Capital Markets

Putin Orders Russian Media To "Cut Back" On Positive Trump Coverage

Vladimir Putin has ordered Russian state media to cut "way back" on their fawning coverage of President Donald Trump, in what three Bloomberg sources say is a "reflection of growing concern among senior Russian officials that the new U.S. administration will be less friendly than first thought."

Global Stocks Hit 21 Month Highs, Futures Point To New Record Ahead Of Inflation Data

The global "risk on" melt-up continues. After a modestly hawkish Yellen warned that every meeting is live, and refused to take March off the table, sending the dollar and yield higher and the S&P to fresh record highs, world stocks rose hitting a 21-month high on Wednesday with the dollar rising for the 11th straight day, the longest positive streak since July 2015.

Biggest EU Banks Embark On The Mother Of All Debt Binges

Spain’s three biggest banks, Banco Santander, BBVA and Caixa Bank, have got off to a flying start this year having issued €8.6 billion in new debt, seven times the amount they sold during the same period of last year. The last time they rolled out so much debt so quickly was in 2007, the year that Spain’s spectacular real estate bubble reached its climactic peak.

Credit Suisse Announces Another 6,500 Layoffs After Reporting 2016 Loss

After Credit Suisse reported yet another significant loss for the full year 2016, amounting to 2.35 billion Swiss francs, more than the CHF2.07bn expected, the Swiss banking giant said it was looking to lay off up to 6,500 workers and said it was examining alternatives to a planned stock market listing of its Swiss business.

Is Greece Really On The Verge Of Another Financial Crisis?

Just about every adult on earth has seen this show before. Greece faces a debt repayment that it cannot meet... and needs fresh bailout funds. Past budget stringency has failed to relieve Greece’s predicament. If Athens were to unwind this crony-capitalist regulatory regime, it would generate an economic dynamism that Greece desperately needs.

Deep Thoughts From Howard Marks

"When things are going well people become greedy and enthusiastic, and when times are troubled, people become fearful and reticent. That’s just the wrong thing to do. It’s important to control fear and greed... Too little skepticism and too much eagerness in an up-market – just like too much resistance and pessimism in a down-market – can be very bad for investment results."

S&P Futures, European Stocks Bounce As Dollar Rises Most In Two Weeks; Gold, Yen Slide

The dollar rebounded from a key support level, strengthening against all major peers, pushing S&P futures higher as European shares rose, led by basic resources and real estate, while Asian stocks fall. Gold fell from its highest level since November as demand for some haven assets ebbed while global bonds declined. Oil dipped, pressured by a stronger dollar.