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ProShares Ultra Euro ETF (ULE)

  • Mar. 8, 2012, 9:22 AM
    Draghi press conference: Addressing concern there's been a break between the ECB and the Bundesbank, Draghi says the vote on going forward with the LTRO was unanimous. "I don't think the Bundesbank is isolated ... (it) has never been alone in its views."
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  • Mar. 8, 2012, 9:05 AM
    Draghi takes a detour to address ideas the ECB is the loosest of the major central banks. He claims the makeup of banks' assets distorts the figure and the way he sees it, the BoE and the Fed are far looser and have greater balance sheet risk than the ECB.
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  • Mar. 8, 2012, 8:54 AM
    Draghi press conference: "Money market funds are starting to return, and they were the first to fly away," says Draghi, calling the LTROs an "unquestionable success" that has removed tail risk. LTRO 3? The "ball in is the court of the governments and banks" to support the recovery.
  • Mar. 8, 2012, 8:42 AM
    Draghi press conference: The euro shorts get fried early as Draghi comes out talking about inflation. He says it is likely to stay over 2% for the rest of 2012, and constitutes a key downside risk for the EU economy. The euro jumps to the day's high, +0.9% at $1.3270.
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  • Mar. 8, 2012, 8:30 AM
    ECB President Mario Draghi's press conference begins momentarily. Earlier the bank left policy unchanged. It's been posited Draghi will use today's Q&A to hint the ECB has done enough for the moment and its raft of emergency programs is on hold for now. Watch live here.
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  • Mar. 8, 2012, 7:45 AM
    The ECB leaves policy unchanged, its benchmark rate remaining at 1%. President Draghi's press conference begins at 8:30 ET.
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  • Mar. 7, 2012, 3:36 PM
    The ECB is not expected to cut its benchmark rate from 1% at its policy meeting tomorrow. Further, President Draghi may signal the bank has done enough lifting, and no further special operations are in store. Near-term liquidity issues may have been addressed, but the still-weak EU economy may force Mr. Draghi into more action before long.
  • Mar. 7, 2012, 11:09 AM
    Bloomberg calculations show Greece with a 58% participation rate for its PSI so far. Key levels to breach: 66% in order for any sort of debt swap (and subsequent bailout) to go through, 75% is the government's goal, 95% the level at which CACs may not have to be activated.
  • Mar. 6, 2012, 1:35 PM
    France throws its support behind Luxembourg's Yves Mersch for a seat on the ECB's executive board, say sources, switching from backing Spain's Antonio Sainz de Vicuna. The move could tilt the balance towards the hawks at a time when they look with growing concern upon the wave of money unleashed over Europe.
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  • Mar. 6, 2012, 12:43 PM
    The Bundesbank looks on in worry as the ECB's easy money policies have spurred not just inflation (2.7%), but a real estate boom in perennially sluggish Germany. "The housing market is being swept clean," says Pimco's Andrew Bosomworth, as low real rates and easy loans put Germany where Spain and Ireland were 10 years ago.
  • Mar. 6, 2012, 10:25 AM
    The ECB balance sheet gives Apple's chart a run for the money, passing €3T for the first time and bringing that bank's assets as a percent of GDP to 1st place in the race with the Fed, BOJ, and BOE to see which can create the most currency. The euro (FXE) somehow remains higher (1.3%) YTD vs. the dollar.
  • Mar. 6, 2012, 8:33 AM
    Eurozone Q4 exports -0.4% Q/Q, stripping 0.2 percentage point from GDP, imports -1.2%. Household spending, government expenditure and business investment also fall. The GDP breakdown is worrying "as it shows widespread weakness," says economist Howard Archer. The EC's Olli Rehn predicts "a turning of the tide."
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  • Mar. 6, 2012, 7:12 AM
    Today's ECB refinancing operation (7-day maturity as opposed to the 3-year LTROs from December and February) has a take-up of just €17.5B. It's the lowest amount ever - suggesting with all the 3-year cash floating about, EU banks have no desire for short-term money.
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  • Mar. 5, 2012, 12:36 PM
    The EC calls Spain's declaration it will miss its 2012 budget target a "serious, grave" deviation, but the Spaniards are defiant and the rebellion has begun. "I cannot remember such a bold and open act of defiance by any state," says Ambrose Evans-Pritchard. "As for the 'Fiscal Compact,' it is rendered a dead letter by Spanish actions."
  • Mar. 4, 2012, 9:07 AM
    Greece is on course to default, as it looks set to fall short of the 95% agreement it needs from private creditors to secure its bond swap, The Daily Telegraph reports. Athens is ready to use collective action clauses (CAC) to impose the deal if it receives 66% approval, which is likely to prompt ratings agencies and the ISDA to declare default.
  • Mar. 2, 2012, 11:53 AM
    European shares close mixed in quiet trade following today's summit of EU leaders. Stoxx 50 -0.1%, Germany -0.4%, France flat, Italy +0.5%, Spain +0.1%, U.K. -0.4%. The euro continues to slide, -0.9% to $1.3194, and off more than 2% from midweek - just about the time folks were getting bullish on the currency again. Go figure.
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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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