the Telegraph Monti to make last-ditch effort tomorrow to persuade Spain to swallow its pride and accept formal rescue.
Economists are already talking about pushing QE3 expectations back to December rather than at the next meeting in September. For sure there will be another month of combing through data and speculating. The next major event on the Fed’s calendar … Continue reading
Ben, you inflation warrior you! Dollar flying, stocks skidding. The door remains wide open to further ease if need be, but only if things get quite a bit worse, it would appear. 1.2220/25 is important support on this pullback in … Continue reading
Rates held at 0-0.25%, as expected Rates to be kept low ‘at least through late 2014′ Fed says monitoring developments US economic activity has decelerated somewhat over H1 Repeats that growth expected to remain moderate over coming quarters Full text … Continue reading
Here is the June statement. I would estimate the market has priced a 75% chance that the statement saying conditions are “likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.” Will be adjusted … Continue reading
The ECB certainly has options tomorrow: Refi rate cut Bringing the deposit rate below zero Another LTRO, likely longer than 3 years ESM banking licence Something else powerful and mysterious Bond buys A combination of all of the above Current … Continue reading
What if the Fed does not signal a deepening of concern over the US economy and downplays the odds of another futile bout of quantitative ease? That’s the risk, as the market assumes they will set the stage at these … Continue reading
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