Deutsche Bank

Greek, Italian Risks Weigh On European, Global Markets; Oil, Gold Slide

Tuesday's session started off on the back foot, with the Euro first sliding on Draghi's dovish comments before Europarliament on Monday coupled with a Bild report late on Monday according to which Greece was prepared to forego its next debt payment if not relief is offered by creditors, pushing European stocks lower as much as -0.6%. However the initial weakness reversed after Greece denied the Bild report. S&P futures are fractionally lower

Global Rally Fizzles After "OPEC Shock" In "Slow Risk-Off Session"

S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.

What Do Rate Hikes Have To Do With Crashing Libor-OIS Spreads?

Since peaking last September at 44bps, 3m Libor-OIS has seemingly collapsed each time the market got excited about higher rates. In fact, whenever the fed funds implied probability of a rate hike jumped just prior to an upcoming FOMC meeting, a drastic narrowing of Libor-OIS ensued.  What rate hikes have to do with Libor-OIS spreads

Global Markets Thrown For A Loop After Comey's Shocking Sacking

“There is no doubt that Trump is dominating proceedings this morning after the sacking of Comey. This is a political story rather than a market story, but yet again it creates uncertainty in the market, which leaves everything the president does with a cloud floating over it" said James Hughes of GKFX.

What's Next For President Macron

With the French presidential election now in the rearview mirror, the market turns its attention to the immediate next steps facing the youngest ever French president. Among the most pressing items are naming a prime minister, forming a government, passing labor market reform, and negotiating Brexit.