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  • Editor’s Picks / 7 hours ago

    Opec cuts forecasts for rivals in 2016

    CNBC
    The question of whether Opec will budge on its own production remains unsettled – the cartel has certainly made no move in that direction thus far – but a new forecast from the 12-member group sees its rivals' oil output falling over the next 12 months. According to the cartel, non-Opec production is expected to fall by 700,000 barrels/day in 2016, 40,000 b/d less than was called for in Opec's January forecast. The projected decline comes as low oil prices knock shale, tar sands and other such producers out of profitability, particularly in the US and Canada. Opec also noted that "positive projected growth in the US economy and continued healthy growth in the road transportation sector" will likely be reflected by marginally increased demand over the next 11 months.
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  • Article / 8 hours ago

    Macro Digest: Yellen night – party time or house of horrors?

    Chief Economist & CIO / Saxo Bank
    Denmark
    Yellen will be trying to balance job growth with financial stress, which of course is impossible. Even if she does deliver a very dovish speech (which I don’t expect) the market may ignore her. The risk is that market sells off and retests 1,804.00 in the S&P 500 as the central banks’ place in the limelight is about to turn to dark.
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  • Article / 13 hours ago

    FX Update: Don’t envy Janet Yellen’s task today

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: Don’t envy Janet Yellen’s task today
    The USD weakness broadened yesterday as the market holds its collective breath on what Fed Chair Yellen has in store for us today. It feels like markets are on the edge of the abyss – can Yellen throw the markets a rope or has the Fed lost its mojo like the ECB and BoJ already have?
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  • Editor’s Picks / 20 hours ago

    Is Europe facing its own Lehman Brothers moment?

    The Telegraph
    A bad year for European banks just got a whole lot worse. The Euro Stoxx 600 Index of leading bank shares has lost nearly a fifth of its value in the past 30 days after a spectacular selloff on Monday. Ben Wright says that few have been spared. The share price of Barclays, BNP Paribas and Unicredit all slid around 5%, those of Deutsche Bank fell 10%, and the value of Greece’s three largest banks all slumped nearly 30% – from not very much to even less.
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  • Editor’s Picks / 21 hours ago

    Prepare for negative rates, just in case, says US Fed

    CNBC
    Negative interest rates in the US may seem like a far-fetched idea, but the Federal Reserve is telling banks to prepare, just in case. For the first time ever, the governing agency and US central bank is requiring banks to include, in a round of stress tests commencing this year, to prepare for the possibility of negatively yielding Treasury rates. The scenario is purely hypothetical and not a forecast, according to a January 28 Fed news release. However, the development is part of a larger scenario of a world where zero rates are morphing into negative rates.
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