—- GermancourtparkstankonECBlawn, killsOMTbondrescue // AmbroseEvans–Pritchard – Financeandbusinesscomments Doubtful whether ECB’s back-stop scheme for bonds can be implemented if Europe’s debt crisis blows up again —- Shared via myfeedlyreader Seguir leyendo German court parks tank on ECB lawn, kills OMT bond rescue

—- EuropeIsFixed: SpanishYieldsTumbleTo 8 YearLows (BelowUSTreasuries) // ZeroHedge Isitanywonder Mario Draghididn’tlift a quantitative-easingfingerthisweek? Despite record unemployment, record (and disastrous youth unemployment), record suicide rates, record non-performing loans, and an inextricably-linked banking system facing $3 trillion in exposure to emerging markets… Spanishbondyieldshavecollapsedtotheirlowestsince 2006 (andItalianclosebehind). With an entirelybrokentransmissionmechanismofmonetarypolicy, it seems the "market" for European bonds knows no bounds as spreads on the riskiest sovereigns drop to pre-crisis … Seguir leyendo Europe Is Fixed: Spanish Yields Tumble To 8 Year Lows (Below US Treasuries)

—- WTICrudeOil Surges ToHighestPriceOnRecordForThisDayInHistory // ZeroHedge Whether driven by real supply-demand issues, concerns over terrorism (sparked by the Sochi plane debacle), or hopes a renewed un-tapered QE on the basis of 2 piss-poor jobs reports in a row is unclear. What is clear is that WTI crude is having its bestdayinover 2 months – now at its highest in 2014, back above $100 a barrel … Seguir leyendo WTI Crude Oil Surges To Highest Price On Record For This Day In History

—- BadNewsIsGreatNewsAgain; StocksHaveBest 2 DaysIn 4 Months // ZeroHedge Following the 2nd dismal jobs print in a row, it would appear the market’s new "common knowledge" is that the Fed will be forced to un-taper – despite Hilsenrath’s "Fed stays the course" perspective. Everythingisuptoday (apart from the USD). The disconnects from recent correlations were extreme as stocks lost the plot against FX carry, commodities, and … Seguir leyendo Bad News Is Great News Again; Stocks Have Best 2 Days In 4 Months

—- Turkish Lira DumpsAfter S&P Warns, CutsTurkishOutlook // ZeroHedge Having benefited from the earlier QE-un-taper hope, the Turkish Lira is dropping rapidly following the move by S&P to put Turky on negative outlook: *TURKEY’SOUTLOOKTONEGATIVEFROMSTABLEBY S&P*S&P SEESRISKSOFHARDECONOMICLANDINGINTURKEY Furthermore, the ratings agency raising questions over the Central Bank: *TURKEYSUFFERINGEROSIONOFGOVERNANCESTANDARDS, S&P SAYS*TURKEYSUFFERINGEROSIONOFCHECKSAND BALANCES, S&P SAYS*CONSTRAINTSONTURKEYCENBANKINDEPENDENCE: S&P. EM Un-fixed. —- Shared via myfeedlyreader Seguir leyendo Turkish Lira Dumps After S&P Warns, Cuts Turkish Outlook

—- China ServicesPMISlidesToLowestSinceAug 2011; 2nd LowestOnRecord // ZeroHedge At 50.7, HSBC’s China ServicesPMIis 0.1 aboveitspreviousrecordlowfromAugust 2011. In contrast to the manufacturing side of the economy – which lost jobs at the fastest rate since March 2009 – the services side saw a modest rise in employment but, as HSBC notes, as part of efforts to boost sales, both manufacturers and service providerscuttheirsellingpricesinJanuaryatthestrongestrateofdiscountingsinceJune 2012. The backlog … Seguir leyendo China Services PMI Slides To Lowest Since Aug 2011; 2nd Lowest On Record