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Great Graphic: EONIA Being Squeezed Higher, Likely Seasonal Noise

November 22, 2013
This Great Graphic is a Bloomberg chart of the EONIA, a key short-term interest rate in the euro area.  It stands of the Euro Overnight Index Average. 
Three things are immediately evident.  First, overnight rates trade close to the zero deposit rate.  The refi rate, now at 25 bp, is less significant.  Second, there are periodic spikes that seem t…
Great Graphic: EONIA Being Squeezed Higher, Likely Seasonal Noise Great Graphic:  EONIA Being Squeezed Higher, Likely Seasonal Noise Reviewed by Marc Chandler on November 22, 2013 Rating: 5
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Dollar Mixed on Day and Week Amid Much Noise Around Constant Signal

November 22, 2013
It has been difficult to talk about the US dollar in general terms.  It continues to be mostly softer against the European complex, but firmer against the yen and the dollar-bloc currencies.  Although there has been much talk this week, the forces shaping the investment climate have not really changed.  
The Fed, as the vast majority of survey resp…
Dollar Mixed on Day and Week Amid Much Noise Around Constant Signal Dollar Mixed on Day and Week Amid Much Noise Around Constant Signal Reviewed by Marc Chandler on November 22, 2013 Rating: 5
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Emerging Markets: What has Changed

November 21, 2013
(from my colleagues Dr. Win Thin and Ilan Solot) 

1) Optimism about Petrobras and BRL was dented as Friday’s key event was postponed
2) RBI Governor Rajan continues to push with his aggressive reforms
3) Turkey gave more hawkish-than-expected guidance on rates
4) Czech central bank hints at further action
Over the last week, China (+5%), Hong Kong…
Emerging Markets: What has Changed Emerging Markets:  What has Changed Reviewed by Marc Chandler on November 21, 2013 Rating: 5
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Bitcoins, Dollars And Renminbi

November 21, 2013
Reports indicate strong Bitcoin interest in China.  BTC, the China-based Bitcoin exchange accounts for trading a third of all Bitcoin transactions, while China may account to close to half of the daily turnover,  according to some internet reports at an estimated 200k Bitcoins a day.  
Registered participants on BTC are reportedly near 10k and ris…
Bitcoins, Dollars And Renminbi Bitcoins, Dollars And Renminbi Reviewed by Marc Chandler on November 21, 2013 Rating: 5
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Raining on the Parade

November 21, 2013
The US dollar is consolidating yesterday's gains against most of the majors, with two notable exceptions. Perceptions of heightened prospects for Fed tapering has pushed up US Treasury yields and lifted the dollar to its highest level against the yen since July,  just shy of JPY101.  
Ironically, the low yielding yen's weakness has been lar…
Raining on the Parade Raining on the Parade Reviewed by Marc Chandler on November 21, 2013 Rating: 5
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