Italy

Global Stock Meltup Sends Nikkei To 25 Year High

The global risk levitation continues, sending Asian stocks just shy of records, to the highest since November 2007 and Japan's Nikkei topped 22,750 - a level last seen in 1992 - while European shares and US equity futures were mixed, and the dollar rose across the board, gains accelerating through the European session with the EURUSD sumping below 1.16,

Berlusconi: The Greatest Comeback Since Lazarus?

Exit polls suggest Silvio Berlusconi's political comeback took an important step forward in the Sicilian elections on Sunday. Expulsion from public office, tax fraud, sex scandals and open heart surgery cannot stop 81-year old Silvio playing a major role in Italy's political circus.

Meotti: The Migrant Crisis Upended Europe

"The migrant crisis is the 9/11 of the European Union... That day in 2001, everything changed in the US. In a minute, America discovered its vulnerability. Migrants had the same effect in Europe...It is a turning point in the political dynamics of the European project..."

Dollar Rebounds, Futures Rise Ahead Of Surge In Payrolls

One day after the dollar slumped sharply on initial disappointment with the GOP tax plan, the greenback has rebounded ahead of a nonfarm payrolls report that is expected to show the US economy gained over 300,000 jobs in the post-hurricane rebound, and as investors reassessed the latest news on U.S. tax-cut plans. Stocks in Europe and Asia advanced, US equity futures were as usual in the green,

Sorting Out The Russia Mess

"The U.S. mainstream media finally has its 'smoking gun' on Russia-gate - incriminating information from a junior Trump campaign adviser - but a closer look reveals serious problems with the 'evidence'..."

Traders On Hold As "Super Thursday" Looms

Yesterday's brief dip in ES has been promptly bought with US equity futures fractionally lower, Asian shares inching higher on Thursday and Europe unchanged ahead of today's Super Thursday, where we get the Republican tax bill revealed shortly before noon, the BoE's rate hike announcement, and Trump appointing Jay Powell as the next Fed chair, as well as as earnings from companies including Apple and Starbucks.

World Stocks Soar To New Record Highs As Oil, Metals Surge Ahead Of The Fed

US equity futures have hit a new all time high, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday.

US Futures Rebound After Disappointing Chinese, European Data

Yesterday's sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb.

Europe Will Reap What Spain Has Sown

"If the Spanish suppression of Catalonia succeeds, the Basques may see themselves as next on Rajoy’s list. Unlike the Catalans, the Basques have shown Madrid that they are quite capable of bringing a war home to the very center of the Spanish state in Madrid. "

European Bond Yields Are Crashing

It appears Draghi has done it again. Since last week's dovish ECB QE taper, European sovereign bond yields have plunged and today are accelerating notably lower with Italian 10Y yields crashing 10bps to 2017 lows...

S&P Futures Slide After Chinese Stock And Bond Rout; Spain Rebounds, Dollar Drops

U.S. futures slid 0.2% as investors awaited a barrage of announcements including Wednesday's Fed decision, Friday's jobs report and, most importantly Trump's imminent announcement of who the next Fed chairman will be, although after the latest trial balloons, Jay Powell is now largely priced in, even as they kept a weary eye on the biggest Chinese stock and bond rout in months.

Who Feels EU Membership Has Paid Off? (Spoiler Alert: Not Italy)

Despite the rising euroskepticism and populist turmoil, majorities in many countries feel they have benefited from EU membership (90% of the Irish). However, three nations currently have a majority of their citizens who see the EU as a net negative...