In recent weeks, I’ve expressed very pointed concerns about market risk, emphasizing that the most negative market return/risk profiles we identify are associated with a severely overvalued, overbought, overbullish syndrome of conditions that is then followed by a clear deterioration in market…
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Fast, Furious and Prone to Failure
Federal Reserve officials approach the Oct. 28-29 Federal Open Market Committee meeting amid unsettled financial markets, weak inflation around the globe, and slowing economies outside the U.S. Most officials favor holding off on interest rate increases until next year and ending the central bank’s…
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Fedspeak Cheatsheet: What Are Fed Policy Makers Saying?
The European Central Bank’s plan to buy private sector assets may fall short of its goal and pressure is likely to build for bolder action early next year, with government bond purchases an option, ECB sources said. The euro zone’s central bank started buying covered bonds last week and plans to …
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ECB stimulus may lack desired scale, QE an option – sources
The European Central Bank said it settled 1.704 billion euros ($2.2 billion) of covered-bond purchases last week as it started its latest effort to revive the euro-area economy. The Frankfurt-based institution began purchases on Oct. 20, returning to the market for a third time in six years as pa…
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ECB Starts Buying Spree With 1.7 Billion Euros of Covered Bonds
BREAKING
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ECB: Settled 1.704 Bln Euros In Purchases Under New Covered Bond Programme As Of Oct. 24
Confrontation is in the air as Europe’s policy-making preoccupations fluctuate between banking soundness and budget deficits. The results of Sunday’s banking assessments by the European Banking Authority and the European Central Bank provide both good and bad news about the health of European banks….
Contracts to purchase previously owned homes rose less than forecast in September, showing housing will take time to gain momentum. The pending home sales index increased 0.3 percent after dropping 1 percent in August, the National Association of Realtors said today in Washington. The median proj…
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Pending Sales of U.S. Existing Homes Rise Less Than Projected
Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, inched 0.3 percent to 105.0 in Septemb…
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Pending Home Sales Hold Steady in September
At 57.3 in October, down from 58.9 in September the Markit Flash U.S. Services PMI™ Business Activity Index signalled the slowest rate of output growth for six months. The index–which is based on approximately 85% of usual monthly replies–remained well above the 50.0 mark that separates expansion…
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US Service sector activity growth eases to six-month low in October
In its downed trajectory, the EUR/GBP has retraced somewhat deeper than I had envisaged in my previous report. Although expectations about the first Bank of England rate hike have been pushed out a little bit, the UK central bank is still expected to tighten its policy well before the ECB does….
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EUR/GBP falls as stress test results overshadowed by German business survey
Investors were spared immediate pain on Sunday after the European Central Bank’s landmark banking health check did not force massive capital hikes amongst the euro zone’s top lenders. But the sector’s long-term attractiveness has been damaged by revelations of extra non-performing loans and hidde…
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Europe’s bank test celebrations mask mounting challenges
French president Francois Hollande said Friday that a E1 billion rebate it is set to earn due to recently changed calculations in gross national income could be used as a bargaining tool in the country’s effort to convince authorities in Brussels it complies with the region’s fiscal rules. Speaki…
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Hollande: New EU Budget Calculation Can Improve French Budget
Sweden’s banks topped the European Banking Authority’s examination, a result the nation’s regulator says is largely due to its commitment to some of the world’s strictest capital requirements. In an adverse scenario, Sweden’s four biggest banks would have an average capital ratio of 14.6 percent…
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Toughest Bank Rules Underpin Sweden Stress Test Supremacy
Retail sales volumes continued to grow in the year to October, with another strong rise expected in the month ahead, according to the CBI. The CBI’s latest monthly Distributive Trades Survey of 124 firms showed a third successive month of firmly above-average sales growth. But sales growth was mi…
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UK High Street sales growth remains robust – CBI
Imitation, it is often supposed, is the finest form of flattery… This adage is dependent on who is doing the imitating, however. LeapRate discovered this week that retail FX giant FXCM (NYSE:FXCM) has been the subject of an attempt by a bogus company to extort clients by creating a similar name t…
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FXCM clone site fraudulently used by bogus entity to dupe customers
Investors will be handed a clue today in to just how aggressive Mario Draghi is willing to be. At 3:30 p.m. in Frankfurt, the European Central Bank will reveal much it spent on covered bonds last week after returning to that market for a third time as part of a renewed bid to stave off deflation….
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Draghi Sets Stimulus Pace as ECB Reveals Covered-Bond Purchases
The Ifo Business Climate Index for industry and trade in Germany fell in October to 103.2 points from 104.7 points in the previous month. Assessments of the current business situation were once again less favourable than last month. Expectations with regard to the six-month business outlook…
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Ifo Business Climate Index Continues to Fall
German business confidence dropped for a sixth month as the specter of a recession has come to haunt Europe’s largest economy. The Ifo institute’s business climate index, based on a survey of 7,000 executives, dropped to 103.2 in October from 104.7 in September. Economists predicted a decline to …
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German Business Confidence Drops for Sixth Month
The annual growth rate of the broad mone tary aggregate M3 increased to 2.5% in September 2014, from 2.1% in August 2014 . 1 The three – month average of the annual growth rates of M3 in the period from July 2014 to September 2014 increased to 2.1%, from 1.8% in the period from J…
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Monetary Developments in the Euro Area : September 2014
Global growth is sputtering again. Most Americans remain pessimistic five years after the end of the Great Recession. And the deadly Ebola virus is adding fresh uncertainty. Yet the U.S. economy continues to chug along and it could soon register its longest and strongest period of expansion in ni…
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US economy on track for best growth in nine years
