The Queen Of Spades

“Luck is believing you’re lucky.” – Tennessee Williams While enjoying a much-needed short break from blogging, hence our uncommon silence, we still managed to follow the macro news such as February’s anemic 20,000 new jobs creation in the United States from the latest nonfarm payroll report (when 180 K was expected). With global negative yielding…

Poor EMU PMI Compounds ECB’s Challenge

Overview: The eurozone’s preliminary composite PMI for January fell to its lowest level since July 2013. It reinforces expectations for a dovish Draghi press conference and saw the euro unwind yesterday’s gains. The US dollar is firmer against all the major currencies. Asian stocks gained, and the MSCI Asia Pacific Index snapped a two-day fall…

Why Should The European Union Be Nice To Great Britain?

“EU Ambushes Teresa May Over Brexit Plan.” So reads the headlines of the Financial Times, the day after Ms. May met with European leaders in Salzburg, Austria. She was told her economic plan for Brexit ‘will not work’ and gave her four weeks to save the exit talks. The day after, Ms. May responded that…

Refugees Fleeing To Spain Surpass Italy And Greece

As official action seeks to address the flood of refugees into Greece and Italy bite, the pressure has been deflected to Spain. According to the UN High Commissioner for Refugees, 24k undocumented refugees have entered Spain this year. There were 28.4k all of last year. Refugees going to Italy, by contrast, have fallen to about…