Germany

How Far Can Bond Yields Rise Before Hurting Equities? Goldman Answers

"... we believe that the equity market is still at a level that can cope with moderately rising bond yields. We estimate that a rise in US bond yields above 2.75% or probably between 0.75-1% in Germany would create a more serious problem for equity markets: at that point we would expect that any further rises in yields from there would be a negative for stock returns." - Goldman Sachs

Key Events In The "OPEC Is Optimistic About A Deal" Week

The key economic releases this week are consumer confidence on Tuesday, ISM manufacturing on Thursday, and the employment report on Friday. There are a few scheduled speaking engagements from Fed officials this week. The Beige Book for the December FOMC period will be released on Wednesday.

Global Stocks Slide On Italian Bank Worries; Dollar Dips As Trumpflation Takes A Back Seat

European shares dipped and U.S. equity-index futures (-0.3%) pointed to a lower open as traders questioned the stability of the Italian banking sector ahead of next weekend's referendum as well as the longevity of the Trumpflation rally, pressuring the dollar.  "It's a bit of a pull back in the dollar," said Societe Generale strategist Alvin Tan. "The fall in oil is pushing back U.S. bond yields and that is leading the consolidation in the dollar.. there is more scepticism about an (OPEC) output cut now."

Up To Eight Italian Banks May Fail If Renzi Loses Referendum

Just as we were concluding our write up on the return of Europe's solvency crisis, the FT reported that said crisis may be just around the corner because as many as eight of Italy’s troubled banks "risk failing" if prime minister Renzi loses next weekend's constitutional referendum and ensuing market turbulence deters investors from recapitalizing them, citing senior bankers.

A Month Of Multiculturalism In Germany: Child Marriage, No-Go Zones, & Gang Rapes

"There is no doubt that the growing number of Muslims in our country today is testing the tolerance of mainstream society." The 2016 Munich Oktoberfest recorded its lowest turnout since 2001. Visitors reportedly stayed away due to concerns about terrorism and migrant-related sexual assaults. The Federal Statistics Office reported that the birthrate in Germany reached the highest level in 33 years in 2015, boosted mainly by babies born to migrant women.

Towards An 'America First' Trump Trade Policy

America responded to Trump’s call for a new nationalism rooted in the economic principles and patriotism of Hamilton and the men of Mount Rushmore: Washington, Lincoln, Jefferson and Theodore Roosevelt. The president-elect has declared the TPP dead, and says he and his negotiators will walk away rather than accept another NAFTA. Again, good, but again, not good enough, not nearly...The New International Economic Order imposed upon us for decades has to be overthrown.

Europe: Let's Self-Destruct!

A reasonable question that many Europeans might ask would be whether it is not perhaps time to review priorities?

Sprott Money's picture

This Is Where I Get Off

Although we cannot predict how far the elimination of cash will spread, the further you are from the epicentre of the problem, the greater your chances of coming out with your skin on.

Furious Erdogan Lashes Out, Threatens To Let 3 Million Refugees Into Europe

The furious Turkish leader lashed out a day after the European Parliament called for a pause in Turkey’s EU accession talks in protest at Ankara’s “repressive” and “disproportionate” response to a violent coup attempt earlier this year. "We are the ones who feed 3m-3.5m refugees in this country," he said. "You have betrayed your promises. If you go any further those border gates will be opened."

Furious Dollar Rally Fizzles On "Black Friday"; US Stocks Set To Open At New All-Time Highs

Having soared to fresh 13 year highs in a quiet overnight session on thin liquidity due to the US Thanksgiving holiday the dollar pared back its weekly advance with modest profit taking after traders wondered if the rally has gotten "too stretched." European shares were fractionally higher, with Asian stocks and US equity futures rising and both the Dow Jones and the S&P set for new all time highs.