Wednesday, January 14, 2015

Financial News of Note - January 14 , 2015 - ECJ Opinion Supports OMT Program ( however role of ECB in Troika may be ruled out as a condition , OMT may be legal - subject to conditions ) ........ Commodities definitely in focus ( especially copper plunging to fresh cycle lows today ) ...... currencies in focus ( euro off again , yen gains again ) ..... Greece in focus as Rajoy visits Greece to support ND , meanwhile Greece's primary surplus falls well short of target

Tweets....


 

4 minutes ago
Chart: Swiss government bond yield curve -








 

10 minutes ago
: Swiss rattle the markets with currency cap [VIDEO]

 YouTube

[271] Rick Rule on oil and Switzerland ditches its currency cap

The Swiss National Bank shocked financial markets on Thursday by ditching its policy of capping the Swiss Franc to the Euro. The unexpected move sent the saf...
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 · 3 minutes ago


Russia Cuts Off Ukraine Gas Supply To 6 European Countries

 zerohedge
View this content on zerohedge's website

Russia Cuts Off Ukraine Gas Supply To 6 European Countries

By zerohedge @zerohedge
Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and...
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9 minutes ago


Poland stops reverse-flow supplies of gas to Ukraine No reason given, keep your eyes on Slovakia supplies to Ukraine





 · 2 hours ago
AEP: ECJ has declared legal supremacy over . If Karlsruhe accepts this, Germany will no longer be a fully self-governing sov state.



 · 3 hours ago


Confirms Approval Of Poland USD 23 Bln Credit Line, Only As A Precautionary Measure, Not Expecting It To Be Drawn On




 · 8 hours ago


Russia Just Pulled Itself Out Of The Petrodollar

 zerohedge

Russia Just Pulled Itself Out Of The Petrodollar

By zerohedge @zerohedge
When the price of crude started its self-reinforcing plunge, such a death would happen whether the petrodollar participants wanted it, or, as the case may be, were dragged into the abattoir kicking...
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4 minutes ago
Banking crisis in Russia will be massive — Sberbank CEO

***

Since mid-2014 Russian banks have publicly announced they are having problems with currency liquidity due to sanctions and growth of bad loans because of the situation in the economy. The Russian Central Bank consistently introduced new mechanisms of providing liquidity, including non-standard ones, in a move to support banks in difficult times. Also, the government made a decision to increase the capital of Russia's banking sector by $15 bln.

***




 

6 minutes agoGreece
Spanish PM Rajoy is the latest in long line of right wing EU leaders who think they can bully 's voters into supporting New Democracy




 


7 minutes ago
2014 budget primary surplus at €1.93bn, €3.01bn short of target. Budget deficit at €3.64bn, €2.88bn below target ~


 · 1 hour ago


Greek election winner must stick to austerity, Schaeuble says


 · 2 hours ago



Moody's: 'Grexit' unlikely, less risk of contagion than in 2012 [Update]




 

4 minutes ago
Going lower RT : Italian and French 10-year yields have hit new all-time lows today at 1.71% and 0.67% respectively




 · 3 hours ago


"Yen is now the best performing major currency in the world this year."





 

3 minutes ago


Wells NIM drops again




 

30 seconds ago
JPMORGAN CFO SAYS 4Q LEGAL CHARGES RELATED TO CURRENCY PROBES. How many other markets did JPM rig?





 · 29 minutes ago


JPM Fixed Income Revenue $2.533 BN, Down $1.21BN from Q3, down $748MM from Q4 2013



 · 31 minutes ago



JPM mortgage banking: "Total headcount down over 7,500 for the year"




 · 11 minutes ago


JPM Misses Revenues And EPS Due To Another $1 Billion In Legal Costs





 · 59 minutes ago


Market Wrap: Copper Plummets; Euro Plunges To 9 Year Low On Euro-Court's OMT Ruling, Futures Down



 zerohedge
View this content on zerohedge's website

Market Wrap: Copper Plummets; Euro Plunges To 9 Year Low On Euro-Co...

By zerohedge @zerohedge
'After two days of sharp intraday and vicious reversals, the BTFD algos are suspiciously missing overnight, when as reported earlier, a bout of margin calls and stop loss selling meant not crude but...
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 · 2 hours ago


SWISS 10-YR BOND SALE DRAWS RECORD-LOW YIELD OF LESS THAN 0.2%. No ECB disruption anywhere




 · 2 hours ago



Greek Exit From Euro Would Cause ‘Significant’ Contagion: Fitch. But Germany said it was contained








 · 3 hours ago


Bye pari passu: EU COURT ADVISER SAYS GRANTING ECB PREFERENTIAL CREDITOR STATUS QUESTIONS POSITION OF OTHER CREDITORS, IMPACTS BOND VALUES






 · 4 hours ago


European Top Court Finds ECB's OMT "May Be Legal" But Must Meet Conditions





 · 4 hours ago

Copper Halted After Crashing 8% On LME, Sends AUD Plunging, Futures Dip Under 2000









 · 3 hours ago

Remember the rouble rumble? It's back....








 · 2 hours ago

Glencore shares slide to record low Now almost half of IPO value.








 · 20 minutes ago


Euro drops to lowest since 2005 as EU Court Aide Supports 2012 Bond-Buy Plan.








 · 22 minutes ago


of keeps going. German 10yr yields drop to 0.44% mimicking Japanese experience of the 1990s








 · 



at $40, and Below, Gaining Traction on Wall Street.






 Peter Spiegel retweeted

 · 3 hours ago
. 

ECJ has de facto declared the end of the Troika. The role of the ECB in Troika was always ill-defined.




 · 3 hours ago


Interesting side Q: would have to leave troika to execute ? That's what opinion seems to suggest here:

3 hours ago





 Peter Spiegel retweeted

 · 2 hours ago
Mersch : - ECB always convinced OMT was legally sound - OMT ready & available - Welcomes ECJ oppinion on OMT - ECB comply with EU laws

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