Draghi shot his ‘bazooka’ today and the initial reaction from investors is telling, according to BofA's Michael Contopoulos. The price action in markets (equities down, US rates higher, strength in the Euro) suggests that investors focused more on the signaling of no further interest rate cuts than on the reductions in three key interest rates and the additional bond purchases.
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
The United States is in the final stages of negotiating the Trans-Pacific Partnership (TPP), a massive free-trade agreement with Mexico, Canada, Japan, Singapore and seven other countries. Who will benefit from the TPP? American workers? Consumers? Small businesses? Taxpayers? Or the biggest multinational corporations in the world?
US President Barack Obama has blasted the UK and France over their Libya policy in the aftermath of the 2011 overthrow of Libyan leader Muammar Gaddafi. Blaming them for the current chaos in Libya, he referred to the situation as a “mess”and in private called it a “s**t show.” In an interview interview with the Atlantic, Obama said he was wrong to believe the allies would be “invested in the follow-up” to Gaddafi’s ouster.
Three months ago, on December 4, when the ECB clearly disappointed markets and European stocks tumbled as the Euro soared, it took a speech by Mario Draghi at the Economic Club in NY to send stocks soaring...