admin

“I haven’t found any nuggets of good news.” That’s from Investec’s Ian Gordon, who isn’t particularly enamored with RBS, which on Friday reported its eighth consecutive annual loss. The bank – which was bailed out to the tune of $64 billion by British taxpayers during the depths of the crisis – lost $2.77 billion last […]Read More

Fight night: Rubio, Cruz gang up on Trump in debate ploy (Reuters) Laid Bare in Shanghai: G-20 Tensions Over How to Spur Growth (BBG) China Flags Scope for Policy Stimulus, Tweaks Monetary Stance (BBG) Global Stocks Rise With Commodities as China Sees Room to Ease (BBG) Greece seeks to stem migrant flow as thousands trapped […]

As noted earlier, among the catalysts for the overnight leg higher in oil was a statement by Venezuelan Oil Minister Eulogio Del Pino who triggered the headline-scanning algos yesterday when he said, during a television broadcast on TeleSur, that oil producing countries were discussing a March meeting site (which apparently is sufficient to instill confidence […]

In our overnight wrap moments ago, when previewing today’s action, we said that “absent some dramatic reversal, such as Gartman covering his shorts and going unexpectedly long, expect the low-volume, upward momentum to continue into the G-20 weekend.” Well, as the bible says, ask and ye shall receive. In Gartman’s just released note, we learn […]Read More

With Wall Street consensus expecting the poor first Q4 GDP estimate of 0.7% to be revised even lower to 0.4%, and with Wall Street’s biggest former permabull Joe LaVorgna expecting a number as low as 0.1%, instead it received a surprising jolt to the upside when the BEA reported that instead of a decline, Q4 […]Read More

Amid the biggest weekly drop in GBPUSD (cable) in 7 years, a surge in UK credit risk, and a spike in cable volatility, Brexit risk has never been higher, but, as Citi notes, is only 30% priced in at current levels (while polls are more 50-50) even as The British Pound is plumbing 30-year lows […]

Today’s current inflation data dump from across the European nations appears to confirm forward inflation expectations trend (plumbing new record lows). With a considerably bigger than expected decline in prices , pushing Germany, Spain, and France back into deflation, pressure is mounting on Mr.Draghi. As one EU economist exclaimed, “the data send a clear message […]

Amid hype hope that China will suddenly change course and unleash all new fiscal stimulus – because just what the nation needs is more ghost cities, ghost bridges to nowhere, and ghost infrastructure – has sparked panic-buying in crude and copper this morning… As Bloomberg notes, industrial metals rallied as concerns about growth in top […]

With the S&P retesting its stubborn support level of 1,812 as recently as a week ago, many have continued to predict that failures to breach said level would result in violent bear market rallies, most recently JPM which however “should be faded”, as it noted three weeks ago, looked at earnings and said that “16x […]Read More

VIX mini ‘flash-crashed’ this morning to test its 200-day-moving-average to the lowest level since Dec 31st 2015. For now, it appears to have marked a low… VIX slammed… To its 200DMA… Will it hold? Average: Your rating: None Average: 5 (1 vote)

Punch FG confirms MTN’s N50bn payment, says negotiations continue:The Federal Government on Thursday confirmed that MTN Nigeria had made a payment of N50bn towards resolving its protracted dispute with the Nigeria Communications Commission over a fine of N1.04tn. Naira weakens to 330 as dollar demand surges:The naira weakened to 330 against the United States dollar […]Read More

Nigeria has become the largest economy in the first wave of countries in Sub-Saharan Africa to implement the recommendations of the Enhanced General Data Dissemination System (e-GDDS). This follows the visit of the International Monetary Fund (IMF)’s Statistics Department to Abuja from February 15-19, 2016 to assist the authorities with the implementation e-GDDS endorsed by […]