Markets

Unemployment In Europe Is A Disaster

The employment situation in Europe is a disaster. In his speech at Jackson Hole, European Central Bank president Mario Draghi presented seven charts on the state of employment in the Eurozone, but these two really bring home how awful the situation really is. The first chart shows the difference in […]
Unemployment In Europe Is A Disaster
Markets

ECB’s Draghi: Risks Remain To The Downside

ECB President Mario Draghi is giving a live press conferenceright now, reiterating that the central bank’s monetary stance is “geared toward” accommodation. The ECB will keep rates at their record lows for an extended period as the Euro area begins to recover, he said. Draghi said that confidence indicators confirmed […]
ECB’s Draghi: Risks Remain To The Downside
Markets

Today’s ECB Press Conference Will Be The Most Exciting We’ve Seen In A Long Time

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] The press conferences following the European Central Bank’s monthly monetary policy decisions have been pretty uneventful as of late.On every first or second Thursday of the month, ECB President Mario Draghi is happy to remind reporters at the ECB press conference just how in control of European […]
Today’s ECB Press Conference Will Be The Most Exciting We’ve Seen In A Long Time
Markets

7 Things Mario Draghi Can Do To Weaken The Euro

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_121004.en.html”] One of the hottest topics in global markets over the past month has been the euro’s surge in value against other currencies like the U.S. dollar and the Japanese yen.With the Federal Reserve and the Bank of Japan engaged in monetary easing and ECB President Mario Draghi […]
7 Things Mario Draghi Can Do To Weaken The Euro
Markets

Mario Draghi Can’t Stop The Bubble In Europe From Bursting

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] In July 2012, amid a backdrop of serious uncertainty over the future of the euro, ECB President Mario Draghi told the world that the central bank would “do whatever it takes” to save the currency.Prior to that point, the biggest open question was whether the ECB – […]
Mario Draghi Can’t Stop The Bubble In Europe From Bursting
Markets

Morgan Stanley Is ‘Getting Worried’ About Europe Again

[credit provider=”Bloomberg, Morgan Stanley Research”] One of the most interesting stories to emerge out of what has been a pretty wild January for global markets is the rapid rise in European rates.That rise has Morgan Stanley rates strategist Laurence Mutkin worried about a resurgence of the European sovereign debt crisis […]
Morgan Stanley Is ‘Getting Worried’ About Europe Again
Markets

The Euro Keeps Going Higher And Higher

The euro is surging against the U.S. dollar after ECB President Mario Draghi revealed at the ongoing ECB press conference that the decision to leave interest rates on hold was unanimous.
The Euro Keeps Going Higher And Higher
Markets

Today’s ECB Meeting Could Go ‘Right Down To The Wire’ — Here’s What You Need To Know

[credit provider=”Ralph Orlowski/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/mario-draghi-new-president-of-the-european-central-bank-news-photo/131244333″] The ECB announces its monthly interest rate decision at 7:45 AM ET. Following the announcement, ECB President Mario Draghi will hold a press conference and Q&A session at 8:30 AM.The big question going into this month’s meeting is whether the ECB will cut the benchmark […]
Today’s ECB Meeting Could Go ‘Right Down To The Wire’ — Here’s What You Need To Know
Markets

WSJ’s Jon Hilsenrath Uncovers The Secret Meetings Between World Central Bankers

The Wall Street Journal’s Federal Reserve reporter Jon Hilsenrath has a fascinating piece in today’s paper looking at the secret meetings between the leaders of the world’s largest central banks, including Federal Reserve Chairman Ben Bernanke, ECB President Mario Draghi, and Bank of England Governor Mervyn King, among others.The group […]
WSJ’s Jon Hilsenrath Uncovers The Secret Meetings Between World Central Bankers
Markets

An Updated List Of The Former Goldmanites That Rule The World

[credit provider=”AP/Riccardo De Luca”] Today the Bank of England said Mark Carney, the current Governor of the Bank of Canada, will take over the top spot.  Carney is also a Goldman Sachs alum.  He spent thirteen years (1988 to 2003) there working in the London, Tokyo, New York and Toronto offices.
An Updated List Of The Former Goldmanites That Rule The World
Markets

The ECB Announces Interest Rates Today—Here’s What You Need To Know

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] At 7:45 AM ET, the ECB announces its monthly policy decision regarding interest rates, followed by a press conference and Q&A session at 8:30.Citi economist Jürgen Michels notes that today’s meeting marks ECB chief Mario Draghi’s one-year anniversary at the helm of the central bank.
The ECB Announces Interest Rates Today—Here’s What You Need To Know
Markets

Mario Draghi Reveals A Ghost From His Past That Explains Why He Is Against Inflation

[credit provider=”World Economic Forum, Flickr” url=”http://www.flickr.com/photos/[email protected]/6770831559″] European Central Bank President Mario Draghi has been giving Germans a lot of facetime lately as he seeks to reassure them that the ECB’s new bond market intervention program, OMT, will not cause unwanted inflation.Last week, Draghi went before the German Bundestag to defend […]
Mario Draghi Reveals A Ghost From His Past That Explains Why He Is Against Inflation
Markets

In His Plot To Save Europe, Mario Draghi Made One Crucial Mistake

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] Reuters has a fascinating special report that takes a look inside the internal negotiations on the ECB Governing Council that led to the birth of Mario Draghi’s OMT bond-buying plan to save the euro, announced on September 6.The piece details the negotiations between the Italian ECB chief […]
In His Plot To Save Europe, Mario Draghi Made One Crucial Mistake
Markets

Mario Draghi Has Started A Quiet Revolution In Europe — And People Still Don’t Get What Happened

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] In a post from yesterday on the relationship between global financial markets and central bank activity, we wrote something upon which we’d like to expand:On the surface, the Fed’s QE, and the ECB version of bond buying (OMT) look the same, because they’re both bond buying. But […]
Mario Draghi Has Started A Quiet Revolution In Europe — And People Still Don’t Get What Happened
Markets

Mario Draghi’s Blindness Makes Him A Danger To Europe

The plan to “save the euro through unlimited bond-buying” that ECB president Mario Draghi presented last week shows one thing above all, and with blinding clarity to boot – why nobody picks up on it is beyond me: it shows that Draghi is the least suitable person to present any […]
Mario Draghi’s Blindness Makes Him A Danger To Europe
Markets

Draghi’s ‘Rescue’ Might Deepen Pain For The Recession-Hit South

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:10eurounterschrmario.png”] Super Mario, as European Central Bank president Mario Draghi has become known, cheered the world’s financial markets last week with his bold plan to buy unlimited quantities of crisis-hit governments’ bonds to shore up the euro.But as the action passes to Germany this week, investors will […]
Draghi’s ‘Rescue’ Might Deepen Pain For The Recession-Hit South
Markets

MORGAN STANLEY: The ECB’s New Plan Is ‘Quite Likely’ To Deepen Europe’s Recession

[credit provider=”taigasylvan on Flickr” url=”http://www.flickr.com/photos/[email protected]/4691472453/sizes/m/in/photostream/”] Markets soared after the ECB announced its new bond-buying plan yesterday. Many Wall Street strategists have expressed cautious optimism since ECB President Mario Draghi revealed the details of the rescue program designed to bring government borrowing costs down in Italy and Spain.Morgan Stanley rates strategist Laurence […]
MORGAN STANLEY: The ECB’s New Plan Is ‘Quite Likely’ To Deepen Europe’s Recession
Markets

Nomura’s Incredibly Bearish Take On Why The ECB Only Bought 3 Months At Most

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] Markets are loving the new plan ECB president Mario Draghi laid out to rescue the eurozone yesterday.Nomura economists – not so much. A team led by Jacques Cailloux is out with one of the most bearish notes we’ve seen on the ECB and its plan since it was […]
Nomura’s Incredibly Bearish Take On Why The ECB Only Bought 3 Months At Most
Markets

Mario Draghi Probably Shouldn’t Read The German Papers This Morning

[credit provider=”AP/Riccardo De Luca”] MARIO DRAGHI, president of the European Central Bank, should probably not open the German papers this morning. Nearly all of them are highly critical of the ECB’s plan, unveiled on September 6th, to start a process of buying the government bonds of peripheral euro-zone states, as […]
Mario Draghi Probably Shouldn’t Read The German Papers This Morning
Markets

The Power Of Mario Draghi In One Big Chart

Reuters chart guru Scotty Barber charts the performance of major asset classes since that Mario Draghi speech in late July, when he promised to do “whatever it takes” to save the Eurozone.
The Power Of Mario Draghi In One Big Chart
Markets

CITI: How The ECB’s New Rescue Plan Could Go All Wrong

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] Citi is out with its reaction to the bond-buying plan ECB President Mario Draghi revealed at the central bank’s big meeting earlier today.Rates strategist Jamie Searle asks some pointed questions about the new program (aka the OMT) – namely, whether it’s robust enough to avoid the same […]
CITI: How The ECB’s New Rescue Plan Could Go All Wrong
Markets

JP MORGAN: The ECB’s New Plan Will Change The Course Of The Euro Crisis

[credit provider=”ECB” url=”http://www.ecb.int/press/tvservices/webcast/html/webcast_120906.en.html”] Mario Draghi and the ECB have been critiqued all day long since the central bank president this morning unveiled the details to its new bond-buying program aimed at turning around the euro crisis.JPMorgan economist Malcolm Barr thinks it’s a game-changer, writing in a note to clients today […]
JP MORGAN: The ECB’s New Plan Will Change The Course Of The Euro Crisis
Markets

Doug Kass Isn’t Impressed. He Plans On Shorting Stocks

[credit provider=”CNBC” url=”http://video.cnbc.com/gallery/?video=3000065449″] “I plan to sell/short this news for several basic reasons,” writes Doug Kass, President of Seabreeze Partners.In a new note published on The Street, Kass writes that he’s not very impressed by Mario Draghi’s announcement that the ECB would begin unlimited bond-buying program.
Doug Kass Isn’t Impressed.  He Plans On Shorting Stocks
Markets

Mario Draghi Is Days Away From Creating The Biggest Two-Tiered Market In History

[credit provider=”Ralph Orlowski/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/mario-draghi-new-president-of-the-european-central-bank-news-photo/131244333″] Over a number of years I had professional involvement with two-tiered markets. I’m not sure I can remember them all. Spanish A and B Pesetas come to mind. There was a two-tiered French Franc for a bit. I think Belgium had two markets as well. […]
Mario Draghi Is Days Away From Creating The Biggest Two-Tiered Market In History
Markets

EU Lawmakers Blasted For ‘Breach Of Confidence’ Over Mario Draghi Briefing

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Rat_noir.jpg”] European Union lawmakers have been blasted for a “breach of confidence” after disclosing details from a confidential briefing with ECB president Mario Draghi.On Monday, Mr Draghi suggested to a closed hearing at the European Parliament that the ECB could buy government bonds maturing in three years […]
EU Lawmakers Blasted For ‘Breach Of Confidence’ Over Mario Draghi Briefing
Markets

Mario Draghi Makes His Sales Pitch To Germany

[credit provider=”European Commission” url=”http://ec.europa.eu/avservices/photo/photoDetails.cfm?sitelang=en&ref=P-018816/00-08#0″] Mario Draghi has published the following piece titled: The future of the euro: stability through change in German newspaper Die Ziet.It’s not the most technical discussion of what will happen next in Europe, but it does offer a very good big picture take on the direction […]
Mario Draghi Makes His Sales Pitch To Germany
Markets

ART CASHIN: Mario Draghi Had No Choice But To Cancel His Jackson Hole Appearance

[credit provider=”CNBC” url=”http://video.cnbc.com/gallery/?video=3000093657″] Earlier this morning, European Central Bank president Mario Draghi unexpectedly announced that he wouldn’t be heading to the Kansas City Fed’s event at Jackson Hole, Wyoming.But Art Cashin isn’t too surprised.  In fact, Draghi didn’t have much choice.
ART CASHIN: Mario Draghi Had No Choice But To Cancel His Jackson Hole Appearance
Markets

REPORT: ECB Is Considering A Move That Forcefully Prevent Borrowing Costs From Getting Too High

[credit provider=”AP Images” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=draghi&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1343871142&pagez=60&cfasstyle=AND&rids=b352ba1f7340497f9b076c821ae1401b&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] BERLIN (Reuters) – The European Central Bank is considering setting interest rate thresholds for any purchases of struggling euro zone country’s bonds so that it would buy such bonds if their interest rates exceeded a certain premium over German bonds, a German magazine reported.Germany’s weekly Spiegel […]
REPORT: ECB Is Considering A Move That Forcefully Prevent Borrowing Costs From Getting Too High
News

Here’s The Scary Scenario We’re Sleeping Walking Into

[credit provider=”The Road” url=”http://www.imdb.com/title/tt0898367/”] A great orgasm shuddered through the money world last week when Mario Draghi paused between scamorza con arugula tidbits to remark that the European Central Bank (ECB) would stop at nothing to keep the financial blood of Europe circulating. Of course you wonder how many pony glasses of […]
Here’s The Scary Scenario We’re Sleeping Walking Into
Markets

Back In December, Mario Draghi Gave A Speech That Explained Everything That’s Happening In Europe

[credit provider=”World Economic Forum, Flickr” url=”http://www.flickr.com/photos/[email protected]/6770831559″] It’s been a wild two weeks in Europe.A couple weeks ago, borrowing costs in Spain and Italy were soaring, and Mario Draghi was forced to make a crucial statement, that surging borrowing costs were impeding monetary policy, and thus it was the prerogative of […]
Back In December, Mario Draghi Gave A Speech That Explained Everything That’s Happening In Europe
Markets

Draghi Just Staged A Dramatic Powerplay That Could Change Everything In Europe

[credit provider=”DrivingtheNortheast on Flickr” url=”http://www.flickr.com/photos/drivingthenortheast/7177307591/”] A lack of tangible action from European Central Bank President Mario Draghi yesterday sent markets hurtling downward.Today, however, they’ve rebounded after some analysts realised there was an upside to the remarks.
Draghi Just Staged A Dramatic Powerplay That Could Change Everything In Europe
Markets

Mario Draghi’s Diabolical Spiral

Mario Draghi did a press conference today. “Everyone” was eagerly awaiting it, and nobody seemed to understand it makes no difference what he says. At least, that is, from the point of view of saving the euro, or Spain, or Italy, or the eurozone. Draghi let slip a dumb remark […]
Mario Draghi’s Diabolical Spiral
Markets

SocGen’s Client Survey Shows That 69% Expect The ECB To Disappoint

[credit provider=”AP Images” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=draghi&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1343871142&pagez=60&cfasstyle=AND&rids=b352ba1f7340497f9b076c821ae1401b&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] After the Fed failed to act today, all eyes are on the European Central Bank which will release its monetary policy decision tomorrow.Markets will be watching to see if ECB president Mario Draghi will stand by his promise to “do whatever it takes to preserve the […]
SocGen’s Client Survey Shows That 69% Expect The ECB To Disappoint
Markets

All Of The Tools Available To Mario Draghi As He Attempts To Save The Euro

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Invalides_cannons.jpg”] After the Fed elected to stand pat for the moment, the market is has switched its focus to Mario Draghi.His situation is someone different from Ben Bernanke’s, as the European Central Bank has a narrower mandate and more complicated system of government to deal with.
All Of The Tools Available To Mario Draghi As He Attempts To Save The Euro
Markets

Bundesbank President Weidmann Tears Apart Critics In A New Interview

[credit provider=”(Photo by Sean Gallup/Getty Images) “] We covered the impending showdown between the German central bank president and Mario Draghi, head of the ECB, over controversial measures to support ailing eurozone countries by buying their sovereign bonds.The German Bundesbank just posted an interview from an internal staff magazine with […]
Bundesbank President Weidmann Tears Apart Critics In A New Interview
Markets

The Rest Of The ECB Seems To Have No Idea What Draghi Is Talking About

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Draghi,_Mario_%28IMF_2009%29.jpg”] Comments from the European Central Bank’s president Mario Draghi have increased the expectation from the market that the ECB will do something huge in the coming Governing Council meeting on Thursday.  The market has probably priced in a resumption Securities Market Programme (SMP), and some are […]
The Rest Of The ECB Seems To Have No Idea What Draghi Is Talking About
Markets

The ECB Is On A Collision Course With The Bundesbank

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/File:WW1_TitlePicture_For_Wikipedia_Article.jpg”] The coordinated confidence-inspiring words from the Eurozone’s fearless leaders about doing whatever it would take to save the euro wasn’t about Greece anymore.Its life support may get unplugged in September. Politicians have apparently given up. The tab isn’t that dramatic: default and return to the drachma would […]
The ECB Is On A Collision Course With The Bundesbank