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FTG Blog - Europe's Butter Mountain Has Melted Away

Europe’s Butter Mountain Has Melted Away

Europeans are eating so much butter that the bloc’s stockpiles are nearly empty, adding to a rush of demand that has sent global prices skyrocketing. The star of the U.S. dairy market in recent years, butter costs have now soared to all-time highs in Western Europe and Oceania. The gains have been aided by shifting consumer views on its healthy attributes and a recent slowdown in the growth of global milk output. France’s Federation of Bakeries has called the price rise a “major crisis.” Read more

FTG Blog - Investors Scramble to Keep Pace With New Market Outlook

Investors Scramble to Keep Pace With New Market Outlook

For investors scrambling to keep pace with a hawkish shift in the world’s biggest central banks, the second half of 2017 just got a lot more interesting. Two weeks of rhetoric from policy makers in Europe and North America has rewritten the outlook for markets, with the Bank of England and the Bank of Canada now seen as more likely than not to join the Federal Reserve in raising rates before the year is out, based on overnight index swap rates. Even the possibility of a European Central Bank hike, once seen as all but impossible, is slowly growing. Read more

FTG Blog - French election relief sends Europe soaring

French election relief sends Europe soaring

Euro zone stocks headed for their best day in almost two years on Monday and the euro briefly vaulted to five-month peaks, after the market’s favored candidate won the first round of the French election, reducing the risk of another Brexit-like shock. The victory for pro-EU centrist Emmanuel Macron, who is now expected to beat right-wing rival Marine Le Pen in a deciding vote next month, sent the bluechip STOXX 50 index up 3.7 percent, France’s CAC40 over 4 percent and bank stocks up more than 6 percent.

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