“Yet too many investors mistakenly believe good old fashioned fundamentals still drive financial asset markets. Nothing could be further from the truth. Since the 2008 credit crisis, Central Bank flows have made a mockery of financial pricing theory.”
Category: euro
Euro Jumps On Draghi “Diminished Risks” Remark – Then Gives It All Back
DRAGHI SAYS DOWNSIDE RISKS TO ECONOMY HAVE FURTHER DIMINISHED
Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday
Ok, so as detailed earlier this morning, the first thing you should note about the
ECB Stays Put Following French Election
ECB LEAVES DEPOSIT FACILITY RATE UNCHANGED AT -0.4%
One Analyst Compared US Stocks To European Stocks – Here’s What He Found
So one of the things we (and others) noted going into the first round of
Today’s Word Is “Bigly”: Here Comes Trump’s Terrific, Tremendous, Tax Plan
Today’s word is “bigly.” No wait, “phenomenal.” No wait, “massive.” Yeah, that’s it. “Massive.” All
Trading Trump’s Tax Plan: Buy … Euros?
“Trump’s expected announcement on his long-awaited tax plan Wednesday does little to boost dollar-long appetite, as bets turn clearly euro bullish.”
The ECB Is Getting Really Good At Leaking Shit To Reuters
“Some or all the references to prevailing downside risks to the outlook, to the possibility of further rate cuts or to larger asset purchases may be taken out, the sources said.”
It’s Tuesday And This Market “Sees No Demons”
“With French political risk significantly reduced (even if there’s still a two-week second round campaign to negotiate), an improving global economy, steadier oil prices, and most of all, range-bound US yields and a lack of fear of rapid Fed tightening, investors see few demons and are off in search of yield.”
Trader: “Ok, So What Do We Do Now?”
“What we’ve had so far this week, I know it’s only Tuesday, has been a repricing without the benefit of meaningful price discovery along the way. Gaps during the Asia-Pacific opening are one thing. Ones followed by flat-lined price action suggest order books emptied followed by “So what do we do now?†And if there isn’t a quick follow-through in momentum, the next question will be “What have we done?â€
Warning: “Cliches May Be Boring,” But Nature Does “Abhor A Vacuum”
“Given the large number of gaps that have developed over the weekend because of the French election, traders will no doubt wonder how seriously to take the traditional warning.”
Hellz Yeah! European Stocks Explode, US Set To Rally As Market Celebrates Macron
The final tally was Macron 23.75%, Le Pen 21.53% and to say markets are relieved
Here’s How Wall Street’s Feeling About European Stocks On Monday Morning
So at least for Monday, the verdict is already in on European stocks and how
Risk-On! S&P Futs Jump, Treasurys Dumped With Yen As Markets Cheer Macron
As tipped by the knee-jerk reaction in EURUSD and EURJPY, the “market-friendly” outcome from the
Euro Soars 3% Against The Yen, Shorts Seen “Reloading”
You probably don’t want to read too much into it because Sunday evening Australasia FX moves aren’t exactly the
Euro Surges Out Of The Gate On French Election Result
Up, up and away…
Here’s How The French Polls Will Influence Central Banks This Week
“Following a “disruptive†election outcome, however, the market may expect a more accommodative tone from the ECB, and the Riksbank is likely to announce an extension of its QE programme that is due to end in June.”
Full Week Ahead Preview: Here’s “What To Watch” After France Votes
“We’ve heard comment running the gamut from “everyone is petrified†to “should be a happy time for risk.â€
“You’re Gonna Frighten People” – Bill Murray Does Frexit
“That’s because it’s the first time I’ve seen it, sir.”
Dear FX Traders: Do Not Start Fucking With Thomas Jordan Tomorrow
Earlier we noted that the ECB is prepared to step in with emergency liquidity in
Knife Edge: ECB Readies For Sunday Emergency, One Analyst Says “Keep Your Head”
“If there should be problems for specific French banks liquidity-wise, then the ECB has the … ELA, Emergency Liquidity Assistance, but we don’t expect of course any special movements.”
Friday Night Reading From Goldman: Here’s What Clients Are Talking About
After a one-week holiday hiatus, Goldman’s David Kostin and crew are back with their weekly
Here’s What’s Changed: “Markets Might Not Have To Wait Two Weeks To Sell Off”
It’s probably safe to say we’ve reached something that approximates “peak” French election analysis on Wall
Is Another “Whatever It Takes” Moment Just Around The Corner?
“If markets turn more negative on the possibility of deposit flights out of the French banking system or on Italian BTPs and banks, the currency can fall more in the absence of a decisive response from the ECB. But, if the ECB were to show a strong hand in the market, buying sovereign debt, this perception could change.”
Trader: “Be Wary Of People Who Say ‘That’s That'”
“But however sanguine your base case is for the outcome, the shock risks are real here and now, as well as from what any of the outcomes will imply.”
French Fries Protip: Don’t Worry About The Second Round, Worry About The First
“Melenchon now has a genuine chance of reaching the second round and, in purely markets terms, he would be as bad, if not worse, for French and European assets. Crucially, polls suggest that if Emmanuel Macron stumbles, the leftist would beat both Le Pen and Francois Fillon in a second-round runoff.”
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