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The amount of money parked with the ECB has fallen dramatically over the past year, and the banks’ reaction to negative deposit rate is still to be seen. So, the impact of setting a negative deposit rate is not necessarily going to be euro negative

With a 9 standard deviation range between the highest and lowest excuse for a forecast from the 81 "qualified" economists on Bloomberg's survey, there is plenty of room for noise to dominate signal with tomorrow's payrolls data. Goldman forecasts a

In case you were wondering why US equities are charging higer yet again today on mediocre news (while bonds shrug), we offer another potential reason... Russian stocks are now in bull market territory off the mid-March "sanctions" lows... not exactly

Taken at face value yesterday’s action by the ECB amounted to a monetary farce. How could any adult believe that a benchmark rate cut of 10 bps from an already microscopic level of 25 bps would move the needle in an economic zone that is already

In sharp contrast to last week, the punditry has less to chew on this coming week. This leaves the media agenda wide open. Discussion will range freely on the potential for the economy as well as the markets. Expect to see stories about China

E-commerce company eBay Inc said hackers stole email addresses, birthdays and other identity information between late February and early March in a data breach that may have affected a "large number" of accounts. In the latest major cyber attack at a

The economy gained 288,000 jobs in April, the most in 2 ½ years, and the unemployment rate plunged to 6.3 percent from 6.7 percent. But the drop occurred because fewer people looked for work. The government doesn't count people as unemployed unless

If there was one chart that shows best what is happening with the bifurcated US housing market, it is this NAR breakdown of sales by pricing bucket. It shows beyond a doubt that courtesy of the Fed's policies there is not one but two housing markets

William Dudley, the president of the New York Federal Reserve, spoke yesterday about the state of the New York, New Jersey, and U.S. economies. The quote you need to know: "There have been significant and long-lasting changes to the nature of work,"

It's not a big surprise to see Capital Markets trying to consolidate as we head into a long weekend either side of the Atlantic. Caution ahead of Euro election results is keeping the European markets, particularly equities, in a holding pattern

We have discussed the "costs" associated with US sanctions on Russia previously and while economic growth expectations have slowed - just as they have slowed for the entire world - despite the common knowledge meme being propogandzied across the

We are confused: on one hand the Fed is injecting hundreds of billions of liquidity into the market, boosting the S&P to all time highs and making the rich richer (Piketty taking Excel lessons from Rogoff notwithstanding) while the economy remains

Germany's national security council declined two-thirds of applications for arms export licenses at its most recent sitting three weeks ago, German news weekly Spiegel said on Saturday. The economy ministry had prevented a license application to

“It is said that only a fool learns from his own mistakes, a wise man from the mistakes of others.” Otto von Bismarck. I am sure you heard the quote above many times and that you understand its meaning, but I want to focus a bit on the first part “…a

First it was JPM, then it was, surprisingly, none other than NY Fed chief Bill Dudley - the head of the trading desk that proudly boasts trader extraordinaire Kevin Henry, then Citi, and now joining the chorus of banks and Fed presidents blaming all

Weather 1 - Quantitative Easing 0. Spot on the chart below just how high the culmination of over $1 trillion in QE3 proceeds "pushed" the US economy. Joking aside, while the realization that nobody can fight the Fed except a cold weather front, is

It appears someone finally read what none other than Mario Draghi said about the prospect of Eurozone QE back in December 2011. To wit: Question: Why is it so impossible for the ECB to act like the other central banks, like the Federal Reserve System

Having questioned whether Tim Geithner leaked every Fed announcement to the banks during his tenure (but did not mention it in his memoirs) and shown that traders acted on information at faster than the speed of light (and thus were indeed aware of

Does the economy move in predictable waves, cycles or patterns? There are many economists that believe that it does, and if their projections are correct, the rest of this decade is going to be pure hell for the United States. Many mainstream

Barclays just can't catch a break these days: after creating the biggest "bad bank" 5 years into the laughably called "recovery", the latest batch of terrible earnings and the announcement of some 19,000 pink slips to be handed out shortly as the