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    Forex News

    US and European stocks maintained their upward momentum as positive earnings announcements on both sides of the Atlantic offset lingering concerns over global growth and eurozone debt.

    A welter of mostly disappointing US economic releases highlighted some of the headwinds facing the world economy.

    Furthermore, Spain’s 10-year government bond yield – closely watched as an indicator of eurozone stress – broke back above 7 per cent following a disappointing debt auction in Madrid.

    “Current funding levels are not sustainable but they are unlikely to improve unless eurozone policy makers decide to take risk off the balance sheet of the sovereign,” said Divyang Shah, global strategist at IFR Markets.

    “With non-resident investors continuing to look for the exit on their holdings of Spanish debt, and data still showing capital flight from domestic banks, it is not surprising that worries remain over whether Spain can continue to access funding markets.”

    BigAppleForex.com

    Added by Dona & Stubbe on Mon, Jul 23rd 2012

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  • Forex Analysis 2012, July 24 : Spain Fears Soaring – Again – Risk Appetite Diminished

    Forex Analysis 2012, July 24 : Spain Fears Soaring – Again – Risk Appetite Diminishe

    A growing sense of foreboding about the outlook for Spain drove the country’s sovereign bond yields to euro-era highs and made for an ugly start to the week for risk assets in general.

    Global equity and commodity prices fell steeply, the euro sank to a two-year low against the dollar while demand for the safety of US, UK and German government debt remained strong.

    Concerns that Spain could be forced to seek a full sovereign bailout were heightened by local press reports at the weekend suggesting that more of the country’s regional governments could follow Valencia in seeking financial assistance from Madrid.

    A gloomy forecast for second-quarter GDP growth from the Bank of Spain and the reintroduction of equity short selling restrictions in both Madrid and Milan further eroded investor confidence.

    Spain’s 10-year sovereign bond yield climbed above 7.5 per cent and its two- year yield neared 7 per cent.

    Continue reading - BigAppleForex

    Added by Dona & Stubbe on Mon, Jul 23rd 2012

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  • Forex Analysis 24th July 2012 : Spain Fears Soaring – Again – Risk Appetite Diminished

    Forex Analysis 24th July 2012 : Spain Fears Soaring – Again – Risk Appetite Diminish

    A growing sense of foreboding about the outlook for Spain drove the country’s sovereign bond yields to euro-era highs and made for an ugly start to the week for risk assets in general.

    Global equity and commodity prices fell steeply, the euro sank to a two-year low against the dollar while demand for the safety of US, UK and German government debt remained strong.

    Concerns that Spain could be forced to seek a full sovereign bailout were heightened by local press reports at the weekend suggesting that more of the country’s regional governments could follow Valencia in seeking financial assistance from Madrid.

    A gloomy forecast for second-quarter GDP growth from the Bank of Spain and the reintroduction of equity short selling restrictions in both Madrid and Milan further eroded investor confidence.

    Spain’s 10-year sovereign bond yield climbed above 7.5 per cent and its two-year yield neared 7 per cent.

    Read full article - Forex News

    Added by Dona & Stubbe on Wed, Jul 25th 2012

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  • BigAppleForex.com 26th July 2012 - Traders Wary Global Recovery Prospects

    BigAppleForex.com 26th July 2012 - Traders Wary Global Recovery Prospects

    Disappointing data releases in the US, Germany and the UK highlighted the extent of the headwinds facing the world economy. US equity investors were further unsettled by an earnings miss from Apple.

    But some glimmers of hope emerged on the eurozone debt crisis front as Ewald Nowotny, a member of the European Central Bank’s governing council, was reported to have said there were arguments in favor of giving a banking license to the European Stability Mechanism, the region’s permanent rescue fund.

    “There is no doubt that this would dramatically reduce the negative risk premium carried by the euro, but of course, Mr Nowotny’s actual words were more balanced,” said Elsa Lignos, senior currency strategist at RBC Capital Markets.

    “Mario Draghi [European Central Bank president] has previously ruled it out and the ECB seems to be miles away from contemplating such a move – bear in mind the ESM hasn’t even cleared Germany’s constitutional court yet.”

    Nevertheless, on the Forex markets, the euro pushed back above $1.21 and recovered some ground against the yen. Spain’s 10-year government bond yield fell below 7.5 per cent while the two-year moved back below 6.5 per cent. Yields on Italian debt also retreated, while that on Germany’s 10-year Bund edged up 1bp to 1.26 per cent.

    Reposted With Permission : Forex

    Added by Dona & Stubbe on Fri, Jul 27th 2012

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  • BigAppleForex.com 2012, July 27 - Investors High In Confidence After Mario Draghi's Reassurance

    BigAppleForex.com 2012, July 27 - Investors High In Confidence After Mario Draghi's Reassura

    Robust verbal intervention from Mario Draghi rekindled investor risk appetite as the European Central Bank president pledged to do “whatever it takes” to preserve the single currency and said addressing high yields on eurozone sovereign debt came within the ECB’s mandate.

    Spanish and Italian sovereign debt yields fell sharply, the euro briefly climbed back above $1.23 and US and European equities enjoyed strong rallies as Mr Draghi’s comments were widely viewed as a signal that the ECB might restart its government bond-buying programme, which has been dormant for the past few months.

    “These comments are the strongest we have heard from the central banker and provide significant reassurance that the ECB will not simply sit idly by,” said Camilla Sutton, senior currency strategist at Scotia Bank. “There is likely to be renewed discussion of the potential for the ECB to reactivate the Securities Markets Programme or other form of bond-buying programme.”

    However, many in the markets had reservations about whether such action would provide more than just temporary relief.

    “In particular, we have some doubts about whether the interventions will be of the required scale,” said Nick Kounis, head of macro research at ABN Amro. “The ECB’s bond buys in the second half of last year proved to be rather limited, while the funds in the European Financial Stability Facility/European Stability Mechanism (ESM) are overshadowed by the size of the Italian and Spanish government bond markets. It therefore seems likely that the bond purchases will just allow policy makers to muddle through unless much more financial firepower is put on the table.”

    Full news on - Mario Draghi’s Eurozone Pledge Spurs Investors Confidence

    Added by Dona & Stubbe on Mon, Jul 30th 2012

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  • BigAppleForex.com 31st July 2012 : Stock Market Gains On Central Banks Hopes

    BigAppleForex.com 31st July 2012 : Stock Market Gains On Central Banks Hopes

    Stocks extended last week’s gains, buoyed by growing hopes that European policy makers would take action to tackle the region’s protracted debt crisis and that the US Federal Reserve could deliver new measures to shore up the slowing US economy.

    The FTSE All-World equity index climbed 0.3 per cent after stocks in the Asia-Pacific region rose 1.2 per cent and the FTSE Eurofirst 300 index saw a gain of 1.6 per cent. Wall Street’s S&P 500 rose in the morning session as the benchmark advanced to a near three-month high.

    But the index turned negative just before midday in New York – the S&P 500 has nonetheless moved 3.5 per cent higher in the past three sessions.

    Market sentiment has brightened in recent days after Mario Draghi, European Central Bank president, vowed to do “whatever it takes” to safeguard the euro, which some investors interpreted as signalling more bond purchases by the ECB.

    Hopes for fresh stimulus were fuelled by weekend comments to European newspapers by Jean-Claude Juncker, chair of the eurozone finance ministers’ group, that eurozone leaders and the ECB were committed to the stability of the euro.

    Related Article - BigAppleForex.com's Automated Forex Trading

    Added by Dona & Stubbe on Tue, Jul 31st 2012

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  • Breaking Forex News 2012, August 01 - Munis Weaker for Second Session

    Breaking Forex News 2012, August 01 - Munis Weaker for Second Session

    The tax-exempt market was weaker Monday morning, despite stronger Treasuries, as growing resistance to record low yields pushed prices lower for a second trading session. Munis were weaker ahead of what traders said was a manageable primary calendar this week.

    Munis were weaker Monday morning, according to the Municipal Market Data scale. Yields inside six years were steady while yields on the nine- to 22-year rose as much as two basis points. Outside 23 years, yields were flat.

    On Friday,A munis weakened, breaking a 24-session streak of steady to firmer munis. The two-year yield held steady at 0.29%. The 10-year jumped four basis points to 1.64%, finishing above its record low of 1.60% set Thursday. The 30-year yield climbed five basis points to 2.84%, finishing off its record low of 2.79% set Wednesday.


    Full news on - Free Forex Signals

    Added by Dona & Stubbe on Tue, Aug 7th 2012

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