Euro central bank clears way for interest rate cut perhaps as early as November
Disappointment that the European Central Bank didn’t cut its 1.5% benchmark interest rate at today’s meeting has given way to the realization that the moves the bank did make today clear the decks for a rate cut perhaps as early as the bank’s November 3 meeting.
How high we can bounce will get tested tomorrow and Friday
The German DAX Index closed up 4.91% today and the French CAC 40 Index closed up 4.33% on “news” that European Union officials were working on a plan to boost bank capital. That’s worth 5%? Only when the technical indicators are flashing “over-sold.”
EuroZone finance ministers put off vote and talk of reopening July agreement on Greek rescue
EuroZone finance ministers meeting in Luxembourg are thinking about reopening the July deal that would have provided a second rescue package for Greece by requiring banks to take a bigger haircut than 21%. At this moment in the crisis that’s regress and not progress.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...No positive surprises in today’s data from China and the U.S.–so bad news from Europe sets the market tone
The economic data moving the market today comes from Germany and the EuroZone where news of the worst month-to-month retail sales drop since May 2009 and of a jump in inflation to a 3% annual rate has sent the euro down and the U.S. dollar up.
Germany approves expanded powers for euro debt facility–now on to the hard work
By a vote of 523 in favor and 85 opposed the Bundestag approved a measure to enable the European Financial Stability Facility to buy troubled government bonds and to offer precautionary credit lines to banks. It also increased Germany’s guarantees for the facility to 211 billion euros from 123 billion. Enough parliamentary members from Chancellor Angela Merkel’s collation voted in favor to give her a so-called “chancellor’s majority.”
Tomorrow’s reaction to the likely German vote in favor off the July 21 euro debt plan is make or break for the current rally
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Tough nut Finland votes Yes today on approving new euro bond buying powers; last tough nut Germany votes tomorrow
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Use this rally to reduce your exposure to Europe’s slow growth by selling stocks such as BorgWarner
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...European stocks soar as today’s good news story fills the gap left by a rebuttal to yesterday’s good news
This morning the European Investment Bank went to some lengths to rebut yesterday’s story that had the bank at the center of a new European guarantee mechanism but Eurogroup President Jean-Claude Juncker told Reuters that he has been informed that representatives of the International Monetary Fund, the European Central Bank, and the European Union will return to Athens on Wednesday or Thursday.
How fast China grows in 2012 and worries about that growth rate are what will count for stocks no matter what happens over the next few weeks in Europe and the United States
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