Stuff I'm Watching

Europe - things that make you go... really?

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ECB's Lending operations fail to ignite bank lending

FT -  https://www.ft.com/content/eff345f4-4bf1-11e9-8b7f-d49067e0f50d 


US Moves to Impose Tariffs on $11 bln of EU Goods

WSJ -  https://www.wsj.com/articles/u-s-to-impose-tariffs-on-11-billion-of-eu-goods-11554770493 


 Italy's foreign debt investors risk rekindling volatility

FT -  https://www.ft.com/content/db26b942-5788-11e9-91f9-b6515a54c5b1 


Italy's public debt set to rise again amid lack of growth

 https://www.ft.com/content/ee85c9ea-5492-11e9-91f9-b6515a54c5b1


World's biggest inland port puts German rustbelt on China's map

FT -   https://www.ft.com/content/58909b2e-56c0-11e9-91f9-b6515a54c5b1 


We have to talk about Kevin....

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Theresa May pleads with Angela Merkel to be given extra time

Thunderer -  https://www.thetimes.co.uk/edition/news/theresa-may-pleads-with-angela-merkel-to-be-given-extra-time-rrhtxhpvm 


Macron ponders his de Gaulle moment with Brexit

FT -  https://www.ft.com/content/23d71a04-5916-11e9-9dde-7aedca0a081a 


German Banking....

German Banking? 
So much for Banking Union, Too-Big-to-Fail and National Champions...

UniCredit waits in wings to bid for Germany's Commerzbank

FT -  https://www.ft.com/content/b4486432-5653-11e9-91f9-b6515a54c5b1


Stuff I'm Reading

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What's in the News:


American Dream costs $300,000 a year

FT -  https://www.thetimes.co.uk/edition/world/american-dream-costs-300-000-a-year-wsr22nw6t 


Saudi Aramco's bond sale "vastly overpriced" Loomis Sayles' Fuss

FT - https://www.ft.com/content/e30495ca-5af4-11e9-939a-341f5ada9d40 


China's Multi-Billion Dollar Greece Investment Plunged in "Unprecedented Limbo" By Local Bureaucrats

ZH -  https://www.zerohedge.com/news/2019-04-08/chinas-multi-billion-dollar-greece-investment-stymied-archaeological-authority 


GE Shares Slump as Top Analyst Downgrades to Sell Again

WSJ -  https://www.wsj.com/articles/ge-shares-slump-as-top-analyst-downgrades-to-sell-again-11554735852 


JPM, Morgan Stanley And Now Goldman All Warn "Its Time To Hedge" The FOMO Eurphoria

ZH -  https://www.zerohedge.com/news/2019-04-08/jpmorgan-morgan-stanley-and-now-goldman-all-warn-its-time-hedge-fomo-euphoria 


Expected Earnings Pullback Sets Up Big Test For Bull Market

WSJ -  https://www.wsj.com/articles/corporate-profit-squeeze-looms-threatening-stocks-climb-11554634801 


Bank Stocks Are Cheap. Is This a Tipping Point?: Taking Stock

BBerg -  https://www.bloomberg.com/news/articles/2019-04-08/the-cheapest-sector-may-be-nearing-a-tipping-point-taking-stock-ju7yvy5m?srnd=fixed-income 


Top Bond Strategist At World's Largest Asset Manager Says ECB Should Buy Stocks Next:

ZH -  https://www.zerohedge.com/news/2019-04-07/top-bond-strategist-worlds-largest-asset-manager-says-ecb-should-buy-stocks-next 


What did the Federal Reserve see that investors did not?

FT -  https://www.ft.com/content/90457202-56bf-11e9-91f9-b6515a54c5b1 


China's Bond market is opening - but are the rating agencies ready?

(Questions over the integrity of credit ratings dog the $12.5 trillion market)

FT -  https://www.ft.com/content/e6ea3c7c-55f8-11e9-91f9-b6515a54c5b1 


No End in Sight to Credit Market Roller Coaster

BBerg - https://www.bloomberg.com/news/articles/2019-04-02/the-dysfunctional-credit-market-is-now-a-slave-to-liquidity


The Coming Credit Meldown Will Be As Bad As The Great Depression And The Financial Crisis: Deutsche

ZH https://www.zerohedge.com/news/2019-04-02/coming-credit-meltdown-will-be-bad-great-depression-and-financial-crisis-deutsche



European Banks Face a Triple Whammy

Negative Rates, A slowing economy and money laundering weigh on unloved sector

WSJ -  https://www.wsj.com/articles/european-banks-face-a-triple-whammy-11553602187 






   

 

   

Bill's recent article for Aviation Life - Sailing and Flying

https://secure.viewer.zmags.com/publication/7abffbe9#/7abffbe9/24


   




Blain Speaks....

25 March 2019 

Global Market Update


Explaining Brexit - The Treaty of Westphalia

This best explains the complexity of European negotiations...