RBS

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The people who are likely to win the next election want to take Italy out of the euro and replace the euro with their own currency, the lira. Unfortunately for the EU, if Greece was a tricky issue to deal with, Italy is — in economic terms — a massive Greece …

What Time Will The ECB Tip Its Hand

With traders' fingers poised over the buy (and to a lesser extent) the sell button, waiting for the ECB to lay out the mechanics of its QE extension with or without tapering, the question is what time is more important: the 1:45pm CET (7:45am ET) statement release or the 2:30pm CET press conference. Courtesy of Bloomberg here are some thoughts on which time will be more relevant. 

RBS Tumbles After Failing BoE's "Toughest Ever Stress Test"

While the term 'stress test' has been applied almost mockingly to European and US banks in an effort to create confidence for investors (because if the government sees risks 'contained' then why worry), this morning's Bank of England stress test results highlighted "capital inadequacies" for three major UK banks. While Barclays and Standard Chartered fell short, it is taxpayer-owned Royal Bank of Scotland that is slumping on a need to cut costs, raise capital, and sell assets.

Frontrunning: November 30

  • Oil soars on OPEC hopes, dollar renews its surge (Reuters)
  • Oil Rallies on OPEC Optimism, Spurring Gains in Energy Producers (BBG)
  • Saudis say to take 'big hit' on oil output for OPEC deal, Iran can freeze (Reuters)
  • Leaner and meaner: U.S. shale greater threat to OPEC after oil price war (Reuters)
  • an the U.S. Become an Energy Superpower in 2017? (BBG)
  • RBS Fails Toughest-Ever BOE Stress Test, Boosts Capital Plan (RBS)

Frontrunning: November 17

  • Dollar halts charge as bashed bonds steady (Reuters)
  • BOJ Fires Warning at Bond Market With Unlimited Buying Plan (BBG)
  • Trump Flouts Traditions Heading Into an Office Defined by Them (BBG)
  • Mr. Hedge Fund Goes to Washington, Looking for Ally in Trump (BBG)
  • Donald Trump’s Son-in-Law, Jared Kushner, Could Get Key White House Role (WSJ)