Europe

there is much discussion of formally ending attempts to sterilize the SMP sovereign bond purchases conducted under ECB President Trichet. While refraining from sterilizing the SMP purchases would boost excess liquidity, we suspect it would…

Today Credit Suisse confirmed our earlier assessment that the ECB will be shifting toward a looser monetary stance in the near future via "suspension of the SMP sterilization".

While the emerging markets are getting a bit of a reprieve today, it bears noting that the move to so-called safe haven assets and currencies has begun. This suggests to me that George Magnus’ warning about this emerging markets crisis must…

The investment climate has proven extremely difficult for investors to navigate. Fed tapering and better world growth was to lead to higher interest rates. Yet interest rates for the developed world have fallen sharply in recent weeks.…

It may be something symbolic such as a small rate cut or possibly a more substantial move such as a new LTRO program, but the European Central Bank will be forced to loosen monetary policy in the near future.

Themes for today: US economic growth is poised to be decent in 2014 Europe will recover but not at the same pace as the US EM is really a China contagion story. I am concerned but not alarmed Watch high risk sectors like leveraged…

By Marc Chandler Political developments in Italy are happening faster than Prime Minister Letta can maneuver. The economy he is overseeing is the poster child of ECB President Draghi's assessment of a weak, fragile and uneven recovery in…

By Marc Chandler We argue that part of the euro's rise over the past several months reflects a reassessment of Spain's outlook. Many global investors had been under-weight Europe though most of H1 13, favoring the US and Japanese…

By Marc Chandler We argue that part of the euro's rise over the past several months reflects a reassessment of Spain's outlook. Many global investors had been under-weight Europe though most of H1 13, favoring the US and Japanese equities.…

Here are seven themes Marc Chandler sees dominating the investment Climate from Fed tapering, to ECB reaction to disinflation to Australian and Canadian Dollars remaining out of favour.