Edit
) no-repeat top center;background-size:cover'>

ECB Surprises and Greece says 'Never Mind'

November 03, 2011
The ECB surprised the market by cutting the key rates 25 bp.  This was Draghi's first meeting.  With the euro zone economy either in a recession or quickly headed into one, which in turn will help bring inflation off the 3% area, Draghi led the ECB to reversing the rate hike delivered four months ago. Around the same time, the Greek Prime Mini…
ECB Surprises and Greece says 'Never Mind' ECB Surprises and Greece says 'Never Mind' Reviewed by Marc Chandler on November 03, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

The Elusiveness of Currency Diversification

November 02, 2011
One challenge investors and portfolio managers is achieving diversification. Impressionistic views gained from every day experience are confirmed by a number of academic studies. Diversification in the international capital markets is becoming increasingly difficult. Bond markets have long been highly correlated. Equity markets have become increas…
The Elusiveness of Currency Diversification The Elusiveness of Currency Diversification Reviewed by Marc Chandler on November 02, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

FOMC as Expected, but Only a Dove Cries

November 02, 2011
The FOMC statement contained no surprises and no change in asset purchases.
The statement recognized somewhat better growth in Q3 (better than H1).  It said growth strengthened somewhat while previously it said growth remained slow.  Weakness in the labor market continued to be noted, but despite this and the depressed housing market conditions, it…
FOMC as Expected, but Only a Dove Cries FOMC as Expected, but Only a Dove Cries Reviewed by Marc Chandler on November 02, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Hump Day and Beyond

November 02, 2011
Even though a great sense of stability appears to return to the markets after the blood-letting of Monday and Tuesday, there has been fresh developments on the ground to suggest these market moves will be sustained.  The purchasing managers surveys in Europe were generally poor with the region as a whole coming in at 47.1, down from 47.3 in the fl…
Hump Day and Beyond Hump Day and Beyond Reviewed by Marc Chandler on November 02, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Evolution of Fed's Economic Views--to be Updated Tomorrow

November 01, 2011
The Federal Reserve holds a two day meeting that concludes near midday tomorrow. It will likely be the first meeting in a while where there is not change in the composition or size of the balance sheet and no fresh initiatives, like cutting the rate of interest paid on excess reserves, or guidance. The tweaks in the communication are likely to be …
Evolution of Fed's Economic Views--to be Updated Tomorrow Evolution of Fed's Economic Views--to be Updated Tomorrow Reviewed by Marc Chandler on November 01, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Some Thoughts on the CDS Market and Greek Developments

November 01, 2011
There is much truth to the generalization that European banks took on direct exposure to European sovereigns through the bond market, while top banks took exposure through selling insurance, primarily CDS, on the sovereigns. The latest BIS data suggest that in H1 2011, US banks increased their CDS sales by almost $81 bln to $518 bln. Two thirds ar…
Some Thoughts on the CDS Market and Greek Developments Some Thoughts on the CDS Market and Greek Developments Reviewed by Marc Chandler on November 01, 2011 Rating: 5
Edit
) no-repeat top center;background-size:cover'>

Dollar Recovery Continues

November 01, 2011
News of Greece's political gambit, fallout from haircut that is not a default, and poor economic data have seen risk come off in a big way after last week's near euphoria. While the euro never recovered from the news of that Greece will call a referendum, news that China's official PMI fell to 50.4 in Oct from 51.2 in Sept, contradicti…
Dollar Recovery Continues Dollar Recovery Continues Reviewed by Marc Chandler on November 01, 2011 Rating: 5
Subscribe to: Posts ( Atom )
Powered by Blogger.