Saxo Bank

Banks Are Saving Stocks As FANG Flops Again, DAX Hits 2-Month Lows

Yesterday's 'dead cat bounce' in FANG stocks has been erased as broad-based weakness stemming from increasing recognition of hawkish central bank chatter is hitting stocks and bonds. Bank stocks bounce after stress test 'success' are saving some indices from bigger losses.

Steen Jakobsen: 60% Probability Of Recession In The Next 18 Months

"The 'credit impulse' -- defined as net new credit to GDP -- has gone negative in the world for the first time since the start of the Great Recession...the most likely period for [the recession] to happen would be end of this year because, of course, Trump has not delivered."

Euphoria Returns: European Stocks Soar, Dax Hits Record; S&P Futs Surge In "French Relief Rally"

Risk is definitely on this morning as European shares soar, led by French stocks a new record high in Germany's Dax, and S&P futures up 1.2% after a "French relief rally" in which the first round of the country’s presidential elections prompted investors to bet that establishment candidate Emmanuel Macron will win a runoff vote next month. Asian stocks also surged, expect for China, which suffered its biggest drop of the year, down 1.4%, ending the streak of losses no greater than 1% going back to December.

WTI Crude Crashes Below $50 As Hedgies Lose Faith In OPEC

Oil is headed for its biggest weekly loss since early March as signs that OPEC will continue with output reductions are offset by growing U.S. production and inventory gluts. Having tried and failed to spark some momentum yesterday (via Saudi jawboning and Goldman confidence), WTI Crude just plunged below $50 for the first time since March.

Global Stocks Slide, S&P Futures Tumble Below 50DMA As "Trump Trade" Collapses

Global stocks are lower across the board to start the week, as concerns about Trump's administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend's OPEC meeting in Kuwait where a committee recommended to extend oil production cuts by another 6 months.

Eight Reasons Why The Dutch Election Matters

If 2016 was the year of the breakthrough, 2017 could see the status-quo fightback, with Europe likely to form the battleground ahead of pivotal elections. And, while next month's general election in The Netherlands may not be the biggest showdown of the year, the outcome could set the tone for 2017.

The German 'Anti-Trump' That Could Beat Merkel

German politics = boring politics – in recent decades this equation has generally held true. And yet, with the new Europe we face, that perhaps is no longer the best thing for them to be. Suddenly politics in Germany has become very interesting and the race for the chancellorship looks open again.

May Is Just A Pawn - Trump's Real Target Is Merkel

PM Theresa May flies into Washington for high-level talks this Friday which will no doubt solidify the 'special relationship' that exists between the US and the UK. While the illusion of a mutually beneficial meeting will be spun (and May will get concessions from Trump who is neither anti-trade nor even particularly anti-globalisation) any concessions she wins will be totally in the context of Trump's coming battle with the European Union.