Market Analysis

MARKET OVERVIEW   2013-01-28 06:30 GMT Euro rallies on LTRO payback The European Central Bank announced on Friday that 278 Eurozone banks would repay 137.2 billion euro borrowed in December 2011 under the 3-year Long Term Repo Operation (LTRO). The first early paybacks would take place on January 30. This is a larger amount of

MARKET OVERVIEW   2013-01-25 06:10 GMT The Euro is here to stay; momentum is for higher Euro and lower Yen The emblematic investor George Soros, speaking at the World Economic Forum in Davo (Switzerland) told the audience that “the euro is now here to stay,” according to Bloomberg. Soros was one of the main detractor

MARKET OVERVIEW   2013-01-24 05:50 GMT BoE Minutes: MPC voted unanimously to keep the interest rate at 0.5% BoE Minutes from the MPC monetary policy meeting held on 9 and 10 January and released yesterdday reveal that the Committee voted unanimously in favor of keeping the interest rate at 0.5%. As far as the proposition

MARKET OVERVIEW   2013-01-23 03:18 GMT Eurogroup approves Robin Hood tax Eleven Eurozone countries (Germany, Italy, France, Spain, Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia) have been authorized to start working on a financial transactions tax (the so-called Robin Hood tax). Eurozone finance ministers have given the green light to the measure today, during

MARKET OVERVIEW   2013-01-22 06:25 GMT Jeroen Dijsselbloem, appointed new head of the Eurogroup Jeroen Dijsselbloem, Dutch Finance Minister, has been confirmed as the new president of the Eurogroup. As a peculiar note, German finance minister Mr. Schauble said Spain did not support the appointment of Dijsselbloem for head of the Eurogroup. The Eurogroup press

MARKET OVERVIEW   2013-01-21 06:39 GMT Merkel’s CDU loses Lower Saxony election; setback to her national campaign Angela Merkel’s ruling centre-right coalition government suffered yet another defeat on this Sunday’s local elections, in what the Financial Times defines as a controversial election in the state of Lower Saxony, according to final forecasts of German television.

MARKET OVERVIEW   2013-01-18 05:50 GMT Fiscal negotiations hope to avoid destabilizing a fragile US economy The remainder of 2012 and early 2013 has thus far been dominated by the “fiscal cliff” negotiations in Washington and the unfinished business associated with them. The repercussions of these political decisions will have far-reaching consequences on the economy,

MARKET OVERVIEW   2013-01-17 06:02 GMT Nowotny’s comments boost the euro The member of the ECB governing council Ewald Nowotny declared at the Euromoney press conference in Austria on Wednesday that the Eurozone is bound to contract in 2013 and that growth would return in 2014. Nowotny warned that economic activity would decrease this year,

MARKET OVERVIEW   2013-01-16 06:09 GMT Fitch warns it might cut US rating Much to the chagrin of investors, a fresh warning from the ratings agency Fitch was issues, stating that a debt ceiling failure would likely cause a ratings review. “…With no legal authorization for net debt issuance, the Treasury would be forced to