European Central Bank

S&P Futures, Global Stocks Jump Ahead Of US Payrolls As Global Bond Rout Continues

European and Asian shares rise along with a jump in S&P futures which are pointing to a solidly green open on US payrolls day. The dollar, trading somewhat weaker against the euro was stronger against the yen, and was on track for its firth week of gains, while the rout in global Treasuries continued following a Mario Draghi conference that was interpreted as more hawkish than expected.

Crude Plunges Below $49, Dragging Markets Lower; All Eyes On Draghi

While trader attention will soon be focused on the ECB and any potential tightening hints from the central bank, a more pressing development as US traders walk in today, will be ongoing collapse in WTI, which after crashing 5.5% yesterday, has tumbled more than 2% this morning, sliding not only below $50 for the first time since December 1, but also dropped under $49, as a near record number of net long spec positions suddenly rushes to unwind their exposure.

Stocks Mixed As Treasuries Suffer Longest Losing Streak Since 2012, Dollar Pops Ahead Of ADP

Asian markets dropped following disappointing China trade and Japan GDP data, while European stocks rebounded for the first time in five sessions led by miners and banks. US futures were little changed with a strong dollar pressuring oil below $53; sterling slid for the eighth day out of nine before the chancellor of the exchequer delivers his spring budget. Treasuries are headed for their longest losing streak since 2012 ahead of a 10Y U.S. debt auction, and today's ADP private payrolls report.

The Beginning Of The End Of Calm Bond Markets

Although the market is convinced the Federal Reserve will get aggressive with their rate hikes, I am not sure market participants have thought this through. Let’s not forget the Federal Reserve is sitting on the largest balance sheet in history.

OECD Warns There Is A "Disconnect" Between Markets And The Global Economy

"Disconnect between financial markets and fundamentals, potential market volatility, financial vulnerabilities and policy uncertainties could, however, derail the modest recovery. The positive assessment reflected in market valuations appears disconnected from real economy prospects." - OECD

The Second Dumbest Kind Of Money Is Pouring Into Stocks - "With A Vengeance"

One of the traditional signs of market tops is individual investors finally succumbing to the lure of apparently easy money and pouring their savings into the stock market. In the past this dumb money flowed into equity mutual funds in general. But today it’s favoring exchange traded funds (ETFs)...

The "Sinister" Side Of Central Bank-Issued Digital Currency

Central banks and international financial institutions represent? - ?and work for? - ?creditors first and people second. That is why they can be serially wrong with so little direct consequence. This is the backdrop against which we are invited to trust the banking system with central bank-issued digital currency.

The Greek "Bank Jog" Is Back: Bank Deposits Tumble To Lowest Since 2001

Greek private sector bank deposits declined in January for the second month in a row, driven by renewed concerns over the country's neverending bailout. Business and household deposits fell by €1.63 billion, or 1.34% month-on-month to €119.75 billion ($126.8 billion), the lowest level since November 2001.