Germany

Political Worries Keep Europe On Edge As Earnings Push Stocks Higher; US Futures Unchanged

In a mostly quiet Wednesday session, Asian stocks rose overnight along with European bourses, which were led higher by miners after Rio Tinto posted higher profits for the first time in three years and a bigger-than-expected dividend, while India’s Sensex extended declines after the central bank unexpectedly left rates unchanged. US futures were little changed as oil continued to fall after API reported a huge inventory build

Dear IMF, Please Put Greece Out Of Its Misery

For the umpteenth time, the IMF has warned that Greece cannot meet fiscal targets set by its creditors. And once again, the IMF insists that it will not be a part of the “Troika” unless the goals on Greece are realistic. History suggests the IMF will cave in to Germany and agree to some half-baked plan (make that 1/8th baked plan) that will supposedly put Greece back on track. Such nonsense has been going on for years. Mercy, Please!

US Tanks, Troops Arrive In Estonia As Part Of NATO Anti-Russia Build Up

As part of continued a NATO build-up and US efforts to counter an alleged Russian threat, US military hardware, including M1A2 Abrams battle tanks and Bradley infantry fighting vehicles have arrived in the northern Estonian town of Tapa, shortly after similar deployments were made to other Eastern European nations including Poland, Bulgaria, Romania and Germany.

German Industrial Production Plunges Most Since 2009

Just day after President Trump suggests Germany is a currency manipulator, and as Merkel looks set to lose her Chancellorship, Europe's powerhouse economy just collapsed in December. Industrial production plunged 3.0% MoM in December - the biggest drop since Jan 2009 and over 8 standard deviations below expectations.

Bild Asks "Is Germany Tired Of Merkel?"

Germany's mass-selling tabloid Bild openly questioned whether voters have had enough of Chancellor Angela Merkel. "Is Germany tired of Merkel?" Bild asked in a headline after a survey for the newspaper by pollster INSA put the center-left SPD on 31 percent and Merkel's conservative bloc on 30 percent.

US Trade Deficit In 2016 Was The Biggest In Four Years

While the good news is that for December the US trade deficit narrowed modestly to $44.3 billion, better than expected, the bad news is that for all of 2016, the goods and services deficit was $502.3 billion, up $1.9 billion from $500.4 billion in 2015, and the biggest deficit going back to 2012.

S&P Futures, European Stocks Bounce As Dollar Rises Most In Two Weeks; Gold, Yen Slide

The dollar rebounded from a key support level, strengthening against all major peers, pushing S&P futures higher as European shares rose, led by basic resources and real estate, while Asian stocks fall. Gold fell from its highest level since November as demand for some haven assets ebbed while global bonds declined. Oil dipped, pressured by a stronger dollar.

Shock Poll Shows Merkel Losing Chancellorship If Elections Held Today; JPMorgan Stunned

This afternoon, a new opinion poll from INSA showed the SPD gaining further support and overtaking the CDU/CSU for the first time in many years. If elections were held now, the INSA poll suggests that the CDU would get 30% of the vote, while the SPD would get 31%. This means that Schulz would enter any coalition talks as the leader of the largest party, hence becoming Chancellor.