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ProShares Ultra Euro ETF (ULE)

  • Mar. 30, 2012, 12:12 PM
    The Bundesbank will no longer accept bank bonds from Ireland, Greece, and Portugal as collateral, the first EU central bank to exercise this right recently granted by the ECB. The Buba currently has €500M of the paper pledged to it and will spend the next weeks notifying banks that new arrangements will be necessary.
    | Mar. 30, 2012, 12:12 PM | 4 Comments
  • Mar. 30, 2012, 7:50 AM
    The dollar performs a full LoBagola in March, rising sharply through mid-month, but returning today right back to its starting point. Key to the turnaround were quick reversals in yen and euro weakness, likely helped by just a bit of wobble in risk markets and Fed chatter being interpreted as more easing on the way.
    | Mar. 30, 2012, 7:50 AM | Comment!
  • Mar. 30, 2012, 5:41 AM
    Eurozone finmins are meeting today in Copenhagen, where they're expected to agree to increase the eurozone's firewall, although Finland's Jutta Urpilainen says the projected figure of €940B is too high. The Irish want €1T. Either way, more of the money could be needed for Greece, whose PM, Lucas Papademos, admits may require a third bailout.
    | Mar. 30, 2012, 5:41 AM | 3 Comments
  • Mar. 28, 2012, 12:55 PM
    German companies' sentiment towards the euro "returned unambiguously into negative territory" in March, according to a Commerzbank survey. Euro bears rose 10 points to 36%, says the bank, which notes the exporters it surveys have - in the past - had good predictive abilities going out 90 days.
    | Mar. 28, 2012, 12:55 PM | 2 Comments
  • Mar. 28, 2012, 11:26 AM
    Yields on Portugal's 2-year paper fall for a 10th consecutive day, the longest winning streak in 3 years as optimism returns (even as it leaves Spain and Greece). The yield on the 2-year note of 9.37% is the lowest since last April, and sharply below 20%+ hit earlier this year.
    | Mar. 28, 2012, 11:26 AM | Comment!
  • Mar. 28, 2012, 11:19 AM
    "Just like the 'Tower of Babel,' the 'Wall of Money' will never reach heaven," says Bundesbank chief Jens Weidmann, sounding like a good German central banker as he warns the ECB's easing actions and the EU firewall only create new problems. He brushes off claims austerity will hurt growth as exaggerated, and says "there is little alternative" in any case.
    | Mar. 28, 2012, 11:19 AM | Comment!
  • Mar. 28, 2012, 7:44 AM
    Ahead of elections expected (but not yet scheduled) in about a month, fringe parties in Greece - ranging from Communists to neo-Nazis - are registering 50% in polls. The political establishment - New Democracy and Pasok - are at just 35-40% vs. the combined 75% of the vote won in 2009. "A recipe for chaos," says a political consultant. (see also)
    | Mar. 28, 2012, 7:44 AM | 7 Comments
  • Mar. 28, 2012, 7:04 AM
    As European politicians and central bankers wear out their arms patting themselves on the back, firms and consumers continue to pull their money out of Greece, private sector bank deposits falling 2.7% in February. At €170B, the level is the lowest since 2006 and 30% below the December 2009 peak.
    | Mar. 28, 2012, 7:04 AM | Comment!
  • Mar. 27, 2012, 8:48 AM
    The likelihood of a euro break-up remains low, says Fitch, concluding the costs of such would be too great, plus the LTRO has saved the day for now. Despite the conventionality of the conclusions, the agency's Eurozone Sovereign Snapshot is a handy report, covering in some detail each of the euro states. (full .pdf)
    | Mar. 27, 2012, 8:48 AM | 4 Comments
  • Mar. 26, 2012, 12:05 PM
    European shares close mostly higher, given a boost midday by Bernanke's dovish speech. Spain was the exception after weekend elections dealt a blow to the country's ruling party and its austerity plans. Stoxx 50 +0.7%, Germany +1.2%, France +0.7%, Italy +0.8%, Spain -0.8%, U.K. +0.8%. Euro +0.4% to $1.3324.
    | Mar. 26, 2012, 12:05 PM | Comment!
  • Mar. 26, 2012, 8:39 AM
    The greenback is lower across the board on Bernanke's comments, currently being interpreted as a signal there are going to be a lot more of them floating about. Getting the biggest boost is the commodity-dependent aussie (FXA), +0.5% to $1.0520. UUP -0.25% premarket.
    | Mar. 26, 2012, 8:39 AM | Comment!
  • Mar. 25, 2012, 6:00 AM
    The cost of a Greek exit from the euro would be €500B-€1T, writes The Daily Telegraph in a review of how it might occur and its impact. The main issues include whether to denominate Greece's debts in its new currency, which would probably sharply devalue once floated. Another major concern is contagion to banks in the periphery.
    | Mar. 25, 2012, 6:00 AM | Comment!
  • Mar. 23, 2012, 2:46 PM
    Apparently a move to placate the Germans, the ECB unexpectedly raises the standards on the collateral it will take from banks as security for loans. EU central banks will now be able to reject as collateral bonds issued by governments in the midst of aid programs or with very low credit ratings. Novel stuff.
    | Mar. 23, 2012, 2:46 PM | 2 Comments
  • Mar. 21, 2012, 8:21 AM
    Spain is at greater risk of default than ever before, Citi's Chief Economist Willem Buiter tells Bloomberg Radio. His remarks may be having an effect on the euro, which is pulling back even more from big early gains, now flat at $1.3224. Spain also red now, -0.3%. (listen live here)
    | Mar. 21, 2012, 8:21 AM | 2 Comments
  • Mar. 16, 2012, 9:29 AM
    The growth outlook for the eurozone has deteriorated over the past 3 months, says Ernst & Young in its Spring quarterly forecast, now expecting 2012 GDP to contract 0.5%. Among the individual countries, Ireland's GDP is expected to fall 0.1% against a previous forecast of +0.5%. (full report)
    | Mar. 16, 2012, 9:29 AM | 3 Comments
  • Mar. 16, 2012, 9:15 AM
    "Now is a good time to invest in distressed and undervalued European assets, euro debts and euro bonds," writes former Singapore PM Lee Kuan Yew. The view is a change of heart for Mr. Lee, as recently as September opining about the euro's structural issues and the profligacy of Western governments.
    | Mar. 16, 2012, 9:15 AM | 2 Comments
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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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