The number of futures betting on euro-area equity turbulence crashed 44% from a record following last week’s expiration, as it appears Emmaniel Macron's victory has seemingly saved the world...
As Bloomberg details, that was the second-biggest one-day drop on record, after a 53 percent decline in open interest back in August 2010, when the market was much smaller.
Remember Paris
And London in March...
At the time of the London attack, Bloomberg's Paul Dobson reminded readers that were wondering about the sanguine response to the breaking news, that terrorist incidents including the one in Paris in 2015 and London bombings in 2005 spurred equity selloffs that were erased in the following days and weeks.
And sure enough traders decided the bombing and murder of 22 kids in Machester was the perfect opportunity to panic buy stocks...
Authored by Judith Bergmann via The Gatestone Institute,
Shielding heads of state from seeing the consequences of the policies that they themselves have forced on the entire European continent represents a staggering new level of hypocrisy.
Following the horrific events last night in Manchester in which a bombing at an Ariana Grande concert, primarily attended by teenagers, claimed the lives of at least 22 people, we're just now learning that the Islamic State is claiming responsibility for the attack.
BREAKING: Islamic State group says one of its members carried out the Manchester attack that killed 22 people.
— The Associated Press (@AP) May 23, 2017
S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range. Oil declined after the Trump budget proposal suggested selling half the crude held in the US strategic petroleum reserve.