-
Draghi Hints At New LTROs In Jerusalem Speech as Spanish, Italian Stocks Gain
Tuesday, June 18, 2013 - 8:36am | 1024Read More...European Central Bank President Mario Draghi overnight hinted at a further extension of the longer-term refinancing operations (LTROs) that helped to un-freeze European credit markets back in late 2011 and early 2012. On December 21, 2011, the ECB made available to European banks 3-year one...
-
Benzinga Market Primer: Tuesday, June 18
Tuesday, June 18, 2013 - 6:20am | 828Read More...Futures Edge Higher In Calm Before the Storm U.S. equity futures rose slightly in pre-market trade Tuesday as investors eagerly awaited the FOMC decision and statement Wednesday. Monday trading was a whip-saw marked by a steep sell-off over tapering fears. Top News In other news around the...
-
Benzinga Market Primer: Friday, January 25
Friday, January 25, 2013 - 7:34am | 940Read More...Futures Rise on Earnings, German Sentiment U.S. equity futures rose in pre-market trading following continued strong earnings and a better than expected report on German business confidence. The IFO Business Climate Index rose to 104.2 in January from 102.4 in December, better than economists...
-
Will the Next Leg of the European Crisis Begin on January 30?
Wednesday, January 23, 2013 - 3:38pm | 535Read More...January 30 is an important date for European banks and for the euro system as a whole. The day could end up passing like any other day, but it could also spark a reversal of months of improvement in credit markets, sending the continent back into the depths of the crisis. Why you may ask? The...
-
Fitch Survey of European Investors Points to LTRO3
Thursday, August 9, 2012 - 12:37pm | 349Read More...A recent survey of European investors conducted by Fitch ratings points to a growing need for a new round of Longer-Term Refinancing Operations (LTROs), which entail cheap financing for private banks from the European Central Bank. The quarterly survey of investors shows that 53 percent of...
-
Benzinga Market Primer, Thursday August 2
Thursday, August 2, 2012 - 6:46am | 681Read More...U.S. equity futures rose ahead of the interest rate decisions from both the Bank of England and the European Central Bank. Also, the People's Bank of China reported that it has not cut rates this month as some had expected. Recall that before the previous two Bank of England decisions, China had...
-
What Would ECB Easing Look Like?
Thursday, July 26, 2012 - 10:24am | 532Read More...The European Central Bank (ECB) is different from the Federal Reserve in a few different ways. The ECB's mandate is different in that it only is meant to keep price stability whereas the Fed is meant to protect a dual mandate of "full" employment and price stability. This divergence has huge...
-
Spanish Yields Rise at Auction, French Yields Fall
Thursday, July 19, 2012 - 11:37am | 478Read More...Spanish yields rose at auction Thursday as fears grew that the banking bailout will become a liability on the country's balance sheet. The weak auctions of 2-, 5-, and 7-year bonds followed poor economic data on Wednesday that showed home prices falling more than expected in the second quarter and...
-
US Treasury Sells 30-Year Bonds At Record Low Yields
Thursday, July 12, 2012 - 5:47pm | 397Read More...The U.S. Treasury Thursday sold 30-year bonds at record low yields of 2.58 percent, well below the previous auction's yield of 2.72 percent. The low yields confirm the flight to safety that has been seen in financial markets over the last few trading days. The U.S. Treasury sold $13 billion of 30-...
-
More Pain at JPM: Trading Loss Doubles, Implications for Others
Tuesday, June 5, 2012 - 9:20am | 416Read More...The trading loss in JP Morgan Chase's (NYSE: JPM) Chief Investment Office continues to grow, as credit conditions around the world deteriorated further after reporting a massive trading loss on May 10. Chief Executive Jamie Dimon at the time said that the losses were tied to credit derivatives the...
-
Does Lackluster Data Mean QE3? Not Yet...
Friday, June 1, 2012 - 10:54am | 407Read More...After the dismal Non-Farm Payrolls Report and the lackluster ISM release, it is hard to see where the growth is coming from. In this light, what are the chances of QE3? How low can rates go? These are all valid questions in this environment, so let us discuss. The chances for QE3 are higher now...
-
Will the ECB's Loans Be Enough to Save Europe?
Friday, March 2, 2012 - 2:13pm | 370Read More...Wednesday, the European Central Bank loaned the European banks 529 billion euros. It is the second long-term refinancing option (LTRO) the ECB has offered in the last few months, following a previous LTRO in December that saw 489 billion euros lent out. LTROs are just one of several possible open...
-
Former ECB Member Stark on CNBC Talking Greece, Eurozone
Friday, February 24, 2012 - 11:30am | 276Read More...Germany's Jurgen Stark was interview on CNBC earlier today. Stark addressed the ongoing situation in the Eurozone. Overall, Stark stated that that structural reforms were needed, and that the people living in indebted countries were aware of the needed reform. Stark stated that European...
-
Draghi Propels Euro Higher
Thursday, January 12, 2012 - 11:52am | 504Read More...On Thursday, the European Central Bank opted to keep its key interest rate unchanged at 1%. The EUR/USD pair rallied, breaking above $1.28 in early trading. In a subsequent press conference, the president of the ECB—Mario Draghi—spoke of his expectations for the Eurozone and the state of the...
-
European Bazooka Proves to be a Dud
Wednesday, December 21, 2011 - 12:11pm | 645Read More...Despite the European Central Bank's best efforts, equity markets rolled over in early trading on Wednesday, as stocks traded lower after experiencing a tremendous run on Tuesday. The Dow Jones Industrial Average traded about 0.50% lower, while the NASDAQ's loss was almost triple that. A decline of...
