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ProShares Ultra Euro ETF (ULE)

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  • 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, 7:04 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.
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  • 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. 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.
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  • 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.
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  • 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.
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  • 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. 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. 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, 9:15 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, 8:42 AM
    Stock index futures move to session highs after a slower-than-expected CPI print eases this week's renewed fears of accelerating inflation. S&P 500 +0.3%. European shares are also at the day's highs, Stoxx 50 +0.5%. The most interesting move is the euro, spiking higher on the release, now +0.4% at $1.3124.
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  • Mar. 15, 2012, 10:53 AM
    The euro gets its tail in the air on comments from the ECB's Ewald Nowotny who says he sees no need for further central bank action and rate cuts are not a point of discussion right now. The ECB has done its job, he says, other players must do their part. FXE +0.4%.
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  • Mar. 14, 2012, 7:53 AM
    Euro area inflation remains at 2.7% Y/Y in February after a 0.5% monthly rise. One year ago, the rate stood at 2.4%.
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  • Mar. 13, 2012, 6:57 AM
    European shares, particularly Germany, move to new session highs following the big jump in economic sentiment. Stoxx 50 +1.1%, Germany +1.1%. Curiously for what has been a "risk" asset, the euro moves to session lows, -0.4% at $1.3110.
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  • Mar. 12, 2012, 11:07 AM
    While gasoline prices are percolating in the States, they haven't approached the $4.11 peak of July 2008 (granted, we haven't hit high summer demand yet). The same can't be said for Europe, where prices at the pump have taken out the record levels from that summer.
  • Mar. 9, 2012, 2:57 PM
    Markets show little reaction to what had been a pretty well-tipped event - the ISDA Determinations Committee deciding a credit event has occurred with respect to Greece. Shares remain modestly higher though continuing to leak oil from morning highs, the S&P 500 +0.4%. The euro remains sharply lower, -1.3% at $1.3106.
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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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