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Disappointing U.S. Retain Sales Did to MXN What S&P Failed to Do

magonomics May 13, 2009

The Mexican peso is under pressure following the disappointing US retail sales. The US dollar is at its best level against the peso since May 4th when the anxiety over the swine flu broke. The central bank meets at the end of the of the week and a large rate cut is likely.

Disappointing U.S. Retain Sales Did to MXN What S&P Failed to Do

Reviewed by magonomics on May 13, 2009 Rating: 5

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Bipartisan Support in US Congress to Play with Fire

magonomics May 12, 2009

Washington contacts report that there is a bipartisan group in the Congress that is attempting to resurrect legislation that would punish China for not appreciating the yuan faster.
The Democrat Senator from Michigan (Stabenow) and the Republican Senator from Kentucky (Bunning) are leading the move in the upper chamber. They will reportedly meet to…

Bipartisan Support in US Congress to Play with Fire

Reviewed by magonomics on May 12, 2009 Rating: 5

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Playing With Fire

magonomics May 12, 2009

Old men should know that playing with fire is dangerous. Yet that is precisely what they have done. Many have argued that the large US external imbalance was a major risk to the world economy. The previous solution was for the US to boost domestic savings, for Europe and Japan to make structural reforms to boost domestic demand, and for Asia to ad…

Playing With Fire

Reviewed by magonomics on May 12, 2009 Rating: 5

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Covered Bonds: Back to the Future

magonomics May 11, 2009

The European Central Bank seems to surprise the market once a year. Last July the ECB surprised the market and arguably common sense when it hiked interest rates at the peak in commodities, especially oil, just as the region’s economy and other major industrialized economies were about to fall off a cliff. It appears to have gotten this year’s sur…

Covered Bonds: Back to the Future

Reviewed by magonomics on May 11, 2009 Rating: 5

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US Inflation: Where and When

magonomics May 01, 2009

There are two main issues that are worrying investors. The first is the future of the dollar as the numeraire—the key metric in the world economy. Recent Special FX pieces have argued that this concern is misplaced. The dollar’s share of reported reserves remains fairly stable. Its use as an invoicing currency remains pervasive. Numerous commoditi…

US Inflation: Where and When

Reviewed by magonomics on May 01, 2009 Rating: 5