Europe

The global bond rout returned with a bang, sending 10Y US Treasury yields as much as six basis points higher to 2.53%, the highest level in over two years. The selloff happened as oil prices surged by more than 5% following Saturday's agreement by NOPEC nations agreed to slash production, leading to rising inflation pressures. At last check, the 10Y was trading at 2.505%, up from 2.462% at Friday and on track for its highest close since September 2014, according to Tradeweb.

Submitted by Jim Quinn via The Burning Platform blog,

By Chris at www.CapitalistExploits.at

Today we discuss the largest wholesale funding market in the world, the eurodollar market, and how its "normal" form of functioning has dramatically changed, causing all manner of problems in the global economy. 

In last week's post we discussed shadow banking at its finest: the eurodollar market. It was the precursor to this article and so if you've not read it then it'll be useful to do so here before reading this article.

Source: Japantimes

15 Billion Euro. That’s the magical (and real) number the Italian bank Banca de Monte Paschi has to be worried about. 15 Billion Euro is the approximate amount its customers have withdrawn from their bank accounts since January.

Submitted by Giulio Meotti via The Gatestone Institute,