Tanks, artillery and infantry have crossed from Russia into an unbreached part of eastern Ukraine in recent days, attacking Ukrainian forces and causing panic and wholesale retreat not only in this small border town but a wide swath of territory, in what Ukrainian and Western military officials…
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Ukraine Says Russian Forces Lead Major New Offensive in East
The latest reading on consumer confidence, released Tuesday by the Conference Board, shows households are as upbeat about the economy as they were in 2007, as the last expansion was about to end. But that good cheer hasn’t translated to stronger spending. As has been the case throughout most of t…
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Consumers Have Confidence But Not Lots of Cash
Canada’s dollar gained the most in six months as its U.S. counterpart weakened and traders speculated that the acquisition of coffee-shop chain Tim Hortons Inc. will increase demand for the local currency. The loonie, as it is referred to because of the image of the waterfowl on the C$1 coin, was…
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Canadian Dollar Strengthens Amid M&A Activity Boost Bets
Yesterday, USD/CAD rose to the highest level since April. Today it’s down to the lowest level since July. …
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Canadian dollar on the warpath, rallies to highest since July
The European Central Bank hired BlackRock Inc. (BLK), the world’s biggest money manager, to advise on developing a program to buy asset-backed securities. BlackRock Solutions, a unit of the New York-based company, will provide advice on the design and implementation of a potential ABS-purchase pl…
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BlackRock Hired by ECB as ABS-Program Consultant
Government borrowing rates continue to tumble around the world. “Global bond yields have taken over the entire financial chatter this morning,” Brean Capital’s Peter Tchir said earlier today. According to Bloomberg, the yield on the German 10-year bund fell to a record low of 0.909%. Spain’s 1…
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Government Bond Yields Around The World Are Making New Lows Day In And Day Out
The German government is likely to take the line of least resistance over the latest European discord about its policies of budgetary rigor, allowing some extra fiscal leeway for the embattled French and Italian administrations, while at the same time maintaining a longer-term drive for reforms and…
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Germany must soften hard line as France falls apart
A day after the S&P 500’s first close above 2,000, veteran trader Art Cashin told CNBC on Wednesday the rally could soon lose steam, at least if history is any indicator. “Unfortunately, history gives us a kind of muted picture of it, that if you have high volume, you get follow-through very easi…
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History doesn’t favor this rally, says Art Cashin
Since the Swiss National Bank (SNB) imposed its peg in EUR/CHF, this cross has only traded below 1.20 a handful of times, and each time it has bounced off this important level of support. In the three years that the peg has been in place, the market hasn’t tested the SNB’s resolve with any gusto….
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EURCHF: will the SNB defend the 1.20 peg?
When the Plaza Hotel started selling its own version of Monopoly, the game board lacked a square to mark the 1985 currency accord named for the New York landmark. “Plaza-opoly,” introduced this year, recognizes the hotel’s role as a location for the movies Home Alone 2 and North By Northwest, ye…
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Central Banks Playing Own Version of FX Monopoly
U.S. crude stocks fell more than expected last week as refineries hiked output, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. Crude inventories fell by 2.1 million barrels in the last week, compared with analy…
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U.S. crude stocks fell as refineries hiked output – EIA
New ECB Action Next Week Unlikely, But Outcome Much Depends On August Inflation Data – ECB Sources
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New ECB Action Next Week Unlikely, Outcome Much Depends On August Inflation Data -ECB Sources
This incredible bull market, which pushed the S&P 500 above 2,000 earlier this week, is still alive and well. By the end of the year, the benchmark index may rise to around 2,150, about 8% higher. So says Sam Eisenstadt, who has more successfully called the stock market in recent years than almos…
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Get ready for S&P 500 at 2,150, top market timer says
German 10-year yields are down 4 bps to a record low 0.898%. Only 40 basis points to go to match Japanese 10s.
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German 10-year bund yield falls below 0.90%
Ah, the perils of European power politics. A day after France revealed its new government, the person who so eagerly stepped in after DSK’s infamous and choreographed fall from grace and the IMF presidency (not to mention his derailed French presidential ambitions, greenlighting Hollande as what …
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The DSKing Of Christine Lagarde: IMF Head Formally Charged In Fraud Probe
The dollar is trading a little below levels seen in late North American session yesterday, but that is after it initially extended its gains in Asia. The news stream is light, and unlike yesterday, there is no US economic data outside of the MBA’s mortgage application report. Despite the minor …
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Dollar Slips, while Bond Market Rally Continues
Fonterra Cooperative Group Ltd. (FCG), the world’s biggest dairy exporter, said it will pay NZ$615 million ($515 million) for a stake in a Chinese infant formula maker as it seeks to tap the nation’s lucrative baby milk market. The New Zealand company will buy a stake of as much as 20 percent in…
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Fonterra Deepens NZ-Chinese Links With Baby Formula Partnership
The UK Competition and Markets Authority (CMA) has become the latest regulator to investigate the global foreign exchange market following allegations of rigging, the Wall Street Journal reported on Tuesday, citing two people familiar with the matter. The antitrust watchdog recently shared infor…
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British competition watchdog probes foreign exchange market
The European Central Bank expects banks to flock to its new ultra-long loan offering in September, regardless of the weak economic outlook for the euro zone, primarily because they need to refinance an earlier round of such borrowing. Whether the new funds will actually reach companies and hou…
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ECB sees refinancing as big draw for banks seeking cheap money
On yet another strong day for the dollar, Wall Street posted record gains after a jump in the durable goods data and multi-year highs in consumer confidence suggested continued strength in the US economy. The S&P 500 has closed above 2000 for the first time as equity markets continue to push higher….
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Use this Sterling and Euro bounce as another chance to sell
