Europe

Stephen Roach says the Fed is going all in in support of QE and I agree. But what else are they going to do? Look at Europe, for example. The ECB there has a hydra-headed problem with sovereigns and banks on the brink of insolvency and they…

Dollar is broadly weaker amid hopes that Greek debt negotiations are very close to agreement. Asian stocks posted new trend highs, MSCI Asia Pacific up 0.3%; Dow Jones tested highest level since 2008. EuroStoxx 600 reverses earlier losses…

I was on CNBC yesterday ahead of Ben Bernanke's speech explaining the FOMC's recent decision to add an explicit inflation target to its decision to extend its rate easing/permanent zero policy. My conclusion: the Obama mortgage plan and…

Dollar extended losses overnight and into the European session following the Fed’s dovish policy stance. Global stocks are broadly high off the back of Fed and Greek debt deal; EuroStoxx up 0.6%, banks up 0.7%. Economic data saw German…

The ECB's hand though could be forced if there is a credit event, a non-voluntary debt restructuring. Under such conditions, it would be more difficult to show some bond holders (ECB) preferential treatment over other holders of the same…

I am not at all optimistic about the euro zone in terms of policy makers fashioning a solution to the problem. The euro leaders have the diagnosis all wrong. They keep harping on government debt and deficits as if that's the problem. And…

Many observers will posit the euro's resilience today to the flash PMI reading for January where both the manufacturing and service sector readings were above expectations. The flash manufacturing diffusion index stood at 48.7 vs 47.3…

The Commodity Futures Trading Commission requires futures traders to identify whether they have an underlying business interest (commercials) or if they don't (non-commercials). Here are seven take-aways from the most recent report that…

n the short term, one of the only remaining stumbling block in the form of the ongoing default proceedings in Greece seem to be no match for the ongoing positive animal spirit of the equity market. Only a week ago, we got news that talks in…

Spain’s economic problems are very grave. The country is facing a decade long depression, and if enough young qualified people leave during this period then the country could enter a negative dynamic from which it will never properly…