Draghi refuses to call end to ECB crisis measures Central bank extends QE until September 2018 but halves pace


(FT) – The European Central Bank confounded monetary hawks by extending its economic stimulus programme until at least September next year, pushing down the euro as investors digested Mario Draghi’s refusal to call the end to emergency crisis-era measures. Although the ECB announced its stimulative bond purchases will be halved to €30bn a month, the…

UPDATE (SPAIN): Catalonia’s leaders said on Saturday they would not accept direct rule imposed on the region by the Spanish government


  Reuters – Catalonia’s leaders said on Saturday they would not accept direct rule imposed on the region by the Spanish government, as a political crisis that has rattled the economy and raised fears of prolonged unrest showed no signs of easing Spanish Prime Minister Mariano Rajoy announced earlier on Saturday he would invoke special…

GREECE: Bad Loans, Creditors Fight and Banks need for more capital


Bloomberg reprint: Greek Banks Face ‘Gangs’ in Bad-Loans Battle With Defaulters BySotiris Nikas , Christos Ziotis , and Stefania Spezzati   October 19, 2017, 2:05 PM GMT+11 October 19, 2017, 10:44 PM GMT+11 Lenders said to boost sales of NPEs standing at half of total Investors fear Greek banks will need to raise more capital When Eurobank…

INTL UPDATE: Asia 30-3-2016


  ASIAN MARKET UPDATE ……. Wednesday 30-3-2016  Asia Pacific region stock markets finished mostly higher Wednesday, on the back of U.S. Federal Reserve Yellens signal for a slow pace on raising interest rates. “[Ms. Yellen] and the Fed have finally realized that the only way they can safely start to normalize interest-rate policy in the U.S. is if they…

INTL UPDATE: Europe 30-3-2016


  30-3-2016——EUROPEAN MARKETS Stocks and commodities rallied while the USD dollar extended losses Wednesday as Federal Reserve Chairwoman Janet Yellens cautious stance on raising U.S. interest rates rallied risky assets around the world. Futures pointed to a 0.5% opening gain for the S&P 500. The Stoxx Europe 600 was up 1.4% halfway through trading in London, following…

INTL UPDATE: U.S. 30-3-2016


Update: 30-3-2016 ADP Employment Report  – U.S. private sector added a net 200,000 jobs this month, matching expectations, showing resilience for employment.   The labor market remains healthy.  But selling is muted in the bond market after Yellen said Wednesday the central bank would be cautious in tightening policy given the uncertain global growth outlook. That…

INTL UPDATE: Europe


Global stocks extended losses Thursday ahead of the Easter holiday weekend, as a stronger US dollar and weaker commodities slow down the recent global rally. European equities slipped for a fourth straight session on Thursday, with weaker commodities prices and hawkish comments from another Fed official putting pressure on the broader stock market. St. Louis…