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Copper and Currencies

May 18, 2009
Copper prices were among the first of the industrial raw materials to bottom. Some investors and economists regard copper as a leading economic indicator even though they are aware of the increase role for fiber optic cables and other substitutes for what some call "red gold". Copper's low was set on Xmas eve and since then has been …
Copper and Currencies Copper and Currencies Reviewed by magonomics on May 18, 2009 Rating: 5
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ECB: The Platypus Central Bank

May 15, 2009
If it looks like a duck, walks like a duck, and quacks like a duck, it must be a duck. Yet the European Central Bank says it is not a duck. Perhaps it is a platypus.
At its most basic level, quantitative easing refers to central banks using tools other than interest rates to make monetary conditions more accommodative. The ECB has expanded its bala…
ECB: The Platypus Central Bank ECB: The Platypus Central Bank Reviewed by magonomics on May 15, 2009 Rating: 5
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ECB Says No to CEE Bonds as Collateral

May 14, 2009
The ECB may have agreed in principle to purchase covered bonds, but it has no appetite to accept local currency sovereign bonds from eastern and central Europe as collateral. Reuters reports that the ECB has formally rejected the request of “several” central European central banks to accept non-eurozone local currency bonds for collateral. The Dep…
ECB Says No to CEE Bonds as Collateral ECB Says No to CEE Bonds as Collateral Reviewed by magonomics on May 14, 2009 Rating: 5
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What's Up (Down) with Libor?

May 14, 2009
The benchmark three-month LIBOR continues to fall. Since last Friday, it has fallen by about 8 bp, more than in the whole month of March. In April, three-month libor fell about 20 bp and thus far this month it has fallen another 16 and counting. The LIBOR-OIS spread has also fallen sharply. It fell 9 bp today to bring this week's decline to 17…
What's Up (Down) with Libor? What's Up (Down) with Libor? Reviewed by magonomics on May 14, 2009 Rating: 5
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Shifting Drivers in FX

May 13, 2009
We keep a watchful eye on correlations between various currencies and othermarkets, including equities, commodities, and Treasuries. Although it may feel like some of these inter-market relationships are breaking down, a review of some recent correlations suggest otherwise. Believing it is the most rigorous approach, these correlations are run on …
Shifting Drivers in FX Shifting Drivers in FX Reviewed by magonomics on May 13, 2009 Rating: 5
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