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ProShares Ultra Euro ETF (ULE)

  • Apr. 12, 2011, 2:31 PM
    A delegation from the EC, ECB, and IMF touch down in Lisbon to pore over Portugal's financial situation in preparation for negotiations over the estimated €80B bailout package. However, it's unclear how much legitimacy the caretaker government has to actually agree to a deal. Elections are not until June 5.
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  • Apr. 12, 2011, 12:55 PM
    Former TARP czar Neel Kashkari, now parachuted into Pimco, doesn't see how the numbers add up, arguing the economies of Greece, Ireland, and Portugal simply cannot afford to service their governments' level of debt. With restructuring likely, the focus should be on how to do it without further contagion.
  • Apr. 12, 2011, 12:13 PM
    Ruling out any possibility of debt restructuring, EU President Van Rompuy tells the Greeks their Odysseus-like journey will have a happy ending. The next few years should tell which is stronger - EU bureaucrats or the power of compound interest.
  • Apr. 11, 2011, 1:12 PM
    Eurosceptic Roger Nightingale takes little comfort from consensus the EU debt crisis will not spread to Spain, saying it wasn't long ago Portugal and Ireland also both looked fine. "A financial purdah has been established ... watch (the reaction) when reality strikes home!"
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  • Apr. 11, 2011, 9:34 AM
    Speaking in Japan, FRBNY President Dudley quashes thoughts of tightening monetary policy with so much slack in the economy. Possibly getting a dig in at the ECB, he warns headline inflation will get a boost from oil prices, but hiking rates because of that would be a policy mistake. No iPad mentions today.
  • Apr. 8, 2011, 4:41 PM
    Hiking rates in the middle of a sovereign debt crisis is "quite inappropriate" says George Soros, talking about the ECB's 25 basis point bump yesterday, with more increases on the agenda. Unlike the Fed's dual mandate, the ECB has one - keeping inflation in check. The euro closes at a 15 month high. FXE +1.1%.
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  • Apr. 8, 2011, 11:41 AM
    First Greece was going to be fine, then Ireland was no Greece, than Portugal was no Ireland. However, cries that Spain is no Portugal look to have some empirical backing. Not the first to notice, but JPM points out the sharp divergence in yields between Portuguese and Spanish debt.
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  • Apr. 8, 2011, 10:06 AM
    Likely to skip a rate hike at its May meeting, the ECB isn't through tightening. Meeting once a month, it's not unusual for the ECB to raise or lower just at every 2nd or 3rd event. Most economists don't expect the next bump in rates until July, followed by another in October. FXE +0.9%.
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  • Apr. 8, 2011, 8:03 AM
    Its country's finances now in the hands of EU/IMF politicians and bureaucrats, Portugal prepares for brutal austerity. "The package to Portugal must be stricter, harder and more comprehensive than the one the Portuguese parliament voted against," says Finnish Finance Minister Jyrki Katainen.
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  • Apr. 8, 2011, 7:51 AM
    "I had a discussion with an interest rate strategist arguing that Ireland was fine - the next week, it imploded," says Julian Pendock, who believes Spain is not out of the woods. "The only chance of muddling through is for the ECB to keep buying debt ... creating a false market."
  • Apr. 8, 2011, 7:42 AM
    It's another wave of green across the commodity sector, with gold hitting a new record, silver crossing $40/oz, and WTI crude threatening $112/barrel. No particular news, but the greenback sinking across the board has something to do with it. Premarket:UUP -0.5%.
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  • Apr. 7, 2011, 3:15 PM
    "This shift is overdue," says Commerzbank chief economist Jörg Krämer reflecting on the ECB rate hike, "it is not without reason that commodity prices have risen so sharply." Another analyst calls it "a gigantic policy mistake ... worrying about inflation being marginally above the sacred 2%." Differing opinions is what makes markets.
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  • Apr. 7, 2011, 2:10 PM
    With the ink barely dry on this morning's rate increase, Thomas Mayer, chief economist at Deutsche Bank, calls for the ECB to hike again. Calling the inflation risk "real," Mayer argues the ECB also needs to send a signal to governments that it will not let them off the hook with a weaker euro. FXE -0.3%.
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  • Apr. 7, 2011, 10:08 AM
    After a few gyrations, the euro is back to where it was before ECB President Trichet's press conference, buying $1.4292. Trichet said nothing to change market expectations for another 75 basis points in hikes in 2011. FXE -0.3%.
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  • Apr. 7, 2011, 9:05 AM
    Despite comments from ECB chief Trichet that inflation risks remain on the upside, currency traders focus (for now) on his statement that a series of hikes has not been decided, taking the euro lower to $1.4250.
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  • Apr. 7, 2011, 8:32 AM
    As ECB President Trichet begins his press conference following the interest rate hike, the euro sits at $1.4288, slightly lower on the day, but about where it was before the rate decision. European shares are moderately higher.
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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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