Archive for May, 2016
Sunday, May 8th, 2016
Via Bloomberg:
Gross says Fed rate increase may come in June as wages rise
El-Erian, Kiesel, Dudley say two Fed moves possible this year
Three of the world’s most influential bond investors and the head of the Federal Reserve Bank of New York are signaling the U.S. central bank is on ...
Posted in Uncategorized | Comments Off on Is June Live for the Fed?
Sunday, May 8th, 2016
This topic always disturbs and perplexes me. The US central bank has achieved record "profits" since the expansion of its balance sheet in the aftermath of the financial crisis. If we are supposed to worry about maintaining those profits,then I guess the logical corollary is that the central bank should ...
Posted in Uncategorized | Comments Off on Central Bank “Profits”
Sunday, May 8th, 2016
Via the FT:
Discoveries of new oil reserves have dropped to their lowest level for more than 60 years, pointing to potential supply shortages in the next decade.
Oil explorers found 2.8bn barrels of crude and related liquids last year, according to IHS, a consultancy. This is the lowest annual volume recorded ...
Posted in Uncategorized | Comments Off on Oil Discovery at Sixty Year Low
Sunday, May 8th, 2016
Via Bloomberg:
Italian-German 10-year yield spread at widest in two months
GDP data could signal if ECB's QE is working: Cantor's Callan
Government bonds from the euro region’s so-called peripheral nations may further underperform German securities with a banking crisis in Italy and political gridlock in Spain far from being resolved.
While ...
Posted in Uncategorized | Comments Off on Persistent Peripheral Pressure
Sunday, May 8th, 2016
Via the FT:
7 hours ago
by: Alistair Gray in New York
Regulators are scrutinising the finances of co-operative lenders that fund the cab trade in New York and some other US cities, as the disruption caused by Uber spreads beyond the taxi stand.
Documents filed in recent days show borrower delinquencies at the ...
Posted in Uncategorized | Comments Off on Financing Taxi Medallions in the Age of Uber
Sunday, May 8th, 2016
Via Bloomberg:
Battle is over `contingency measures' demanded by IMF
Euro-area finance ministers gather on Monday in Brussels
Greece returns to center stage on Monday when aid deliberations by its international creditors will signal whether the country faces a renewed period of political drift or wins some economic breathing space after ...
Posted in Uncategorized | Comments Off on Greek Tragedy Redux
Sunday, May 8th, 2016
Via WSJ:
By
Brian Spegele in Beijing and
John W. Miller in Pittsburgh
May 8, 2016 6:36 p.m. ET
China is doubling down on efforts to keep unprofitable factories afloat despite for years pledging to curb excess capacity, adding to a glut of basic materials flooding the global economy.
The country’s overproduction of steel, ...
Posted in Uncategorized | Comments Off on China and Global Commodity Glut
Sunday, May 8th, 2016
Via FT:
9 hours ago
by: Yuan Yang in Beijing
China reported a decline in exports and imports in April, a reversal of figures the previous month that indicated a tentative revival in both external and domestic demand.
Data published on Sunday by the General Administration of Customs showed that exports fell 1.8 per ...
Posted in Uncategorized | Comments Off on In China Imports and Exports Post Declines in April
Sunday, May 8th, 2016
Via the WSJ:
By Ira Iosebashvili,
Chelsey Dulaney and
Christopher Whittall
May 8, 2016 5:30 a.m. ET
The powerful rallies that have lifted stocks, crude oil and emerging markets for the past three months have one important thing in common—the falling dollar—and investors are growing anxious that it could prove to be the weak link.
While ...
Posted in Uncategorized | Comments Off on Risk Assets and the Greenback
Friday, May 6th, 2016
Via Greg Ip at the WSJ (excellent article):
By
Greg Ip
May 6, 2016 6:32 p.m. ET
17 COMMENTS
If there’s one part of being president for which Donald Trump feels uniquely suited, it’s handling the national debt. Since several of his companies have gone through bankruptcy, he has ample experience ...
Posted in Uncategorized | 1 Comment »