Archive for October, 2014
Sunday, October 12th, 2014
Via the FT:
October 12, 2014 4:41 am
Buy one, get free chickens – Chinese developers resort to gimmicks
By Jamil Anderlini in BeijingAuthor alerts
Models dressed as imperial concubines, discounts for people who lose weight, appeals to patriotism and 1,000 live chickens for prospective buyers of apartments.
China’s slumping real estate market has prompted ...
Posted in Uncategorized | Comments Off on A Chicken with Every New House
Sunday, October 12th, 2014
Via WSJ:
Markets
Banks Ink Swaps Deal With U.S. Regulators
Agreement Aims to Address Key Concern Over ‘Too Big to Fail’
By
Andrew Ackerman
Updated Oct. 12, 2014 8:49 a.m. ET
WASHINGTON—The largest lenders in the U.S., Europe and Japan on Saturday agreed to new procedures to help inoculate the global financial system against the failure of ...
Posted in Uncategorized | 1 Comment »
Sunday, October 12th, 2014
I wrote this yesterday about the ECB considering a move to add the yuan to its reserves. The WSJ story has a story quoting Fed San Francisco President Williams on the same topic.
Via the WSJ:
Pedro Nicolaci da Costa
The gradual but rising international use of the Chinese yuan is a natural ...
Posted in Uncategorized | Comments Off on Williams on Rising Use of Yuan
Saturday, October 11th, 2014
Via Reuters:
(Reuters) - A stronger dollar and weak global inflation are putting downward pressure on the pace of price increases in the U.S. economy, posing a challenge for the Federal Reserve, a top Fed official said on Saturday.
"The dollar, it puts downward pressure on our inflation," Chicago Federal Reserve Bank ...
Posted in Uncategorized | Comments Off on Fed’s Evans Comments on the Dollar and Inflation
Saturday, October 11th, 2014
Stanley Fischer, Vice Chairman of the Federal Reserve, spoke today at a conference in Washington DC and said that if foreign growth were weak the Fed might remove accommodation more slowly than it would have otherwise. Here is the quote via Bloomberg as well as a link to the full ...
Posted in Uncategorized | Comments Off on Vice Chair Fischer Speaks of Rate Hikes Deferred
Saturday, October 11th, 2014
Federal Reserve Board Governor Tarullo speaking at a conference in Washington DC said that he thinks the global economy e faces more downside risk than upside risk.
Via the WSJ:
Economy
Fed’s Tarullo Expresses Concern About U.S. Productivity
Official Says Fed Must Also Be Mindful of Other Economies as It Sets Policy; Watching ‘Shadow ...
Posted in Uncategorized | Comments Off on Dovish Tarullo
Saturday, October 11th, 2014
Via FT:
October 11, 2014 12:26 pm
Finnish PM calls for ‘strict discipline’ after downgrade
By David Crouch in Gothenburg
Finland’s prime minister has called for “strict discipline” in Finnish society after rating agency Standard & Poor’s cut its AAA long-term sovereign credit rating to AA+.
“Alarm bells have been ringing for a long time, ...
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Saturday, October 11th, 2014
I recently finished a book by William Silber regarding the financial crisis in 1914 which developed at the onset of World War 1 and led to the shuttering of the New York Stock Exchange for four months. The NYSE closed at the behest of Treasury Secretary McAdoo who wanted to ...
Posted in Uncategorized | Comments Off on ECB Weighs Adding Yuan to Reserves
Saturday, October 11th, 2014
Via Bloomberg:
Lew Warns Against Competitive Devaluation as Dollar Gains
By Kasia Klimasinska and Simon Kennedy Oct 11, 2014 12:01 AM ET
U.S. Treasury Secretary Jacob J. Lew warned global policy makers against devaluing exchange rates for competitive advantage amid mounting concern over the strength of the dollar and slowing world growth.
With counterparts ...
Posted in Uncategorized | Comments Off on Currency Wars
Saturday, October 11th, 2014
Via the NYTimes:
Financial markets have been priced for perfection. And this week, the world economy looked far from perfect.
That was the unnerving reality behind a whipsaw week on Wall Street that caused dramatic swings in the global markets for stocks, bonds, currencies and commodities like oil. The pattern continued on ...
Posted in Uncategorized | Comments Off on On Economic Weakness, Deflation and Policy Making