Yen

The Road To Hell Was Paved With Obama Cronyism

It is absolutely imperative to see Trump as a symptom of a sick and broken system as opposed to the root cause of anything. The corporate media and legions of mourning Hillary cultists continue to present the Trump threat in extraordinarily simplistic and unhelpful terms. They act as if he’s the head of some evil snake, and that disposing of him as an individual will get America back on track. This couldn’t be more wrong.

Futures Flat, Global Stocks Near Record High After Minutes Fail To Spark Dollar Rally

One day after the FOMC Minutes guided to a rate hike "fairly soon", but not soon enough in the eyes of the market, the dollar has posted minimal gains, while global stocks held near record highs on Thursday; S&P futures were fractionally in the green to start the session; crude climbed after API showed U.S. stockpiles fell. US and euro zone government bond yields fell as European political fears faded.

Mnuchin Praises Strong Dollar, Adds To Currency Confusion

“For longer-term purposes, an appreciation of the dollar is a good thing, and I would expect longer-term, as you’ve seen over periods of time, the dollar does appreciate. “In the short term, there are certain aspects [of a strong currency] that are positive about the dollar for our economy and there are certain aspects that are not as positive."

European Rally Fizzles, S&P Futures Turn Red As USDJPY Slides, Bunds Strongly Bid

What started off in familiar fashion, with Asian stocks rising, and Europe hitting multi-month highs and US futures in record territory has stumbled in recent minutes following a continued rush for safety in short-dated German Bunds (the 2Y is now trading at -0.92%) and ongoing selling in the USDJPY, which has pushed Stoxx 600 back to unchanged, and S&P futures to modestly red for the session.

Futures, European Shares Stumble After Massively Overbought World Stocks Hit Record High

Whether it is due to overnight news that much of the recent rally may have been due to one specific fund's cover of a synthetic "short SPY" trade, or just because algo traders have gotten a case of overbought robotic vertigo, S&P futures dropped 0.2% in early Thursday trading as risk appetite fizzled and European shares dropped on concern the longest rally since July 2015 went too far, while the yen, bonds and gold advanced as the dollar fell.

Global Stocks Hit 21 Month Highs, Futures Point To New Record Ahead Of Inflation Data

The global "risk on" melt-up continues. After a modestly hawkish Yellen warned that every meeting is live, and refused to take March off the table, sending the dollar and yield higher and the S&P to fresh record highs, world stocks rose hitting a 21-month high on Wednesday with the dollar rising for the 11th straight day, the longest positive streak since July 2015.

Biggest EU Banks Embark On The Mother Of All Debt Binges

Spain’s three biggest banks, Banco Santander, BBVA and Caixa Bank, have got off to a flying start this year having issued €8.6 billion in new debt, seven times the amount they sold during the same period of last year. The last time they rolled out so much debt so quickly was in 2007, the year that Spain’s spectacular real estate bubble reached its climactic peak.