Europe

Inevitable?

Back to the highs...

Dow is back above 17000 for the first time since Jan 6th... (50DMA is 17046)

And S&P breaks above 2000... (breaking the 50DMA at 1999.84)

We wonder what happens when the pre-market stops are run and Europe closes?

Murder Is Washington’s Foreign Policy

Paul Craig Roberts

Washington has a long history of massacring people, for example, the destruction of the Plains Indians by the Union war criminals Sherman and Sherridan and the atomic bombs dropped on Japanese civilian populations, but Washington has progressed from periodic massacres to fulltime massacring. From the Clinton regime forward, massacre of civilians has become a defining characteristic of the United States of America.

Submitted by Simon Black via SovereignMan.com,

Just stunning.

German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH.

Europe, of course, has been battling with negative interest rates for quite some time.

What this means is that commercial banks are being charged interest for holding wholesale deposits at the European Central Bank.

• Rivals rip Trump but promise support if he is the nominee (Reuters)
• Employment gains seen accelerating in February (Reuters)
• Brazil's Lula Targeted in Police Raid Into Corruption Scandal (BBG)
• Economist: For The ECB, It's No Longer About Oil (BBG)
• China's premier says economy faces greater difficulties in 2016 (Reuters)
• Copper Stockpiles in China Surge to Record as Metal Flows East (BBG)
• Turkish court jails two Syrians over drowning of toddler Aylan (Reuters)

There is an odd feeling of Deja QEu this morning, when with two hours to go until the February payrolls, global stocks are modestly higher, US equity futures are likewise slightly higher on the back of a weaker dollar (or perhaps stronger Euro following a Market News report according to which the ECB may disappoint, more on that shortly), but it is gold that is breaking out, and after entering a bull market yesterday when it rallied 20% from its December lows...