Europe

Three articles in this Wednesday and Thursday's Wall Street Journal highlighted that data point to a continued cyclical recovery despite a lot of doom and gloom from all sides. Let me post extracts from those articles I would like to…

I spoke at a Euromoney conference on inflation-linked products last year. My thesis at the time that deflation is the real problem and that inflation isn't going to be a concern - which has largely proved right - was out of step with most…

By Marc Chandler Today, ECB President Draghi essentially repeated his comments from last month. The key is that rates will remain at current levels or lower for an extended period and, although the economy is gradually recovering, growth…

I don't put a lot of stock into economic sentiment surveys but the time series of this particular survey, the European sentiment indicator caught my eye. It suggests a recovery in Europe is almost here.

I continue to anticipate a recovery in Europe in the second half of this year. The manufacturing PMI data that were released this morning suggest we could be in recovery before the end of the quarter. This makes me relatively upbeat about…

The contrast between the US and European auto markets is stark and captures the significant divergence of the two economies. June auto sales in Europe slumped from a year ago to their lowest level since 1996. In June, US auto sales reached…

The Eurozone's banks are continuing to deleverage, with total loan balances to euro area residents now at the lowest level in 5 years. What makes the situation even more troubling is that many Eurozone banks banks are repeating the Japanese…

Daily Comments for 15 Jul 2013

Remember how French President Hollande was saying a month ago that the euro crisis is over? Well, he was wrong. Today portugal's yields on 10-year paper vaulted to as high as 7.9% before settling back down again.

The ECB's forward guidance last week was begun with unanimous support including the German contingent. I think this is a very significant development in the European sovereign debt crisis because it moves the ECB that much closer to full…