European Central Bank decides to keep its (very limited) powder dry
No cut in interest rates. No expansion or extension of asset purchases. No nothing from the governors of the European Central Bank at today’s meeting
Yesterday the European Central Bank’s moves disappointed the markets; today they’re leading a market rally
Yesterday, financial markets fell as traders and investors decided that the policy changes–another 10 basis point cut to deposit rates and an increase of 10 billion euros a month in asset purchases–weren’t enough, especially in the face of lower forecasts for inflation and economic growth from the central bank. Today, financial markets seem to have decided that they’re reason to rally.
No magic in this morning’s news from the European Central Bank
The longer the financial markets thought about the actions announced by the European Central Bank today, the less impressed markets were. The STOXX 600 Europe Index had climbed as much as 2.5% during the day, but after peaking around 1 p.m., the index finished down 1.7% for the day.
Tomorrow is European Central Bank day–market is skeptical that Draghi will deliver more than the minimum
After being disappointed in December when the European Central Bank delivered only the minim expected, financial markets are going into tomorrow, March 10, positioned for another disappointment from Mario Draghi and the EuroZone central bank.
Happy talk from central banks rallies shares
In anticipation of a weaker yen and central bank intervention, bad news on the Japanese economy produced a huge rally in Tokyo with the Nikkei 225 index soaring 7.16% on Monday.
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...3 strong dollar, weak euro (and Brazilian real) stock picks
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...
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...Euro bounces as traders sell the dollar on Draghi’s disappointing news
Traders sold the U.S. dollar, and U.S. and EuroZone stocks on the new from the European Central Bank of a smaller than hoped for package to stimulate growth and inflation in the EuroZone and to weaken the euro
Does China’s entry into the IMF currency club mean more volatility for the yuan?
I think that in for the next six to nine months volatility will increase for China’s currency and that the possibility of another yuan devaluation needs to be taken seriously as a market risk
Will the euro bounce if Mario Draghi announces more of the same on Thursday?
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...Saturday Night Quarterback says, For the week ahead expect…
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