ProShares Ultra Euro ETF (ULE) - NYSEARCA
  • Dec. 30, 2011, 12:38 PM
    With trading desks barely staffed, someone has decided to run some stops in the currency market. The greenback takes a plunge over the past couple of hours against nearly every major currency, but particularly vs. the yen, the aussie, and the kiwi. The yen has now regained nearly all the ground lost when Japan intervened in late October to weaken it.
    | Dec. 30, 2011, 12:38 PM | 5 Comments
  • Dec. 29, 2011, 6:53 AM
    The euro returns to its lows of the year, sinking below $1.29 for the first time since the early days of January. Declines earlier this fall seemed to be correlated with risk - as European shares went, so went the euro. Of late, the euro's slide seems more about the realization that the ECB is papering the continent with them. Euro -0.5% and buying $1.2880.
    | Dec. 29, 2011, 6:53 AM
  • Dec. 28, 2011, 10:46 AM
    The euro continues its near freefall, hitting $1.2944, the lowest level since the first days of 2011 when it briefly fell below $1.29. Other risk currencies are down alongside, the British pound -1.3%; the aussie dollar, solidly higher minutes ago, -0.5% at $1.0107. European shares are at session lows, the Stoxx 50 -1.2%.
    | Dec. 28, 2011, 10:46 AM | 1 Comment
  • Dec. 21, 2011, 10:19 AM

    The slide in shares (I, II,) since the initial euphoria of the ECB's pre-Christmas generosity could be because EU banks will use the cash to pay loans that are due in 2012 rather than to buy sovereign debt. And even if banks want to underwrite government bonds, they will apparently not be able to because of EBA criteria.

    | Dec. 21, 2011, 10:19 AM
  • Dec. 16, 2011, 5:29 AM
    Will the ECB be carrying out QE on the sly with an ultra-long 3-year financing operation next week? One trader seems to think so, describing the manoeuvre as a "kind of like a QE backdoor." For traders, "It's like a no-brainer - you take the money at 1% and you buy Spain at 6-7%. That keeps supporting the periphery."
    | Dec. 16, 2011, 5:29 AM
  • Dec. 16, 2011, 5:21 AM
    Spanish 10-year bond yields are off another 26 bps following yesterday's strong debt auction, and even with the overhanging threat of a mass S&P downgrade for the EU. Italian 10 year yields are down 17 bps. Banks are looking forward to Tuesday's loan tenders from the ECB, where they will be able to pledge their sovereign holdings as collateral for low interest 3 year loans.
    | Dec. 16, 2011, 5:21 AM | 2 Comments
  • Dec. 14, 2011, 5:48 AM
    Italian 10-year bond yields are creeping back up in the secondary market following another terrible goverment auction. Yields are still -3 bps on the day at 6.657% but had fallen to 6.636%.
    | Dec. 14, 2011, 5:48 AM
  • Dec. 12, 2011, 12:04 PM
    In the wake of the Fitch statement, the euro touches its lowest point since early October, now at $1.3186. Any further fall will send the currency back to its level of last January, when it was on the rise as the Fed was in the midst of QE and the ECB was getting ready to tighten. FXE -1.4%.
    | Dec. 12, 2011, 12:04 PM | 1 Comment
  • Dec. 8, 2011, 11:23 AM
    The euro continues to slide, dropping below $1.33 for the first time since the Fed dollar swap line news last week, and continuing a major reversal from a big move higher this morning. The catalyst was Mario Draghi squashing hopes (for now) of an ECB bazooka. FXE -0.9%.
    | Dec. 8, 2011, 11:23 AM
  • Dec. 5, 2011, 12:46 PM
    Joe Weisenthal reckons the collapse in Italian bond yields is not just due to the country's €30B austerity, it's because "the market anticipates that after a fiscal compact is reached, the ECB will step in and backstop the whole thing." If so, and the ECB doesn't step in, it also means that what goes down could also go right back up.
    | Dec. 5, 2011, 12:46 PM | 1 Comment
  • Dec. 5, 2011, 10:37 AM
    Italian 10-year bond yields are now -71 bps to below 6%, with markets apparently buying into the government's austerity package and believing that Merkozy can save the eurozone. It's a remarkable fall from 7.365% less than two weeks ago. Spanish yields are -58 bps at 5.1%. Meanwhile, stocks are higher across both sides of pond.
    | Dec. 5, 2011, 10:37 AM | 2 Comments
  • Dec. 5, 2011, 6:20 AM
    Italian bond yields are -49 BPS at 6.188% following the government's new three-year, €30B ($40.3B) austerity plan, and amid yet more hope that yet another EU summit at the end of the week will finally produce that fabled silver bullet. Or as SocGen called it, "nuclear" policy action, specifically from the ECB.
    | Dec. 5, 2011, 6:20 AM | 1 Comment
  • Dec. 1, 2011, 11:49 AM
    The greenback and the euro quickly surge higher vs. the Swiss franc on a rumor the SNB is considering additional weakening steps, including the imposition of negative interest rates. FXF -0.3%.
    | Dec. 1, 2011, 11:49 AM
  • Nov. 28, 2011, 10:01 AM
    European shares leg up to new highs on the day, the broad Stoxx 50 +5%. The best performing market is France, +5.1%. The laggard is the U.K., +2.9%. The last rally of this sort was Oct. 27, before that, July 21 - both world-class selling opportunities. Will today be different?
    | Nov. 28, 2011, 10:01 AM
  • Nov. 25, 2011, 6:02 AM
    Yields sky-rocket to an average of 6.5% as Italy sells €8B ($10.7B) worth of 6-month bills, up from 3.35% in October, with the bid-to-cover ratio dropping to 1.47 from 1.57. In an auction of €2B worth of 2-year zero-coupon bonds, the yield soared to 7.814% from 4.628%.
    | Nov. 25, 2011, 6:02 AM | 2 Comments
  • Nov. 25, 2011, 3:02 AM
    German bunds stabilize as December futures rise 9 ticks to 135.14, while 10-year yields fall 2.5 bps to 2.169%. "Bunds are really just too cheap at the moment," says a trader. "The market is trading like it expects armageddon and equities are trading like they expect some sort of muddle through, but bunds are usually right."
    | Nov. 25, 2011, 3:02 AM
ULE Description
ProShares Ultra Euro seeks daily investment results, before fees and expenses, that correspond to twice (200%) the U.S. Dollar price of the Euro.
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