Eurozone

Key Events In The Coming Vacation Week: All About Inflation

With the traditional post-payrolls market lull setting in, and most trading desks taking a week or two off, it will be a relatively quiet week with attention turning to inflation data with releases in the US, China, Norway & Switzerland, a key factor as central banks consider if/when to tighten in the near future.

Futures Flat As Payrolls Loom, Dollar Slide Continues

It took stocks only a few minute to "price in" the latest political shock out of Washington, with the Emini trading 0.07% higher this morning on news that Mueller now has a grand jury, while European and Asian shares are little changed as investors await the looming July jobs report.

Credit Investors Are Suddenly Extremely Worried About Central Banks

The latest credit investor survey by Bank of America shows a marked change in the Wall of Worry: "Quantitative Failure" by central banks has emerged as investors’ top concern (23%), up materially from June’s reading (6%). Investors say that a backdrop of the ECB ending QE next year, while inflation remains sub-par, "has the potential to rattle the market’s confidence."

Tech Stumble Drags Global Markets Lower; All Eyes On The BOE

E-mini futures are fractionally lower this morning (0.08%) after Apple's surge helped the DJIA climb above 22,000 for the first time on Wednesday; Global shares declined for the first time in 4 days pressured by tech stocks: Asian shares fell, while Europe pared opening losses to trade unchanged.

Europe's Banking Dysfunction Worsens

Investors who think that Europe is close to adopting an effective approach to dealing with failing banks may want to think again....

Rabobank:"Is This The Real Life? Is This Just Fantasy?"

"The biggest question now must surely be if this latest White House firing is indicative of an administration in total meltdown, in which case the USD seems unlikely to avoid being swept along with it. Or could the new Chief of Staff bring some much-needed discipline and order to the Trump administration?"

Dow Set To Open Above 22,000 As Global Stocks Levitate Higher

Welcome to August: you may be surprised to learn that S&P 500 futures are once again levitating, higher by 0.3%, and tracking European and Asian markets, with DJIA futures higher by over 100 points this morning, the Dow Jones is set to open above 22,000, a new all time high as Asian stocks hit a new decade high.

Global Stocks Rise On "Growth Optimism", Ignore Political Turmoil; Dollar, Oil Creep Higher

S&P futures rose 0.1% on the last trading day of the month, trailing European and Asian markets boosted by China's July Mfg. PMI, which despite declining from from 51.7 to 51.4, and missing expecations  of 51.5, saw the construction index rise to its highest level since December 13, sending Chinese iron ore futures surging and the European commodity sector broadly higher.