In its latest monthly market report released early on Friday, the International Energy Agency forecast that oil prices may have bottomed as shrinking supplies outside OPEC and disruptions inside the group erode the global surplus. This comes just one month after it had a far gloomier assessment of oil prices, warned on excess supply, and asked if the market was witnessing a "false dawn."
Three months ago, on December 4, when the ECB clearly disappointed markets and European stocks tumbled as the Euro soared, it took a speech by Mario Draghi at the Economic Club in NY to send stocks soaring...
In our snap assessment of the ECB's decision yesterday, we highlighted some of the key highlights: the most important part of Draghi's monetary expansion was the inclusion of investment grade non-fin European corporate bonds, a necessary precondition to expanding QE by €20BN due to the scarcity of treasury collateral; the total €1.6 trillion universe of eligible Investment Grade bonds while sizable, is actually far less than it appears on the surface, that there is a "crowding out" danger as traders rush to sub-IG debt which may impair liquidity in the IG bond market next, and that many que
While the leaders of the Fed and other central banks claim that their extraordinary monetary policies haven't significantly increased inequality, economists with the world's most prestigious financial agency, the Bank of International Settlements - known as "the Central Banks' Central Bank" - just released a report showing otherwise.
BIS notes:
The economy of the United States was destroyed almost overnight.
As VisualCapitalist's Jeff Desjardins notes, more than 5,000 banks collapsed, and there were 12 million people out of work in America as factories, banks, and other shops closed.