Stocks fell moderately over fears of the details of the ECB stimulus, profit taking and concerns of the content of the Beige Book and the upcoming jobs data that could challenge the accepted monetary timetable. Oil advanced as it appears Libya’s daily production has been...
According to Bloomberg the first rate cut of 2015 occurred on January 1 by Uzbekistan. Since then, the cuts have come fast, with the People’s Bank of China (PBOC) on Saturday becoming the 17th central bank of the 57 monitored by Bloomberg to pare its...
Several years ago many were pontificating that yields will never go negative and banks would never charge for deposits. I viewed these declarations in the same manner of GM would never go bankrupt and the Federal Reserve would never bail out noninsured institutions....
Equity markets were again relatively quiet. There was some discussion regarding January’s CPI data. A plunge in January’s energy costs pulled the CPI down by 0.7%, the biggest decline since 2008 but ex food and energy, costs rose by 0.2%. The data confirmed the Fed’s...
There are number of countries that already have negative interest rates and JP Morgan was the latest money center bank who will begin charging large depositors a surcharge to hold their deposits. Will this force companies to begin expanding?...
What will be the tone of FRB Chair Yellen’s testimony? Moreover ECB President Draghi also speaks around the same time. Talk about massive headline risk....
Stocks rose handsomely on Friday on reports of a deal between Greece and its creditors. It is my understanding there is a four month extension of Greece’s aid if Greece meets conditions. In my view, most have acknowledged that in most scenarios Greece may not...
Markets were relatively quiet as a drop in energy shares offset speculation the Federal Reserve will keep rates lower for longer. ...
In a move few had expected, Sweden yesterday quietly fired another salvo into the escalating currency war by joining Denmark, Switzerland and the ECB in introducing negative interest rates....
I am very hesitant to comment there is little to write about yesterday’s market action for every time I pen such remarks, a dramatic event occurs....