Portugal

Tyler Durden's picture

Demographic Devastation: Italy's Birth Rate Drops To 150 Year Low





Italian women would "like to have more [children], but the conditions just aren't good enough," laments one new mother as CBS News reports, official figures show that in 2014 there were fewer babies born in Italy than at any time since 1861. "Nowadays people don't want to raise their child in poverty," but Pope Francis had a different opinion, as The Guardian reported, "a society with a greedy generation, that doesn't want to surround itself with children, that considers them above all worrisome, a weight, a risk, is a depressed society."

 
GoldCore's picture

“This Is A New World Order” - NATO Will Not Allow Greece Leave EU - Faber





He has previously advised to act as your own own central bank and buy physical precious metals as a hedge against currency depreciation and geopolitical crises. Faber believes that storing gold in Singapore is the safest way to own gold today.

 
Tyler Durden's picture

IMF Preparing Greek Default Contingency Plan





The biggest slow motion trainwreck in history, one that everyone knows how it ends just not when (especially since the "when" is about 5 years overdue), that of the Greek sovereign default may just got a bit more exciting earlier today when the WSJ reported that the IMF can no longer lie - like Mario Draghi did to Zero Hedge in 2013 - that there are preparation for a Plan B. To wit: "the International Monetary Fund is working with national authorities in southeastern Europe on contingency plans for a Greek default, a senior fund official said—a rare public admission that regulators are preparing for the potential failure to agree on continued aid for Athens."

 
Tyler Durden's picture

Futures Rise Following "Dramatic" UK Election Result, All Eyes On Payrolls





While the US is waking up in anticipation of what is once again said to be the "most important nonfarm payrolls number" at least since the last most important such number, because anything 250,000 and above puts the June rate hike right back on the Fed calendar, while a collapse in this lagging indicator will be explained away with harsh rain showers in April, and send stocks soaring due to yet another delay in tightening expectations despite Yellen's outright warning of overvalued stocks, the UK has been up all night following a dramatic election, whose outcome has been largely the opposite of what the experts predicted, with Conservatives set to win an outright majority, resulting in embarrassment for Labor, the Liberal Democrats and the UKIP, both of which have already seen dramatic changes in their leadership, and moments ago both Nick Clegg and Nigel Farage announced they would stand down as party leaders.

 
Tyler Durden's picture

Global Bond Rout Sends Futures Tumbling, Bund Has Sharpest Weekly Selloff In History





BOND SELLOFF DEEPENS; GERMAN 10-YR YIELD JUMPS 17 BPS TO 0.76%
SPANISH 10-YEAR BOND YIELD CLIMBS TO 2%; HIGHEST SINCE NOV. 24
ITALIAN 10-YEAR BOND YIELD CLIMBS ABOVE 2%; 1ST TIME THIS YEAR
10Y TREASURY YIELD CLIMBS 6BPS TO 2.31%, HIGHEST SINCE DEC. 8
U.K. 10-YR BOND YIELD CLIMBS 8 BPS TO 2.06%; MOST SINCE NOV. 24
JAPAN 10Y YIELD UP 7.5 BPS, SET FOR BIGGEST RISE SINCE MAY 2013

 
Marc To Market's picture

Dollar Better than Gold? Ask Venezuela





Venezuela swapped its gold at a 40% discount for dollars and has to pay intrerest on those dollars.  Not anti-gold rant.  Google story if you  doubt the facts I cite. 

 
Tyler Durden's picture

Futures, Treasurys Flat After Chinese Stock Bubble "Incident"; Bunds Stage Feeble Rebound





If yesterday's laughable lack of volume (helped by the closure of Japan and the UK) coupled with hopes that the end of the buyback blackout period was enough to send stocks surging if only to end with a whimper below all time highs despite what is now looking like three consecutive quarters of Y/Y EPS declines according to Factset, today's ramp will be more difficult for the NY Fed and Citadel to engineer, not least of all due to the headwind of the overnight "incident" by China's stock bubble which saw the Shanghai Composite tumble by 4%, the most since January.

 
Tyler Durden's picture

"Stop Being So Negative": Putting It All Together





Considering:

1) governments are unable to eliminate deficits
2) global government debt is increasing exponentially
3) 0% interest rates are allowing governments to borrow more to pay off old loans and fund deficits
4) Global growth is declining despite money printing and bailouts And, we've saved the latest and greatest fact for last: as stunning as 0% interest rates sound, the mathematically-challenged-fantasyland called Europe has just one upped everyone by introducing NEGATIVE INTEREST RATES.

 
Tyler Durden's picture

Futures Levitate Following Worst Chinese Mfg PMI In One Year, Brent At 2015 Highs; Bund Slide Continues





The best news for stocks is twofold: volumes continue to be lethargic with both the UK (May Day bank holiday) and Japan closed until Thursday (Golden Week), while the bulk of the S&P500 has now exited the stock buyback quiet period. As such, ignore record equity outflows - all the matters is that corporate CFOs, flush with brand news bond issuance cash, will tell their favorite Wall Street trading desk to buy stocks at just the right inflection point sending the market surging just as shorts once again test the downtrend and the 50 DMA.

 
Tyler Durden's picture

Equity Futures Spooked By Second Day Of Bund Dumping, EUR Surges; Nikkei Slides





The biggest overnight story was neither out of China, where despite the ridiculous surge in new account openings and margin debt the SHCOMP dipped 08%, or out of Japan, where the Nikkei dropped 2.7%, the biggest drop in months, after the BOJ disappointed some by not monetizing more than 100% of net issuance and keeping QE unchanged, but Europe where for the second day in a row there was a furious selloff of Bunds at the open of trading, which briefly sent the yield on the 10Y to 0.38% (it was 0.6% two weeks ago), in turn sending the EURUSD soaring by almost 200 pips to a two month high of 1.1250, and weighing on US equity futures, before retracing some of the losses.

 
Tyler Durden's picture

EUR Strength Sparks DAX Rout To 7-Week Lows





It appears Draghi's gonna need a bigger bazooka... The last 2 days have seen the biggest drop in 5 months for the German stock market. DAX is now back at 7-week lows as EUR strengthens above 1.11 as the YoY rise in European lending has prompted fears of an early taper (and The Fed looks set to be on hold for longer) and fast money has moved on to China amid Grexit fears. Peripheral bond spreads are weak again - especially Portugal.

 
Tyler Durden's picture

Greek Blame Game: At Whom Will History Point The Finger?





If Greece does indeed end up exiting the common currency or if the intractable nature of debt negotiations end up triggering an "accident" that plunges the country into social unrest and years of unprecedented economic hardship, no one wants to be "the one holding the murder weapon." 

 
Tyler Durden's picture

Futures Fizzle After Greece "Hammered" In Riga, Varoufakis Accused Of Being "A Time-Waster, Gambler, Amateur"





Even though no rational person expected that the Greek situation would be resolved at today's talks in Riga, Latvia, apparently the algos were so caught up in spoofing each other to new record highs that futures, after surging once more overnight following the latest Google miss which sent the company and the Nasdaq soaring, actually dipped modestly into the red following headlines that the latest Greek talks have broken down after a "hostile" Troika "hammered" the Greek finmin, who was accused by European finmins of "being a time-waster, a gambler and an amateur."

 
Tyler Durden's picture

Forget "Grexit", "Grimbo" Has Arrived





The new term follows in the footsteps of the classic (but now tired) “Grexit” and its underrated predecessor “Graccident,” and refers to two of the four outcomes Citi imagines are possible in the unfolding Greek drama. The bad news: both scenarios involve capital controls, deposit flight, and defaults.

 
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