is proud to welcome Brandywine Global Investment Management as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out … read more...

Euro's Fate May Be In Italy's Hands

via: SeekingAlpha at 2018-10-23 01:12:33:000

By Erik Norland While the trials and tribulations of Brexit grab the headlines, the collapse in the Italian bond market may be of far greater consequence to the future of Europe than Britain's departure from the European Union. The most recent selloff, which began in May, isn't the first t… read more...

No Cause For Concern For ECB Rates

via: SeekingAlpha at 2018-10-22 23:59:10:000

While global conditions have been less than optimal, inflation in the eurozone should not be a point of concern at the moment, especially in its impact on the region's monetary policy. The four countries in the chart below account for about 80% of the eurozone, and only one of which (Germany) … read more...

Chinese Rally Not Providing Lift For Europe

via: SeekingAlpha at 2018-10-22 04:43:56:000

Surging stocks in China hasn't provided much of a catalyst for similar moves elsewhere at the start of the week, with local investors seeing recent comments from various officials as evidence that the private sector will be protected, despite heightened risk from a trade war with the US. Pre… read more...

The Roman Legion Has Arrived!

via: SeekingAlpha at 2018-10-21 01:21:27:000

Italy's government gave final approval to their EU rule busting budget and brushed off a Moody's rating downgrade triggered by its higher-than-expected deficit targets. Premier Giuseppe Conte said the budget plan was definitively approved, at an emergency cabinet meeting Saturday, that was cal… read more...

Italy - Rejection

via: SeekingAlpha at 2018-10-18 11:58:42:000

I thought it might take the full two weeks. That is the time allotted by the European Union to accept or reject any nation's budget. I supposed that there would be agonizing and discussions and all manners of persuasion used before Italy's budget was flat-out rejected. After all, the EU has ne… read more...

Italy - Rejection

via: SeekingAlpha at 2018-10-18 11:58:42:000

I thought it might take the full two weeks. That is the time allotted by the European Union to accept or reject any nation's budget. I supposed that there would be agonizing and discussions and all manners of persuasion used before Italy's budget was flat-out rejected. After all, the EU has ne… read more...

Italy - Rejection

via: SeekingAlpha at 2018-10-18 11:58:42:000

I thought it might take the full two weeks. That is the time allotted by the European Union to accept or reject any nation's budget. I supposed that there would be agonizing and discussions and all manners of persuasion used before Italy's budget was flat-out rejected. After all, the EU has ne… read more...

Thrilling Thursday - Drama At The Strong Bounce Lines - Money Talk Portfolio Review

via: SeekingAlpha at 2018-10-18 09:59:48:000

Schrodinger's Market. The bouncing cat is either dead or alive at S&P 2,800 and we won't really know which is which until the weekend, as the S&P failed to hold it yesterday, and our 5% Rule demands 2 full days over the strong bounce line (2,800) before we can put our rally… read more...

Thrilling Thursday - Drama At The Strong Bounce Lines - Money Talk Portfolio Review

via: SeekingAlpha at 2018-10-18 09:59:48:000

Schrodinger's Market. The bouncing cat is either dead or alive at S&P 2,800 and we won't really know which is which until the weekend, as the S&P failed to hold it yesterday, and our 5% Rule demands 2 full days over the strong bounce line (2,800) before we can put our rally… read more...

Thrilling Thursday - Drama At The Strong Bounce Lines - Money Talk Portfolio Review

via: SeekingAlpha at 2018-10-18 09:59:48:000

Schrodinger's Market. The bouncing cat is either dead or alive at S&P 2,800 and we won't really know which is which until the weekend, as the S&P failed to hold it yesterday, and our 5% Rule demands 2 full days over the strong bounce line (2,800) before we can put our rally… read more...

Why Should Investors Still Consider Europe?

via: SeekingAlpha at 2018-10-11 11:03:30:000

By Alex Crooke In this video update, Alex Crooke, Co-Head of Equities - EMEA and Asia Pacific, provides a broad overview of global equity markets and reflects on the chances of markets rebalancing following significant U.S. equity outperformance. Alex also examines some of the issues facin… read more...

Why Should Investors Still Consider Europe?

via: SeekingAlpha at 2018-10-11 11:03:30:000

By Alex Crooke In this video update, Alex Crooke, Co-Head of Equities - EMEA and Asia Pacific, provides a broad overview of global equity markets and reflects on the chances of markets rebalancing following significant U.S. equity outperformance. Alex also examines some of the issues facin… read more...

Why Should Investors Still Consider Europe?

via: SeekingAlpha at 2018-10-11 11:03:30:000

By Alex Crooke In this video update, Alex Crooke, Co-Head of Equities - EMEA and Asia Pacific, provides a broad overview of global equity markets and reflects on the chances of markets rebalancing following significant U.S. equity outperformance. Alex also examines some of the issues facin… read more...

Europe down nearly 2% in wake of U.S. selloff

via: SeekingAlpha at 2018-10-11 07:48:31:000

The selloff in Europe is rather contained given the carnage in the U.S. yesterday - the Stoxx 600 is down 1.8% , led by the FTSE (NYSEARCA: EWU ) and CAC 40 (NYSEARCA: EWQ ) with 1.7% declines . More news on: iShares MSCI United Kingdom ETF, iShares MSCI France ETF, Vanguard FT… read more...

Europe down nearly 2% in wake of U.S. selloff

via: SeekingAlpha at 2018-10-11 07:48:31:000

The selloff in Europe is rather contained given the carnage in the U.S. yesterday - the Stoxx 600 is down 1.8% , led by the FTSE (NYSEARCA: EWU ) and CAC 40 (NYSEARCA: EWQ ) with 1.7% declines . More news on: iShares MSCI United Kingdom ETF, iShares MSCI France ETF, Vanguard FT… read more...

Europe down nearly 2% in wake of U.S. selloff

via: SeekingAlpha at 2018-10-11 07:48:31:000

The selloff in Europe is rather contained given the carnage in the U.S. yesterday - the Stoxx 600 is down 1.8% , led by the FTSE (NYSEARCA: EWU ) and CAC 40 (NYSEARCA: EWQ ) with 1.7% declines . More news on: iShares MSCI United Kingdom ETF, iShares MSCI France ETF, Vanguard FT… read more...

Italy Is Too Big To Fail

via: SeekingAlpha at 2018-10-11 06:34:10:000

One has to be dismayed by both Italian Deputy Prime Ministers Matteo Salvini and Luigi Di Maio's failure to grasp the major risks that a continued sell-off in Italian bonds would pose to the Italian economy. Equally, one has to be concerned about how complacent US policymakers seem to be about… read more...

Italy Is Too Big To Fail

via: SeekingAlpha at 2018-10-11 06:34:10:000

One has to be dismayed by both Italian Deputy Prime Ministers Matteo Salvini and Luigi Di Maio's failure to grasp the major risks that a continued sell-off in Italian bonds would pose to the Italian economy. Equally, one has to be concerned about how complacent US policymakers seem to be about… read more...

Italy Is Too Big To Fail

via: SeekingAlpha at 2018-10-11 06:34:10:000

One has to be dismayed by both Italian Deputy Prime Ministers Matteo Salvini and Luigi Di Maio's failure to grasp the major risks that a continued sell-off in Italian bonds would pose to the Italian economy. Equally, one has to be concerned about how complacent US policymakers seem to be about… read more...

Euro Will Not Survive If Italy Fails

via: SeekingAlpha at 2018-10-10 06:09:51:000

Rome on course to trigger European banking crisis. US policymakers and world financial markets are surprisingly calm about the deepening Italian economic crisis. Italy's economy is 10 times larger than Greece's. If it fails, the euro cannot survive. It would also be too costly for its Euro… read more...

Vítor Unbound

via: SeekingAlpha at 2018-10-10 05:25:30:000

I always find the views of former policymakers fascinating, not least because of their tendency to become much more outspoken once they are out of office. Some express much more radical views than they did while in office: Larry Summers springs to mind, and Adair Turner. Others become critical… read more...

Jobs, Trade And The Economy: What Did We Learn Last Week?

via: SeekingAlpha at 2018-10-10 03:11:10:000

Posted by Kristina Hooper, Chief Global Market Strategist on October 8, 2018, in Market & Economic Weekly Market Compass: Identifying the trends behind key data releases and trade agreements. Last week was particularly busy, with key data releases giving us the latest g… read more...

Europe May Be Entering Its Third Stagnation In A Decade

via: SeekingAlpha at 2018-10-09 05:40:41:000

By Gary Alexander While we have been proudly boasting of U.S. growth rates exceeding 4%, European growth rates have been receding. Europes second-quarter 2018 cumulative 12-month rate is 2.2%. (The following chart measures quarter-over-quarter increases, so the preceding four quart… read more...

It's Monday And Rome Is (Still) Burning

via: SeekingAlpha at 2018-10-08 10:16:41:000

Want to see something funny? Of course, you do. It's Monday and there's nothing like some dark market humor to get your week started on the "right" foot. The following chart is S&P futures plotted with the spread between Italian 10-year yields and safe haven German bund yields: (Bloo… read more...

ECB To Become 'Very Gradual' In Response To Stagflation And Various Exit Risks

via: SeekingAlpha at 2018-10-06 02:08:06:000

The last report characterized the ECB as being committed to the QE-ending mode process. No greater confirmation of this can be sought after Mario Draghi recently dubbed Eurozone inflation as "relatively vigorous" . The ECB has tried this before, only to be dragged back in order "to do wh… read more...

ECB To Become 'Very Gradual' In Response To Stagflation And Various Exit Risks

via: SeekingAlpha at 2018-10-06 02:08:06:000

The last report characterized the ECB as being committed to the QE-ending mode process. No greater confirmation of this can be sought after Mario Draghi recently dubbed Eurozone inflation as "relatively vigorous" . The ECB has tried this before, only to be dragged back in order "to do wh… read more...

Another Italian Drama - Why It Matters

via: SeekingAlpha at 2018-10-04 07:45:59:000

By William Witherell, Ph.D. Government deficit out of control, irresponsible government policies, tumbling bond prices and bank share prices, threat of rating-agency downgrades, political instability - we have seen similar Italian dramas in the past that, in the end, did not lead to seriou… read more...

Another Italian Drama - Why It Matters

via: SeekingAlpha at 2018-10-04 07:45:59:000

By William Witherell, Ph.D. Government deficit out of control, irresponsible government policies, tumbling bond prices and bank share prices, threat of rating-agency downgrades, political instability - we have seen similar Italian dramas in the past that, in the end, did not lead to seriou… read more...

Eurozone Real Retail Sales Miss Again

via: SeekingAlpha at 2018-10-04 07:33:46:000

Last night, data was released for Eurozone Real Retail Sales. For the 7th month in a row, the indicator missed economist estimates. This is the second longest streak of misses since 2007 when the indicator missed for 9 straight months ending in December 2007. Sales reported for August were d… read more...

Eurozone Real Retail Sales Miss Again

via: SeekingAlpha at 2018-10-04 07:33:46:000

Last night, data was released for Eurozone Real Retail Sales. For the 7th month in a row, the indicator missed economist estimates. This is the second longest streak of misses since 2007 when the indicator missed for 9 straight months ending in December 2007. Sales reported for August were d… read more...

Your Pension Fund Now Owns The 'Bad Debt' The Big Banks Used To Own

via: SeekingAlpha at 2018-10-04 04:25:22:000

Read more … read more...

Your Pension Fund Now Owns The 'Bad Debt' The Big Banks Used To Own

via: SeekingAlpha at 2018-10-04 04:25:22:000

Read more … read more...

STOXX 600 Q3 2018 Earnings Preview - Yearly High Expectations?

via: SeekingAlpha at 2018-10-01 04:14:34:000

By Tajinder Dhillon As we roll into 18Q3 earnings season, let's take a closer look at growth expectations for the STOXX 600. 18Q3 growth projections are poised to deliver the highest growth rates in 2018 thus far, with EPS and Revenue growth coming in at 14.2% and 7.4%, respectively. Exh… read more...

STOXX 600 Q3 2018 Earnings Preview - Yearly High Expectations?

via: SeekingAlpha at 2018-10-01 04:14:34:000

By Tajinder Dhillon As we roll into 18Q3 earnings season, let's take a closer look at growth expectations for the STOXX 600. 18Q3 growth projections are poised to deliver the highest growth rates in 2018 thus far, with EPS and Revenue growth coming in at 14.2% and 7.4%, respectively. Exh… read more...

STOXX 600 Q3 2018 Earnings Preview - Yearly High Expectations?

via: SeekingAlpha at 2018-10-01 04:14:34:000

By Tajinder Dhillon As we roll into 18Q3 earnings season, let's take a closer look at growth expectations for the STOXX 600. 18Q3 growth projections are poised to deliver the highest growth rates in 2018 thus far, with EPS and Revenue growth coming in at 14.2% and 7.4%, respectively. Exh… read more...

Drivers: The Week Ahead

via: SeekingAlpha at 2018-09-30 11:08:46:000

Four events stand out in the first week of October: the situation in Italy, UK Prime Minister May's speech at the Tory Party Conference, the EMU PMI, and the US jobs data. We suspect that the market overreacted to the Italian government's 2.4% deficit projection. It is not an unreasonable ou… read more...

Italy Calls Europe's Bluff - And The Euro Loses Either Way

via: SeekingAlpha at 2018-09-29 12:43:35:000

When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of responsibility would bring Rome back into line. But so far the Italians appear to be serious about ending austerity and forcing the ECB to finance their spending… read more...

U.K. Financial Services - Opportunities And Threats Post-Brexit - Short-Term Pain, Long-Term Gain?

via: SeekingAlpha at 2018-09-28 18:26:08:000

In a departure from the my usual format this Macro Letter is the transcript of a speech I gave earlier this week at the UK law firm, Collyer Bristow; Thomas Carlisle may have dubbed Economics 'the dismal science,' but I remain an optimist. Setting aside the vexed question of whether Brex… read more...

Italy plunges more than 4%, bond yields shoot higher

via: SeekingAlpha at 2018-09-28 08:45:57:000

Rattling markets in Europe (but not so much over here), the Italian government significantly boosted its budget-deficit target for next year. That has some wondering about the sustainability of the government's funding. More news on: iShares MSCI Spain Capped ETF, iShares MSCI Germany ETF,… read more...

Dollar Remains Firm While Italy Is Punished

via: SeekingAlpha at 2018-09-28 07:43:06:000

Overview: The US dollar's post-Fed gains have been extended, though the upside momentum appears to be stalling. Japan's Nikkei advanced 1.35% on the back of the yen's declines and reached its highest level since 1991. Chinese shares (A and H) rallied amid reports that MSCI and FTSE-Russell a… read more...

Eurozone Inflation: A Soft Core Picture

via: SeekingAlpha at 2018-09-28 06:23:31:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone inflation climbs to 2.1% in September, but core inflation falls back to 0.9%. In these circumstances, the ECB isn't going to speed up its exit strategy The flash estimate for Eurozone HICP inflation came out at 2.1% … read more...

Italy's new deficit targets rattles European markets

via: SeekingAlpha at 2018-09-28 05:35:14:000

European markets are weighed by political turmoil in Italy , where the new anti-establishment government proposed a 2019 budget with a much wider deficit than the previous administrations target, setting up a clash with the European Commission. More news on: Invesco CurrencySha… read more...

Britain's Brexit Boat Hits The Rocks

via: SeekingAlpha at 2018-09-25 01:32:51:000

Original Post By Stuart Burns Well, that didn't go very well, did it? After a couple of weeks scurrying around European capitals and intense lobbying directly to E.U. leaders, Britain's Prime Minister Theresa May received short shrift at an E.U. conference in Salzburg, Austria, las… read more...

Britain's Brexit Boat Hits The Rocks

via: SeekingAlpha at 2018-09-25 01:32:51:000

Original Post By Stuart Burns Well, that didn't go very well, did it? After a couple of weeks scurrying around European capitals and intense lobbying directly to E.U. leaders, Britain's Prime Minister Theresa May received short shrift at an E.U. conference in Salzburg, Austria, las… read more...

Britain's Brexit Boat Hits The Rocks

via: SeekingAlpha at 2018-09-25 01:32:51:000

Original Post By Stuart Burns Well, that didn't go very well, did it? After a couple of weeks scurrying around European capitals and intense lobbying directly to E.U. leaders, Britain's Prime Minister Theresa May received short shrift at an E.U. conference in Salzburg, Austria, las… read more...

Hawkish Draghi remarks send euro higher, stocks lower

via: SeekingAlpha at 2018-09-24 10:10:36:000

Inflation readouts may be fairly stable, but they're masking a "relatively vigorous pickup in underlying inflation," says ECB chief Mario Draghi. More news on: Invesco CurrencyShares Euro Trust ETF, SPDR EURO STOXX 50 ETF, Vanguard FTSE Europe ETF, Global news and forex, Top stock market n… read more...

Tapering, Not Tightening

via: SeekingAlpha at 2018-09-24 03:46:09:000

By Patrick Barbe and Jon Jonsson, Senior Portfolio Managers, Investment Grade Fixed Income Why we dont expect the ECBs withdrawal of QE to throw euro bond markets off balance. Today's CIO Weekly Perspectives comes from guest contributors Patrick Barbe and Jon Jonsso… read more...

Why Should The European Union Be Nice To Great Britain?

via: SeekingAlpha at 2018-09-23 10:31:37:000

EU Ambushes Teresa May Over Brexit Plan. So reads the headlines of the Financial Times , the day after Ms. May met with European leaders in Salzburg, Austria. She was told her economic plan for Brexit will not work and gave her four weeks to save the exit t… read more...

Next Week's Drivers

via: SeekingAlpha at 2018-09-23 09:18:27:000

It is a testament to the Federal Reserve's communication and the evolution of investors' understanding that we can say that the rate hike that the central bank will deliver is not as important as what it says. A rate hike is a foregone conclusion. According to the CME's model, there is about… read more...

The 'Convergence Trade' Cometh

via: SeekingAlpha at 2018-09-22 01:46:24:000

This was it: The week of the convergence trade. Back on August 22, in " Marko Kolanovic's Risk-On Call And Why Bulls Should Hope For A Weaker Dollar ", I highlighted what JPMorgan dubbed an "unprecedented" divergence between U.S. stocks and the rest of the world. The overarching point was … read more...

The ECB And Draghi Are Starting To Grasp At Straws

via: SeekingAlpha at 2018-09-21 03:31:17:000

While much of the world is focused on trade wars, when looking at the future value of the euro it is important to keep in mind several key elements of "currency relativity." Bloomberg recently suggested that most likely the ECB's economic forecasts projections would be downgraded, and the ECB … read more...

Eurozone Consumer Confidence Disappoints Again

via: SeekingAlpha at 2018-09-21 02:03:17:000

The preliminary reading of the European Commission's Eurozone consumer confidence for September fell for the fourth month in a row to -2.9 from -2.0 in August. Although not as big a miss as August's report, this was the second weaker-than-expected report in a row. The last time consumer confid… read more...

European stocks gain most since July as easing trade fear benefits cyclicals

via: SeekingAlpha at 2018-09-20 15:28:32:000

Stoxx Europe 600 rose for a fifth consecutive day, driven by gains made by banks, autos, and basic resources. The index closed up 2.65, or +0.7% , at 382.63 Thursday. More news on: SCHAEFFLER AG ADR, Duerr AG, UDG Healthcare PLC, Financial stocks news, Global news and forex, Commodit… read more...

Banking On Europe

via: SeekingAlpha at 2018-09-20 05:45:30:000

By Kevin Flanagan , Senior Fixed Income Strategist Last week was central bank week in Europe, as both the European Central Bank ((ECB)) and the Bank of England ((BOE)) held policy meetings on the same day. The outcomes of these events did not necessarily break new ground, but the result… read more...

Eurozone: That Late Summer Feeling

via: SeekingAlpha at 2018-09-18 03:18:07:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone The eurozone economy is still showing decent growth, but the pace of growth is likely to level off over the next two years, as the international environment has become less positive. At the same time, a number of political hurdles… read more...

Eurozone: That Late Summer Feeling

via: SeekingAlpha at 2018-09-18 03:18:07:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone The eurozone economy is still showing decent growth, but the pace of growth is likely to level off over the next two years, as the international environment has become less positive. At the same time, a number of political hurdles… read more...

The Dollar Is Central To The Next Crisis

via: SeekingAlpha at 2018-09-16 06:29:08:000

Introduction and summary It is now possible to pencil in how the next credit crisis is likely to develop. At its centre is an overvalued dollar over-owned by foreigners, puffed up on speculative flows driven by interest rate differentials. These must be urgently corrected by the European Cen… read more...

The Dollar Is Central To The Next Crisis

via: SeekingAlpha at 2018-09-16 06:29:08:000

Introduction and summary It is now possible to pencil in how the next credit crisis is likely to develop. At its centre is an overvalued dollar over-owned by foreigners, puffed up on speculative flows driven by interest rate differentials. These must be urgently corrected by the European Cen… read more...

The European Bluff: How Long Can European Markets Survive Without The 'Big Brother' Help?

via: SeekingAlpha at 2018-09-15 05:09:41:000

Introduction Europe is doomed! I know it's a harsh statement, but if the European Central Bank ("ECB") and its president, Mario Draghi, are determined to end the QE policy they are running over recent years, there's simply no way that European capital markets can withstand the loss of the … read more...

ECB (Data) Independence

via: SeekingAlpha at 2018-09-13 23:13:46:000

Mario Draghi doesn't have a whole lot going for him, but he is at least consistent - at times (yes, inconsistent consistency). Bloomberg helpfully reported yesterday how the ECB's staff committee that produces the econometric projections has recommended the central bank's Governing Council… read more...

The ECB's Taper Autopilot Is Still On

via: SeekingAlpha at 2018-09-13 11:50:15:000

By Carsten Brzeski, Chief Economist ING Germany The European Central Bank delivers the first step towards exiting QE; the autopilot's still on and forward guidance on rates remains in place When you know you're doing an immaculate job When does a central banker know that he (or s… read more...

Draghi Sticks To Script

via: SeekingAlpha at 2018-09-13 10:27:56:000

The ECB did not surprise the market. The plan to halve the asset purchases in Q4 before stopping at the end of the year was reiterated. In the economic assessment, ECB President Draghi sounded a bit more optimistic, and this, coupled with the decline in the US headline and core rates of C… read more...

Vulnerable To Disappointment

via: SeekingAlpha at 2018-09-13 07:32:10:000

There is an eerie calm in the markets ahead of the highlight for the day and week. The central banks of the eurozone, UK, and Turkey hold policy meetings, and the US reports August CPI. The greenback is mostly firmer, with the Australian dollar as the notable exception. On the one hand, … read more...

Europe Starting To Reckon Eurodollar Curve

via: SeekingAlpha at 2018-09-13 06:56:18:000

We've been here before. Economists and central bankers become giddy about the prospects for success, meaning actual recovery. For that to happen, reflation must first attain enough momentum. If it does, as is always forecast, reflation becomes recovery. The world then moves off this darkening … read more...

A Simple Choice

via: SeekingAlpha at 2018-09-13 06:33:05:000

Is it a shortage of workers or a shortage of work? Structural issues with Americans and who they are, or macro issues about which Americans have been fed a load of crap for more than a decade? You can see why those who may have been manufacturing raw manure might have an interest in swaying th… read more...

Yes, Sweden Is A Domino

via: SeekingAlpha at 2018-09-13 06:25:41:000

Over the weekend, another European nation turned toward the populist direction. It was enough to get one's attention when Italy did it, but Sweden is something else altogether. The country has been long held out as an exemplar of everything that is right with globalization. They have industry,… read more...

Dollar Chops In Narrow Ranges

via: SeekingAlpha at 2018-09-12 07:33:56:000

Eurostat confirmed that EMU industrial output fell for a second consecutive month in July. The 0.8% decline was larger than expected and is the third decline of such a magnitude in four months and weighed on the euro. German and Spanish industrial output had surprised on the downside last we… read more...

ETF Deathwatch For August 2018

via: SeekingAlpha at 2018-09-12 07:02:16:000

By Daniel Rangel For the month of August, the ETF Deathwatch decreased in size. Fifteen exchange-traded products ("ETP") and one exchange-traded note ("ETN") were added to the list, and 35 funds were removed. Of the removals, 13 were removed due to increased health and 22 were due to asset… read more...

Mind The (U.S.-Germany Yield) Gap

via: SeekingAlpha at 2018-09-10 10:12:20:000

Key Points We see the yield spread between U.S. and German bonds modestly widening on U.S. economic outperformance and policy divergence. Technology stocks led global equities down. The Indonesian rupiah and South African rand joined the emerging market ((EM)) currency rout. This week'… read more...

Mind The (U.S.-Germany Yield) Gap

via: SeekingAlpha at 2018-09-10 10:12:20:000

Key Points We see the yield spread between U.S. and German bonds modestly widening on U.S. economic outperformance and policy divergence. Technology stocks led global equities down. The Indonesian rupiah and South African rand joined the emerging market ((EM)) currency rout. This week'… read more...

Eurozone: Half Full Or Half Empty?

via: SeekingAlpha at 2018-09-10 07:55:25:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone While the eurozone economy hasn't suffered too much from the trade skirmishes, uncertainty around both the Italian budget and the Brexit deal is likely to prevent any growth acceleration in the second half of the year. With inflat… read more...

Eurozone: Half Full Or Half Empty?

via: SeekingAlpha at 2018-09-10 07:55:25:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone While the eurozone economy hasn't suffered too much from the trade skirmishes, uncertainty around both the Italian budget and the Brexit deal is likely to prevent any growth acceleration in the second half of the year. With inflat… read more...

McCullough: Long USA Vs. Short Europe, Emerging Markets, Etc.

via: SeekingAlpha at 2018-09-07 14:40:53:000

U.S. economic data has been accelerating. European economic data has been slowing. These two simple facts are driving financial market returns this year. The S&P 500 is up 6% year-to-date. The Euro Stoxx 600 is down -3.7% this year. Now just look at the economic data. While the … read more...

McCullough: Long USA Vs. Short Europe, Emerging Markets, Etc.

via: SeekingAlpha at 2018-09-07 14:40:53:000

U.S. economic data has been accelerating. European economic data has been slowing. These two simple facts are driving financial market returns this year. The S&P 500 is up 6% year-to-date. The Euro Stoxx 600 is down -3.7% this year. Now just look at the economic data. While the … read more...

McCullough: Long USA Vs. Short Europe, Emerging Markets, Etc.

via: SeekingAlpha at 2018-09-07 14:40:53:000

U.S. economic data has been accelerating. European economic data has been slowing. These two simple facts are driving financial market returns this year. The S&P 500 is up 6% year-to-date. The Euro Stoxx 600 is down -3.7% this year. Now just look at the economic data. While the … read more...

Emerging Markets Stabilize While Euro Shrugs Off Disappointing Data

via: SeekingAlpha at 2018-09-07 08:28:14:000

The global capital markets are finishing the week on a more stable note than it began. Indeed, since the middle of the week, many of the besieged emerging market currencies like the South African rand, Turkish lira, and Argentine peso have posted some corrective upticks. Today, the MSCI Emer… read more...

Emerging Markets Stabilize While Euro Shrugs Off Disappointing Data

via: SeekingAlpha at 2018-09-07 08:28:14:000

The global capital markets are finishing the week on a more stable note than it began. Indeed, since the middle of the week, many of the besieged emerging market currencies like the South African rand, Turkish lira, and Argentine peso have posted some corrective upticks. Today, the MSCI Emer… read more...

Emerging Markets Stabilize While Euro Shrugs Off Disappointing Data

via: SeekingAlpha at 2018-09-07 08:28:14:000

The global capital markets are finishing the week on a more stable note than it began. Indeed, since the middle of the week, many of the besieged emerging market currencies like the South African rand, Turkish lira, and Argentine peso have posted some corrective upticks. Today, the MSCI Emer… read more...

6 Things That Happened On Monday You Should Know About

via: SeekingAlpha at 2018-09-03 20:55:24:000

The first session of September was marked by the US Labor Holiday. Several developments will help shape the investment climate. Japan: A surge in capital expenditures will boost expectations for an upward revision to Q2 GDP, which will be released on September 9 in Tokyo. Recall that Ja… read more...

6 Things That Happened On Monday You Should Know About

via: SeekingAlpha at 2018-09-03 20:55:24:000

The first session of September was marked by the US Labor Holiday. Several developments will help shape the investment climate. Japan: A surge in capital expenditures will boost expectations for an upward revision to Q2 GDP, which will be released on September 9 in Tokyo. Recall that Ja… read more...

6 Things That Happened On Monday You Should Know About

via: SeekingAlpha at 2018-09-03 20:55:24:000

The first session of September was marked by the US Labor Holiday. Several developments will help shape the investment climate. Japan: A surge in capital expenditures will boost expectations for an upward revision to Q2 GDP, which will be released on September 9 in Tokyo. Recall that Ja… read more...

3 Developments In Europe You May Have Missed Over The Summer - And One You Didn't

via: SeekingAlpha at 2018-09-02 09:26:23:000

By David Zahn, CFA, FRM, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group The months of July and August are traditionally a little quieter for markets in Europe as participants take a summer break. But things don't stop completely. As the wheels g… read more...

3 Developments In Europe You May Have Missed Over The Summer - And One You Didn't

via: SeekingAlpha at 2018-09-02 09:26:23:000

By David Zahn, CFA, FRM, Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group The months of July and August are traditionally a little quieter for markets in Europe as participants take a summer break. But things don't stop completely. As the wheels g… read more...

ECB At A (Familiar) Crossroads

via: SeekingAlpha at 2018-09-01 09:37:34:000

If Brazilian central bankers are the standard for illicit shamelessness, their European counterparts are at least on the same spectrum. At the end of April, the European Central Bank's President Mario Draghi took his shot at purposeful mischaracterization. Speaking to the press after the ECB… read more...

International Economic Week In Review For August 27-31

via: SeekingAlpha at 2018-09-01 01:19:26:000

Canada released its latest quarterly GDP report. Headline Q/Q growth was .7%, double the .3% 1Q rate. Household spending, which, like most developed countries, accounts for the bulk of the country's growth, was up .6%. Gains occurred in all the major consumer spending categories. While busin… read more...

Eurozone Core Inflation Declines To 1% And Becomes A Bigger Worry For ECB

via: SeekingAlpha at 2018-08-31 11:11:27:000

By Bert Colijn, Senior Economist, Eurozone Headline inflation drops to 2%, but the real story is core inflation falls back to 1%. The ECB will monitor this carefully in the coming months as core inflation needs to pick up for the conditional path of monetary tightening Headline inf… read more...

Euro Area Inflation: Why Low For So Long?

via: SeekingAlpha at 2018-08-29 05:13:42:000

By Yasser Abdih, senior economist working on the U.S. desk in the IMFs Western Hemisphere Department; Li Lin, economist in the Advanced Economies Unit in the IMFs European Department, working on euro area macroeconomic outlook, inflation, and external sector issues; and Anne-C… read more...

Euro Area Inflation: Why Low For So Long?

via: SeekingAlpha at 2018-08-29 05:13:42:000

By Yasser Abdih, senior economist working on the U.S. desk in the IMFs Western Hemisphere Department; Li Lin, economist in the Advanced Economies Unit in the IMFs European Department, working on euro area macroeconomic outlook, inflation, and external sector issues; and Anne-C… read more...

Eurozone Loan Growth Does Not Signal Faster Economic Growth

via: SeekingAlpha at 2018-08-28 08:42:11:000

By Bert Colijn, Senior Economist, Eurozone While not bad on the surface, monetary developments in July disappointed a little after a strong June. Loan growth to both households and corporations stalled, providing only weak support to GDP growth in the months ahead. While the pace of … read more...

Economic Surprises Improving In The Eurozone, Deteriorating In The U.S.

via: SeekingAlpha at 2018-08-28 03:05:52:000

Recently, the Citi Economic Surprise Index for the eurozone has started to improve, while the Citi Economic Surprise Index for the US has slipped into negative territory. As shown in the first chart below, we show the relative surge in eurozone data surprise versus the US. Historically, that's… read more...

Improved Corporate Governance In Europe Could Drive Returns

via: SeekingAlpha at 2018-08-27 10:07:43:000

By Benjamin Segal, CFA, Head of Global Equity Team While European equity markets outpaced much of the developed market competition in 2017, a bout of global volatility in the first half of 2018 dampened their momentum. This sluggishness likely will be temporary, however, as valuations appe… read more...

A Dog Day Of Summer

via: SeekingAlpha at 2018-08-27 07:31:22:000

Last week's dollar losses were initially extended in Asia before it came back bid. The euro briefly poked through $1.1650 for the first time in three weeks. However, the gains were sold into, and the euro finished the Asian session near $1.16, where there is a 782 million euro option expiri… read more...

Flash Eurozone PMI Signals Steady Expansion But Optimism Hits 2-Year Low

via: SeekingAlpha at 2018-08-26 07:43:30:000

Flash PMI survey data indicated that the eurozone economy continued to grow in August, albeit with the rate of expansion remaining one of the weakest seen over the past year-and-a-half. Companies' expectations of future growth meanwhile slipped to the lowest for nearly two years. Steady thir… read more...

Merkel, European Autonomy, And The ECB

via: SeekingAlpha at 2018-08-23 11:06:11:000

Merkel has again shown herself to be more wily than most. While pundits, investors, and politicians anticipated she would push hard for a German to replace Draghi as ECB President when his term ends next October. After all, it is German's turn at the helm, and its interests were ridden rough… read more...

Merkel, European Autonomy, And The ECB

via: SeekingAlpha at 2018-08-23 11:06:11:000

Merkel has again shown herself to be more wily than most. While pundits, investors, and politicians anticipated she would push hard for a German to replace Draghi as ECB President when his term ends next October. After all, it is German's turn at the helm, and its interests were ridden rough… read more...

Merkel, European Autonomy, And The ECB

via: SeekingAlpha at 2018-08-23 11:06:11:000

Merkel has again shown herself to be more wily than most. While pundits, investors, and politicians anticipated she would push hard for a German to replace Draghi as ECB President when his term ends next October. After all, it is German's turn at the helm, and its interests were ridden rough… read more...

Eurozone PMI Ticks Up In August

via: SeekingAlpha at 2018-08-23 06:34:13:000

By Bert Colijn, Senior Economist, Eurozone The eurozone PMI increased marginally from 54.3 to 54.4 in August, confirming a solid pace for the eurozone economy in 3Q. The PMI indicated output growth in both industry and services, but the economy has not yet got a second wind. New or… read more...

Eurozone PMI Ticks Up In August

via: SeekingAlpha at 2018-08-23 06:34:13:000

By Bert Colijn, Senior Economist, Eurozone The eurozone PMI increased marginally from 54.3 to 54.4 in August, confirming a solid pace for the eurozone economy in 3Q. The PMI indicated output growth in both industry and services, but the economy has not yet got a second wind. New or… read more...

Eurozone PMI Ticks Up In August

via: SeekingAlpha at 2018-08-23 06:34:13:000

By Bert Colijn, Senior Economist, Eurozone The eurozone PMI increased marginally from 54.3 to 54.4 in August, confirming a solid pace for the eurozone economy in 3Q. The PMI indicated output growth in both industry and services, but the economy has not yet got a second wind. New or… read more...

Sweden: How Long Can The Good Times Last?

via: SeekingAlpha at 2018-08-22 08:19:39:000

By Jonas Goltermann, Developed Market Economist The Swedish economy has held up surprisingly well in the first half of 2018. We still think a slowdown is coming though. Growth has remained strong For some time now, we and most other forecasters have been expecting the Swedish econo… read more...

Markets Take U.S. Political Developments In Stride

via: SeekingAlpha at 2018-08-22 07:37:37:000

News that President Trump's personal lawyer claimed he was instructed by the candidate to commit a federal crime and, separately, that the former campaign manager was found guilty on eight counts is hardly impacting the global capital markets. The dollar is narrowly mixed in consolidativ… read more...

EU Celebrates An End To Greek Aid As An Italian Storm Looms

via: SeekingAlpha at 2018-08-22 02:25:26:000

Monday marked the day that Greece finally emerged from eight years of tutelage under an International Monetary Fund ((IMF))-European Union economic adjustment program. This is giving rise to celebrations in some official quarters in Europe that finally the euro crisis is over. As an example, K… read more...

The ECB's Twisting Time Is Here

via: SeekingAlpha at 2018-08-19 14:13:03:000

The ECB has adopted a more circumspect attitude to its announced intention and capability to end QE later this year. It has also inserted an option to prolong the process should it need to do so. Current conditions precedent suggest that the ECB may now have to avail itself of this option. T… read more...

The ECB's Twisting Time Is Here

via: SeekingAlpha at 2018-08-19 14:13:03:000

The ECB has adopted a more circumspect attitude to its announced intention and capability to end QE later this year. It has also inserted an option to prolong the process should it need to do so. Current conditions precedent suggest that the ECB may now have to avail itself of this option. T… read more...

The ECB's Twisting Time Is Here

via: SeekingAlpha at 2018-08-19 14:13:03:000

The ECB has adopted a more circumspect attitude to its announced intention and capability to end QE later this year. It has also inserted an option to prolong the process should it need to do so. Current conditions precedent suggest that the ECB may now have to avail itself of this option. T… read more...

5 Traps In The Week Ahead

via: SeekingAlpha at 2018-08-19 12:19:54:000

Turkey: Officials have taken steps to make it more difficult and more expensive to short the lira, but that did not prevent a 5% slide ahead of the weekend. There is no interest rate, within reason, that can compensate for such currency risk. When S&P cut its sovereign credit rating to… read more...

5 Traps In The Week Ahead

via: SeekingAlpha at 2018-08-19 12:19:54:000

Turkey: Officials have taken steps to make it more difficult and more expensive to short the lira, but that did not prevent a 5% slide ahead of the weekend. There is no interest rate, within reason, that can compensate for such currency risk. When S&P cut its sovereign credit rating to… read more...

5 Traps In The Week Ahead

via: SeekingAlpha at 2018-08-19 12:19:54:000

Turkey: Officials have taken steps to make it more difficult and more expensive to short the lira, but that did not prevent a 5% slide ahead of the weekend. There is no interest rate, within reason, that can compensate for such currency risk. When S&P cut its sovereign credit rating to… read more...

STOXX 600 Q2 '18 Earnings Review - A Tale Of Two Sectors

via: SeekingAlpha at 2018-08-17 03:01:48:000

By Tajinder Dhillon With roughly 85% of companies in the STOXX 600 reporting earnings, let's review how 18Q2 earnings season has played out. In my 18Q2 preview, I noted the dominance of the Energy sector largely contributing towards 18Q2 growth expectations. Putting our diversification… read more...

STOXX 600 Q2 '18 Earnings Review - A Tale Of Two Sectors

via: SeekingAlpha at 2018-08-17 03:01:48:000

By Tajinder Dhillon With roughly 85% of companies in the STOXX 600 reporting earnings, let's review how 18Q2 earnings season has played out. In my 18Q2 preview, I noted the dominance of the Energy sector largely contributing towards 18Q2 growth expectations. Putting our diversification… read more...

Risk Appetite Boosted By Higher Yuan Fix

via: SeekingAlpha at 2018-08-17 01:51:23:000

By Andrew Robinson Yuan fixed higher for first time in seven days At this morning's yuan fix, the People's Bank of China strengthened the yuan for the first time in seven days, moving the mid-rate to 6.8894 from 6.8946 yesterday. Despite the fix, USD/CNH rose marginally on the day, up 0…. read more...

Risk Appetite Boosted By Higher Yuan Fix

via: SeekingAlpha at 2018-08-17 01:51:23:000

By Andrew Robinson Yuan fixed higher for first time in seven days At this morning's yuan fix, the People's Bank of China strengthened the yuan for the first time in seven days, moving the mid-rate to 6.8894 from 6.8946 yesterday. Despite the fix, USD/CNH rose marginally on the day, up 0…. read more...

Key Events In Developed Markets Next Week

via: SeekingAlpha at 2018-08-10 10:53:08:000

By Carsten Brzeski, Chief Economist ING Germany ; James Smith, Developed Markets Economist and Jonas Goltermann, Developed Market Economist In developed markets, UK data has a big week ahead with growth expected to come in as another headache for the Bank of England. We al… read more...

Key Events In Developed Markets Next Week

via: SeekingAlpha at 2018-08-10 10:53:08:000

By Carsten Brzeski, Chief Economist ING Germany ; James Smith, Developed Markets Economist and Jonas Goltermann, Developed Market Economist In developed markets, UK data has a big week ahead with growth expected to come in as another headache for the Bank of England. We al… read more...

Key Events In Developed Markets Next Week

via: SeekingAlpha at 2018-08-10 10:53:08:000

By Carsten Brzeski, Chief Economist ING Germany ; James Smith, Developed Markets Economist and Jonas Goltermann, Developed Market Economist In developed markets, UK data has a big week ahead with growth expected to come in as another headache for the Bank of England. We al… read more...

Key Events In Developed Markets Next Week

via: SeekingAlpha at 2018-08-10 10:53:08:000

By Carsten Brzeski, Chief Economist ING Germany ; James Smith, Developed Markets Economist and Jonas Goltermann, Developed Market Economist In developed markets, UK data has a big week ahead with growth expected to come in as another headache for the Bank of England. We al… read more...

Key Events In Developed Markets Next Week

via: SeekingAlpha at 2018-08-10 10:53:08:000

By Carsten Brzeski, Chief Economist ING Germany ; James Smith, Developed Markets Economist and Jonas Goltermann, Developed Market Economist In developed markets, UK data has a big week ahead with growth expected to come in as another headache for the Bank of England. We al… read more...

Global Viewpoints: Sovereign Debt - ECB Shifts Monetary Policy Tactics As Bank Of Japan Stands Pat

via: SeekingAlpha at 2018-08-08 06:41:29:000

By Ryan Myerberg In the second of a four-part series, Portfolio Manager Ryan Myerberg outlines expectations for monetary policy at the European Central Bank and Bank of Japan. While the European Central Bank has signaled an end to its asset-buying program, the Bank of Japan is expected… read more...

Global Viewpoints: Sovereign Debt - ECB Shifts Monetary Policy Tactics As Bank Of Japan Stands Pat

via: SeekingAlpha at 2018-08-08 06:41:29:000

By Ryan Myerberg In the second of a four-part series, Portfolio Manager Ryan Myerberg outlines expectations for monetary policy at the European Central Bank and Bank of Japan. While the European Central Bank has signaled an end to its asset-buying program, the Bank of Japan is expected… read more...

Italian Crisis May Make Greece's Look Benign By Comparison

via: SeekingAlpha at 2018-08-07 02:26:09:000

As the world's major central banks seem anxious to normalize monetary policy, there is one important factor that they are overlooking. It is that well before year-end, their plans to raise interest rates and to temper their asset-buying programs could be upended by an economic and financial ma… read more...

Refugees Fleeing To Spain Surpass Italy And Greece

via: SeekingAlpha at 2018-08-06 15:18:28:000

As official action seeks to address the flood of refugees into Greece and Italy bite, the pressure has been deflected to Spain. According to the UN High Commissioner for Refugees, 24k undocumented refugees have entered Spain this year. There were 28.4k all of last year. Refugees going to Ita… read more...

Is The Trend Toward ETFs In Europe Over?

via: SeekingAlpha at 2018-08-06 05:58:09:000

By Detlef Glow The fund ecosystem in Europe has become accustomed to new all-time highs and exceptional growth rates in the European ETF industry. But it is not surprising that some market observers are starting to ask whether the trend toward ETFs in Europe is now over, since ETF flows ha… read more...

The Race We All Lose

via: SeekingAlpha at 2018-08-04 07:31:45:000

By Jeffrey P. Snider In October 2015, former Federal Reserve Chairman Ben Bernanke took to the pages of the Wall Street Journal . Pedigree matters, a fact easily established by how easy it is for central bankers and former central bankers to have their thoughts published in any mainstre… read more...

The Race We All Lose

via: SeekingAlpha at 2018-08-04 07:31:45:000

By Jeffrey P. Snider In October 2015, former Federal Reserve Chairman Ben Bernanke took to the pages of the Wall Street Journal . Pedigree matters, a fact easily established by how easy it is for central bankers and former central bankers to have their thoughts published in any mainstre… read more...

Dollar Higher Ahead Of Fed Meeting OANDA Market Beat Podcast

via: SeekingAlpha at 2018-08-01 02:28:29:000

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Joining him this week is OANDAs Vice President of Research Dean Popplewell. Topics discussed… read more...

Dollar Higher Ahead Of Fed Meeting OANDA Market Beat Podcast

via: SeekingAlpha at 2018-08-01 02:28:29:000

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Joining him this week is OANDAs Vice President of Research Dean Popplewell. Topics discussed… read more...

Dollar Higher Ahead Of Fed Meeting OANDA Market Beat Podcast

via: SeekingAlpha at 2018-08-01 02:28:29:000

OANDA Senior Market Analyst Alfonso Esparza reviews the major upcoming market news, macro analysis and economic indicator releases that will impact currencies, stocks other asset classes. Joining him this week is OANDAs Vice President of Research Dean Popplewell. Topics discussed… read more...

Trump-Conte Meeting: More Political Theater

via: SeekingAlpha at 2018-07-30 13:25:21:000

The highly touted trade truce between the US and Europe was political theater at its best. Europe will continue what it had been doing. With US soy being priced out of the Chinese market, the PRC imports more soy from Brazil. European soy buyers may be displaced and may turn to the US…. read more...

Trump-Conte Meeting: More Political Theater

via: SeekingAlpha at 2018-07-30 13:25:21:000

The highly touted trade truce between the US and Europe was political theater at its best. Europe will continue what it had been doing. With US soy being priced out of the Chinese market, the PRC imports more soy from Brazil. European soy buyers may be displaced and may turn to the US…. read more...

KKR Insights Global Macro Trends: New Playbook Required

via: SeekingAlpha at 2018-07-30 03:38:27:000

Read more … read more...

KKR Insights Global Macro Trends: New Playbook Required

via: SeekingAlpha at 2018-07-30 03:38:27:000

Read more … read more...

Weekly Commentary: Latent Fragilities

via: SeekingAlpha at 2018-07-29 05:27:49:000

I have a rather simple Bubble definition: "A self-reinforcing but inevitably unsustainable inflation." Most Bubble discussions center on the deflating rather than the inflating phase. A focus of my analysis is the progressively powerful dynamics that fuel Bubble excess, along with attendant di… read more...

Macro Musings Podcast: Ashoka Mody On The Origins Of The Euro And The Euro Crisis

via: SeekingAlpha at 2018-07-29 05:23:31:000

Ashoka Mody is a professor of international economic policy at Princeton University and formerly worked at the IMF and the World Bank. He joins the show today to discuss his new book, *EuroTragedy: A Drama in Nine Acts*. David and Ashoka also delve deep into the history of the Euro, as they … read more...

'Twisting' Draghi's Advice To Prepare For The Next Eurozone Slowdown

via: SeekingAlpha at 2018-07-28 03:41:10:000

At his latest press conference, ECB President Mario Draghi advised his audience to prepare for the end of QE and also for the next economic slowdown. Audience attention was more focused on the former, assuming that his successor will "do whatever it takes" in the event of the latter. Just … read more...

Manager Q&A: Outlook On European Equities

via: SeekingAlpha at 2018-07-27 01:38:22:000

Q: Are you expecting a slowdown of the European economy as we are heading into 2019? A: I think this is less of a slowdown, more of a cruising speed. If there is to be a slowdown, it is more likely to occur this year as orders slow in the auto industry and last years rise in the … read more...

ECB Sticks To Its Knitting, No Surprises

via: SeekingAlpha at 2018-07-26 09:49:07:000

Little has taken place since the June 14 ECB meeting that requires a shift in the official stance. Rates and guidance were left unchanged. The deposit rate remains at minus 0.4%, and there is no intention to raise it until after next summer. The current 30 bln euro of monthly asset purchas… read more...

Equities Like EU-U.S. Trade Truce More Than The Euro

via: SeekingAlpha at 2018-07-26 08:00:44:000

The markets generated a collective sigh when Juncker and Trump announced that there would be no new tariffs while new trade negotiations took place. This was particularly important because Trump reportedly wanted to press ahead with a 25% tariff on car imports. It was also announced that the… read more...

Closer To OCA Criteria: Eurozone Or Dollarzone?

via: SeekingAlpha at 2018-07-26 07:14:14:000

This is a quick follow-up to my recent article on the Eurozone. There I argued for more integration or separation in the Eurozone since ECB monetary policy is pushing regional economies further apart rather than together. I showed a version of the below chart in the article to illustrate thi… read more...

Perspectives On Global Equities

via: SeekingAlpha at 2018-07-26 01:38:11:000

CEFA is joined by Noel OHalloran, Chief Investment Officer with KBI Global Investors and Portfolio Manager of The New Ireland Fund, and Jonathan Morgan, President and CEO of Canadian General Investments Limited. The following Q&A recaps the conversation that originally took place a… read more...

U.S. 2-Year Premium Grows And Outlook For G3 Central Banks

via: SeekingAlpha at 2018-07-25 21:33:48:000

A cry was heard last week when President Trump expressed displeasure with the Fed's rate hikes. Some, like former Treasury Secretary Lawrence Summers, claimed that this was another step toward becoming a "banana republic." Jeffrey Sachs, another noted economist, claimed that "American democr… read more...

The U.S. And Germany Should Heed The IMF's Advice

via: SeekingAlpha at 2018-07-25 06:41:46:000

Today, the IMF released a refreshing report analyzing the world's external imbalances and offering advice as to how those imbalances might best be cured. The timing of this report could not be more propitious. It comes on the very eve of European Commission President Jean-Claude Junker's vis… read more...

Euro-U.S. Dollar: The Sway Of Politics And The Economics

via: SeekingAlpha at 2018-07-25 04:06:58:000

By Erik Norland The contrast between the state of Europe's economy and the state of its politics could hardly be starker. Despite some evidence of a slight moderation in the pace of growth, Europe's economy continues to improve even as political situations in Germany, Italy and Spain becom… read more...

Letting Off Steam But Still Boiling

via: SeekingAlpha at 2018-07-25 02:20:39:000

The Intech Equity Market Stress Monitor saw modest improvements last quarter, but extreme conditions signal more volatility to come. Key Takeaways Most major market indices are still showing signs of instability, according to the July 2018 Intech report. European equity ma… read more...

Trade Wars: A Worldwide Web Of Worry

via: SeekingAlpha at 2018-07-24 20:19:58:000

Posted by Kristina Hooper, Chief Global Market Strategist on Jul 23, 2018, in Market & Economic Weekly Market Compass: Concern grows about the impact of tariffs on the global economy. Global stocks have been in positive territory thus far in July, with even emerging mar… read more...

Where To Invest Your Money Today (Part 1 Of 2)

via: SeekingAlpha at 2018-07-24 20:06:43:000

Jordan Roy-Byrne: Hello again everyone, welcome back to the Atlas Investor podcast with Tiho Brkan. This is episode number 18. Tiho, my friend, it's great to speak with you again today. I understand we're going to be doing a two-part podcast. Today will be the first part of that. Please … read more...

Global Economic Perspective: July

via: SeekingAlpha at 2018-07-24 06:14:56:000

By Christopher J. Molumphy, CFA Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income Group; David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group; John Beck Director of Fixed Income, London Senior Vice P… read more...

International Economic Week In Review For July 16-20

via: SeekingAlpha at 2018-07-22 07:56:30:000

Earlier this month, the IMF released its revised World Economic Outlook . While the release is moderately dated, I want to look at it in today's column because it contains a number of salient points. Growth projections have been revised down for the euro area, Japan, and the United Kingdo… read more...

International Economic Week In Review For July 16-20

via: SeekingAlpha at 2018-07-22 07:56:30:000

Earlier this month, the IMF released its revised World Economic Outlook . While the release is moderately dated, I want to look at it in today's column because it contains a number of salient points. Growth projections have been revised down for the euro area, Japan, and the United Kingdo… read more...

ECB Preview: The Meaning Of Summer

via: SeekingAlpha at 2018-07-19 07:00:45:000

By Carsten Brzeski, Chief Economist ING Germany For next weeks meeting, some ECB veterans might long for the good old days when the bank's summer meeting was held in the form of a teleconference. With little news, ECB President Mario Draghi will simply reiterate the main message… read more...

ECB Preview: The Meaning Of Summer

via: SeekingAlpha at 2018-07-19 07:00:45:000

By Carsten Brzeski, Chief Economist ING Germany For next weeks meeting, some ECB veterans might long for the good old days when the bank's summer meeting was held in the form of a teleconference. With little news, ECB President Mario Draghi will simply reiterate the main message… read more...

ECB Preview: The Meaning Of Summer

via: SeekingAlpha at 2018-07-19 07:00:45:000

By Carsten Brzeski, Chief Economist ING Germany For next weeks meeting, some ECB veterans might long for the good old days when the bank's summer meeting was held in the form of a teleconference. With little news, ECB President Mario Draghi will simply reiterate the main message… read more...

Italian Economics: Watch Salvini

via: SeekingAlpha at 2018-07-18 08:10:52:000

By Christopher Gannatti, CFA, Head of Research, Europe, and Jeff Weniger, CFA, Asset Allocation Strategist In April, the Italian public was so incensed by the country's broken government budget, endemic graft and unaffordable inward migration that half of the general election vote went to … read more...

The Future Of The Eurozone

via: SeekingAlpha at 2018-07-17 06:14:45:000

So we are live at NRO discussing the future of the Eurozone: Albert Einstein is rumored to have quipped that doing the same thing over and over again and expecting different results is the definition of insanity. If he were alive today, Einstein might say this is the definition of some ke… read more...

Investing Amid Brexit Uncertainty

via: SeekingAlpha at 2018-07-17 06:03:23:000

Key points We see the road ahead for Brexit negotiations as rocky, and investors in UK assets should expect a bumpy ride as UK-EU talks unfold. Equities rose and stock market volatility fell despite escalating global trade tensions. The U.S. dollar strengthened and commodity prices fell…. read more...

Macro Musings Podcast: Mark Copelovitch On The Political Economy Of The Global Recession And The Eurozone Crisis

via: SeekingAlpha at 2018-07-17 03:53:39:000

Mark Copelovitch is an associate professor of political science at the University of Wisconsin-Madison and studies the politics of international trade, money, and finance. He joins the show today to discuss the politics of the global recession and the Eurozone Crisis. David and Mark dive deep… read more...

Market Update: The Trump/Putin Impact

via: SeekingAlpha at 2018-07-16 17:48:42:000

By OpenMarkets Jack Bouroudjian discusses the three issues on the front burner for markets this week: The Trump-Putin meeting, Jay Powells remarks at the European Central Banking Forum, and earnings coming this Read more … read more...

Why The Stock Market Hasn't Buckled Under The Trade Tensions

via: SeekingAlpha at 2018-07-16 11:48:51:000

The stock market has wobbled and there have been days when the downdraft was significant and coinciding with escalations or perceived escalations in the multiple trade tensions that the present US government is engaged with. However, stocks have rallied back, the Nasdaq in particular (it's a… read more...

Eurozone: Exports Add To Short-Term Growth Optimism

via: SeekingAlpha at 2018-07-16 06:11:47:000

By Carsten Brzeski, Chief Economist ING Germany With the third consecutive monthly increase, Eurozone exports suggest continued stable growth in the economy. However, lets not forget this was the last relic of a pre-tariff world In the last month in a European trade world… read more...

STOXX 600 18Q2 Earnings Preview - Where Is The Growth Coming From?

via: SeekingAlpha at 2018-07-14 06:22:17:000

By Tajinder Dhillon Surprised to learn that 5 companies are responsible for driving 67% of the overall 18Q2 STOXX 600 EPS growth rate? Read on… As we head into Q2 earnings season, let's take a closer look at growth expectations for the STOXX 600. We are seeing exceptional EPS and Reven... read more...

STOXX 600 18Q2 Earnings Preview - Where Is The Growth Coming From?

via: SeekingAlpha at 2018-07-14 06:22:17:000

By Tajinder Dhillon Surprised to learn that 5 companies are responsible for driving 67% of the overall 18Q2 STOXX 600 EPS growth rate? Read on… As we head into Q2 earnings season, let's take a closer look at growth expectations for the STOXX 600. We are seeing exceptional EPS and Reven... read more...

Eurozone: ECB Minutes Show Broad Support For Dovish Tapering

via: SeekingAlpha at 2018-07-13 02:14:10:000

By Carsten Brzeski, Chief Economist ING Germany Strong growth and gradually increasing inflationary pressure comforted the ECBs June decision to announce a de-facto end to QE The minutes of the ECB's June meeting show that there was broad agreement within the ECB to prepa… read more...

Could Italy Really Leave The Euro?

via: SeekingAlpha at 2018-07-11 23:46:54:000

Ever since a new parliamentary government took power in Italy at the beginning of June, there has been increasing speculation as to whether Italy could leave the euro. However, does this concern simply make for a good media story, or is there actual credibility behind it? It is no secret… read more...

5 Risks That Could Affect Fixed Income Markets

via: SeekingAlpha at 2018-07-11 18:16:44:000

Posted by Rob Waldner, Chief Strategist and Head of Multi-Sector on July 10, 2018, in Fixed Income Invesco Fixed Income is positive on fundamentals for the rest of this year. Global growth is solid and inflation is tame. As central banks have pivoted away from stimulus, tighte… read more...

4 Crucial Questions For Eurozone Leaders To Answer

via: SeekingAlpha at 2018-07-11 08:54:03:000

By Mark Cliffe, Chief Economist European leaders made little progress in answering profound questions about the Eurozone's future at their June summit. But ensuring economic sustainability should be a priority, says ING's Chief Economist, Mark Cliffe. German Chancellor Angela Merk… read more...

When Sentiment Shifts

via: SeekingAlpha at 2018-07-11 06:35:23:000

Like all sentiment surveys, Germany's ZEW is susceptible to overzealousness on the part of the survey participants. The Zentrum fr Europische Wirtschaftsforschung is a think tank located in Manheim that has since 1991 carried out this broad questionnaire. Up to 350 analysts are inc… read more...

Fed And ECB Risk Being Caught Off Guard

via: SeekingAlpha at 2018-07-10 05:30:30:000

Tightening ignores troubles in emerging markets and Italy In 2008, both the Federal Reserve and European Central Bank were caught off guard by the Lehman Brothers bankruptcy that led to the worst global economic recession in the postwar period. Judging by their respective decisions on 14 Jun… read more...

Downgrading Europe And Japan

via: SeekingAlpha at 2018-07-10 03:16:19:000

Key points We like equities but favor cutting risk exposure as uncertainty rises. We have downgraded our lowest-conviction equity views: Europe and Japan. Global equity funds posted a third straight week of net outflows. Global equities stabilized. Defensive sectors outperformed. Asian s… read more...

International Economic Week For July 2-6

via: SeekingAlpha at 2018-07-09 08:44:04:000

This week, the only news from the EU was the Markit surveys. The manufacturing number was up modestly; it rose .2 to 53. New orders, production, and employment all rose. But supply times increased, indicating increased pressure. And overseas orders dropped, which shows that the trade war issue… read more...

Investing Opportunities In Europe Amidst A Changing Global Economy

via: SeekingAlpha at 2018-07-06 09:46:45:000

The following Q&A is from a discussion that originally took place as part of a podcast series on May 22, 2018. Joined by Gerd Kirsten, CFA, Portfolio Manager, The European Equity Fund, we discuss investment trends and opportunities in the European market. Transcript Speaker 1: … read more...

Investing Opportunities In Europe Amidst A Changing Global Economy

via: SeekingAlpha at 2018-07-06 09:46:45:000

The following Q&A is from a discussion that originally took place as part of a podcast series on May 22, 2018. Joined by Gerd Kirsten, CFA, Portfolio Manager, The European Equity Fund, we discuss investment trends and opportunities in the European market. Transcript Speaker 1: … read more...

Investing Opportunities In Europe Amidst A Changing Global Economy

via: SeekingAlpha at 2018-07-06 09:46:45:000

The following Q&A is from a discussion that originally took place as part of a podcast series on May 22, 2018. Joined by Gerd Kirsten, CFA, Portfolio Manager, The European Equity Fund, we discuss investment trends and opportunities in the European market. Transcript Speaker 1: … read more...

Eurozone: The ECB Takes It Slowly

via: SeekingAlpha at 2018-07-06 08:30:56:000

By Carsten Brzeski, Chief Economist ING Germany After a strong 2017, political instability and trade tensions within the eurozone are pointing towards more moderate growth rates for 2018. The ECB is looking through mixed messages on the economy Political tensions have ebbed awa… read more...

Eurozone: The ECB Takes It Slowly

via: SeekingAlpha at 2018-07-06 08:30:56:000

By Carsten Brzeski, Chief Economist ING Germany After a strong 2017, political instability and trade tensions within the eurozone are pointing towards more moderate growth rates for 2018. The ECB is looking through mixed messages on the economy Political tensions have ebbed awa… read more...

Eurozone: The ECB Takes It Slowly

via: SeekingAlpha at 2018-07-06 08:30:56:000

By Carsten Brzeski, Chief Economist ING Germany After a strong 2017, political instability and trade tensions within the eurozone are pointing towards more moderate growth rates for 2018. The ECB is looking through mixed messages on the economy Political tensions have ebbed awa… read more...

Short And Sharp - Trade War: Europe Starts To Feel The Pain

via: SeekingAlpha at 2018-07-06 01:56:43:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Six months ago, the future looked bright for Europe. But the growth picture has deteriorated, and trade war risks have grown. China may be the focal point of Trump's trade wrath, but Europe will not get off lightly. … read more...

Short And Sharp - Trade War: Europe Starts To Feel The Pain

via: SeekingAlpha at 2018-07-06 01:56:43:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Six months ago, the future looked bright for Europe. But the growth picture has deteriorated, and trade war risks have grown. China may be the focal point of Trump's trade wrath, but Europe will not get off lightly. … read more...

Short And Sharp - Trade War: Europe Starts To Feel The Pain

via: SeekingAlpha at 2018-07-06 01:56:43:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Six months ago, the future looked bright for Europe. But the growth picture has deteriorated, and trade war risks have grown. China may be the focal point of Trump's trade wrath, but Europe will not get off lightly. … read more...

Where Next For Central Banks?

via: SeekingAlpha at 2018-07-05 07:00:00:000

By the economics team at www.ING.com/THINK Federal Reserve: A steady climb The Federal Reserve is sticking to its 'gradual' policy normalisation plan, which essentially means a rate hike every quarter. However, in the near term, the balance of risks is skewed towards swifter action… read more...

Germany: Finally Some Positive News

via: SeekingAlpha at 2018-07-05 06:58:25:000

By Carsten Brzeski, Chief Economist ING Germany German new orders finally showed some signs of life in May, providing more evidence that the economy could rebound during the second half of the year. This one was hard to miss. After four consecutive drops and the worst performance sin… read more...

The Big Brexit Rethink

via: SeekingAlpha at 2018-07-05 06:30:37:000

By James Smith, Developed Markets Economist On Friday, UK Prime Minister Theresa May will attempt to persuade her ministers to rally around a new direction for Brexit. But will they, or indeed the EU, accept these proposals? And even if the answer is 'yes,' is the plan good enough for … read more...

Europe Headed For Great Depression 2.0?

via: SeekingAlpha at 2018-07-03 07:28:22:000

Editor's note: Seeking Alpha is proud to welcome ESI Analytics Limited as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more In… read more...

Europe Headed For Great Depression 2.0?

via: SeekingAlpha at 2018-07-03 07:28:22:000

Editor's note: Seeking Alpha is proud to welcome ESI Analytics Limited as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more In… read more...

Germany's Merkel reaches deal with coalition partner on migration

via: SeekingAlpha at 2018-07-02 17:25:35:000

Germany Chancellor Merkel reaches an agreement for tighter control over immigration with her Christian Social Union coalition partner, led by interior minister Horst Seehofer. More news on: Invesco CurrencyShares Euro Trust ETF, Vanguard FTSE Europe ETF, ProShares UltraShort Euro ETF, Gl… read more...

OANDA Market Insights Podcast - Episode 21

via: SeekingAlpha at 2018-07-01 01:57:00:000

OANDA Senior Market Analyst, Craig Erlam reviews the week's business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week's big stories: EU summit deal boosts Euro, surprise upgrade for UK GDP, Shares recover early week wobble, John Lewis to close Read more … read more...

Eurozone Inflation At 2%, But Core Inflation Should Worry The ECB

via: SeekingAlpha at 2018-06-29 10:51:25:000

By Bert Colijn, Senior Economist, Eurozone Headline inflation is on target, but the drop in core inflation to just 1% in June reveals there is still plenty for the ECB to chew on in the months ahead With the energy price index increasing 8% year on year, the increase in headline in… read more...

Eurozone Inflation At 2%, But Core Inflation Should Worry The ECB

via: SeekingAlpha at 2018-06-29 10:51:25:000

By Bert Colijn, Senior Economist, Eurozone Headline inflation is on target, but the drop in core inflation to just 1% in June reveals there is still plenty for the ECB to chew on in the months ahead With the energy price index increasing 8% year on year, the increase in headline in… read more...

What Will 3Q18 Bring?

via: SeekingAlpha at 2018-06-29 10:29:46:000

By Robert Carnell, Chief Economist Head of Research, Asia-Pacific 2Q18 was a rough one for emerging markets including Asia, but will 3Q be any better? After the rout, what next? Investors licking their wounds after a harrowing second quarter may reasonably be wondering what comes… read more...

What Will 3Q18 Bring?

via: SeekingAlpha at 2018-06-29 10:29:46:000

By Robert Carnell, Chief Economist Head of Research, Asia-Pacific 2Q18 was a rough one for emerging markets including Asia, but will 3Q be any better? After the rout, what next? Investors licking their wounds after a harrowing second quarter may reasonably be wondering what comes… read more...

Challenges For Investors In Q3

via: SeekingAlpha at 2018-06-29 09:14:32:000

The third quarter begins with clarified monetary policy outlooks for the US, EMU, and Japan. At the end of Q2, the Federal Reserve signaled it would likely raise rates in September and December. The unwinding of the balance sheet, though, continues at a rapid pace. In Q3, the Fed will not… read more...

Challenges For Investors In Q3

via: SeekingAlpha at 2018-06-29 09:14:32:000

The third quarter begins with clarified monetary policy outlooks for the US, EMU, and Japan. At the end of Q2, the Federal Reserve signaled it would likely raise rates in September and December. The unwinding of the balance sheet, though, continues at a rapid pace. In Q3, the Fed will not… read more...

Difficult Quarter For Eurozone Stocks

via: SeekingAlpha at 2018-06-29 06:34:16:000

By Bill Witherell, Ph.D., Chief Global Economist & Portfolio Manager Eurozone equity markets have encountered significant headwinds in the second quarter of this year despite continued robust economic growth above estimated potential for most Eurozone economies. The continued strengt… read more...

Difficult Quarter For Eurozone Stocks

via: SeekingAlpha at 2018-06-29 06:34:16:000

By Bill Witherell, Ph.D., Chief Global Economist & Portfolio Manager Eurozone equity markets have encountered significant headwinds in the second quarter of this year despite continued robust economic growth above estimated potential for most Eurozone economies. The continued strengt… read more...

Eurozone Sentiment Broadly Stable In June

via: SeekingAlpha at 2018-06-28 18:58:59:000

By Bert Colijn, Senior Economist, Eurozone After a significant decline in the first quarter, Eurozone economic sentiment stabilised in the second. Threats to growth remain, making a swift bounce back in confidence in the months ahead unlikely The ESI (Economic Sentiment Indicator) … read more...

Jim Puplava: Europe And Emerging Markets Are The Next 2 Major Economic Landmines In The Global Economy

via: SeekingAlpha at 2018-06-28 06:10:17:000

By FS Staff During this in depth 40+ minute interview, Jason asks Jim questions about the following: 1) As someone who has professionally managed money for decades, do you find that the performance of general stock market index funds and ETFs from passive investing is making it hard… read more...

Stronger Eurozone Loan Growth Eases Slowdown Concerns

via: SeekingAlpha at 2018-06-27 06:41:27:000

By Bert Colijn, Senior Economist, Eurozone Faster loan growth to businesses and a higher growth rate of the money supply in May provide some encouragement to the ECB in times of disappointing eurozone data releases. Loan growth to non-financial businesses increased from 3.3% to 3.6… read more...

No Eurozone Country Has Done More 'Austerity' Than Greece

via: SeekingAlpha at 2018-06-27 03:50:50:000

It is often said that Greece is to blame for its own fiscal problems. That to some extent is correct, but no other country in the euro zone has tightened fiscal policy more than Greece since 2011. The real reason for Greece's public finance crisis has been the collapse in nominal GDP since 2… read more...

Italian And Greek Yields Converge

via: SeekingAlpha at 2018-06-27 02:05:37:000

Remember back when Greece was the laughing stock of Europe with its seemingly nonstop economic, political, and debt problems? They aren't laughing as much anymore. Just yesterday, S&P raised its rating on Greek long-term debt, and while the current rating of B+ is still pretty far down t… read more...

4 Scenarios For Eurozone Reform At The EU Summit

via: SeekingAlpha at 2018-06-26 06:33:57:000

By Carsten Brzeski, Chief Economist, ING Germany ; Bert Colijn, Senior Economist, Eurozone Months ago, with plenty of time to prepare for the June EU summit, there were many diverging views, ranging from European dreams to simply saying nein to everything. But as the s… read more...

Doing Whatever It Takes To Get From Sintra To Eurozone Economic Integration

via: SeekingAlpha at 2018-06-25 10:48:23:000

The ECB had a chance to frame itself, as nearly done with its unconventional monetary policy mission. Having bravely seized the initiative, the ECB must now accept that its immediate fate is in the hands of President Trump and Chairman Powell. The fallout from the tractor beam of rising re… read more...

Trade Tensions Weigh On Equities, Lift Yen

via: SeekingAlpha at 2018-06-25 07:25:11:000

Reports confirm that later this week, the US Treasury will announce new curbs on Chinese investment and trade. The US is considering preventing Chinese companies with a 25% (though could be lowered) government stake from buying US companies with industry significant technology. Also, the US… read more...

Flash Eurozone PMI Signals 0.5% GDP Rise In Q2, But Also Hints At Weakening Trend

via: SeekingAlpha at 2018-06-24 07:37:45:000

Flash PMI survey data for June showed business activity regaining some momentum, but failing to fully recover the rate of expansion seen earlier in the year. Forward-looking indicators also hint at growth weakening again as we head into the second half of 2018. Solid second quarter The IHS… read more...

Eurozone PMI Provides Silver Lining To Q2 Performance

via: SeekingAlpha at 2018-06-22 05:52:42:000

By Bert Colijn, Senior Economist, Eurozone The increase in the PMI shows that calendar effects may have overstated the slowdown in May, but it doesn't provide much evidence that the soft patch has ended After dropping to a one-and-a-half year low in May, the eurozone PMI increased to… read more...

Eurozone PMI Provides Silver Lining To Q2 Performance

via: SeekingAlpha at 2018-06-22 05:52:42:000

By Bert Colijn, Senior Economist, Eurozone The increase in the PMI shows that calendar effects may have overstated the slowdown in May, but it doesn't provide much evidence that the soft patch has ended After dropping to a one-and-a-half year low in May, the eurozone PMI increased to… read more...

Sintra +1

via: SeekingAlpha at 2018-06-22 02:46:16:000

Does a year matter? It seems like a sufficient length of time whereby solid conclusions might be reached. While that may be true in a lot of disciplines, it is not so in Economics. Recall that in late June 2017, ECB President Mario Draghi kicked up a minor fury over presumed "hawkish" commen… read more...

Sintra +1

via: SeekingAlpha at 2018-06-22 02:46:16:000

Does a year matter? It seems like a sufficient length of time whereby solid conclusions might be reached. While that may be true in a lot of disciplines, it is not so in Economics. Recall that in late June 2017, ECB President Mario Draghi kicked up a minor fury over presumed "hawkish" commen… read more...

Eurozone Consumer Confidence Drops In June

via: SeekingAlpha at 2018-06-22 02:43:00:000

By Bert Colijn, Senior Economist, Eurozone A disappointing start to the eurozone surveys for this month as consumer confidence drops to -0.5, the lowest reading since October last year. The end to negative surprises for eurozone data has yet to happen. The highs from early this year … read more...

Eurozone Consumer Confidence Drops In June

via: SeekingAlpha at 2018-06-22 02:43:00:000

By Bert Colijn, Senior Economist, Eurozone A disappointing start to the eurozone surveys for this month as consumer confidence drops to -0.5, the lowest reading since October last year. The end to negative surprises for eurozone data has yet to happen. The highs from early this year … read more...

Weaker Growth Signals For The Euro Area

via: SeekingAlpha at 2018-06-22 02:01:34:000

I have not updated Eurocoin dynamics and euro area growth forecasts for some time now, so here is the latest, from May data: Eurocoin, the leading growth indicator for the euro area, has fallen significantly from the local high of 0.96 in February (the highest growth forecast since June 20… read more...

Weaker Growth Signals For The Euro Area

via: SeekingAlpha at 2018-06-22 02:01:34:000

I have not updated Eurocoin dynamics and euro area growth forecasts for some time now, so here is the latest, from May data: Eurocoin, the leading growth indicator for the euro area, has fallen significantly from the local high of 0.96 in February (the highest growth forecast since June 20… read more...

Run Over By A Benz

via: SeekingAlpha at 2018-06-22 00:15:38:000

There was notable news with regard to the market's main risk narrative on Thursday, and I think it's worth documenting it for readers here. When I talk about the "main risk narrative", I'm of course talking about trade tensions. It's getting harder and harder for analysts and officials to do… read more...

Run Over By A Benz

via: SeekingAlpha at 2018-06-22 00:15:38:000

There was notable news with regard to the market's main risk narrative on Thursday, and I think it's worth documenting it for readers here. When I talk about the "main risk narrative", I'm of course talking about trade tensions. It's getting harder and harder for analysts and officials to do… read more...

A Change Under Foot In Europe

via: SeekingAlpha at 2018-06-21 12:18:38:000

It seems perverse and ironic that we frequently learn more from our failures than our successes. This is translated into the affairs of countries by noting that crisis produces reforms. This seems particularly relevant for Europe. It remains a work in progress. EMU was born out of crisis…. read more...

U.S.-E.U. Trade War: Time's Running Out

via: SeekingAlpha at 2018-06-21 07:00:45:000

By Bert Colijn, Senior Economist, Eurozone ; Raoul Leering, Head of International Trade Analysis The EU has until Thursday to stop President Trump from raising tariffs on European steel and aluminium. If current talks fail, higher tariffs will become a reality. The EU will then retali… read more...

Has Political Uncertainty Blown Out This Session?

via: SeekingAlpha at 2018-06-20 14:32:25:000

A recent surf trip got me thinking about the macroeconomic climate and how to profit from it. Timing will make or break your surf session. To maximize the experience, one has to time the tide, the wind, the swell, the crowds, and ultimately, the wave. Get it right and you will be buzzing for d… read more...

Europe's Unsolvable Dilemma?

via: SeekingAlpha at 2018-06-20 10:59:27:000

When a nation has its own currency, it can devalue the currency to end balance of payments deficits or it can re-value its currency to end balance of payments surpluses. That way, a nation can proceed upon its merry way and not have to discipline itself internally so as to keep up with the… read more...

The ECB And FOMC June Meeting: What Have We Learned?

via: SeekingAlpha at 2018-06-20 09:05:57:000

As was widely expected, the Fed delivered its seventh rate hike in the current cycle and raised the Fed funds target range by 25bp to 1.75%-2.00% at their meeting last week. More importantly, the dot plot that represents the median expectations of the 15 FOMC participants and is therefore the … read more...

Central Banks Take Center Stage

via: SeekingAlpha at 2018-06-19 20:14:18:000

Posted by Kristina Hooper, Chief Global Market Strategist on Jun 18, 2018, in Market & Economic Weekly Market Compass: Many major banks are tightening, but trade threatens to disrupt economic progress. Central banks took center stage last week, with a trifecta of major … read more...

Bold Is Beautiful: ECB And Investment Takeaways

via: SeekingAlpha at 2018-06-19 07:37:27:000

By Jeremy Schwartz, CFA, Director of Research President Mario Draghi took a bold stance at the European Central Bank ((ECB)) press conference last Thursday. Not only did Draghi announce the timeframe for ending the asset purchase program in 2018, but he also provided forward guidance on th… read more...

Peter Schiff: A Huge Wave Of Inflation Is Going To Engulf The Planet

via: SeekingAlpha at 2018-06-19 02:29:01:000

By SchiffGold At this point, the European Central Bank isn't nearly as keen on raising interest rates as the Federal Reserve. The ECB announced Thursday it would likely hold its interest rate steady at zero through the summer of 2019. "We decided to keep the key ECB interest rates unchan… read more...

Global Economic Perspective: June

via: SeekingAlpha at 2018-06-19 01:56:25:000

By Christopher J. Molumphy, CFA Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income Group, David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group, John Beck Director of Fixed Income, London Senior Vice P… read more...

Dovish = Uncertain, Therefore Dollar

via: SeekingAlpha at 2018-06-16 13:00:18:000

Back a few months ago when Europe was booming, or at least everyone was sure that this one particular economy was, market futures prices indicated an expectation for the first European rate hike to take place by Q2 2019. That was consistent with the US Federal Reserve's experience as well as h… read more...

Dovish = Uncertain, Therefore Dollar

via: SeekingAlpha at 2018-06-16 13:00:18:000

Back a few months ago when Europe was booming, or at least everyone was sure that this one particular economy was, market futures prices indicated an expectation for the first European rate hike to take place by Q2 2019. That was consistent with the US Federal Reserve's experience as well as h… read more...

Dovish = Uncertain, Therefore Dollar

via: SeekingAlpha at 2018-06-16 13:00:18:000

Back a few months ago when Europe was booming, or at least everyone was sure that this one particular economy was, market futures prices indicated an expectation for the first European rate hike to take place by Q2 2019. That was consistent with the US Federal Reserve's experience as well as h… read more...

European Central Bank Plans To Wind Down Quantitative Easing

via: SeekingAlpha at 2018-06-16 00:57:11:000

By Reine Bitar, CFA, Macro Analyst on Jun 14, 2018, in Fixed Income The European Central Bank ((ECB)) communicated its plan today to wind down its asset purchase program (quantitative easing, or QE) by the end of this year. The ECB announced it would begin a three-month period of… read more...

European Central Bank Plans To Wind Down Quantitative Easing

via: SeekingAlpha at 2018-06-16 00:57:11:000

By Reine Bitar, CFA, Macro Analyst on Jun 14, 2018, in Fixed Income The European Central Bank ((ECB)) communicated its plan today to wind down its asset purchase program (quantitative easing, or QE) by the end of this year. The ECB announced it would begin a three-month period of… read more...

European Central Bank Plans To Wind Down Quantitative Easing

via: SeekingAlpha at 2018-06-16 00:57:11:000

By Reine Bitar, CFA, Macro Analyst on Jun 14, 2018, in Fixed Income The European Central Bank ((ECB)) communicated its plan today to wind down its asset purchase program (quantitative easing, or QE) by the end of this year. The ECB announced it would begin a three-month period of… read more...

Parsing The ECB's Statement

via: SeekingAlpha at 2018-06-15 14:17:54:000

The Fed is not the only central bank to issue policy guidance this week; we also have the ECB and Bank of Japan on tap. The ECB maintained their current rate posture at their meeting today. Third, we decided to keep the key ECB interest rates unchanged and we expect them to remain a… read more...

ECB Meeting: Fresh Clarity, But Let's Not Get Ahead Of Ourselves

via: SeekingAlpha at 2018-06-15 03:41:11:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group The European Central Bank's June meeting has offered some long-hoped-for clarity on the future direction of monetary policy in the eurozone. However, it hasn't provided all … read more...

Official Production Data Likely Overstate Eurozone Manufacturing Soft Patch

via: SeekingAlpha at 2018-06-14 09:48:32:000

Survey and official data have diverged in terms of the health of the euro area manufacturing sector. An analysis of historical comparisons indicates that the official numbers are likely overstating the extent of recent weakness, and production continues to expand, though all sources suggest th… read more...

Euro Craters After Hawkish ECB

via: SeekingAlpha at 2018-06-14 09:31:53:000

It is like deja vu all over again. Yesterday hawkish Fed saw the dollar rally and then reverse lower. A hawkish ECB saw the euro make a new session high and then turned around and traded below yesterday's lows. The ECB meeting was never live in the sense that it was going to change inte… read more...

Fed Hikes - Puts A Glossy Spin On The Economy

via: SeekingAlpha at 2018-06-14 09:04:12:000

By Robert Carnell, Chief Economist Head of Research, Asia-Pacific 25bp hike was expected - but there are some worrying aspects of this meeting… ECB next "Bob, I got a bad feeling on this one, alright? I mean I got a bad feeling!" No prizes for googling the quote above from Oliver... read more...

Italy's Silent Bank Run

via: SeekingAlpha at 2018-06-13 01:53:35:000

On Wall Street, it is said of Italy that it is too big to be allowed to fail, if the euro is to survive in anything like its present form. However, it is also said that Italy is too big for Europe to bailout in the sense that it would be too large a drain on the eurozone's resources. As if t… read more...

Macro Musings Podcast: Brian Blackstone On The ECB And The Swiss Referendum On Sovereign Money

via: SeekingAlpha at 2018-06-12 02:30:53:000

Brian Blackstone is a Switzerland bureau chief for the Wall Street Journal and previously covered the European Central Bank from the Wall Street Journals Frankfurt office as well as the Federal Reserve during the financial crisis. He joins the show today to talk about the Swiss refer… read more...

OANDA Market Insights With Jazz FM - 8 June 2018

via: SeekingAlpha at 2018-06-10 03:10:16:000

OANDA Senior Market Analyst Craig Erlam and Jazz FM Business Breakfast presenter Jonny Hart look back at the weeks business and market news. This weeks big stories: G7 talks weigh on markets, sterling falls on Brexit proposals, ECB remarks hit Read more … read more...

OANDA Market Insights With Jazz FM - 8 June 2018

via: SeekingAlpha at 2018-06-10 03:10:16:000

OANDA Senior Market Analyst Craig Erlam and Jazz FM Business Breakfast presenter Jonny Hart look back at the weeks business and market news. This weeks big stories: G7 talks weigh on markets, sterling falls on Brexit proposals, ECB remarks hit Read more … read more...

Busy Week Ahead

via: SeekingAlpha at 2018-06-09 16:56:29:000

The week ahead is eventful. The Federal Reserve, the European Central Bank, and the Bank of Japan hold policy meetings. This would make for a busy week by themselves, but there is more. Trade tensions are likely to escalate further if the US, as scheduled, provides a list of $50 billion of… read more...

Is A Global Trade War Brewing?

via: SeekingAlpha at 2018-06-09 10:02:45:000

On a special podcast edition of Market Week in Review, Senior Investment Strategist Paul Eitelman and Consulting Director Sophie Antal Gilbert discussed trade war fears, the future of quantitative easing in the eurozone and the recent rise in copper prices. Tariff talks heat up as G-7 s… read more...

Swiss Vote To End Fractional Reserve Banking Matters Even Though It Won't Pass

via: SeekingAlpha at 2018-06-08 15:08:49:000

Switzerland is voting on Sunday in a referendum that could end fractional reserve bank lending in the country. Let me get this out of the way quickly and say I do not believe it will pass. I don't think it will even be close. Further, even if by some miracle it does pass, it would not tame or … read more...

Italy And The Repricing Of European Government Debt

via: SeekingAlpha at 2018-06-08 09:59:47:000

I have never been a great advocate of long-term investment in fixed income securities, not in a world of artificially low official inflation indices and fiat currencies. Given the de minimis real rate of return, I regard them as trading assets. I will freely admit that this has led me to make … read more...

ECB Preview: Praet's Pivot Pirouette

via: SeekingAlpha at 2018-06-08 04:11:00:000

By Carsten Brzeski, Chief Economist ING Germany Despite growing uncertainties around the strength of the eurozone recovery, little underlying inflationary pressure and possible further market turmoil, the ECB seems determined to demonstrate its focus on long-term trends. After Praet's r… read more...

Short And Sharp: Will Europe Continue To Disappoint?

via: SeekingAlpha at 2018-06-08 02:06:45:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Rewind to the start of 2018. The market consensus was for European risk assets to outshine U.S. assets, supported by a strong economy, easy monetary policy, and subdued political risk. This prediction was looking good … read more...

Multimedia Weekly Digest: Italian Volatility

via: SeekingAlpha at 2018-06-07 09:30:34:000

Welcome to SA Multimedia Digest, where we combine videos and podcasts from across Seeking Alpha's contributor base into a single weekly article. Felix Salmon had political-risk consultant Anna Szymanski on his edifying podcast this week and she broke down the situation in Italy: The t… read more...

Axel's Outlook

via: SeekingAlpha at 2018-06-07 09:09:28:000

Ask me what I am currently most enthusiastic about in the markets, and Ill tell you it is the underpricing of rate hike expectations. Let me elaborate on why, what it means for investors portfolios and how to possibly profit from it. Why rate hike expectations may be underpr… read more...

The Warning Labels

via: SeekingAlpha at 2018-06-07 08:38:29:000

As you may have noticed, my commentary is much more preoccupied with warnings, rather than with money making ideas. There is a reason for this. Long experience in the financial markets has taught me that "the velocity of loss is much greater than the velocity of gain." That timeless principle … read more...

ECB: Preparing The End Of QE?

via: SeekingAlpha at 2018-06-07 02:45:00:000

By Carsten Brzeski, Chief Economist ING Germany A rather hawkish speech by ECB chief economist Peter Praet Wednesday morning provided more evidence that next weeks ECB meeting will see a heated debate on how and when to end QE Clear hints on end to QE With slightly more t… read more...

Preparations For A Battle Royale

via: SeekingAlpha at 2018-06-06 08:00:05:000

To copy the truth can be a good thing, but to invent the truth is better, much better. - Giuseppe Verdi What did you think, that on "Day One" that the new Italian government was going to publicly announce that they were going to leave the Euro and the Eurozone? I got several emails, af… read more...

Italy's Public Debt Is Worse Than You Think

via: SeekingAlpha at 2018-06-06 06:37:34:000

Before proceeding with its budget-busting measures, the new Italian government might want to consider how large the country's public debt is. It might also want to take into account how short Italy's public debt maturity is and how exposed the country is to the whims of the global bond market…. read more...

If It's Early June, It's 'D-Day All Over Again' In Europe

via: SeekingAlpha at 2018-06-06 01:47:47:000

By Gary Alexander From 2010 through 2012, Greece imploded, followed by Spain and Italy, then Brexit - all during June. Since 1940, early June carried sacred meaning in the narrow seascape between Britain and France - and I'm not just talking about D-Day - the June 6, 1944 landing of Al… read more...

Italy Now Infected By The Emerging Market Debt Crisis

via: SeekingAlpha at 2018-06-06 01:33:46:000

The emerging market crisis spread to Brazil and infected Italy this week. Even though Italy is not an emerging market, the country holds a disproportionate amount of emerging market debt. Furthermore, Italian President Sergio Mattarella blocked two anti-establishment parties, the 5 Star Moveme… read more...

It Is Italy's Economic Growth, Stupid

via: SeekingAlpha at 2018-06-05 05:30:53:000

Rapid Italian economic growth is essential if Italy is to resolve its serious public debt and banking system problems. That in turn is needed if Italy is to regain investor confidence, which has been seriously battered by heightened political uncertainty over the last few months. However, It… read more...

Italy's Problem Is Europe's Problem

via: SeekingAlpha at 2018-06-05 05:22:36:000

My article on the Italian (and Spanish and Deutsche Bank (DB)) mess in the Sunday Business Post . Unedited version of the article here: This fortnight has been a real roller coaster for the European markets and politics. Only two weeks ago, I wrote about the problems of rising political p… read more...

European Populism Flares Up

via: SeekingAlpha at 2018-06-05 03:53:59:000

Key points The populist policies of Italy's new government may lead to tensions with European partners and a sustained shift in pricing for European assets. Volatility spiked last week. Eurozone political risk returned and the U.S. announced tariffs on imports from China, the EU and NAFT… read more...

Investors Watch As Populism Surges In Italy

via: SeekingAlpha at 2018-06-05 01:29:57:000

Original Post By Stuart Burns Last week was quite the week in Europe. U.S. readers may only be picking up the roller coaster in Italian politics via the fluctuations in their pension fund share portfolio values, but it is probably no exaggeration to say European democracy has been … read more...

ECB Preview: Will Recent Italian Developments Influence Europe's Tapering Timeline?

via: SeekingAlpha at 2018-06-05 01:24:30:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group The future of the European Central Bank's three-year-old quantitative easing program lies in the balance. Will the bank's governing council use its scheduled June me… read more...

'Do Whatever It Takes' DéJà Vu All Over Again At The Age Of 20

via: SeekingAlpha at 2018-06-04 09:48:35:000

(Source: Bloomberg ) As the ECB celebrates 20 years of existence by signalling the all clear that emergency stimulus measures are no longer needed, existential challenges from within the Eurozone and externally from the global economy threaten to spoil the party. The last time the ECB hea… read more...

Salvini Revolts

via: SeekingAlpha at 2018-06-04 09:47:42:000

Salvini, like Spartacus, before him, has revolted. Initially, Spartacus had been cornered with other Gladiators and then, under siege from the Roman government, he engaged in a full-blown rebellion. The first few days, weeks and months of Spartacus's campaign are a matter of history, but the r… read more...

Meet The Perpetual Bailout Mechanism That Keeps The Euro Afloat

via: SeekingAlpha at 2018-06-04 07:07:15:000

The eurozone isn't exactly an optimum currency area, that much is clear. There are basically four criteria: The absence of asymmetric shocks. Sufficient wage flexibility and labor mobility to smooth out unemployment differences. Sufficient price flexibility and capital mobility to elim… read more...

A Misplaced Rally

via: SeekingAlpha at 2018-06-04 04:32:15:000

Last week, we've witnessed one of the strangest market rallies ever. Sure, there were the better-than-expected jobs data, but with unemployment at 3.8% it's already curious the markets reacted with euphoria. With the US economy at full employment, inflation is only under control if you think… read more...

Europe's Boot Gives The Market A Kick

via: SeekingAlpha at 2018-06-04 03:23:29:000

By Joseph V. Amato The Italian mini-panic was a reminder of the eurozone's still-unaddressed structural shortcomings. On Tuesday, the political developments in Italy looked set to trigger the latest big correction in markets. By Wednesday morning investors had moved on, convinced there… read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

Europe, Currency, And Inflation Crises Threaten

via: SeekingAlpha at 2018-06-02 12:32:01:000

Welcome to this week's Market Wrap Podcast , I'm Mike Gleason. Coming up Axel Merk joins me to break down the situation in the Eurozone, the likelihood of more nations following the UK in exiting the EU and how all this might affect the dollar, Fed policy and precious metals. Don't miss an … read more...

A Roman Chariot Race

via: SeekingAlpha at 2018-06-01 19:50:03:000

"Rome - the city of visible history, where the past of a whole hemisphere seems moving in funeral procession with strange ancestral images and trophies gathered from afar." - George Elliot Both the bond market and the equity markets have sighed with relief. The President of Italy has backe… read more...

EU initiates WTO challenge against U.S. tariffs

via: SeekingAlpha at 2018-06-01 11:35:19:000

The European Union files a World Trade Organization challenge against U.S. tariffs on steel and aluminum imports, as it prepares a list of U.S. exports that could be slapped with 6.4B ($7.5B) worth of levies as soon as June 20. More news on: Vanguard FTSE Europe ETF, WisdomTree E… read more...

EU initiates WTO challenge against U.S. tariffs

via: SeekingAlpha at 2018-06-01 11:35:19:000

The European Union files a World Trade Organization challenge against U.S. tariffs on steel and aluminum imports, as it prepares a list of U.S. exports that could be slapped with 6.4B ($7.5B) worth of levies as soon as June 20. More news on: Vanguard FTSE Europe ETF, WisdomTree E… read more...

EU initiates WTO challenge against U.S. tariffs

via: SeekingAlpha at 2018-06-01 11:35:19:000

The European Union files a World Trade Organization challenge against U.S. tariffs on steel and aluminum imports, as it prepares a list of U.S. exports that could be slapped with 6.4B ($7.5B) worth of levies as soon as June 20. More news on: Vanguard FTSE Europe ETF, WisdomTree E… read more...

Europe ahead 1% as Italy settles on government; U.S. futures rise

via: SeekingAlpha at 2018-06-01 07:00:40:000

Populist parties the 5 Star Movement and the League have agreed on a coalition government, with Giuseppe Conte as new prime minister. That's helping a 20 basis point decline in 10-year government bond yields and a 2.6% advance for the FTSE MIB index. More news on: SPDR S&… read more...

Europe ahead 1% as Italy settles on government; U.S. futures rise

via: SeekingAlpha at 2018-06-01 07:00:40:000

Populist parties the 5 Star Movement and the League have agreed on a coalition government, with Giuseppe Conte as new prime minister. That's helping a 20 basis point decline in 10-year government bond yields and a 2.6% advance for the FTSE MIB index. More news on: SPDR S&… read more...

Uncertain Times For Italian Politics: Questions And Watch Points

via: SeekingAlpha at 2018-06-01 06:24:29:000

Market sentiment has shifted to risk-off Italy's proposed coalition government collapsed over the weekend after the president refused to accept euroskeptic Paolo Savona as minister of finance. Markets have since reacted, with Italian government bond yields rising above their eurozone coun… read more...

Uncertain Times For Italian Politics: Questions And Watch Points

via: SeekingAlpha at 2018-06-01 06:24:29:000

Market sentiment has shifted to risk-off Italy's proposed coalition government collapsed over the weekend after the president refused to accept euroskeptic Paolo Savona as minister of finance. Markets have since reacted, with Italian government bond yields rising above their eurozone coun… read more...

Italy's Populist Politics Mean A Summer Of Uncertainty

via: SeekingAlpha at 2018-06-01 01:54:33:000

The political upheaval in Italy has raised a number of fears, not least that Europes fourth-largest economy may want to withdraw from the European Union, if not subvert the euro with a parallel currency too. We view both events as unlikely, but the mere prospect of them occurring &#x20… read more...

Italy's Populist Politics Mean A Summer Of Uncertainty

via: SeekingAlpha at 2018-06-01 01:54:33:000

The political upheaval in Italy has raised a number of fears, not least that Europes fourth-largest economy may want to withdraw from the European Union, if not subvert the euro with a parallel currency too. We view both events as unlikely, but the mere prospect of them occurring &#x20… read more...

Eurozone Inflation Soars To Target, Putting The ECB In An Awkward Spot

via: SeekingAlpha at 2018-05-31 19:18:37:000

By Bert Colijn, Senior Economist, Eurozone As this jump in inflation just thinly masks underlying core weakness and uncertainty about the economy is high, it is unlikely to convince the ECB to normalise policy more quickly. As prospects of a trade war with the US loom and euro-risk ret… read more...

Investors Should Worry About Italy, Because The E.U. Is Unwilling And Unable To Address Crisis

via: SeekingAlpha at 2018-05-31 14:35:16:000

It would have seemed impossible perhaps just five years ago, but the Greek tragedy seems like a distant memory now. Not that Greece is no longer in economic and financial trouble. It is just that they gave up on any pushback against EU and IMF demands in exchange for continued bailouts. As lon… read more...

Blowing Up: The Italian Debt Crisis, The Experts That Missed It - And What's Next

via: SeekingAlpha at 2018-05-31 10:07:00:000

With the crisis unfolding in Italy, I can't help but remember the lessons from the underrated book - Fat Tail by Ian Bremmer. This book is an excellent read and explains how political risks can lead to severe economic and social risks. But first, what exactly is risk ? I sum it up i… read more...

Germany: Surging Inflation Further Complicates ECB's Job

via: SeekingAlpha at 2018-05-31 07:00:31:000

By Carsten Brzeski, Chief Economist, ING Germany In the shade of Italian excitement, a whole series of German macro data passed by almost unnoticed Wednesday morning. The main message: a recovery is in the making but one-off effects have not yet disappeared Retail sales rise The … read more...

European Implosion Sends Panic Through Global Markets As George Soros Warns 'We May Be Heading For Another Major Financial Crisis'

via: SeekingAlpha at 2018-05-31 02:59:11:000

I told you to keep your eyes on Europe. On Tuesday, widespread panic shot through European financial markets and this deeply affected U.S. markets as well. The Dow Jones industrial average fell 391 points, and at this point the Dow and the S&P 500 have been down for three trading session… read more...

Is Italy Headed For An EU Exit?

via: SeekingAlpha at 2018-05-31 00:50:21:000

By Kristina Hooper, Chief Global Market Strategist on May 29, 2018, in Market & Economic Weekly Market Compass: Italy's election chaos has roiled the media, but the market reaction has been contained. We have devoted much time in this weekly blog to geopolitical risks. Howeve… read more...

Why The Eurozone And The Euro Are Both Doomed

via: SeekingAlpha at 2018-05-30 12:02:07:000

Papering over the structural imbalances in the Eurozone with endless bailouts will not resolve the fundamental asymmetries. Beneath the permanent whatever it takes "rescue" by the European Central Bank (ECB) lie fundamental asymmetries that doom the euro , the joint currency that has been… read more...

Why The Eurozone And The Euro Are Both Doomed

via: SeekingAlpha at 2018-05-30 12:02:07:000

Papering over the structural imbalances in the Eurozone with endless bailouts will not resolve the fundamental asymmetries. Beneath the permanent whatever it takes "rescue" by the European Central Bank (ECB) lie fundamental asymmetries that doom the euro , the joint currency that has been… read more...

FAQ: What Happened To Rome?

via: SeekingAlpha at 2018-05-30 11:31:41:000

Italian capital markets are having a spasm that by some measures is more acute than was experienced during the 2011-2012 sovereign crisis period. We suspect the reprieve being experienced today--after a move historic proportions yesterday--will be short-lived. Market participants see the g… read more...

FAQ: What Happened To Rome?

via: SeekingAlpha at 2018-05-30 11:31:41:000

Italian capital markets are having a spasm that by some measures is more acute than was experienced during the 2011-2012 sovereign crisis period. We suspect the reprieve being experienced today--after a move historic proportions yesterday--will be short-lived. Market participants see the g… read more...

U.S.-EU Trade War: Time's Running Out

via: SeekingAlpha at 2018-05-30 07:58:01:000

By Bert Colijn, Senior Economist, Eurozone , and Raoul Leering, Head of International Trade Analysis The EU has until Thursday to stop President Trump from raising tariffs on European steel and aluminium. If current talks fail, higher tariffs will become a reality. The EU will then ret… read more...

U.S.-EU Trade War: Time's Running Out

via: SeekingAlpha at 2018-05-30 07:58:01:000

By Bert Colijn, Senior Economist, Eurozone , and Raoul Leering, Head of International Trade Analysis The EU has until Thursday to stop President Trump from raising tariffs on European steel and aluminium. If current talks fail, higher tariffs will become a reality. The EU will then ret… read more...

BTP Time Bombs

via: SeekingAlpha at 2018-05-30 07:17:13:000

My last post was on Turkey and oil. Oil only briefly to say it was turning and Turkey in a great long verbose way to say it was turning. Last week, every eye was upon the Turkish lira. But market attention is drawn not by absolute badness but by relative baldness, so the complete explosion i… read more...

BTP Time Bombs

via: SeekingAlpha at 2018-05-30 07:17:13:000

My last post was on Turkey and oil. Oil only briefly to say it was turning and Turkey in a great long verbose way to say it was turning. Last week, every eye was upon the Turkish lira. But market attention is drawn not by absolute badness but by relative baldness, so the complete explosion i… read more...

Why A Euro Break-Up Doesn't Scare Me

via: SeekingAlpha at 2018-05-30 07:16:31:000

Sensible investing requires understanding to avoid overreaction. We are inherently afraid of things we don't understand. Being in a foreign environment, for instance, is sometimes scary. Not because foreign environments are necessarily scary, but because we don't understand them. Investing, fo… read more...

The Euro: Only As Strong As Its Weakest Link

via: SeekingAlpha at 2018-05-30 07:00:25:000

By Chris Turner, Global Head of Strategy and Head of EMEA and LATAM Research ; Petr Krpata, CFA, Chief EMEA FX and IR Strategist ; Viraj Patel, Foreign Exchange Strategist The Italian political crisis has heaped more pressure on EUR/USD and has re-introduced the topic of a Eurozone c… read more...

Italy Roils Global Capital Markets - What Next?

via: SeekingAlpha at 2018-05-30 03:13:33:000

After a fairly solid rally took place over the past few weeks in the US majors, fresh concerns originating from Italy roiled the markets early on Tuesday, May 29. The concern is really related to the formation of a coalition government in Italy and the excessive debt issues plaguing Italy and … read more...

Italy's 'Lost Decades'

via: SeekingAlpha at 2018-05-30 02:21:36:000

Things change quickly! Last week I highlighted how the summit meeting between Donald Trump and Kim Jong-un had been cancelled. Now, reports suggest it could be back on. Apparently, Kim doesnt read cancellation letters and Trump forgets sending them. Still, this is good news. I&#… read more...

Ep. 63: Investors To Italy And The EU - Che Cosa Succede?

via: SeekingAlpha at 2018-05-30 02:03:38:000

The mainstream media is focusing on the newly formed government in Italy, the Eurozones third-largest economy. The reason centers on the new regimes plan to boost fiscal spending while cutting taxes at a time when Italys debt to GDP is 130% and the economy is one o… read more...

Italy May Trigger New Global Crisis

via: SeekingAlpha at 2018-05-30 01:31:47:000

In choosing this moment to heighten trade tensions with Europe, Donald Trump is ignoring major economic and political upheaval in Rome. Trouble in Italy, the euro area's third largest economy, has the potential to trigger a global economic disaster on the scale of the 2008 financial crisis. … read more...

The Global Risks Of Italian Populism

via: SeekingAlpha at 2018-05-29 14:17:12:000

Read more … read more...

Rush To Safety: The Next Financial Crisis?

via: SeekingAlpha at 2018-05-29 09:31:02:000

Well, the rush to safety appears to be in full force once again. The reason: the turmoil in Europe. Where: Italy, Spain, Greece. The evidence: The yield on the 10-year US Treasury bond on Tuesday morning was at 2.86 percent, down from 3.11 percent on May 17. The yield on the 10-year … read more...

Dollar And Yen Surge

via: SeekingAlpha at 2018-05-29 07:38:49:000

The world looks in turmoil, and the dollar and yen are the chief beneficiaries. The epicenter of the tension is in Europe, and the euro has been sold to near $1.15 and sterling to $1.3200. The dollar slumped a little through JPY108.45, its lowest level since April 23. The dollar is higher ag… read more...

Eurozone Loan Growth Disappoints In April

via: SeekingAlpha at 2018-05-29 07:00:37:000

By Bert Colijn, Senior Economist, Eurozone Loan growth to businesses and households has plateaued over recent months. With M1 edging down, monetary developments confirm the eurozone economic outlook to be more modest. Outlook for business Lending growth has plateaued in 2018 as loa… read more...

Periphery panic sparks selling in stocks, rally in Treasurys

via: SeekingAlpha at 2018-05-29 06:39:42:000

Harkening back to the sorts of moves we used to see as Greece nearly spun out of the EU, the 10-year Italian government bond yield is up 42 basis points to 3.09%. The 10-year Spanish yield is up nine basis points to 1.61%. More news on: iShares 20+ Year Treasury Bond ETF, ProShares UltraSh… read more...

What Happened Monday?

via: SeekingAlpha at 2018-05-28 23:27:38:000

Italian politics dominated Monday's activity. Initially, the euro reacted positively in Asia to news that the Italian President had blocked the proposed finance minister. A technocrat government would be appointed to prepare for new elections. The euro reversed course by midday in Asia… read more...

Rome Is Burning

via: SeekingAlpha at 2018-05-28 12:20:40:000

To quote Donald Trump, the ECB is probably going to need to " DO SOMETHING! " before the rapidly deteriorating political situation in Italy ends up spilling over into the rest of the periphery and/or starts to effectively work at cross purposes with PSPP and CSPP. I've covered the Italian dr… read more...

Rome Is Burning

via: SeekingAlpha at 2018-05-28 12:20:40:000

To quote Donald Trump, the ECB is probably going to need to " DO SOMETHING! " before the rapidly deteriorating political situation in Italy ends up spilling over into the rest of the periphery and/or starts to effectively work at cross purposes with PSPP and CSPP. I've covered the Italian dr… read more...

Unrelenting And With Good Reason!

via: SeekingAlpha at 2018-05-27 02:01:12:000

It was back on January 17, 2018 when I issued my first warning about Italy. I stated, "It is impossible to know how this would exactly play out, but serious political risk is once again on the table for Italy, and the entire European Union construct, as a possible result of the Italian electio… read more...

Unrelenting And With Good Reason!

via: SeekingAlpha at 2018-05-27 02:01:12:000

It was back on January 17, 2018 when I issued my first warning about Italy. I stated, "It is impossible to know how this would exactly play out, but serious political risk is once again on the table for Italy, and the entire European Union construct, as a possible result of the Italian electio… read more...

Unrelenting And With Good Reason!

via: SeekingAlpha at 2018-05-27 02:01:12:000

It was back on January 17, 2018 when I issued my first warning about Italy. I stated, "It is impossible to know how this would exactly play out, but serious political risk is once again on the table for Italy, and the entire European Union construct, as a possible result of the Italian electio… read more...

Italy's Coming Stealth Eviction From The Eurozone

via: SeekingAlpha at 2018-05-26 10:21:47:000

Italy hasn't been able to even dent its huge debt/GDP ratio of 130%+ despite a series of economic tailwinds, most notably a cyclical upturn, record low interest rates, a fall of the euro and a large bond buying program by the ECB (see previous article for details on all this). While some o… read more...

Italy's Coming Stealth Eviction From The Eurozone

via: SeekingAlpha at 2018-05-26 10:21:47:000

Italy hasn't been able to even dent its huge debt/GDP ratio of 130%+ despite a series of economic tailwinds, most notably a cyclical upturn, record low interest rates, a fall of the euro and a large bond buying program by the ECB (see previous article for details on all this). While some o… read more...

Italy's Coming Stealth Eviction From The Eurozone

via: SeekingAlpha at 2018-05-26 10:21:47:000

Italy hasn't been able to even dent its huge debt/GDP ratio of 130%+ despite a series of economic tailwinds, most notably a cyclical upturn, record low interest rates, a fall of the euro and a large bond buying program by the ECB (see previous article for details on all this). While some o… read more...

Italy's Coming Stealth Eviction From The Eurozone

via: SeekingAlpha at 2018-05-26 10:21:47:000

Italy hasn't been able to even dent its huge debt/GDP ratio of 130%+ despite a series of economic tailwinds, most notably a cyclical upturn, record low interest rates, a fall of the euro and a large bond buying program by the ECB (see previous article for details on all this). While some o… read more...

ECB's Turn For A Disappointing Account

via: SeekingAlpha at 2018-05-26 04:50:30:000

By Jeffrey P. Snider Earlier this week, the FOMC published the minutes of its April policy meeting, disappointing "dovish" in them which more properly suggests skepticism about the state of economic affairs. Yesterday, it was the ECB's turn. Releasing the "Account" of also its April gather… read more...

ECB's Turn For A Disappointing Account

via: SeekingAlpha at 2018-05-26 04:50:30:000

By Jeffrey P. Snider Earlier this week, the FOMC published the minutes of its April policy meeting, disappointing "dovish" in them which more properly suggests skepticism about the state of economic affairs. Yesterday, it was the ECB's turn. Releasing the "Account" of also its April gather… read more...

ECB's Turn For A Disappointing Account

via: SeekingAlpha at 2018-05-26 04:50:30:000

By Jeffrey P. Snider Earlier this week, the FOMC published the minutes of its April policy meeting, disappointing "dovish" in them which more properly suggests skepticism about the state of economic affairs. Yesterday, it was the ECB's turn. Releasing the "Account" of also its April gather… read more...

ECB's Turn For A Disappointing Account

via: SeekingAlpha at 2018-05-26 04:50:30:000

By Jeffrey P. Snider Earlier this week, the FOMC published the minutes of its April policy meeting, disappointing "dovish" in them which more properly suggests skepticism about the state of economic affairs. Yesterday, it was the ECB's turn. Releasing the "Account" of also its April gather… read more...

Short And Sharp: Italian Risk Takes Center Stage... Again

via: SeekingAlpha at 2018-05-25 05:18:32:000

By Seema Shah, Global Investment Strategist, Principal Global Investors The worst-case scenario for Italy's inconclusive general election is unfolding. Five Star Movement and the Northern League - both anti-establishment parties - are on the verge of forming a coalition government. Althoug… read more...

Short And Sharp: Italian Risk Takes Center Stage... Again

via: SeekingAlpha at 2018-05-25 05:18:32:000

By Seema Shah, Global Investment Strategist, Principal Global Investors The worst-case scenario for Italy's inconclusive general election is unfolding. Five Star Movement and the Northern League - both anti-establishment parties - are on the verge of forming a coalition government. Althoug… read more...

Short And Sharp: Italian Risk Takes Center Stage... Again

via: SeekingAlpha at 2018-05-25 05:18:32:000

By Seema Shah, Global Investment Strategist, Principal Global Investors The worst-case scenario for Italy's inconclusive general election is unfolding. Five Star Movement and the Northern League - both anti-establishment parties - are on the verge of forming a coalition government. Althoug… read more...

Short And Sharp: Italian Risk Takes Center Stage... Again

via: SeekingAlpha at 2018-05-25 05:18:32:000

By Seema Shah, Global Investment Strategist, Principal Global Investors The worst-case scenario for Italy's inconclusive general election is unfolding. Five Star Movement and the Northern League - both anti-establishment parties - are on the verge of forming a coalition government. Althoug… read more...

3 Vicious Cycles Threatening To Blow Up Financial Markets

via: SeekingAlpha at 2018-05-25 02:12:11:000

In January 2014 we wrote an article titled The ticking time bomb under the world economy . In that article we argued that it would be a matter of time before Italy's fiscal position would start wreaking havoc with debt markets and the financial fallout would be such that this could easily thr… read more...

3 Vicious Cycles Threatening To Blow Up Financial Markets

via: SeekingAlpha at 2018-05-25 02:12:11:000

In January 2014 we wrote an article titled The ticking time bomb under the world economy . In that article we argued that it would be a matter of time before Italy's fiscal position would start wreaking havoc with debt markets and the financial fallout would be such that this could easily thr… read more...

3 Vicious Cycles Threatening To Blow Up Financial Markets

via: SeekingAlpha at 2018-05-25 02:12:11:000

In January 2014 we wrote an article titled The ticking time bomb under the world economy . In that article we argued that it would be a matter of time before Italy's fiscal position would start wreaking havoc with debt markets and the financial fallout would be such that this could easily thr… read more...

3 Vicious Cycles Threatening To Blow Up Financial Markets

via: SeekingAlpha at 2018-05-25 02:12:11:000

In January 2014 we wrote an article titled The ticking time bomb under the world economy . In that article we argued that it would be a matter of time before Italy's fiscal position would start wreaking havoc with debt markets and the financial fallout would be such that this could easily thr… read more...

Europe's Sovereign Bond-Backed Securities

via: SeekingAlpha at 2018-05-24 11:32:08:000

It has been discussed for several weeks, and today the European Commission unveiled a proposal for a new asset-backed security. The backing would be sovereign bonds weighted by the size of the economy. This may sound like mutualization of risk, but it is no such thing. These new securit… read more...

Europe's Sovereign Bond-Backed Securities

via: SeekingAlpha at 2018-05-24 11:32:08:000

It has been discussed for several weeks, and today the European Commission unveiled a proposal for a new asset-backed security. The backing would be sovereign bonds weighted by the size of the economy. This may sound like mutualization of risk, but it is no such thing. These new securit… read more...

Europe's Sovereign Bond-Backed Securities

via: SeekingAlpha at 2018-05-24 11:32:08:000

It has been discussed for several weeks, and today the European Commission unveiled a proposal for a new asset-backed security. The backing would be sovereign bonds weighted by the size of the economy. This may sound like mutualization of risk, but it is no such thing. These new securit… read more...

Europe's Sovereign Bond-Backed Securities

via: SeekingAlpha at 2018-05-24 11:32:08:000

It has been discussed for several weeks, and today the European Commission unveiled a proposal for a new asset-backed security. The backing would be sovereign bonds weighted by the size of the economy. This may sound like mutualization of risk, but it is no such thing. These new securit… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

The Wizard Of 'Ah's'

via: SeekingAlpha at 2018-05-24 08:48:02:000

I am quite fond of the word "Ah." It is one of those stop, look, and listen words. I continue to do all of those three things, as I consider both Europe and the Fed. Remember, most money managers focus on the wrong strategy, I have learned over the years, which is the concept of the odds of so… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

ECB Pre-Preview: New Complications On The Road To Taper

via: SeekingAlpha at 2018-05-24 07:00:06:000

By Carsten Brzeski, Chief Economist ING Germany Even though we still have three more weeks to go before the next ECB meeting, recent developments clearly signal doing nothing and buying time in June is the best and most risk-free option On June 14, the ECB will hold its next monet… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Expected Re-Acceleration In Eurozone Growth Isn't Happening

via: SeekingAlpha at 2018-05-24 05:00:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Flash Eurozone composite PMI shows a further decline in May, still signalling continuing growth, but no acceleration for the time being The flash Eurozone PMI Composite Output Index declined to 54.1 in May from 55.1 in April, u… read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

Merkel: Is She A Xi?

via: SeekingAlpha at 2018-05-24 00:53:55:000

After visiting Russia's Putin earlier this week, German Chancellor Merkel is calling on China's President Xi at the end of the week. Merkel and Xi are savvy politicians, and both have raised a simple practice to a high art form: don't stop adversaries from shooting themselves in the foot. … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

E.U. Banks Remain Massive Problem

via: SeekingAlpha at 2018-05-23 09:46:38:000

While the US and the UK were mired in political chaos during 2017, the EU claimed it was experiencing improved economic conditions. It appears this did little to move Europe in the direction of implementing long-needed EU and eurozone reforms, instead it merely fueled the complacency that has … read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

The Coliseum At Pooh Corner

via: SeekingAlpha at 2018-05-23 08:06:38:000

What can you say about Italy these days? Well, "Pooh!" The European Union has been a grand experiment. Britain was part way in, never utilizing their currency, and then decided to abandon the ship. It has been a complicated affair, getting off the boat. So many gangways, and then there is yo… read more...

European Stocks: More Expensive Than You Think

via: SeekingAlpha at 2018-05-22 14:31:52:000

Editor's note: Seeking Alpha is proud to welcome Daniel Lacalle as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more Fund manag… read more...

European Stocks: More Expensive Than You Think

via: SeekingAlpha at 2018-05-22 14:31:52:000

Editor's note: Seeking Alpha is proud to welcome Daniel Lacalle as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more Fund manag… read more...

European Stocks: More Expensive Than You Think

via: SeekingAlpha at 2018-05-22 14:31:52:000

Editor's note: Seeking Alpha is proud to welcome Daniel Lacalle as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to the SA PRO archive. Click here to find out more Fund manag… read more...

Are The Balkans The Next Big Thing?

via: SeekingAlpha at 2018-05-22 07:43:11:000

Original Post By Stuart Burns Does your company strategy call for a European manufacturing base but you worry you have missed the boat in terms of accessing lower-cost opportunities created when eastern European countries like Poland and the Czech Republic came into the EU? Lower l… read more...

Are The Balkans The Next Big Thing?

via: SeekingAlpha at 2018-05-22 07:43:11:000

Original Post By Stuart Burns Does your company strategy call for a European manufacturing base but you worry you have missed the boat in terms of accessing lower-cost opportunities created when eastern European countries like Poland and the Czech Republic came into the EU? Lower l… read more...

Are The Balkans The Next Big Thing?

via: SeekingAlpha at 2018-05-22 07:43:11:000

Original Post By Stuart Burns Does your company strategy call for a European manufacturing base but you worry you have missed the boat in terms of accessing lower-cost opportunities created when eastern European countries like Poland and the Czech Republic came into the EU? Lower l… read more...

Are The Balkans The Next Big Thing?

via: SeekingAlpha at 2018-05-22 07:43:11:000

Original Post By Stuart Burns Does your company strategy call for a European manufacturing base but you worry you have missed the boat in terms of accessing lower-cost opportunities created when eastern European countries like Poland and the Czech Republic came into the EU? Lower l… read more...

Are The Balkans The Next Big Thing?

via: SeekingAlpha at 2018-05-22 07:43:11:000

Original Post By Stuart Burns Does your company strategy call for a European manufacturing base but you worry you have missed the boat in terms of accessing lower-cost opportunities created when eastern European countries like Poland and the Czech Republic came into the EU? Lower l… read more...

Italy Went Boom A Long Time Ago (And That's The Point)

via: SeekingAlpha at 2018-05-22 06:44:12:000

On June 21, 2017, Italy's Parliament approved Law #96. The new regulation altered Law #130 of 1999. Pertaining to limitations on the activities of Special Purpose Vehicles ((SPV)), the 2017 amendment expanded their scope. The intention was clear; SPV's were going to be used as the primary meth… read more...

Italy Went Boom A Long Time Ago (And That's The Point)

via: SeekingAlpha at 2018-05-22 06:44:12:000

On June 21, 2017, Italy's Parliament approved Law #96. The new regulation altered Law #130 of 1999. Pertaining to limitations on the activities of Special Purpose Vehicles ((SPV)), the 2017 amendment expanded their scope. The intention was clear; SPV's were going to be used as the primary meth… read more...

Italy Went Boom A Long Time Ago (And That's The Point)

via: SeekingAlpha at 2018-05-22 06:44:12:000

On June 21, 2017, Italy's Parliament approved Law #96. The new regulation altered Law #130 of 1999. Pertaining to limitations on the activities of Special Purpose Vehicles ((SPV)), the 2017 amendment expanded their scope. The intention was clear; SPV's were going to be used as the primary meth… read more...

Italy Went Boom A Long Time Ago (And That's The Point)

via: SeekingAlpha at 2018-05-22 06:44:12:000

On June 21, 2017, Italy's Parliament approved Law #96. The new regulation altered Law #130 of 1999. Pertaining to limitations on the activities of Special Purpose Vehicles ((SPV)), the 2017 amendment expanded their scope. The intention was clear; SPV's were going to be used as the primary meth… read more...

Italy Went Boom A Long Time Ago (And That's The Point)

via: SeekingAlpha at 2018-05-22 06:44:12:000

On June 21, 2017, Italy's Parliament approved Law #96. The new regulation altered Law #130 of 1999. Pertaining to limitations on the activities of Special Purpose Vehicles ((SPV)), the 2017 amendment expanded their scope. The intention was clear; SPV's were going to be used as the primary meth… read more...

Italy Update - How Italy Got Into Its Current Mess

via: SeekingAlpha at 2018-05-22 05:22:20:000

With Italy's bonds taking a hit and the country facing political turmoil, this piece presents an overall look at how things got this bad. For years the world has focused on the "Greek Tragedy" that is far from over. While the ongoing misery of Greece continues to play out, our eyes have been d… read more...

Italy Update - How Italy Got Into Its Current Mess

via: SeekingAlpha at 2018-05-22 05:22:20:000

With Italy's bonds taking a hit and the country facing political turmoil, this piece presents an overall look at how things got this bad. For years the world has focused on the "Greek Tragedy" that is far from over. While the ongoing misery of Greece continues to play out, our eyes have been d… read more...

Italy Update - How Italy Got Into Its Current Mess

via: SeekingAlpha at 2018-05-22 05:22:20:000

With Italy's bonds taking a hit and the country facing political turmoil, this piece presents an overall look at how things got this bad. For years the world has focused on the "Greek Tragedy" that is far from over. While the ongoing misery of Greece continues to play out, our eyes have been d… read more...

Italy Update - How Italy Got Into Its Current Mess

via: SeekingAlpha at 2018-05-22 05:22:20:000

With Italy's bonds taking a hit and the country facing political turmoil, this piece presents an overall look at how things got this bad. For years the world has focused on the "Greek Tragedy" that is far from over. While the ongoing misery of Greece continues to play out, our eyes have been d… read more...

Italy Update - How Italy Got Into Its Current Mess

via: SeekingAlpha at 2018-05-22 05:22:20:000

With Italy's bonds taking a hit and the country facing political turmoil, this piece presents an overall look at how things got this bad. For years the world has focused on the "Greek Tragedy" that is far from over. While the ongoing misery of Greece continues to play out, our eyes have been d… read more...

Italian Sovereign Risks Are Blowing Up

via: SeekingAlpha at 2018-05-22 03:59:15:000

As I noted in my comment to ECR / Euromoney and in my article for Sunday Business Post (see links here and here ), the ongoing process of government formation in Italy represents a fallout from the substantial VUCA events arising from the recent elections, and as such warrants a signifi… read more...

Italian Sovereign Risks Are Blowing Up

via: SeekingAlpha at 2018-05-22 03:59:15:000

As I noted in my comment to ECR / Euromoney and in my article for Sunday Business Post (see links here and here ), the ongoing process of government formation in Italy represents a fallout from the substantial VUCA events arising from the recent elections, and as such warrants a signifi… read more...

Italian Sovereign Risks Are Blowing Up

via: SeekingAlpha at 2018-05-22 03:59:15:000

As I noted in my comment to ECR / Euromoney and in my article for Sunday Business Post (see links here and here ), the ongoing process of government formation in Italy represents a fallout from the substantial VUCA events arising from the recent elections, and as such warrants a signifi… read more...

Italian Sovereign Risks Are Blowing Up

via: SeekingAlpha at 2018-05-22 03:59:15:000

As I noted in my comment to ECR / Euromoney and in my article for Sunday Business Post (see links here and here ), the ongoing process of government formation in Italy represents a fallout from the substantial VUCA events arising from the recent elections, and as such warrants a signifi… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

The Threat Of The Mini-BoT

via: SeekingAlpha at 2018-05-21 14:47:20:000

Investors are having a fit. For the first two months after the early March Italian elections, investors could hardly care less. Italy's premium over Germany to borrow money for a decade fell to a two-year low. In the last two sessions, it has jumped nearly 40 bp to 1.87%. The economic pro… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Euro-Swiss Shows Elevated Systemic Risk

via: SeekingAlpha at 2018-05-21 09:58:38:000

The Swiss National Bank's decision in January 2015 to remove the cap on the Swiss franc (floor on the euro) that it has set at CHF1.20 is seared into the memory of a generation of foreign exchange participants. It is not exactly clear where the euro bottomed in the frenzied activity that fol… read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Markets Unfazed By Rising Risk Of Populism In Italy... For Now

via: SeekingAlpha at 2018-05-21 05:34:55:000

By Darren Williams While Italy's bond yields have risen, investors have so far reacted relatively calmly to the rising probability of a populist Italian government. Based on the fundamentals, the potential downside scenario looms larger than markets seem willing to consider. After weeks … read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

Italy And The Eighth Circle Of Hell

via: SeekingAlpha at 2018-05-21 01:46:06:000

In the middle of the journey of our life I found myself within a dark woods where the straight way was lost. Ah, how hard a thing it is to tell what a wild, and rough, and stubborn wood this was, which in my thought renews the fear! -Dante Alighieri, Inferno What the European Union dem… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

How's Your Italian?

via: SeekingAlpha at 2018-05-20 00:27:18:000

If you weren't watching the ongoing emerging market drama this week, you were watching Italy, where the least market-friendly political outcome was realized, after Five Star and League agreed on a coalition to govern the country. This is a populist government, plain and simple, and tha… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Omnipresent Future Of ECB Unconventional Monetary Policy Is Here

via: SeekingAlpha at 2018-05-19 02:14:34:000

(Source: Seeking Alpha ) As the Q1/2018 economic slowdown in the Eurozone is confirmed by the arrival of backward looking data, the ECB is nervously watching to see if this was accompanied by rising or falling prices. If it is the latter, this will be something that the ECB can live w… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

The Bank Of England's Road To August In 6 Charts

via: SeekingAlpha at 2018-05-18 09:29:02:000

By James Smith, Developed Markets Economist Will the UK economy emerge from the depths of the worst quarter of growth since 2012? That's the question Bank of England officials will be looking to answer between now and the August meeting Markets may be underestimating rate hike risk… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Eurozone: Mixed Feelings

via: SeekingAlpha at 2018-05-18 02:27:45:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Eurozone growth has slowed since the beginning of the year, with inflation remaining unusually low. While both phenomena might be temporary, it looks as if a first rate hike is now not to be expected before the second half of 2019… read more...

Go-Slow Exit For ECB

via: SeekingAlpha at 2018-05-17 06:48:23:000

Predicting the timing, magnitude and sequencing of the ECB's exit from its array of unconventional policy measures is no easy task. Still, on the issue of sequencing at least, the ECB's forward guidance has been comparatively reliable (unlike some other European central banks we could mention)… read more...

Go-Slow Exit For ECB

via: SeekingAlpha at 2018-05-17 06:48:23:000

Predicting the timing, magnitude and sequencing of the ECB's exit from its array of unconventional policy measures is no easy task. Still, on the issue of sequencing at least, the ECB's forward guidance has been comparatively reliable (unlike some other European central banks we could mention)… read more...

Go-Slow Exit For ECB

via: SeekingAlpha at 2018-05-17 06:48:23:000

Predicting the timing, magnitude and sequencing of the ECB's exit from its array of unconventional policy measures is no easy task. Still, on the issue of sequencing at least, the ECB's forward guidance has been comparatively reliable (unlike some other European central banks we could mention)… read more...

An Unconventional New Government In Italy

via: SeekingAlpha at 2018-05-17 05:49:49:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group Two months after the Italian election, the country is on the verge of a new government led by the right-wing La Lega and left-wing Five Star movement. While markets take som… read more...

An Unconventional New Government In Italy

via: SeekingAlpha at 2018-05-17 05:49:49:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group Two months after the Italian election, the country is on the verge of a new government led by the right-wing La Lega and left-wing Five Star movement. While markets take som… read more...

An Unconventional New Government In Italy

via: SeekingAlpha at 2018-05-17 05:49:49:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group Two months after the Italian election, the country is on the verge of a new government led by the right-wing La Lega and left-wing Five Star movement. While markets take som… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

The Rise And Fall Of An Empire

via: SeekingAlpha at 2018-05-16 08:11:52:000

The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall. - Taylor Caldwell The European Union is now in danger. That is my straight forward opinion. The bureaucrats in Brussels are all still there, sheltered be… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Lower Cruising Speed Confirmed

via: SeekingAlpha at 2018-05-15 07:31:58:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone A number of one-off effects weighed on first-quarter growth in the eurozone. But as industrial production saw only a limited rebound in March, the acceleration of growth in 2Q should remain limited. The flash estimate for first… read more...

Eurozone: Reality Check

via: SeekingAlpha at 2018-05-11 10:13:22:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Growth expectations had become too optimistic though weaker 1Q growth is partially due to one-offs. Growth is strong, but no longer accelerating In 2017, the Eurozone surprised the markets to the point that expectations for 2… read more...

Eurozone: Reality Check

via: SeekingAlpha at 2018-05-11 10:13:22:000

By Peter Vanden Houte, Chief Economist Belgium, Eurozone Growth expectations had become too optimistic though weaker 1Q growth is partially due to one-offs. Growth is strong, but no longer accelerating In 2017, the Eurozone surprised the markets to the point that expectations for 2… read more...

Key Events In EMEA And Latam Next Week

via: SeekingAlpha at 2018-05-11 05:40:38:000

By Ciprian Dascalu , Peter Virovacz , J akub Seidler and Dmitry Polevoy It looks set to be a GDP week in EMEA next week, but what else is going on? Czech first quarter GDP to remain solid Czech's flash GDP growth for 1Q18 is released next week and according to most market forecast… read more...

Key Events In EMEA And Latam Next Week

via: SeekingAlpha at 2018-05-11 05:40:38:000

By Ciprian Dascalu , Peter Virovacz , J akub Seidler and Dmitry Polevoy It looks set to be a GDP week in EMEA next week, but what else is going on? Czech first quarter GDP to remain solid Czech's flash GDP growth for 1Q18 is released next week and according to most market forecast… read more...

Bank Of England Stays On Hold, But Have Markets Overreacted?

via: SeekingAlpha at 2018-05-11 02:05:03:000

By James Smith, Developed Markets Economist As the Bank of England points to a possible rebound in economic growth and further wage rises, we think markets may have been too quick to write off a near-term rate hike. In light of the dreadful first-quarter growth reading, the Bank of E… read more...

Bank Of England Stays On Hold, But Have Markets Overreacted?

via: SeekingAlpha at 2018-05-11 02:05:03:000

By James Smith, Developed Markets Economist As the Bank of England points to a possible rebound in economic growth and further wage rises, we think markets may have been too quick to write off a near-term rate hike. In light of the dreadful first-quarter growth reading, the Bank of E… read more...

It May Not Be The End, But It May Be The Beginning Of The End

via: SeekingAlpha at 2018-05-10 08:39:20:000

The length of time it takes for things to happen is not the same for different entities. With a person, stuff can happen relatively quickly. With a corporation the timeline is longer because they can issue shares or borrow or be bought by another company. With a nation things take far longer t… read more...

It May Not Be The End, But It May Be The Beginning Of The End

via: SeekingAlpha at 2018-05-10 08:39:20:000

The length of time it takes for things to happen is not the same for different entities. With a person, stuff can happen relatively quickly. With a corporation the timeline is longer because they can issue shares or borrow or be bought by another company. With a nation things take far longer t… read more...

Euro Depreciation: The Key To Unlocking The Value In European Exporters

via: SeekingAlpha at 2018-05-10 07:30:04:000

By Christopher Gannatti, CFA, Head of Research, Europe One of the biggest surprises of 2017 was the fact that the euro exchange rate measured against the U.S. dollar appreciated 14% - only about 7% behind the performance of the S&P 500 Index over the same period. 1 The Consequenc… read more...

Euro Depreciation: The Key To Unlocking The Value In European Exporters

via: SeekingAlpha at 2018-05-10 07:30:04:000

By Christopher Gannatti, CFA, Head of Research, Europe One of the biggest surprises of 2017 was the fact that the euro exchange rate measured against the U.S. dollar appreciated 14% - only about 7% behind the performance of the S&P 500 Index over the same period. 1 The Consequenc… read more...

British Pound: Clinging On To A Hawkish Bank Of England

via: SeekingAlpha at 2018-05-10 07:25:48:000

By Viraj Patel, Foreign Exchange Strategist Will it be a dovish hold or a 25bp rate hike? Anything is possible at today's Bank of England meeting GBP: What the BoE says today could set the tone for sterling over summer What makes today's Bank of England meeting particularly intri… read more...

British Pound: Clinging On To A Hawkish Bank Of England

via: SeekingAlpha at 2018-05-10 07:25:48:000

By Viraj Patel, Foreign Exchange Strategist Will it be a dovish hold or a 25bp rate hike? Anything is possible at today's Bank of England meeting GBP: What the BoE says today could set the tone for sterling over summer What makes today's Bank of England meeting particularly intri… read more...

The Continental Divide

via: SeekingAlpha at 2018-05-08 07:56:48:000

Yesterday I put out a note: "Keep your eye on the dollar My take---Heading to 1.1885" We are at 1.880 this morning, as I pen this piece. I think the dollar is heading even higher against the euro. Technically it looks like 1.778 dollar/ euro is coming and it may be soon. Nationalism… read more...

What Really Happened In Europe

via: SeekingAlpha at 2018-05-08 05:30:18:000

The primary example of globally synchronized growth has been Europe. Nowhere has more hope been attached to shifting fortunes. The Continent, buoyed by the persistence of central bankers like Mario Draghi, has not just accelerated, it is actually booming. Or so they say. Last September, poli… read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Europe is a short at Bridgewater

via: SeekingAlpha at 2018-02-15 10:32:23:000

Ray Dalio has been shorting European equities on a large scale at his $150B hedge fund. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, News on ETFs, Read more … read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Eurozone Economy Robust Despite Equity Market Correction

via: SeekingAlpha at 2018-02-15 04:07:01:000

By Bill Witherell, Ph.D. Eurozone equity markets have declined in step with global markets in a widely expected market correction. While there has been some recovery in the first two days of this week, it is not yet clear that the correction has run its course. Concerns that interest rates… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

Keeping Faith In The Franco-German Entente

via: SeekingAlpha at 2018-02-14 05:14:47:000

By James Ross, CFA European Portfolio Manager James Ross summarizes his current views on the political backdrop in Europe, with a particular focus on the Franco-German entente, and the lead-up to the Italian election in March 2018. What are your thoughts on the current political situa… read more...

The ECB Qualitatively Tightens In An Already Quantitatively Tightening Situation

via: SeekingAlpha at 2018-02-09 23:42:56:000

(Source: Bloomberg ) After getting hijacked by the weak US Dollar and Secretary Mnuchin, the Hawks on the ECB Governing Council have allegedly decided to postpone a further attempt to change guidance in favor of signalling the normalization to come until June this year. The last report … read more...

The ECB Qualitatively Tightens In An Already Quantitatively Tightening Situation

via: SeekingAlpha at 2018-02-09 23:42:56:000

(Source: Bloomberg ) After getting hijacked by the weak US Dollar and Secretary Mnuchin, the Hawks on the ECB Governing Council have allegedly decided to postpone a further attempt to change guidance in favor of signalling the normalization to come until June this year. The last report … read more...

The ECB Qualitatively Tightens In An Already Quantitatively Tightening Situation

via: SeekingAlpha at 2018-02-09 23:42:56:000

(Source: Bloomberg ) After getting hijacked by the weak US Dollar and Secretary Mnuchin, the Hawks on the ECB Governing Council have allegedly decided to postpone a further attempt to change guidance in favor of signalling the normalization to come until June this year. The last report … read more...

The ECB Qualitatively Tightens In An Already Quantitatively Tightening Situation

via: SeekingAlpha at 2018-02-09 23:42:56:000

(Source: Bloomberg ) After getting hijacked by the weak US Dollar and Secretary Mnuchin, the Hawks on the ECB Governing Council have allegedly decided to postpone a further attempt to change guidance in favor of signalling the normalization to come until June this year. The last report … read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Italian Elections: A Wild Card For European Markets

via: SeekingAlpha at 2018-02-08 06:52:50:000

By Barrington Pitt Miller and Iacopo Dalu Key Takeaways The outcome of Italy's general election on March 4 could make or break its economic recovery - and jeopardize or solidify its place in the European Union. While there is no clear front-runner, a candidate with the newly formed F… read more...

Europe drops more than 1.5% to lowest since November

via: SeekingAlpha at 2018-02-05 12:21:59:000

Reacting to Friday's big afternoon selloff in the States, Europe's Stoxx 600 slid 1.6% today to 382, its weakest close since mid-November. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, Stocks on the m… read more...

Europe drops more than 1.5% to lowest since November

via: SeekingAlpha at 2018-02-05 12:21:59:000

Reacting to Friday's big afternoon selloff in the States, Europe's Stoxx 600 slid 1.6% today to 382, its weakest close since mid-November. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, Stocks on the m… read more...

Europe drops more than 1.5% to lowest since November

via: SeekingAlpha at 2018-02-05 12:21:59:000

Reacting to Friday's big afternoon selloff in the States, Europe's Stoxx 600 slid 1.6% today to 382, its weakest close since mid-November. More news on: Vanguard FTSE Europe ETF, WisdomTree Europe Hedged Equity ETF, SPDR EURO STOXX 50 ETF, Global news and forex, Stocks on the m… read more...

The Road Ahead - A European View Of Trends In The Mutual Funds Industry

via: SeekingAlpha at 2018-02-05 05:29:37:000

By Detlef Glow The year 2017 was a record year for the European fund industry, with inflows into mutual funds reaching a new all-time high, in conjunction with a generally positive market environment driving the assets under management to a new all-time high. Chart 1: Assets Under Manag… read more...

The Road Ahead - A European View Of Trends In The Mutual Funds Industry

via: SeekingAlpha at 2018-02-05 05:29:37:000

By Detlef Glow The year 2017 was a record year for the European fund industry, with inflows into mutual funds reaching a new all-time high, in conjunction with a generally positive market environment driving the assets under management to a new all-time high. Chart 1: Assets Under Manag… read more...

The Road Ahead - A European View Of Trends In The Mutual Funds Industry

via: SeekingAlpha at 2018-02-05 05:29:37:000

By Detlef Glow The year 2017 was a record year for the European fund industry, with inflows into mutual funds reaching a new all-time high, in conjunction with a generally positive market environment driving the assets under management to a new all-time high. Chart 1: Assets Under Manag… read more...

The Big German Zombie

via: SeekingAlpha at 2018-02-04 04:48:29:000

It's kind of a cheap shot to go back and rehash corporate statements from way back in the past. Still, when the topic is banking and why the monetary system refuses more than intermittent and minor progress, it's worth the revisit. What's different now than before 2008, really August 2007, is … read more...

The Big German Zombie

via: SeekingAlpha at 2018-02-04 04:48:29:000

It's kind of a cheap shot to go back and rehash corporate statements from way back in the past. Still, when the topic is banking and why the monetary system refuses more than intermittent and minor progress, it's worth the revisit. What's different now than before 2008, really August 2007, is … read more...

The Big German Zombie

via: SeekingAlpha at 2018-02-04 04:48:29:000

It's kind of a cheap shot to go back and rehash corporate statements from way back in the past. Still, when the topic is banking and why the monetary system refuses more than intermittent and minor progress, it's worth the revisit. What's different now than before 2008, really August 2007, is … read more...

Eurozone: What Is Hidden In The Data?

via: SeekingAlpha at 2018-02-01 15:15:18:000

According to the preliminary flash estimate Eurozone GDP increased by 0.6% qoq or 2.7% yoy, in line with the consensus expectations. At the same time, Q3 GDP data have been revised upwards from the previously estimated 0.6% qoq and 2.6% yoy increase, to a 0.7% qoq and 2.8% yoy increase. Fu… read more...

Eurozone: What Is Hidden In The Data?

via: SeekingAlpha at 2018-02-01 15:15:18:000

According to the preliminary flash estimate Eurozone GDP increased by 0.6% qoq or 2.7% yoy, in line with the consensus expectations. At the same time, Q3 GDP data have been revised upwards from the previously estimated 0.6% qoq and 2.6% yoy increase, to a 0.7% qoq and 2.8% yoy increase. Fu… read more...

Eurozone: What Is Hidden In The Data?

via: SeekingAlpha at 2018-02-01 15:15:18:000

According to the preliminary flash estimate Eurozone GDP increased by 0.6% qoq or 2.7% yoy, in line with the consensus expectations. At the same time, Q3 GDP data have been revised upwards from the previously estimated 0.6% qoq and 2.6% yoy increase, to a 0.7% qoq and 2.8% yoy increase. Fu… read more...

The Historical Warnings Of Money

via: SeekingAlpha at 2018-02-01 04:59:45:000

By Jeffrey P. Snider It's interesting, to me anyway, that an image of the Roman goddess Juno remains to this day on the logo of the Bank of England. There are many stories about her role as it relates to money, but what cannot be denied is that the very word itself came to us from her temp… read more...

The Historical Warnings Of Money

via: SeekingAlpha at 2018-02-01 04:59:45:000

By Jeffrey P. Snider It's interesting, to me anyway, that an image of the Roman goddess Juno remains to this day on the logo of the Bank of England. There are many stories about her role as it relates to money, but what cannot be denied is that the very word itself came to us from her temp… read more...

The Historical Warnings Of Money

via: SeekingAlpha at 2018-02-01 04:59:45:000

By Jeffrey P. Snider It's interesting, to me anyway, that an image of the Roman goddess Juno remains to this day on the logo of the Bank of England. There are many stories about her role as it relates to money, but what cannot be denied is that the very word itself came to us from her temp… read more...

European Economic Challenges In The Age Of Trump

via: SeekingAlpha at 2018-02-01 02:35:43:000

On this AEI Events Podcast , AEI scholars Stan Veuger and Desmond Lachman host a panel of policy experts to discuss European economic challenges in the age of Trump. Guests Mahmood Pradhan and Alessandtro Leipold of the International Monetary Fund, along with Athanasios Orphanides from the Ma… read more...

European Economic Challenges In The Age Of Trump

via: SeekingAlpha at 2018-02-01 02:35:43:000

On this AEI Events Podcast , AEI scholars Stan Veuger and Desmond Lachman host a panel of policy experts to discuss European economic challenges in the age of Trump. Guests Mahmood Pradhan and Alessandtro Leipold of the International Monetary Fund, along with Athanasios Orphanides from the Ma… read more...

European Economic Challenges In The Age Of Trump

via: SeekingAlpha at 2018-02-01 02:35:43:000

On this AEI Events Podcast , AEI scholars Stan Veuger and Desmond Lachman host a panel of policy experts to discuss European economic challenges in the age of Trump. Guests Mahmood Pradhan and Alessandtro Leipold of the International Monetary Fund, along with Athanasios Orphanides from the Ma… read more...

Just What The Doctor Ordered

via: SeekingAlpha at 2018-01-29 04:47:26:000

How things have improved. Two years ago, there was quite a scary situation in the world economy. Brexit, eurozone elections, explosive situations. China devaluation risk, capital outflows. Emerging market dollar denominated debt. Euro implosion would have triggered the latter two thr… read more...

Just What The Doctor Ordered

via: SeekingAlpha at 2018-01-29 04:47:26:000

How things have improved. Two years ago, there was quite a scary situation in the world economy. Brexit, eurozone elections, explosive situations. China devaluation risk, capital outflows. Emerging market dollar denominated debt. Euro implosion would have triggered the latter two thr… read more...

Just What The Doctor Ordered

via: SeekingAlpha at 2018-01-29 04:47:26:000

How things have improved. Two years ago, there was quite a scary situation in the world economy. Brexit, eurozone elections, explosive situations. China devaluation risk, capital outflows. Emerging market dollar denominated debt. Euro implosion would have triggered the latter two thr… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

The Underappreciated Story: How Brexit Threatens To Shift The Balance Of Power In The EU

via: SeekingAlpha at 2018-01-26 13:35:54:000

By David Zahn, CFA, FRM Head of European Fixed Income, Senior Vice President, Franklin Templeton Fixed Income Group For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin T… read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Short And Sharp: Markets Finally Catching Up With The Eurozone's Strength

via: SeekingAlpha at 2018-01-26 02:22:38:000

By Seema Shah, Global Investment Strategist, Principal Global Investors Something's up in Europe. And if the situation continues, more things may be up in a year's time. Growth is up; 2017 probably saw the strongest pace of economic expansion in the euro area since 2011. Despite this, the … read more...

Hated Euro Banks Are The New Turnaround Story

via: SeekingAlpha at 2018-01-25 05:48:56:000

European financials have been one of the most hated areas of the market for years. Investors have been jumping ship and moving capital to a more productive place. It's just too hard for these banks to make money with interest rates so low. But the bear thesis dies once interest rates rever… read more...

Hated Euro Banks Are The New Turnaround Story

via: SeekingAlpha at 2018-01-25 05:48:56:000

European financials have been one of the most hated areas of the market for years. Investors have been jumping ship and moving capital to a more productive place. It's just too hard for these banks to make money with interest rates so low. But the bear thesis dies once interest rates rever… read more...

Interest Rates, Demographics And Secular Stagnation: Euro Area 2018-2025

via: SeekingAlpha at 2018-01-23 08:23:03:000

An interesting recent paper from the ECB on the link between monetary policy (interest rates) and secular stagnation, Ferrero, Giuseppe and Gross, Marco and Neri, Stefano, ECB Working Paper, titled "On Secular Stagnation and Low Interest Rates: Demography Matters" (July 26, 2017, ECB WP No. … read more...

International Economic Week In Review: The Good News Continues

via: SeekingAlpha at 2018-01-22 02:30:01:000

The overall tenor of international news is still positive. While UK retail sales are slowing, they are still up modestly Y/Y. Although EU news was slightly weaker than we've been used to over the last few months, this week's data has been weak for most of this expansion. Australia's growth is … read more...

2018 Around The World: A Survey Of Key Country Risks

via: SeekingAlpha at 2018-01-19 16:26:34:000

Introduction The benign global economic backdrop has elevated the importance of country risks for investors, driving down intercountry correlations (see Figure 1) and increasing potential opportunities. Country differentiation will matter in 2018, as each country faces a unique set of risks…. read more...

Davos Preview: Chinese Strategic Weakness Meets American Strategic Weakness

via: SeekingAlpha at 2018-01-19 14:51:24:000

The thesis of the last report alleged China's pivot from a domestic political orientation towards a global one. The global interface was presented as China's Belt and Road initiative. Vice Premier Zhang Gaoli recently gave further support to this thesis when he called for greater effort … read more...

3 German Economic Challenges With European Effect

via: SeekingAlpha at 2018-01-19 03:26:11:000

Originally posted on January 17, 2018 By Christine Lagarde , Managing Director of the International Monetary Fund. The economic outlook for Germany is bright. Optimism among investors abounds, and unemployment is at a record low. Policymakers now have a unique opportunity to addres… read more...

ECB And The Euro

via: SeekingAlpha at 2018-01-17 10:39:40:000

After sliding from mid-2014, the euro's bottom solidified last year when it became clear that the populist- nationalist wave that was said to be behind the UK rejection of the EU and the US election of Trump was not going to take control in Europe. There may be nothing like an uptrend in the … read more...

Catalonian Independence And The Stock Market

via: SeekingAlpha at 2018-01-16 04:55:28:000

By Mary Fjelstad, senior research analyst Precisely when and how markets factor expectations of political change into valuations can be difficult to pinpoint. Lately, however, we've become accustomed to political reversals and upheavals having a significant impact, both immediate and long … read more...

Ex-Date Payment Date Record Date Declared Date Amount Flag Dividend Type Qualified Indicated
2017-12-18 2017-12-29 2017-12-19 2017-12-15 0.11797 Dividend income
2017-09-18 2017-10-31 2017-09-19 2017-09-15 0.13749 Dividend income
2017-06-16 2017-07-31 2017-06-20 2017-06-15 0.31929 Dividend income
2017-03-17 2017-04-28 2017-03-21 2017-03-16 0.15677 Dividend income
2016-12-16 2016-12-30 2016-12-20 2016-12-16 0.17565 Dividend income
2016-06-17 2016-07-29 2016-06-21 2016-06-16 0.27408 Dividend income
2016-03-18 2016-04-29 2016-03-22 2016-03-17 0.16621 Dividend income
2015-12-18 2015-12-31 2015-12-22 2015-12-17 0.26154 Dividend income
2015-09-18 2015-10-30 2015-09-22 2015-09-17 0.25583 Dividend income
2015-06-19 2015-07-31 2015-06-23 2015-06-18 0.1934 Dividend income
2015-03-20 2015-04-30 2015-03-24 2015-03-19 0.0579 Dividend income
2014-12-19 2014-12-31 2014-12-23 2014-12-18 0.37201 UR Dividend income
2014-09-19 2014-10-31 2014-09-23 2014-09-18 0.14949 UR Dividend income
2014-06-20 2014-07-31 2014-06-24 2014-06-19 0.28651 UR Dividend income
2014-03-21 2014-04-30 2014-03-25 2014-03-20 0.43739 Dividend income
2013-12-20 2013-12-31 2013-12-24 2013-12-19 0.47385 Dividend income
2013-09-20 2013-10-31 2013-09-24 2013-09-19 0.14255 Dividend income
2013-06-21 2013-07-31 2013-06-25 2013-06-20 0.07561 Dividend income
2013-04-30 2013-04-30 SU Dividend income
2013-03-15 2013-04-30 2013-03-19 UR Dividend income
Ex-Date Declared Date Record Date Payment Date Ratio To Factor For Factor
Data provided for free by IEX