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The Consequences Of ‘Transitory’

By |2019-10-07T17:31:17-04:00October 7th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Europe’s QE, as noted this weekend, is off to a very rough start. In the bond market and in inflation expectations, the much-ballyhooed relaunch of “accommodation” is conspicuously absent. There was a minor back up in yields between when the ECB signaled its intentions back in August and the few weeks immediately following the actual announcement. Other than that, and [...]

Simplicity; European Finance

By |2014-05-28T16:23:22-04:00May 28th, 2014|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was just over a year ago that the ECB began courting rumors about an ABS addition to its monetary toolkit. With the obvious lack of credit flowing in the real economy flying directly in the face of all monetary convention and expectations, you can understand the desire to dust off the idea. Just over a week before the ECB’s [...]

Exposing Simplicity In Europe

By |2014-05-28T16:20:29-04:00May 28th, 2014|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The foregone conclusions regarding currency devaluation in orthodox policy prescriptions are being turned inside out in Japan, where trade is behaving exactly contrary to all policy expectations. Getting from A to B sounds so tantalizingly easy and simple, but financial complexities (arising out of constant and persistent appeals to financialism itself) go beyond muddying the waters. The same holds true [...]

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