The leaders of the lower chambers of parliament of Germany, Italy, France, and Luxembourg have called for a European “Federal Union” in an open letter published in Italian newspaper La Stampa on Sunday.
Submitted by Mike Shedlock via MishTalk.com,
Eurozone Target2 imbalances have touched or exceeded the crisis levels hit in 2012 when Greece was on the verge of leaving the Eurozone. Others have noted the growing imbalances as well.
I had a couple of questions for the ECB regarding Target2, which they have answered, I believe disingenuously.
First, we will explain Target2, then we will take a look at various charts, viewpoints, and the email exchange with the ECB.
Target2 Background
Via Disobedient Media
In December 2016, Europol released a statement warning that ISIS was likely to soon enact plans to stage large scale terror attacks in multiple states across the EU. The operations have been planned since 2013 but are now being accelerated due to ISIS' territorial losses in the Middle East to coalition forces.
Submitted by Martin Armstrong via ArmstrongEconomics.com,
What started off in familiar fashion, with Asian stocks rising, and Europe hitting multi-month highs and US futures in record territory has stumbled in recent minutes following a continued rush for safety in short-dated German Bunds (the 2Y is now trading at -0.92%) and ongoing selling in the USDJPY, which has pushed Stoxx 600 back to unchanged, and S&P futures to modestly red for the session.
The exact catalyst is unclear although traders are citing continued French political risks, as the recent OAT selloff continued this morning on Le Pen fears.