eurodollar FX

Tomorrow’s GDP Report Will Confirm The ‘Jobs Saved’ Economy Remains

By Jeffrey P. Snider|2017-04-27T19:28:17-04:00April 27th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The advance estimate for GDP is scheduled for release tomorrow, and by current estimates it should be a total washout. Yet another first quarter is expected to be a disaster, the fourth in a row and the third straight under the “residual seasonality” regime that was supposed to reveal the hidden economic strength obscured by recent winters. Unlike 2014, however, [...]

Do Record Eurodollar Balances Matter? Not Even Slightly

The BIS in its quarterly review published yesterday included a reference to the eurodollar market (thanks to M. Daya for pointing it out). The central bank to central banks, as the outfit is often called, is one of the few official institutions that have taken a more objective position with regard to the global money system. Of the very few [...]

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