Ulster Bank Parent RBS Fails Bank of England Stress Test
"Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year's Bank of England stress test, which warned of a "challenging" outlook for Britain's financial system.
By EconMatters
OPEC did such a good job of putting many oil traders on the wrong side of the market for the last month, this short squeeze could go for a while. There is a lot of money positioned in the oil market for the deal not getting done!
https://www.youtube.com/watch?v=ZceUwCfQpvY
European, Asian stocks rise as do S&P futures as OPEC ministers gathering in Vienna appeared to be set to announce a deal to cut oil production and prop up global prices. Oil has surged over 7% as a result, also pushing US TSY yields and the dollar higher.
With all eyes on Vienna, where optimism OPEC ministers will salvage a deal to cut production, oil has soared by over 6% reverberating through the financial markets, spurring oil’s biggest gain in two weeks and sending stocks of energy producers and currencies of commodity-exporting nations higher.
As the public is told day after day by mainstream media, if stock prices are up in America, it is an indication that all is well in the economy... consumers can consume, investors can invest, and producers can produce as confident citizens gorge on ever more credit (because everything is awesome). So we wonder what the 'CNBC' of these two countries would be saying about their stock markets' massive outperformance...
Venezuela's "economy" must be roaring?