Morgan Stanley

Banks To London Employees: "Don't Panic"

With Brexit officially a go, banks in Britain are scrambling to undo months of verbal damage, and reassure their London employees over possible Brexit disruptions, a potential shift in jobs to continental Europe, and also talking down warnings made in recent months about leaving the City, some in now dashed hopes of getting a Brexit revote.

Morgan Stanley Finds A "Stunning Divergence" In The Economic Data

"The divergence is stunning. Upside surprises appear to be completely driven by the soft data... we would not necessarily expect 'hard data' surprise indices to start racing higher if the factors behind the 2Q growth rebound remain narrowly confined to a few sectors as we expect..."

As Market Tumbles, Investors Rush Into Safe Haven SNAP After Mass Wall Street Upgrade

While US equity markets are shuddering under the uncertainty of President Trump's agenda, it appears investors have found a safe haven for their hard-gambled retirement funds. Following a series of upgrades, overweights, and "buy" recommendations from Wall Street's biggest and brightest commission-takers, SNAP shares are soaring - back to their post-IPO open at $24.

Global Stocks Tumble; Gold, Safe Havens Jump On Doubts Trump Tax Cuts Will Pass

Global stocks tumbled amid growing doubts President Trump will be able to deliver on a promise of tax cuts that has powered stocks markets to record highs pushed shares lower on Wednesday and drove investors to seek safety in government debt, gold and the yen. As DB put it: "Warning! US equities can occasionally go down as well as up a lot."

Frontrunning: March 21

  • Gorsuch Strives to Present Himself as Above Political Fray (WSJ)
  • Investigation Could Hurt Trump’s Clout in Congress (WSJ)
  • U.S. to Ban Laptops and Tablets in Cabins of Some Mideast Flights (BBG)
  • Tillerson no-show at NATO renews European disquiet about Trump (Reuters)
  • Don’t Blame Your Social Media Feed for the Growing Political Divide (BBG)
  • High-Frequency Traders Fall on Hard Times (WSJ)

Global Stocks Rise; Euro Surges To 6 Week High After French Presidential Debate

European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD. The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win.

Global Stocks Soar To Record Highs On "Dovish" Fed, Dutch Vote

World stock indexes surged to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening, while the Dutch elections were broadly interpreted as a drop in support for Europe's anti-establishment powers.

Bill Blain On This Morning's European Euphoria

This morning the European markets are Risk-ON in frothy celebration because Right-Wing demagogue Gert Wilders “apparently” lost the election and won’t dominate the coalition process.