Germany

Euro Surges To 2-Year High In "Bipolar" Draghi Reaction; Futures Flat

"Draghi tried to talk the Euro down, even going so far as to suggest that ECB’s quantitative easing could be increased and prolonged," said Swissquote Bank's Yann Quelenn. "But the currency markets were not buying Draghi’s line, and neither are we. Available bonds are too scarce, and turn to a taper is too clear to disguise."

The Worst Ideological Enemy Of The US Is Now Europe

"Americans, therefore, would do well to understand that for the time being the "Cultural Left" is so deeply entrenched in Western Europe and the EU, that their worst ideological enemy is not the Middle East or Russia: it is Europe."

Visualizing The Countries Suffering Most From Low Oil Prices

As Warren Buffet says, “Only when the tide goes out do you discover who’s been swimming naked.” And in 2014, when oil prices crashed and burned, the tide was gone – and it was shown that too many countries were relying on frothy oil revenues to balance out their trade deficits.

Germany Blocks Defense Exports To Turkey In "Worst Crisis Since World War II"

The "worst crisis between Germany and Turkey since World War II" just took another turn worse, after German media reported that in the latest escalation to date between Berlin and Ankara, Chancellor Angela Merkel will freeze present and future Turkish orders of defense goods amid souring diplomatic relations between the two nations.

Frontrunning: July 20

  • Futures flat as investors await earnings deluge (Reuters)
  • Investors Brace for Clues on ECB’s Tapering Plans (WSJ)
  • When Will the ECB Pull Its Trillions From the Markets? (BBG)
  • Citing Recusal, Trump Says He Wouldn’t Have Hired Sessions (NYT)
  • Trump Urges GOP to Seek Agreement on Health Measure (WSJ)

World Stocks Hit Record High For 10th Consecutive Day In "No-Vol Nirvana"

Traders, so mostly algos, are riding a global risk "high" in stocks as Asia's and then Europe's early 0.4 percent gains ensured MSCI's 47-country All World index was up for a 10th straight session. This is the longest winning streak in global stocks since February 2015 and shows little sign of fatigue even as bond yields edged modestly higher again.

How Government Helped Create The Coming Doctor Shortage

For the last five years, attempts to reform America’s health care system have focused primarily on the demand side of the market, and specifically on the market for insurance. However, one of the most critical supply side issues in health care is the supply of qualified doctors.