Danske Bank

Global Shares Hit Another Record High In Lethargic Session Ahead Of US Data Deluge

It was another painfully low-volume overnight session, which however did not prevent global stocks from hitting another record highs, capping their best week in over two months as the dollar stayed close to nine-month lows following Yellen's dovish retreat in which she noted caution on persistently low inflation as odds of future rate hikes in 2017 and 2018 dropped.

Global Stocks Rise Amid Strong Economic Data; Yen Drops To 2 Month Low As Oil Resumes Slide

In a quiet overnight session, S&P 500 futures are fractionally in the green (2,426, +0.2%) with European and Asian stocks as oil drops second day after an initial ramp higher amid speculation that LIbya and Nigeria may be asked to cap their production. Nasdaq 100 Index are again higher, following the biggest daily advance in more than a week, up 0.4% as of 6:20 a.m. in New York.

Global Stocks Dip On Poor US Auto Sales, Apple Miss; Fed Decision On Deck

European, Asian stocks and S&P futures all fall as investors digested poor overnight news on Apple earnings and U.S. car sales, while the dollar rose in muted trading as investors contemplated chances of another rate hike next month ahead of today's Federal Reserve statement.

The Hope For A "Greater Fool"

The “Greater Fool Theory” surmises there is always a “greater fool” than you in the market to sell to. For Wall Street, that greater fool is you. Haven’t you ever wondered why Wall Street never tells you to “sell and raise some cash?”

And The World's Most Volatile Currency Is...

A year ago it was the Ruble, but for much of the last year it is the South African Rand that has been the most volatile currency in the world. That is until the last week, as Turkey deals with rising domestic instability (and Erdogan's push for total rule), the Lira has become the world's most unstable currency...

Turkish Central Bank Intervenes To Halt Record Plunge In Lira

While the Turkish central bank's hand are largely tied as per Erdogan's decree that no rates are to be hiked, moments ago the monetary authority, faced with another record plunge in the currency, had no choice but to intervene when it cut FX RRRs by 50 bps, citing "unhealthy" price formation and said it would take additional measures if needed.

Global Equity Euphoria Prepares To Meet Mario Draghi

There’s seemingly no stopping the equity side of the “Trumpflation” trade in what may be developing into an epic year end blow-off top. The euphoria which took the S&P 500, Russell 2000 and the Transports to all-time highs yesterday, and the Dow to less than 500 points away from 20,000 carried over into Asian stocks (+0.8%) as they followed bullish trend, while European stocks rose for a fourth day.