Evening Wrap.......
Don's Speak ....... Really applies for so many things , when you think about it.
Overview.......
#Oil prices jump as U.S. oil drillers cut rigs to least in 6yrs. http://reut.rs/241i0uW
WTI #Oil Settles at $29.44 a Barrel, Up 12% (Biggest Percentage Gain Since February 2009) #ipweek #OPEC #shale
WTI's move at one point today was ~5 sigmas in percent terms but just ~2.5 sigmas in dollar terms h/t @JavierBlas2
A different perspective on today's #oil rally: Friday is up 11%, but for the week #oil is still down (and below $30)
SLJ: The BOJ has over-reached, with its pre-emptive NIRP, which I believe was entirely unnecessary and ill-advised.
Negative rates damages credit creation, fuels bubbles, threatens civic freedoms & spooks the living hell out of mkts http://www.breakingviews.com/21235245.article?h=fb96a3365213bc9ddf70ffaafb415837&s=2 …
When central banks don't have the answer anymore.
http://www.nytimes.com/2016/02/12/business/dealbook/swedish-bank-move-creates-a-global-shudder.html?ref=topics&_r=0 …
How €3.5 Trillion In NIRP Debt Made Europe's Credit Market "Most Vulnerable Since Lehman" http://www.zerohedge.com/news/2016-02-12/how-%E2%82%AC35-trillion-nirp-debt-made-europes-credit-market-most-vulnerable-lehman …
637 Rate Cuts And $12.3 Trillion In Global QE Later, World Shocked To Find "Quantitative Failure" http://www.zerohedge.com/news/2016-02-12/637-rate-cuts-and-123-trillion-global-qe-later-world-shocked-find-quantitative-failu …
There is ‘firm’ support for a depo rate cut within #ECB as inflation expectations falling. http://reut.rs/240VRg5
Central banks may have underestimated the risks of negative interest rate policies #NIRP http://pim.co/Ydd7A
Europe.........
Let's be sympathetic..... he does seem to work OT , with time & half , no comp time....
So , when will new elections be called ?
TSIPRAS REITERATES GOVT WON'T CUT PENSIONS - AVGI
#Greece juggles #refugees & financial black holes - @Suavlos reports on how refugee crisis poses economic challenge http://dw.com/p/1HuFW?tw
I know it is becoming one already, but once Schengen is formally suspended there will be no outlet. Greece will be on its own. Again.
FT op-ed: ‘Scapegoating #Greece for Schengen’s failure is just what some EU states need’. http://blogs.ft.com/brusselsblog/2016/02/12/greece-takes-a-fall-for-schengen/ …
SSM's Nouy sees no need for new recap of #Greece's banks; GR banks won't be included in 2016 stress tests & AQR http://bit.ly/1O7WRDs #ECB
#Greece takes a fall for #Schengen, writes @PepinBossu for @ftbrussels. It's been heading that way for some time http://on.ft.com/1V9kC3P
So many painful aspects of the Greek crisis come together in this brief scene #Greece
Meanwhile....
How much more could Sovereign Wealth Funds sell if oil goes to $20? Acc to JPM $145bn of govt bonds, $113bn equities
Credit-Default Swaps Are Back as Investor Fear Grows http://bloom.bg/1V9t1nS
Gen @PMBreedlove says @NATO ships in the Aegean won't interdict, only send info to #Greece/#Turkey for them to send people back ~@camanpour
Austria ready to send its military to Macedonia to seal off Greece. Extraordinary times.
cc @tsipras_eu
ECB in Talks With Italy Over Buying Bundles of Bad Loans-Treasury http://www.nytimes.com/reuters/2016/02/12/business/12reuters-eurozone-ecb-abs.html?src=busln&_r=0 …
Four obstacles to review completion http://dlvr.it/KV5r79
Nasty surprise from GDP figures reveals a contraction of 0.7 percent in 2015 http://dlvr.it/KV5rCk
Greek farmers clash with police, parade tractors in pensions protest http://reut.rs/1SLZKlN
photo: @yannisBehrakis
Farmers protest in front of parliament. #greececrisis #protest
Italy stagnates, Renzi emboldened: "Europe has taken the wrong road, austerity alone is not enough" http://www.telegraph.co.uk/finance/economics/12153577/Stagnating-Italy-poses-new-headache-for-embattled-eurozone.html …
"@Landonthomasjr: Latest sign that Greece/Troika talks in trouble. A complaint by Thomsen re pension/debt relief.
http://blog-imfdirect.imf.org/2016/02/11/gre …"
Scoop w/ @florianeder!: EP prez Martin Schulz will be in the room for Brexit summit for 1st time http://www.politico.eu/article/martin-schulz-will-be-in-the-room-for-brexit-summit/ … @POLITICOEurope
Top German general praises Russian bombing in Syria http://bit.ly/1o5Sd3V
Attacks on migrants in northern France are on the rise: Gang armed with metal bars arrested http://www.thelocal.fr/20160211/seven-held-in-northern-france-for-attacking-migrants …
#EU gives #Greece three months to fix border controls or face suspension from Schengen zone for up to two years http://bbc.in/1TcsXVl
#SPAIN'S ACTING ECONOMY MINISTER SAYS FIRST ESTIMATE FOR 2015 PUBLIC DEFICIT IS 4.5 PERCENT OF GDP - RTRS
#BREAKING Merkel's liberal refugee policy 'unsustainable in long-term': France's PM
Over 130 Tory councillors call on Cameron to lead #Brexit campaing in wake of 'failed' negotiation: http://openeurope.org.uk/daily-shakeup/france-and-germany-digging-in-over-non-eurozone-banking-rules-in-uk-eu-deal/#section-3 …
Fallen Angela: #Merkel continues to lose public support amid ongoing #RefugeeCrisis
http://sptnkne.ws/aBQU
Dutch governing VVD threatens with "national measures", reportedly border controls, if EU fails to stem asylum flow http://www.elsevier.nl/Nederland/achtergrond/2016/2/Asieldebat-Zijlstra-zinspeelt-op-sluiten-Nederlandse-grenzen-2760404W/?intcmp=related-content …
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