Last night is a night on markets which show the power of free money and zero interest rates on volatility. Even though Russia appears to have quietly “invaded” Ukraine and even thought US Q2 GDP was revised up to a stellar 4.2%. The level of market moves – or to be frank the lack thereof – is rem…
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Free money and QE dampening volatility even as Russia enters Ukraine
Southeast Asian economies, which have been enjoying growth rates around 7%, are starting to lose steam as the rest of the world continues to slump and rising prices discourage spending. The Philippines saw real gross domestic product grow 6.4% on the year in the April-June quarter, according…
The broad rally of the USD has clearly lost some momentum as it was facing strong resistance barriers across the board suggesting that further temporary setback could be due in the near term, argues JP Morgan. Specifically in EUR/USD, JPM thinks that the broader down-rotation remains intact but…
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EUR/USD, GBP/USD: Where Is The Bounce? – JP Morgan
The use of unconventional monetary policy in major central banks prompted a reduction in long-term yields and a sharp fall in the term premium. This helped to restore market functioning, strengthen financial intermediation, and support growth. However, the prolonged period of low interest rates…
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Spillovers from unwinding monetary support in advanced economies
The recovery from the 2008 financial crisis and subsequent recession has lasted five full years, but even amid news that the U.S. economy grew a better-than-expected 4.2 percent in the second quarter and emerging unemployment remains well within comfortable bounds, the story of growth is much more…
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If the Jobs Recovery Is ‘Real,’ Why Are Economic Fears Lingering?
Economic recovery in Europe requires action both on the demand and supply sides and persistence with structural reforms, European Central Bank Executive Board member Benoit Coeure said on Thursday. “What we have been saying, what particularly the ECB President (Mario Draghi) has been saying last …
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ECB’s Coeure says action needed for euro zone recovery
Yesterday Russian President Putin calmed markets by reaching out to Ukranian PM and seeking to discuss the current situation with his counterpart with the goal of avoiding further conflict. The market took Putin at face value and hours later as more details emerged about the incursion of Russian…
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Gold and Oil get Geopolitical and Macro Economic Boosts
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Dallas Fed President Richard Fisher Takes the ALS Ice Bucket Challenge
Treasuries rose, pushing the 30-year bond yield to a 15-month low, as rising tension in Ukraine and speculation the European Central Bank will buy bonds overshadowed data showing the U.S. economy strengthened. A gauge of government bonds around the world approached a record high on speculation th…
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Treasuries Gain as European Tensions Overshadow U.S. Data
Over two centuries ago, famed British banker Nathan Mayer Rothschild coined the trading phrase, “buy on the sound of cannons; sell on the sound of trumpets.” He was insinuating that markets tend to panic at the outbreak of wars (“the sound of cannons”), presenting good long-term values. On the other…
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USDRUB: “Buy on the Sound Of Cannons?”
BREAKING
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NATO Envoys To Hold Emergency Meeting Friday On Ukraine: AFP
The Federal Reserve Bank of Kansas City launched Thursday a new gauge to track labor market conditions, which signaled in its first outing a hopeful outlook for hiring in the U.S. economy. The bank said that its Kansas City Fed Labor Market Conditions Indicators activity measure moved to -0.6 in …
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Kansas City Fed Launches New Job Market Index, Sees Improvements
THERE are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to…
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Dethrone ‘King Dollar’
We like to think we’re rational human beings. In fact, we are prone to hundreds of proven biases that cause us to think and act irrationally, and even thinking we’re rational despite evidence of irrationality in others is known as blind spot bias. The study of how often human beings do irration…
Cameron also called for an immediate halt to Russian tanks crossing into Ukraine. Separately, Ukraine says two columns of Russian military vehicles have been destroyed near Ilovaysk.
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UK PM Cameron warns of further consequences for Putin
U.S. supplies of natural gas increased 75 billion cubic feet in the week ended Aug. 22, the Energy Information Administration said Thursday. That was slightly below an expected increase between 76 bcf and 80 bcf, according to analysts polled by Platts. Natural gas for September delivery was up 5…
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Natural gas supplies increase slightly below expectations
First it was the 2007 financial crisis. Then it became the 2008 financial crisis. Next it was the downturn of 2008-2009. Finally, in mid-2009, it was dubbed the “Great Recession.” And, with the business cycle’s shift onto an upward trajectory in late 2009, the world breathed a collective a sigh of…
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The Greater Depression
Pending home sales rebounded in July and have now risen in four of the last five months, according to the National Association of Realtors®. All major regions experienced healthy gains except for the Midwest, which saw a slight decline. The Pending Home Sales Index,* a forward-looking indicator b…
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Pending Home Sales Pick Up in July
BREAKING
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UN Security Council to hold emergency meeting on Ukraine
The yen and Swiss franc gained on Thursday, while the euro fell, as concerns about a serious escalation in tensions between Ukraine and Russia rattled investors and drove them to seek safe-haven currencies. The euro hit a 21-month low against the Swiss franc of 1.2052 francs per euro on trading p…
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Safe-haven yen and Swiss franc gain on Ukraine worries
