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After a long weekend, Wall Street is ready to dive back into earnings season. With the ECB taking its time to wrap up bond-buying and start raising rates, it would take something quite substantial to rock the boat. It would appear gold isn’t going to extend its winning run ...
Despite signs that the Chinese economy is weakening amid the Covid lockdowns, port congestion, and a surge in energy and metals prices, Beijing failed to deliver the expected cut in the benchmark one-year Medium-Term Lending Facility. The ECB affirmed its intention to end its bond pur...
The dollar is mostly heavier against the major currencies, with the Swedish krona and New Zealand dollar the strongest. In any event, the takeaway from the ECB meeting will be about the forward guidance on its asset purchases. As anticipated, the Bank of Canada will stop recycling...
Currently yielding 2.78%, US 10-year US Treasury notes pay out far more than the 10-year bonds of any of the major European nations. The war in Ukraine is friendly for the dollar because as the world’s reserve currency, it is considered the safest place to be. We’ll ...
The issue of the dollar is part of the debate over global capital flows, but capital flows are just the obverse of trade and current account flows. In recent weeks, some analysts have argued that, as a consequence of the sanctions imposed on Russia, the world is likely to see a shift ...
US and European natural gas prices are firmer. The accelerating price pressures require an adjustment in ECB policy, but no move is expected. The Bank of Canada will likely signal the beginning of the unwinding of its balance sheet. For further details see: Now, It Is Ca...
China's National Press and Publication Administration published a list of 45 new titles on its website late yesterday. Germany's ZEW investor survey was poor, but not quite as bad as the median guesstimates in Bloomberg's survey. The signal emanating from Fed officials is monetary...
The Fed has decided to go from super-easy money to quickly tightening monetary policy, which is causing a spike in Treasury yields that looks dangerous to me. Treasury yields have nearly doubled since the Omicron panic in late November, touching 2.73% on Friday. They are flirting with...
Macron's victory in the first round of the French presidential contest lifted the euro, which is resilient to the broader greenback gains scored on the back of the continued rise in yields. The euro initially gapped higher in Asia as the French election news spurred a quick short-cove...
In a replay of the 2017 presidential election, French voters have advanced incumbent Emmanuel Macron and candidate Marine Le Pen to the second round of runoff election. The two-round system has been in place since a 1962 referendum, and while it is costly and can weigh on logistics, many cite...
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ProShare Advisors and ProShare Capital Management announced today plans to liquidate and close six ProShares Trust ETFs and two ProShares Trust II ETFs based on an ongoing review of ProShares product offerings. Specifically, the following ETFs will be liquidated and closed: The last...