European Central Bank

Europe Slides For Third Day As Oil Attempts A Rebound; US Futures Flat

US equity futures were marginally in the red, while Asian markets rose and European stocks dropped. WTI oil rose 0.61% to $42.79 as some suggest the time to go long has arrived; oil tumbled 2.3% in the previous session. The Bloomberg Dollar Spot Index fell 0.1 percent.

Welcome To The Valium Era

"Nothing shocks this market... Nothing rocks it... Nothing socks it to it... Nothing does... that is, until something does."

Global Markets Rebound As Tech Rout Ends; Sterling Rises

As the Fed begins its two-day meeting, global stocks have recovered their footing and European shares rise, led by a bounce in tech stocks as last Friday's global selloff that started in the sector shows signs of abating. Asian stocks and U.S. futures gain as investors turn their attention to today's Jeff Sessions testimony as well as tomorrow's barrage of macro data including Yellen, CPI and retail sales.

When Will The European Super-Bubble Pop?

In early May, France elected globalist darling Emmanuel Macron. His victory gave the EU a short-term boost. However, it did not change the fundamental problems with Europe’s artificial mega-state.

Frontrunning: June 9

  • UK voters deal May a crushing blow (Reuters)
  • May Fights to Remain U.K. Premier After Election Debacle (BBG)
  • Warning of U.S. desertion, EU chief calls for European defense (Reuters)
  • EU Turns Schadenfreude Up to Maximum After May Election Disaster (BBG)
  • Dollar cleans up as UK election shock stuns sterling (Reuters)
  • Trump tweets on Comey, declares ‘total vindication’ (AP)

Frontrunning: June 8

  • U.K. Election Remains Tight as Voters Head to the Polls (WSJ)
  • Trump Will Be Watching Comey Just Like the Rest of Us (BBG)
  • What we know about U.S. probes of Russian meddling in 2016 election (Reuters)
  • ECB Drops Reference to Future Interest-Rate Cut (WSJ)
  • Euro zone growth revised up to highest rate in two years (Reuters)

The U.K. Election: An Outsider Looking In

"Intuition suggests Saturday night’s horrific terrorist attacks on London Bridge would have solidified Conservative’s lead. But the polls counter-intuitively indicate a move in the opposite direction... It’s notable that May’s lead did not initially narrow based solely on events that were out of her control, as in three terrorist attacks in three months. Rather, it was her vow to make pensioners’ benefits progressive..."

Futures Flat, Market Anxiety Eased By European Bank Rescue

European and Asian stocks, as well as S&P futures were little changed ahead of "Super Thursday's" events which include the U.K. general election, Comey's testimony and the ECB policy decision. That however may change following a Bloomberg news report that the ECB is set to cut inflation forecasts through 2019 due to weaker energy prices, suggesting the "hawkish" ECB announcement some had expected tomorrow has been postponed.