Europe

Another crazy day in the markets...

While stocks dropped and popped on the day... with a panic-buying scramble into the close to get Nasdaq unch...

On SPY's lowest volume day of 2016

Given the vicious downward spiral of competitive devaluation that is washing around the world's economic bathtub, it appears - just as we saw during The Great Depression - that currency wars have given way to mal-investment-fueled protectionism as US launches the first missile in the trade wars with a massive 266% tariff on imports of cold-rolled steel. “There’ll be a short-term benefit,“ said John Packard of Steel Market Update. ”However, in the long run, the U.S.

In the aftermath of this weekend's disappointing G-20 summit in Shanghai in which the much anticipated "grand Chinese devaluation" was not only not discussed, but any abrupt devaluation was taken off the table (if only for the time being), the market has shifted its attention to the next big policy event, which is the March 10 ECB announcement where much more easing is already priced in.

Authored by Mark Cliffe, originally posted at VoxEU.org,

Bail-In Regulation To Blame For “Bank Turmoil” In EU?

The Financial Times recently looked at how the new bail-in resolutions in the EU, U.S. and most of the western world and asked whether they may be leading to "bank turmoil" and increased concerns about banks and the banking sector in the EU. As is typically the case with coverage of the bail-in regime, the important article was little noticed.