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Apr 4, 2013
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and the main component is the success of the ecb. apparently draghi's words are more convincing, more credible than we all thought when he mentioned them for the first time in last year in the summer and even when we saw the details of the omt program because at that point, a lot of people still were thinking that the ecb had to show its cards before the market would be comforted. and so far, they have not been forced to do so. and still it continues to be a very powerful force despite all this political uncertainty in europe that has reemerged. so i think that is really the major driver. although probably in the back drop also recovery in the global economy plays a role. but given the recent signs of weakness in europe, that strength is clearly coming down. >> hello. i agree with you just one data point which i found interesting. if you look at the holding of spanish bond by spanish bank, it will be going down since march last year, which was is a surprise for me. that means the issuance in spain is not bought by spanish bank, but by
and the main component is the success of the ecb. apparently draghi's words are more convincing, more credible than we all thought when he mentioned them for the first time in last year in the summer and even when we saw the details of the omt program because at that point, a lot of people still were thinking that the ecb had to show its cards before the market would be comforted. and so far, they have not been forced to do so. and still it continues to be a very powerful force despite all this...
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Apr 8, 2013
04/13
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it is kind of in the water with the ecb. even though there are is people of all nationalities working there, it is the approach that we need to focus on stable prices and everything else will take care of itself. >> host: it is bizarre that he raised interest rates during the crisis of. >> guest: and a couple of junctures' this seemed like mistakes in hindsight. some of 2008 which was like before the entire world collapsed. then again in the spring in the summer of 2011 which was just as we entered the doctor's face of the european crisis and the rest of europe falling apart. it to fall into recession. we came to the very brink of some very nasty things in europe. the b-1 what kind of grade you think he would get? >> guest: he gets hello be. he was unable to do something that his successor has been able to. i take that back. i would bring the first down to a seat. on the one hand, he was able to corral the ecb to do some things that were very uncomfortable for that organization. in may 2010 he went into bond markets to try an
it is kind of in the water with the ecb. even though there are is people of all nationalities working there, it is the approach that we need to focus on stable prices and everything else will take care of itself. >> host: it is bizarre that he raised interest rates during the crisis of. >> guest: and a couple of junctures' this seemed like mistakes in hindsight. some of 2008 which was like before the entire world collapsed. then again in the spring in the summer of 2011 which was...
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Apr 29, 2013
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all eyes will be on the ecb. eliver ago rate cut. >>> and another member of jamie dimon's enner circle is leaving jpmorgan. the latest shake up since the bank's massive trading lowses. . >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right. if you're just joining us stateside, welcome tort stat of your week on "worldwide exchange." not a bad week. last week, we saw slim gains. we are called a little higher. dow up 42 points. the imply opening on the nasdaq at the moment is some seven points and the s&p is called up 5 points, something like that. the ftse cnbc global 300 is up 0.25%. right now, it's a fairly quiet start to the week, just up 4 points on the ftse 1100. the ibex is up 1.3%. the ftse mib today is outperforming, 11.6%. it's only been up about that amount for the year. we focus in on the italian debt market today. we've been auctioning up to 6 billion across five and ten-year bids. y50e8dz have come down on the five year. the last reopening w
all eyes will be on the ecb. eliver ago rate cut. >>> and another member of jamie dimon's enner circle is leaving jpmorgan. the latest shake up since the bank's massive trading lowses. . >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right. if you're just joining us stateside, welcome tort stat of your week on "worldwide exchange." not a bad week. last week, we saw slim gains. we are...
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Apr 29, 2013
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whether it's the italian coalition or what the ecb is going to do this thursday. simon? quities. you can see green across the board because the data is so bad. now the majority of economists believe we will get an interest rate cut from the ecb on thursday. european stocks, the top 50 blue chips in the eurozone are now up over 5% in just one week in anticipation of that. and today we learned that economic confidence in april fell back to december low. again, the data is poor. you will notice an out performance as well from italy in particular. that stock market doing very well today. carl mentioned we now have the beginning of a new government there on those big italian blue chips have rally aid cross the board because it's not just the equity market that's rallying. it's peripheral bond markets rallying as well, driving down the yields for which the governments have to borrow at two on a weighted basis, 13-year lows according to douglas. so that's always a win-win situation all of the way around. you see these guys, mediaset owned by berlusconi. we look at the new prime
whether it's the italian coalition or what the ecb is going to do this thursday. simon? quities. you can see green across the board because the data is so bad. now the majority of economists believe we will get an interest rate cut from the ecb on thursday. european stocks, the top 50 blue chips in the eurozone are now up over 5% in just one week in anticipation of that. and today we learned that economic confidence in april fell back to december low. again, the data is poor. you will notice an...
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Apr 26, 2013
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. >> the ecb is out with some figures, showing 276% growth. >> minus -- >> yeah. >> minus 0.8%, which was what apparently reuters were expecting was minus 0.8%. the annual growth at the n3 annual growth versus 3%. which may get some more room if they're word about m2 and m3 to cut rates. >> i was just quoting bill blain who said they should cut. will they? s it's a different question. will they try to get funds flowing to periphery. also important is what they're saying about holdings of italian and spanish debt. so a couple of these numbers coming out needs to be saying that spanish banks bought about 15 billion euros in government bonds in march. italian banks bought a net about 11 billion in government bonds for the month. >> the good news is they made money on those purchases. >> literally, we've seen a massive rally. >> they've done okay. because a lot question whether you're buying at the top of the market. >> what i'd really like to know when we get the results is less about what spanish banks are buying from their own governments and more about what central banks in those coun
. >> the ecb is out with some figures, showing 276% growth. >> minus -- >> yeah. >> minus 0.8%, which was what apparently reuters were expecting was minus 0.8%. the annual growth at the n3 annual growth versus 3%. which may get some more room if they're word about m2 and m3 to cut rates. >> i was just quoting bill blain who said they should cut. will they? s it's a different question. will they try to get funds flowing to periphery. also important is what they're...
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Apr 2, 2013
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. >> the ecb meets thursday. mario draghi after winning is coming in and helping government bond yields by saying he'll do whatever it takes last year has kind of been out of the picture lately. is it becoming more urgent for the european central bank, just forgetting everything across the eurozone to ease for the sake of the weak.ing outlook here? >> i don't think there is very much the european central bank can do. cutting interest rates would not make a huge difference. the problem of fate has very little to do with ecb rates at 0.75 being too high and an extremely low rate. the problem is the transmission of monetary policy to householdes and companies. >> yeah. no spanish companies are borrowing at 0.75%. >> exactly. reducing that rate wouldn't really help them very much. what we need much more are a signal or signals of confidence that spain, that other countries would stay the course. if the confidence in the future of spain and italy rebounds, then banks will have better funding core as they'll be able to
. >> the ecb meets thursday. mario draghi after winning is coming in and helping government bond yields by saying he'll do whatever it takes last year has kind of been out of the picture lately. is it becoming more urgent for the european central bank, just forgetting everything across the eurozone to ease for the sake of the weak.ing outlook here? >> i don't think there is very much the european central bank can do. cutting interest rates would not make a huge difference. the...
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Apr 14, 2013
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not just the ecb. e swiss national bank -- that's partly a reflection of the service they shared. >> host: is not only that way. when the fed was lending money to the discount window in the thing that evolved into this facility turns out we now know european banks requiring direct from the factory u.s. offices. it strikes me as exactly the opposite when each of them is falling apart and this time they're pulling together. >> host: i'll be honest i did not fully understand at the time. i kind of got my head around this in december 2007, which seemed like an eternity ago. we now know because this information has come out through foia requests in lawsuits and the dodd-frank said overwhelmingly that money ended up being hundreds and hundreds of billion dollars by two european banks, not to bank cds. this would have been politically explosive. it's very much the case the federal reserve was bailing out the banks through the crisis. >> host: you cover a lot of history. he got back to the 16th century. how unu
not just the ecb. e swiss national bank -- that's partly a reflection of the service they shared. >> host: is not only that way. when the fed was lending money to the discount window in the thing that evolved into this facility turns out we now know european banks requiring direct from the factory u.s. offices. it strikes me as exactly the opposite when each of them is falling apart and this time they're pulling together. >> host: i'll be honest i did not fully understand at the...
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Apr 8, 2013
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representatives of the ecb, the commission and the backing effort back in the ecb to rescue new plans to rescue the debt history. 25,000 civil servant res on the table. these have turned into a stumbling block in the location. in agreement was reached and the finance minister samaras has resumed talks. joining us now is janis mileos. thanks very much, indeed, for joining us. are we heading into another standoff with greece or not? >>el well, you know the situation is not becoming better in greece. we still have a very big recession for a fifth year. the recession is going to be more than 4 many 5%. some people say that it will be more than 5% and this cannot go on. and what we see from the side of the troika and the greek government is the continuation of the same policy which creates this negative cycle of recession, more in-depthness, more recession and more cuts which, of course, fuel the recession. so what we are saying is that we need a change of policy. we must come to a new era and try to boost growth. >> what's the alternative? >> the alternative is to stop this austerity, to
representatives of the ecb, the commission and the backing effort back in the ecb to rescue new plans to rescue the debt history. 25,000 civil servant res on the table. these have turned into a stumbling block in the location. in agreement was reached and the finance minister samaras has resumed talks. joining us now is janis mileos. thanks very much, indeed, for joining us. are we heading into another standoff with greece or not? >>el well, you know the situation is not becoming better...
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Apr 30, 2013
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so now there's a real expectation perhaps the ecb -- certainly the ecb has more than enough cover to ps to launch something for small businesses, something an ecb version of what we've got in the uk, funding for lenning schemes. so our expectations are that we will get one or the other. not many people think we will get both. but they're covered for the ecb to take some kind of action on thursday. >>> and how is that all playing into u.s. futures? we were called flat earlier on. and we are just below. four points lower on the dow. the nasdaq is implied 0.75% lower. we're up at record highs on the s&p. once again, a record high close. nasdaq up at 12 1/2 year highs and i don't think we've had a three-day down session now for the dow this year which i think is the first time that's ever happened. we've got that period without three consecutive down days. other things to look out for stateside today, first quarter employment cost index is out at 8:30 eastern. it's forecast to rise 0.5%. and at 9:00 a.m., we get the monthly case-shiller home price index. prices are expected to have risen
so now there's a real expectation perhaps the ecb -- certainly the ecb has more than enough cover to ps to launch something for small businesses, something an ecb version of what we've got in the uk, funding for lenning schemes. so our expectations are that we will get one or the other. not many people think we will get both. but they're covered for the ecb to take some kind of action on thursday. >>> and how is that all playing into u.s. futures? we were called flat earlier on. and we...
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Apr 29, 2013
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everyone wants don't fight the fed, don't fight the ecb. on the bund side it's a very different indicator. i was told don't be in bonds. because we're going to get inflation and reflation. that has not happened. the 10-year broke 1.7 on the downside. we're in the 1.6s. the bond market has aquity mark concerned about the central bank stimulus. that's why it's good to have a balanced, good 60/40 portfolio would be just right right now. >> yeah. that's definitely the focus in the stock market. no doubt about it. the fed basically talking or suggesting when the stimulus starts to end. kenny, what went on the end of the day here? the market seemed to be finding its groove again. >> the sense is a couple of things. first of all just like the other guests said it is absolutely the ecb, absolutely the fed. we're getting weaker u.s. macro data. look at the dow's fed survey today. completely off the charts. yet the market continues to move higher because everyone just expects that, you know, the fed is going to sit there and continue to support. that
everyone wants don't fight the fed, don't fight the ecb. on the bund side it's a very different indicator. i was told don't be in bonds. because we're going to get inflation and reflation. that has not happened. the 10-year broke 1.7 on the downside. we're in the 1.6s. the bond market has aquity mark concerned about the central bank stimulus. that's why it's good to have a balanced, good 60/40 portfolio would be just right right now. >> yeah. that's definitely the focus in the stock...
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Apr 3, 2013
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that inflation data has traders speculating about what the ecb might do at its policy meeting this week. our correspondent has more from the frankfurt stock exchange. >> the relatively low consumer price inflation in the eurozone -- this caused a lot of speculation on the markets. what will the european central bank decide this thursday in frankfurt? will the key interest rates be lowered again? at the moment, the majority of experts here do not think that a rate cut is going to happen, but growth data out of the eurozone has been coming in weaker and weaker in recent days and weeks, so lower interest rates now could make sense. what is also going to be interesting for the markets is what mario draghi, the ecb president, will have to say about cyprus and if he thinks that the rescue of the cypriot banks could serve as a template or model for future operations of that kind. >> the dax lost some ground, actually, mostly due to some weaker than expected jobs data out of the united states from the private sector. the euro stocks -- stoxx 50 sharply lower. in new york, the momentum continues
that inflation data has traders speculating about what the ecb might do at its policy meeting this week. our correspondent has more from the frankfurt stock exchange. >> the relatively low consumer price inflation in the eurozone -- this caused a lot of speculation on the markets. what will the european central bank decide this thursday in frankfurt? will the key interest rates be lowered again? at the moment, the majority of experts here do not think that a rate cut is going to happen,...
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Apr 24, 2013
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a great interview with one of the five wiseman yesterday who said he does not think the ecb should cut rates. when you get german data like this, companies are far more cautious than last month. do you think that does make it easier to win over the german heart and mind? >> also pmis were disappointing after a string of disappointments for germany and europe as well as for the world economy. it should be noted that inflation is moving to the low end of what is ecb's target range and to the extent that oil prices remain down here, there's every chance that inflation will undershoot which gives them further reason to cut rates. >> every time we raise this issue, the pushback, the argument against this is that it's not about the price of money. it's not about liquidity, et cetera. look at what markets are doing. it's actually just about the fragmentation we see across the eurozone and that's not something that monetary policy can tackle. >> without question. that's where the debate will shift. if they do cut rates, it will open up to what other measures they need to take. one of the big p
a great interview with one of the five wiseman yesterday who said he does not think the ecb should cut rates. when you get german data like this, companies are far more cautious than last month. do you think that does make it easier to win over the german heart and mind? >> also pmis were disappointing after a string of disappointments for germany and europe as well as for the world economy. it should be noted that inflation is moving to the low end of what is ecb's target range and to...
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Apr 12, 2013
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at the end of the day, the ecb can do down one of four avenues very quickly. they can cut interest rates, offer dates, they can do omts, they can do some funding for lending like the uk has done. and the market is right to think that the european -- should be taken seriously. so in the short-term, the debt should be clear for the market. the balance sheet was the only one around the world to shrink over the first quarter of the year, which means the ecb could keep its gunpowder dry and be ready to intervene in the markets. >> okay. the resilience stays. >>> don't forget a bid coin is continuing its downward trajectory following a 12-hour suspension on the world's biggest currency exchange. the price fell $25 before shooting up to $102 and then back up to see 95, this all back up to 8:00 a.m. cet. it has emerged that the winkelbot twin appears to be the biggest portfolio of the online currency. and despite recent difficulties with trading of bitcoins, the "new york times" were told that the virtual currency is here to stay. what we're asking you today is do you
at the end of the day, the ecb can do down one of four avenues very quickly. they can cut interest rates, offer dates, they can do omts, they can do some funding for lending like the uk has done. and the market is right to think that the european -- should be taken seriously. so in the short-term, the debt should be clear for the market. the balance sheet was the only one around the world to shrink over the first quarter of the year, which means the ecb could keep its gunpowder dry and be ready...
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Apr 25, 2013
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speculation of what the ecb may do. always more hawkish but saying, we're not necessarily going to pursue a fed-style qe program here. >> growth fears are have given rise over the merits of deep cutting of deficits, whether it may be time for government toes loosen the purse strings. david lipton says our view is that the case of consolidation ought to be reconsidered. mark carney, the new bank of england governor has drawn comparisons to the united states suggesting there may be lessons to learn from washington. jim o'neill, chairman of the goldman sachs asset management suggests osbourn's austerity plan represents a lost decade for the uk. finally, the european commission president is making headlines with his outspoken claim that the era of austerity has potentially run its course, it's running up to the limits of what is politically possible. >> joining us on the line from new dehli, specializing in the eurozone crisis, and jeffrey dix is still here with us on set. sony, first to you. we're clearly in the middle of a
speculation of what the ecb may do. always more hawkish but saying, we're not necessarily going to pursue a fed-style qe program here. >> growth fears are have given rise over the merits of deep cutting of deficits, whether it may be time for government toes loosen the purse strings. david lipton says our view is that the case of consolidation ought to be reconsidered. mark carney, the new bank of england governor has drawn comparisons to the united states suggesting there may be lessons...
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Apr 25, 2013
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and the ecb has to get with the program, the reflation program. it's becoming greater and greater because of the difference between the ecb and the fed. >> you say when it comes to these defensive stocks which have largely led the rally -- >> right. >> that valuations have gotten stretched. it's an argument that weiss clearly is making, as well. but there seems to be a difference of opinion in the market right now as to whether valuations are too rich at this point, whether they can get extended even further, right? we have had that argument of late, certainly on this desk and the trading community. there really seems to be a push/pull there. >> well, look, even though i do believe we believe that valuations are stretched in these more -- in the safer stocks, i think until there's an indication that there's a reacceleration of growth in the u.s. and globally, people will stay there because it is safe. we'd be adding new money to the more pro cyclical areas, both because of valuation and when people get a greater comfort level, we think ultimately
and the ecb has to get with the program, the reflation program. it's becoming greater and greater because of the difference between the ecb and the fed. >> you say when it comes to these defensive stocks which have largely led the rally -- >> right. >> that valuations have gotten stretched. it's an argument that weiss clearly is making, as well. but there seems to be a difference of opinion in the market right now as to whether valuations are too rich at this point, whether...
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Apr 5, 2013
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the ecb has put every effort in terms of housing countries on conditionality. basically, use your own job, fist your own problem, and i'm here to help. i think in europe short-term probably the pain is going to be slightly higher, but so is the reform. >> let's get a little bit -- i want to talk specifically about europe and japan. we want to remind people, there's a warning the region could be heading for a slow death if it continues on its austerity path. is it structural or do they just need more stimulus? anyway, again, he compared europe's future to japan' past. >> for 25 years, japan was dying a slow death. >> right. >> and now they woke up. and the fascinating thing is that in europe, the austerity program is actually leading the eurozone into exactly the same policy that japan is now trying to escape after 25 years. >> now, banks in cyprus were shut again yesterday this time because of the strike by bank workers. thousands of employees walked off the job for two hours. the banking union says pension funds aren't fully protected as part of the country's i
the ecb has put every effort in terms of housing countries on conditionality. basically, use your own job, fist your own problem, and i'm here to help. i think in europe short-term probably the pain is going to be slightly higher, but so is the reform. >> let's get a little bit -- i want to talk specifically about europe and japan. we want to remind people, there's a warning the region could be heading for a slow death if it continues on its austerity path. is it structural or do they...
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Apr 4, 2013
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that means the ecb. they don't have one right now. guys, back to you. >> japan, no growth, no immigration. few children. no progress. doesn't matter what the boj necessarily wants to do. but a man who knows about whether we should be buying japan bonds is on tap here. let's shift to the bond and dollar. rick sansantelli, cme group. should we buy those bond? >> not with my money, jim. i don't care if they go from 44 basis points to 2 basis points which is a great rally. sometimes missing making money isn't the end of the world. think nasdaq four months before it went down in 2000 and almost doubled in price. let's get to it -- a big day in the markets! 24-hour chart of 10s. low yield around 1.76. you know why that sounds familiar? that's where we closed last year. open it up and you can see how the 10-year chart is definitely flirting with some of the lowest yields since december at least on an intraday basis. let's switch gears overseas, a 10-year bund is hovering at 1.25. let's look at a 2-year bund. when you look at a 2-year note in
that means the ecb. they don't have one right now. guys, back to you. >> japan, no growth, no immigration. few children. no progress. doesn't matter what the boj necessarily wants to do. but a man who knows about whether we should be buying japan bonds is on tap here. let's shift to the bond and dollar. rick sansantelli, cme group. should we buy those bond? >> not with my money, jim. i don't care if they go from 44 basis points to 2 basis points which is a great rally. sometimes...
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Apr 4, 2013
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breaking news decision out of the ecb. rates unchanged at.75. on heading outside. the new corvette stingray. buckle up and hold on tonight. "squawk box" is coming right back. >>> welcome back to "squawk box". we're with chairman and ceo of g.m. phil lebeau is here. we're all acting like it's 80 but it's not. >> i'm not. i put my coat on. >> it's like 30. we're going to actually go over and look at the stingray eventually. i want to talk first about some of the stuff you told me about, the caddy. where are the caddy commercials filmed? is that in iraq? >> morocco. >> amazing. and cadillac has, in my view, has really helped g.m. regain some of the lost luster. this new one is a beautiful car. and you said you wanted something to compete with some of the euro -- like the the 300. >> we wanted a small luxury car to compete with the very best that the german and japanese have, specifically the bmw 300. this was designed to do just that and it will. >> it outperform the beamer on just about every metric. >> that's right. this is american ingenuity, ame
breaking news decision out of the ecb. rates unchanged at.75. on heading outside. the new corvette stingray. buckle up and hold on tonight. "squawk box" is coming right back. >>> welcome back to "squawk box". we're with chairman and ceo of g.m. phil lebeau is here. we're all acting like it's 80 but it's not. >> i'm not. i put my coat on. >> it's like 30. we're going to actually go over and look at the stingray eventually. i want to talk first about some...
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Apr 8, 2013
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how does the ecb respond to that? how do they take the punch bowl away in germany but not in spain? >> the point of this entire segment is supposed to be about analyzing the evaluation of the stock market. and steve said a bank that is willing to print money to ecb to backstop everybody could become cheap five years from now. five years. >> i completely get that it's your segment but let's do something that we do all the time. >> the american economy is not back to where it was and things are not all there. if you can project that down to europe, look at the european consumer. >> okay. we're going to leave it there. great debate. thank you very much. >> up next, the nation's best airline survey. who really dominates the skies? >> plus, what is really at stake for j.c. penney? and the battle with martha stewart. and we found the most delicious robbery ever. that's all ahead when "street signs" returns. >> take >> take a look at how some of the media stocks are doing today. 1.7% of bucking the stock trend for that sector. >> here is a disturbing story from our world there are now 5 mi
how does the ecb respond to that? how do they take the punch bowl away in germany but not in spain? >> the point of this entire segment is supposed to be about analyzing the evaluation of the stock market. and steve said a bank that is willing to print money to ecb to backstop everybody could become cheap five years from now. five years. >> i completely get that it's your segment but let's do something that we do all the time. >> the american economy is not back to where it...
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Apr 23, 2013
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the view is the ecb has to do something. the rate cuts. maybe it's more cheap money.. in the meantime, we're also watching what is happening in italy. the new italian president who didn't really want the job at 87 was very angry when he spoke in saying get your act together essentially. there's now a fast round meetings that will finish within the hour of which he basically wants a new government to have been formed. will it hold together? it may be enough for a further rally on asset markets. >> when 44 is an improvement, that's tough. thanks a lot. let's get a check on gold. a lot of news surrounding it today. sharon epperson is with us. hey, carl. the sovereign spreads are one of the reasons that we're seeing the selloff in the gold market. we are looking at prices that are slightly lower than we were after a three-day gain. and the prices seem to be testing that 1400 left on the downside. there still seems to be some physical demand for gold coming in, and it's been considerable. we talked about the u.s. mint and what the levels are there. we're also seeing extrem
the view is the ecb has to do something. the rate cuts. maybe it's more cheap money.. in the meantime, we're also watching what is happening in italy. the new italian president who didn't really want the job at 87 was very angry when he spoke in saying get your act together essentially. there's now a fast round meetings that will finish within the hour of which he basically wants a new government to have been formed. will it hold together? it may be enough for a further rally on asset markets....
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Apr 15, 2013
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greece has cleared a major hurdle towards getting its next installment of bailout funding from the eu, the ecb, and the imf. the greek foreign minister said that athens has agreed to the next age of economic reforms. the greek economy is in its sixth year of recession. unemployment has soared to a record 27%. economists are saying it could start growing again next year. >> back to cyprus now, where the president of the island is busy promoting some creative damage control after the eu approved a bailout that could mean up to 60% of bank balances are taken from deposits exceeding 100,000 euros. nicos anastasiades says he wants to get passports to foreign account holders who use -- lose 3 million euros or more as a result of the bailout. the prospect of free movement within the european union is especially appealing to russians, who hold billions in cypriot bank accounts. >> it looks like banks in the united states are climbing out of the global financial crisis. citigroup rake in the profits in the first quarter, making a 17% leap over a year ago. consumer banking revenues remain unchanged. cit
greece has cleared a major hurdle towards getting its next installment of bailout funding from the eu, the ecb, and the imf. the greek foreign minister said that athens has agreed to the next age of economic reforms. the greek economy is in its sixth year of recession. unemployment has soared to a record 27%. economists are saying it could start growing again next year. >> back to cyprus now, where the president of the island is busy promoting some creative damage control after the eu...
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Apr 15, 2013
04/13
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for governments and special the ecb and the japanese central bank. the issue is inflation, are we still in a deflationary move worldwide. back to you guys. melissa: so interesting. and the people who put 50% of their value in gold last year. thank you so much. so the results are in from venezuela presidential election. the front-runner narrowly edged out opposition candidate. who was handpicked by the late hugo chavez took 50.6% of the votes. just barely winning by 235,000 votes. this shows how much the political environment has really changed since the death last month. in october capriles lost to chavez by 11 percentage points. the opposition is calling for a recount, of course, but the uncertainty could raise tensions even more in the country as it already starts fiscal problems and high crime rate. white house press secretary jay carney just said an audit of electoral results would be important, prudent and a necessary step. weighing in there as well. interesting. lori: indeed, it is. deep selloff, sharp selloff, down 158 points citing the worst
for governments and special the ecb and the japanese central bank. the issue is inflation, are we still in a deflationary move worldwide. back to you guys. melissa: so interesting. and the people who put 50% of their value in gold last year. thank you so much. so the results are in from venezuela presidential election. the front-runner narrowly edged out opposition candidate. who was handpicked by the late hugo chavez took 50.6% of the votes. just barely winning by 235,000 votes. this shows how...
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Apr 29, 2013
04/13
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that's the huge week ahead for the market, the fed, the ecb meeting over the next several days. the jobs report coming this friday, not to mention a whole bunch of big earnings reports including facebook, merck, aig and mastercard. traders taking positions ahead of that. with us for the hour, john, terry, stephanie, simon. joe, a lot going on this week. >> i said at the beginning of the month that i thought april, you were going have to be very tactical. that's what i had done in the marketplace. there's a tremendous amount of overall economic news. it to look past that. earnings were lousy, but yet, the s&p continued to move higher. i continue to stay long. crude oil futures. the energy space right now is a source of opportunity. today, you're seeing strength in technology. that works well for my ibm position. i'll also highlight that microsoft is trading well and apple's recovering. lastly, i keep picking up on this sell and go away thesis and i still say i want to sell treasuries in may, which i did today by buying the tbt and go away. i just don't see equities continuing to
that's the huge week ahead for the market, the fed, the ecb meeting over the next several days. the jobs report coming this friday, not to mention a whole bunch of big earnings reports including facebook, merck, aig and mastercard. traders taking positions ahead of that. with us for the hour, john, terry, stephanie, simon. joe, a lot going on this week. >> i said at the beginning of the month that i thought april, you were going have to be very tactical. that's what i had done in the...
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Apr 23, 2013
04/13
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in fact, the balance sheet of the ecb is shrinking. the balance sheet of the other major central banks is growing dramatically. >> let's move the conversation to another asset class that has been a hot trade. it's paid to bet against the metal this year. goldman sachs is closing out the gold short. give us your read now on what's taking place in gold after what was one of the more volatile weeks we have seen in recent memory. >> i hadn't heard the goldman news. thank you. i believe you should own gold now. basically there were two targets for gold on the down side and the quantitative technical gain sense. one was 1400. the other was 1250. the 1400 level has held. now we are headed up. i would argue this is either a big bottom and we are going for a long time or it's a seven-week sort of two-month, one and a half months up move which is good for 1500. >> the trader's view is -- >> if you're going to have a long position in gold do you need it to act better when there is negative news? before gold broke down there was no flight to qualit
in fact, the balance sheet of the ecb is shrinking. the balance sheet of the other major central banks is growing dramatically. >> let's move the conversation to another asset class that has been a hot trade. it's paid to bet against the metal this year. goldman sachs is closing out the gold short. give us your read now on what's taking place in gold after what was one of the more volatile weeks we have seen in recent memory. >> i hadn't heard the goldman news. thank you. i believe...
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Apr 16, 2013
04/13
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. >> i think what people are forgetting here is that the fed, the ecb, the bank of france would like to see gold prices lower, bank of china on the other hand, i suspect would like to see gold prices trading higher. the monetary authorities in the west would much prefer to see a much lower gold price. it would send a signal good, bad and indifferent that their policies are doing the right thing. they're not going to be sponsors of stronger gold prices, sri lanka may be, china will be, southeast asian countries will be. but the major monetary authorities, the ecb, the fed, they will not be. >> dennis, thanks for your time. mike khou, i want to go to you. see any interesting activity on gld today? >> dennis was talking about the futures. it is actually a decent proxy to trade gold for those who can't trade the futures. and when we take a look at what the options market has been saying, puts were out chasing the calls on gld almost 2 to 1, that's unusual. trading about two times the average put volume. i think people are feeling it could go a little bit lower. and vis a vis, gold i woul
. >> i think what people are forgetting here is that the fed, the ecb, the bank of france would like to see gold prices lower, bank of china on the other hand, i suspect would like to see gold prices trading higher. the monetary authorities in the west would much prefer to see a much lower gold price. it would send a signal good, bad and indifferent that their policies are doing the right thing. they're not going to be sponsors of stronger gold prices, sri lanka may be, china will be,...
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Apr 30, 2013
04/13
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. >> the ecb waiting in the wings. we'll be closely watching. we'll bring in steve who has that part of the story and whether the traders are reading this whole thing correctly. i think it is a fair question to ask whether risk is really at risk, whether the rally peters out because stocks don't cooperate. >> you know, we did our fed survey, which is out today. and i'm seeing a good conversation happening between markets and the federal reserve. one thing i'd like to see, i'd like to see the feds stop tweaking communications now. i think it's kind of working. what happened over the intermediate period, they pushed ahead their timing for when the fed is going to start to taper, when the fed will stop qe. in a wave that seemed commensurate with the economic data. that's the first thing that happened. the second thing is that the market seems to be correctly counting on fed stimulus. and i don't see a need to really tweak it, even though the fed seems to be in this endless communication tweaking pattern here. >> what happens if the communications s
. >> the ecb waiting in the wings. we'll be closely watching. we'll bring in steve who has that part of the story and whether the traders are reading this whole thing correctly. i think it is a fair question to ask whether risk is really at risk, whether the rally peters out because stocks don't cooperate. >> you know, we did our fed survey, which is out today. and i'm seeing a good conversation happening between markets and the federal reserve. one thing i'd like to see, i'd like...
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Apr 23, 2013
04/13
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germany returned to expansion in the first quarter raising hope that the ecb was crawling out of its hole and is by mid year we would see some stabilization. with germany turning down, the rest of the region in collapse, it's not looking like an interesting picture. >> we're looking at the stoxx 600 up 0.4%. even though the euro is down significantly. this seems to imply the ecb may have to come in here. >> the ecb have said they're happy to -- to deteriorate. they may say, well, look, it's signs of stabilization there so let's wait and see. so it's an easy one to call. i suspect they might focus more on some of the other indicators, but in the pmi think that new orders growth which is deteriorating at a faster rate suggesting that momentum if anything is going in the wrong direction, not improving. >> what about on a country by country level, besides germany been any others that are particularly notable? >> well, yes. france is interesting because the numbers rose. it's still in a steep rate of decline and it's in a much worse situation than the bank of france suggests the economy fr
germany returned to expansion in the first quarter raising hope that the ecb was crawling out of its hole and is by mid year we would see some stabilization. with germany turning down, the rest of the region in collapse, it's not looking like an interesting picture. >> we're looking at the stoxx 600 up 0.4%. even though the euro is down significantly. this seems to imply the ecb may have to come in here. >> the ecb have said they're happy to -- to deteriorate. they may say, well,...
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Apr 23, 2013
04/13
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traders are eagerly awaiting for the ecb meeting next week. >> a look at the markets by the numbers now. in frankfurt, the dax up 2.5 points. the euro stoxx 50 up just over 3% to 23662. -- 2662. the dow jones has about a 1% gain in the year rose slightly down to $1.2989. >> disappointing news for business travelers looking to speed up their trip from frankfurt to london. they're not to write longer for that direct cross-channel real connection. siemens will not be able to deliver the 10 high-speed trains by next year. >> the german engineering giant a admits they underestimated the complexity of the system. it only adds fuel to the fire. >> they're waiting for trains that siemens promised them years ago. euro star was due to receive 10 trains at the end of 2014. that date has been pushed back and a new one is yet to be announced. siemens is blaming the delay on the number of different safety systems used by trains travelling internationally. from amsterdam to london, trains have to switch back and forth between six signaling systems. train travel in germany has also affected. 16 ice's t
traders are eagerly awaiting for the ecb meeting next week. >> a look at the markets by the numbers now. in frankfurt, the dax up 2.5 points. the euro stoxx 50 up just over 3% to 23662. -- 2662. the dow jones has about a 1% gain in the year rose slightly down to $1.2989. >> disappointing news for business travelers looking to speed up their trip from frankfurt to london. they're not to write longer for that direct cross-channel real connection. siemens will not be able to deliver...
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Apr 30, 2013
04/13
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it's put up or shut up time for the ecb. austerity is failing miserably. i actually think if ecb cuts rates, the euro is going to go down. i think that may be the knee jerk reaction. but i think actually if they don't cut rates, the euro is going to go down on the assumption that there is nothing to look forward to in the eurozone. there is no chance for recovery. so them cutting rates will probably create a small down draft in the euro, but then it will probably rally on the sumg that it will ease stimulus. >> so it was the most -- you know, you said that as if it hadn't happened. it was the most commercially successful of all the godzilla films, godzilla versus king kong. in the japanese ending, godzilla won. and in the ending of the film we showed here, king kong won. king kong is american and godzilla was -- >> it was spanish. >> 1962 released here -- he wasn't really from america. we stole him from africa. but then he climbed the empire state building, therefore ever associated him with the united states. >> but the movie was really from here. and then
it's put up or shut up time for the ecb. austerity is failing miserably. i actually think if ecb cuts rates, the euro is going to go down. i think that may be the knee jerk reaction. but i think actually if they don't cut rates, the euro is going to go down on the assumption that there is nothing to look forward to in the eurozone. there is no chance for recovery. so them cutting rates will probably create a small down draft in the euro, but then it will probably rally on the sumg that it will...
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Apr 4, 2013
04/13
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also, we are looking for the ecb today and the boe. the market is going to focus on that. on facebook, they are holding an event on a new android phone. it's a cell phone made by htc, but integrate facebook on it. facebook's revenue from applications in mobile. >> mark zuckerberg said they don't need a cell phone. obviously, he's changed his mind. >>> more trouble for the carnival cruise ship, triumph. they left passengers on board with few resources and fewer toilets. you probably remember the ship was towed in dramatic fashion, if that's possible at the miles per hour to the port in mobile, alabama, where it's stayed. yesterday afternoon, wind gusts of 66 miles per hour broke the triumph from the moorings and went adrift for hours. you saw the gash. it slammed into another boat leaving a gash in the stern. 600 crew and 200 contractors were on board at the time. no one was hurt. the wind blew over a guard shack sending two people in the water. one was rescued, one reported missing. >>> the change behind the "tonight show" desk happened yesterday. jimmy fallon will take ov
also, we are looking for the ecb today and the boe. the market is going to focus on that. on facebook, they are holding an event on a new android phone. it's a cell phone made by htc, but integrate facebook on it. facebook's revenue from applications in mobile. >> mark zuckerberg said they don't need a cell phone. obviously, he's changed his mind. >>> more trouble for the carnival cruise ship, triumph. they left passengers on board with few resources and fewer toilets. you...
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Apr 26, 2013
04/13
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so i don't know that the ecb, other than one-day trade, is going to affect our markets. t now, it's about, can we turn this thing around, get revenues going again. because the earnings cuts can only go so far. look at gold, i think it's telling you to take caution. long-term, buy equity. >> did the gdp report tell us anything today? i know it was below expectations at 2.5%. however, it's much better than what we saw last time, which was 0.4%. >> it tells us that we're better than a crisis. it tells us we're coming out of maybe a short-term interim pullback, but we're not there yet. and i think we have to all put this in perspective as to where the market is today. we're 130% above the bottom. >> next week, rick said next week, it's a very busy week with economic data. but let's not discount the sell in may and goaway. for many years, professionals spoke about sell in may and go away. but the last couple of years, it really worked. european debt woes came to fruition, and now people on main street are talked about it. so as we turn the calendars over next week, let's not d
so i don't know that the ecb, other than one-day trade, is going to affect our markets. t now, it's about, can we turn this thing around, get revenues going again. because the earnings cuts can only go so far. look at gold, i think it's telling you to take caution. long-term, buy equity. >> did the gdp report tell us anything today? i know it was below expectations at 2.5%. however, it's much better than what we saw last time, which was 0.4%. >> it tells us that we're better than a...
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Apr 1, 2013
04/13
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as long as the ecb is effectively the back stop they've been, i think europe can continue to muddle along, eventually come out of its recession. but the u.s. will remain relatively immune because a lot of the growth in the u.s. we expect to be domestic-driven. >> nathan, we're heading into the second quarter after a stellar first quarter for the markets. what are you telling your clients to invest in right now? >> i like large cap growth. when i took a look at con edison, which gives you electricity to power your set, and they're selling at 16 times earnings, and i take a look over at some very large multinational corporations here that are selling as a group, large cap growth, selling at a group at about 25% discount to its traditional p/e ratio, i say one of the first thing an investor can do to improve their portfolio without put mortgage money in stocks is to move some money over, if they made money in small caps, if they made money in mid caps, move it over to large cap growth. that's what i would do on the stock side. and on the bond side, i would shorten up my duration, which is th
as long as the ecb is effectively the back stop they've been, i think europe can continue to muddle along, eventually come out of its recession. but the u.s. will remain relatively immune because a lot of the growth in the u.s. we expect to be domestic-driven. >> nathan, we're heading into the second quarter after a stellar first quarter for the markets. what are you telling your clients to invest in right now? >> i like large cap growth. when i took a look at con edison, which...
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Apr 23, 2013
04/13
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the ecb could loan some money. melissa: that is an interesting perspective. we are quite bullish on the u.s. economy. we are positive. thinking would be good. this will account for some of the assets. melissa: thank you so much for coming on. lori: we have some updated news for the housing market today. rising 1.5%. that is just shy of the estimates. the pace has increased by 18.5% from year ago. bonuses are getting smaller. they are caving to regulators and scaling back bonuses. the trade journal said the fed started calling banks last year about compensation plans. jon corzine facing a lawsuit now over the collapse of mf global. he is being sued by louie freed. the lawsuit alleges that corzine engaged in risky trading practices. melissa: a vote of confidence and a big check. amanda richman of necks on why the media firm has agreed to spend hundreds of millions of dollars on ad. lori: whether or not it is too late to get in on action. melissa: today, the winners are the bears. you can see it is down about six tenths of a percent. silver getting hit the hardes
the ecb could loan some money. melissa: that is an interesting perspective. we are quite bullish on the u.s. economy. we are positive. thinking would be good. this will account for some of the assets. melissa: thank you so much for coming on. lori: we have some updated news for the housing market today. rising 1.5%. that is just shy of the estimates. the pace has increased by 18.5% from year ago. bonuses are getting smaller. they are caving to regulators and scaling back bonuses. the trade...
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Apr 18, 2013
04/13
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that deflated all year, really, since the ecb announced open market transactions. that pumped gold up for the past few years was quantitative easing one, two, and three. bernanke's latest fed minutes said they could start doing flexible purchases if the economic outlook continues to improve. so the two main fundamental fantastics that were supporting gold has diminished. >> in other words, less qe. >> less qe and sovereign has gone away. so the collapse in gold is fully justified. >> i've got a question for you, bob, but let me ask jeff. they're raising their targets. you've been cautious on this market anyway, and we have seen something of a change in market psychology, just this week, with this herky-jerky consecutive triple-digit days for the market. >> correct. and i admire bob's optimism for raising his target, but i still have some concerns. break down into a couple things here. look at where the rally has come from, it's come from defensive sectors. we've brought in those health care stocks, 18% higher in such a short period of time. how far can you ride tha
that deflated all year, really, since the ecb announced open market transactions. that pumped gold up for the past few years was quantitative easing one, two, and three. bernanke's latest fed minutes said they could start doing flexible purchases if the economic outlook continues to improve. so the two main fundamental fantastics that were supporting gold has diminished. >> in other words, less qe. >> less qe and sovereign has gone away. so the collapse in gold is fully justified....
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Apr 4, 2013
04/13
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mario draghi from the ecb, he talked and said the risks are to the downside now.t there's still economic weakness, and you can see what that did for the markets. right now i'm sticking to the idea that global weakness is trumping reflationary trade in japan. >> any thoughts, bob, on your anticipation of the jobs number tomorrow? that should set the tone, obviously. what are folks saying about it in terms of the number and what we might expect? >> private sector job growth. that's going to be the key. it was well over 200,000 in the last one. if we get below 205, 210, that's where the estimates are. this is private sector, not total. if it goes below 200, we've got big problems. the risks are to the downside. this will be the fifth weak economic number if we get one tomorrow morning, the fifth one we've had this weekend. don't want to see that. 8:30 a.m. tomorrow morning, we'll see that number. >> 15 minutes before the closing bell sounds, we've got a market that is holding on to the gain right here, up about 43 points. >> he may be known as dr. doom, but nouriel r
mario draghi from the ecb, he talked and said the risks are to the downside now.t there's still economic weakness, and you can see what that did for the markets. right now i'm sticking to the idea that global weakness is trumping reflationary trade in japan. >> any thoughts, bob, on your anticipation of the jobs number tomorrow? that should set the tone, obviously. what are folks saying about it in terms of the number and what we might expect? >> private sector job growth. that's...
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Apr 6, 2013
04/13
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market's down, although there are no measures that have been announced because of cyprus and also the ecb director did not tell what he wants to do if there are similar crises like in cyprus. this all drag the market down. the dax is nearly unchanged at the moment. euro stoxx 50 also not change. prices bottomed out after wall street started in positive territory. also, the euro is recovering and stays above $1.28. >> thank you very much for bringing us up to date. >> we will be back after a short break with the latest on a controversial neo-nazi child to be under way shortly in munich. >> we also have some champions league soccer action for you. do not go away. >> stay with us. >> welcome back. the controversy surrounding it upcoming the enough to trial in munich continues to grow. the only survivor of a right- wing gang accused of killing nine immigrants will stand trial. most of the victims were turkish. >> yet, turkish media were denied accreditation to cover the case. the court said all the spots were filled, but the turkish government is demanding that munich officials rethink their
market's down, although there are no measures that have been announced because of cyprus and also the ecb director did not tell what he wants to do if there are similar crises like in cyprus. this all drag the market down. the dax is nearly unchanged at the moment. euro stoxx 50 also not change. prices bottomed out after wall street started in positive territory. also, the euro is recovering and stays above $1.28. >> thank you very much for bringing us up to date. >> we will be back...
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Apr 15, 2013
04/13
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a president of the ecb step in and saying you sell your gold reserves. european zone saying you use your gold reserves to solve your problem, that will put pressure on gold. stuart: no action from north korea, china slowing down, that doesn't seem to be the point. i think it is the europeans pushing the week nations to sell off their gold. i had a shock when i came in this morning and saw that. let's go to the big board, the stock market, gold way down, down only half a percent, nothing like a huge percentage drop building up some steam, i see. $13.94. off about $104 per ounce. losing some steam as we speak. that is the headline of the morning. i wants to stay with stocks for a moment, caterpillar, i'm sure that the stock is down because the stock is slowing. >adam: after china's gdp estimates. the first quarter came 7.7%, analysts reckon 8% so caterpillar taking a hit, period crediting swiss having ranking them outperform but lowering the target from $123 a share down to $110. closer to $85 roughly pulling the dow down by the weight dow jones industrial
a president of the ecb step in and saying you sell your gold reserves. european zone saying you use your gold reserves to solve your problem, that will put pressure on gold. stuart: no action from north korea, china slowing down, that doesn't seem to be the point. i think it is the europeans pushing the week nations to sell off their gold. i had a shock when i came in this morning and saw that. let's go to the big board, the stock market, gold way down, down only half a percent, nothing like a...
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Apr 5, 2013
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market's down, although there are no measures that have been announced because of cyprus and also the ecb diriririririririrector did el if there are i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i in this all neay unchanged at the moment. euro stoxx 50 not change. prices bottomed out after wall street started in positive territory. also the euro is recovering and stayssssssssssssssssssssss >> we will be back after a short wi t t t t t t tneo-na childldobe under way s s shohohohohohohohohohohohohohohohortlylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylylyly.>> we also have some champions league soccer action for you. do not go away. >> stay with us. >> welcome surroundingngngngngngngngngngngngngngngngngngngngngngngngngngngngngngngngngngng it upcoming the e e emunich continues to grow. the only survivor of a right- wing gang accused of killing niniial. most of the victims were turkish. media wereee case. the court said all the spots were filled, but the turkish government is demanding that munich officials re
market's down, although there are no measures that have been announced because of cyprus and also the ecb diriririririririrector did el if there are i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i in this all neay unchanged at the moment. euro stoxx 50 not change. prices bottomed out after wall street started in positive territory. also the euro is recovering and stayssssssssssssssssssssss >> we will be back after a short wi t t t t t t tneo-na...
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Apr 8, 2013
04/13
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oh, my gosh, the bank of japan just declared war on the ecb. he said that. awe stimulus is spongeable who said that? i did. we're going to reconcile the two. and i asked him if he was to saver in japan what would he do? here's what i would do. you know what that means? sell, sell, sell. come back in about two minutes. >>> the bank of gentleman ban executed its first government bond buying operations after announcing the new easing policy last week. let's get to rick santelli in chicago with some more thought on that. hey, rick. >> hi, krl. watch out, he's saying he feels piffy today. why did you say that when the announcement came through, you said, boj just declared war on the ecb. very simple terms, tell our viewers exactly -- this isn't about comedy. you believe this. tell us what you're thinking. >> look it, we're talking about the bond buying program in japan. 97%, 95% of all bonds are owned by japanese insurance companies, japanese banks, and japanese private citizens. unlike here. rates of 55 basis points and you're telling me you're tryi
oh, my gosh, the bank of japan just declared war on the ecb. he said that. awe stimulus is spongeable who said that? i did. we're going to reconcile the two. and i asked him if he was to saver in japan what would he do? here's what i would do. you know what that means? sell, sell, sell. come back in about two minutes. >>> the bank of gentleman ban executed its first government bond buying operations after announcing the new easing policy last week. let's get to rick santelli in chicago...
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Apr 2, 2013
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unfortunately i have to completely agree with him on the ecb. e promise that the ecb will intervene conditionally into government bond markets essentially boxes them in. then it means they don't want to intervene unconditionally. they have sort of limited themselves. so i think it is a very fair perspective jacob says. i think also, you really do want to listen to him as everyone here is known to listen to him and fred, anders, and nicks nicholas on the european politics that things are more stable but i have to push back one little bit. the fact that things are politically supportable or sustainable does not mean they're optimal or nice and jake, i'm not accusing jacob of saying that. we have to recognize you could have ongoing, 30, 40% youth unemployment in many countries doing lasting damage to the supply capacity. to their future prospects. and yet, not change the current government regime. if you think about it, you have a world where this is after world war ii. we have constitutions in place in europe, specifically to keep out radical parti
unfortunately i have to completely agree with him on the ecb. e promise that the ecb will intervene conditionally into government bond markets essentially boxes them in. then it means they don't want to intervene unconditionally. they have sort of limited themselves. so i think it is a very fair perspective jacob says. i think also, you really do want to listen to him as everyone here is known to listen to him and fred, anders, and nicks nicholas on the european politics that things are more...
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next week we will have the ecb meeting. we know what the japanese are doing.ght now markets are on wait and hold. let's go over to chicago. hi, rick. >> i like what you said. everybody wonders with all of these programs and the rules of the game for picking stocks. maybe that makes it very real like everybody else. this week two charts summarize the entire week. going to be the lowest yield close but the other one might be a surprise. in the european union. that's the uk. the pound has a huge week. best close since february. i think we need to apay tension to how their economy does and post the good number that they had yesterday. >> thank you so much for that. i just want to remind everybody that we are in the middle of the 2013 cnbc stock drop. right now in the war room, the mavericks. my team is there discussing which is going to be their first stock pick i'm going to leave them to it and let them concentrate and get back to the gang here. >> how are you? >> james. very formal. >> it is a special day. >> herbert greenberg. >> andç amanda drewry. what do yo
next week we will have the ecb meeting. we know what the japanese are doing.ght now markets are on wait and hold. let's go over to chicago. hi, rick. >> i like what you said. everybody wonders with all of these programs and the rules of the game for picking stocks. maybe that makes it very real like everybody else. this week two charts summarize the entire week. going to be the lowest yield close but the other one might be a surprise. in the european union. that's the uk. the pound has a...
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Apr 29, 2013
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in terms of fixed income, nothing speaks to the idea of the ecb in central bank and bank of japan better than the following chart. don't be surprised to see a 166. back to you. >> thank you very much. okay. let's take a look at where the market is going. where do we go after that. >> it would seem to be that the path of least resistance is still higher. >> of course i would suggest that. there is certainly a lot to it. if you look at the leading sectors, you're looking at the names and kinds of companies that are leading the market higher. i get the sense that there are a lot of unfom courtable eeoc equitable buyers. >> the argument is that stocks will continue to trade higher as long as the fed programs remain in place. i think simon mentioned it earlier. seems like we're in this goldy locks period again. so i think there is a lot to be said. >> that is a classic case of bad news. i would like to break it down and take a look at what you would do in terms of investing. is it time to get in. >> we have a pretty dramatic underweight we now have a punch of new supply. we track that relativ
in terms of fixed income, nothing speaks to the idea of the ecb in central bank and bank of japan better than the following chart. don't be surprised to see a 166. back to you. >> thank you very much. okay. let's take a look at where the market is going. where do we go after that. >> it would seem to be that the path of least resistance is still higher. >> of course i would suggest that. there is certainly a lot to it. if you look at the leading sectors, you're looking at the...
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it's the fed, it's the ecb, and the boj, a global e qitty push.ook a the underlying part of the market is you get multiple expansion. the growth side is not doing great. it's defensive, dividend stocks, and globally, people put money to work, what the fed wants them to do, take risk. lou: we've got a number of shorts out there pushing hard, talking about, you know, 12 mc% unemployment in the eurozone. talking about this -- fifth year of the tired old bull market. things have got to drop, and the only question is by how much? 20%? 10% your thoughts. >> last year, we had event risks, existential crisis in europe, the legs in the u.s., and so you had this tail rsk in the market. it doesn't exist this year. two minor runs, italian elections and cypress crisis. they have come and gone and will be solved. there's not a lot of big events out there. lou: what do you see the rest of the year? >> i literally see markets don't go straight up forever so there's some corrections, but broadly thinking, take out the highs, usually when markets take out highs, th
it's the fed, it's the ecb, and the boj, a global e qitty push.ook a the underlying part of the market is you get multiple expansion. the growth side is not doing great. it's defensive, dividend stocks, and globally, people put money to work, what the fed wants them to do, take risk. lou: we've got a number of shorts out there pushing hard, talking about, you know, 12 mc% unemployment in the eurozone. talking about this -- fifth year of the tired old bull market. things have got to drop, and...
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it's the ecb, it's the boj, it's a global liquidity push. if you look at underlying market, you have multiple expansion. the growth side isn't doing great. it's dividend stocks. globally people are putng money to work. they're doing exactly what the fed wants them to do, they are taking more risks. >> we have a number of shorts out there, pushing hard, talking about 12% unemployment and the euro is down. they're talking about this rhythm, the fifth year of this tired old bull market. things have to drop. the only question is by how much. will b it be 20% or 10%? what's your thoughts. >> you had the election in the u.s. last year so you had tail risk in the market. it doesn't exist this year. we had two minor ones, the italian elections and and the cs crisis. those are gone. not a lost big events out there. >> lou: what do you see he for the rest of the year? >> i literally see the markets don't go straight up forever. there will be some corrections, but we're going to take out these highs. usually when markets take out highs, they put a new
it's the ecb, it's the boj, it's a global liquidity push. if you look at underlying market, you have multiple expansion. the growth side isn't doing great. it's dividend stocks. globally people are putng money to work. they're doing exactly what the fed wants them to do, they are taking more risks. >> we have a number of shorts out there, pushing hard, talking about 12% unemployment and the euro is down. they're talking about this rhythm, the fifth year of this tired old bull market....
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Apr 1, 2013
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we call it central bank, and the ecb and the bank of japan meetings and he will will ensure the depositorsg is safe on the insured levels and the probability that anybody will need money above that will will be very small. he'll be assuring people that he will provide liquidity for sound banks and watch for that phrase, sound or structurally sound bank. he will go to great lengths on that. everybody has been short the yen. it's the biggest trade in the floor, and the new head of the bank of japan will tell everybody that they have not anticipated. the yen is down, what? 15% so far this year? the nikkei is up 38% since the beginning of november. don't you think there might be a yen rally on thursday just in anticipation or its sell on the news kind of thing? that's what i heard over the weekend. we'll see if that actually happens. meantime, see what's going on in china. lowest levels of the year in the shanghai composite, down another couple of percent this year. the chinese p, mi, and it was below the consensus that people thought. we've also seen an increase in home sales as people get in
we call it central bank, and the ecb and the bank of japan meetings and he will will ensure the depositorsg is safe on the insured levels and the probability that anybody will need money above that will will be very small. he'll be assuring people that he will provide liquidity for sound banks and watch for that phrase, sound or structurally sound bank. he will go to great lengths on that. everybody has been short the yen. it's the biggest trade in the floor, and the new head of the bank of...