Dan pointed out to me a crucial inflection point on the European Bank index, SX7E, chart yesterday: As of yesterday, the banking index had closed almost right at the $150 level, which was support on …
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One major implication of the rate rise in the U.S. has been changing interest rate differentials. While emerging markets are seeing their rates rise in panicky fashion (accompanied by major currency declines), much of the …
Continue readingCitigroup has declined sharply in the past 2 days as the European contagion risk has resurfaced. With my trade at a double here, I’m going to take off half and leave the other half on. …
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Since Greece first said that its government books were essentially cooked more than 3 years ago, the European banking crisis has lurched back and forth between calm and inferno more times than I care to …
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Click here for a great post by Barry Ritholz at the The Big Picture blog, showing news reports from 1987, the day of the stock market crash. I will be doing a CAT earnings preview …
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Cross posted at Shelter Harbor Capital October 17, 2012 Moody’s long awaited ratings decision has finally arrived and, and, and…it is a non-downgrade. In its reasoning for the non-downgrade, Moody’s cited the Eurozone’s willingness to backstop …
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During earnings season, we’ve decided to run more earnings previews and less macro commentary. You can read my CMG Q3 earnings preview from this morning. Here is a quick summary of markets overnight: The Euro …
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Last night’s S&P downgrade of Spain had our Twitter feed buzzing with commentators talking about the return of the Euro-crisis, and the thought that the market would test Draghi’s commitment. But by the time Spanish …
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Bloomberg European stocks fell the most in two months and the euro weakened as Spain’s 10-year yields rose above 6 percent, spurring concern the debt crisis is worsening. Oil retreated for a third day, while …
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In the midst of unprecedented money printing, oil has fallen almost 10% in the past 2 weeks. It’s broken support levels from August, before the central bank party was officially announced. It highlights the interesting …
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