Stocks are up - just ignore everything else... "all is well"
One of these things is not like the other... Stocks were panic-bought once Europe closed but Crude, Credit, and Carry crumbled...
When last we checked in on Norway, we outlined what we called the country’s “currency conundrum.”
Yesterday we reported that the ECB has begun contemplating the death of the €500 EURO note, a fate which is now virtually assured for the one banknote which not only makes up 30% of the total European paper currency in circulation by value, but provides the best alternative to Europe's tax on money known as NIRP.
That also explains why Mario Draghi is so intent on eradicating it first, then the €200 bill, then the €100 bill, and so on.
The German Chancellor Angela Merkel has backed a controversial call by Turkey to impose a no-fly zone over northern Syria. She said it would help alleviate the refugee crisis: “In the current situation it would be helpful, if there could be such an area, where none of the parties are allowed to launch aerial attacks, that is to say, a kind of no-fly zone“ Turkish President Erdogan threatened Europe with a new migrant wave renewing calls for no-fly zone in Syria just days ago.