Mario Draghi’s trillion-euro journey is under way. The European Central Bank will announce the result of its first targeted lending program today as part of its effort to stave off deflation in the euro area. The so-called TLTRO is among a package of measures that the ECB’s president says will b…
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Draghi’s Trillion-Euro Journey Starts Today
Thursday is a moderately busy day for macro news, including a retail sales report for Britain — the last round of hard numbers ahead of today’s historic vote on Scotland’s future. Later, a couple of US releases will provide fresh perspective on the economic trend via reports on new residential…
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3 Numbers: Welcome retail rise for UK, US housing starts, US jobless
Tom Kaminski is back at work, three years after losing his job as a human-resources manager and dropping out of the labor force for a time to go back to college. Kaminski, 43, dipped into his retirement savings while he earned a master’s degree. The added credential helped him land the position a…
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Missing Men in U.S. Workforce Risk Permanent Separation
If the Fed and Scotland were not enough to hold your interest, fear not: Thursday brings a quarterly rates decision from the Swiss National Bank. Should you care? Well, the Swiss franc has been trading in tight ranges against its neighboring euro since the Swiss central bank pegged the two curren…
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SNB: Negative Rates, or Wait and See?
The USD was stronger across the board following the release of the nearly unchanged statement. The usual suspects were the notable undeperformers – namely, AUD, NZD, BRL and ZAR. These include a mix of currencies that remain fundamentally overvalued and vulnerable to a rise in US rates. Moreover,…
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Mind The Dots: What’s Next For The USD Post-FOMC? – Credit Agricole
The Fed came across as somewhat hawkish relative to expectations, according to Citi’s Stephen Englander, but FX made an outsized move against high-beta G10 and EM relative to equities buying and moderate money market moves… here’s why… Via Citi’s Stephen Englander, This contrast may b…
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Citi Explains Why FX Moved So Much More Than Other Markets After FOMC
Japan’s exports declined in August as shipments to the United States contracted, another sign the economy is struggling to rev up after a deep slump in April-June. A further period of lackluster exports and slack domestic demand could force the government and the Bank of Japan to find new ways to…
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Japan exports knocked by weak U.S. shipments, hurt economic recovery
Bill Fleckenstein of Fleckenstein Capital appeared on CNBC’s Futures Now program on Tuesday. It was kind of a strange segment. Futures Now host Jackie DeAngelis came out swinging, asking Fleckenstein right at the top if he was willing to admit that he had misunderstood monetary policy. Soun…
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CNBC Anchor Calls Out Fed-Hater Fleckenstein In Startling Shouting Match
China’s new-home prices fell in all but two cities monitored by the government last month as tight credit prolonged a market downturn even as local home-purchase restrictions were eased. Prices dropped in 68 of the 70 cities in August from July, the National Bureau of Statistics said in a stateme…
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China Home Price Drop Spreads to More Cities as Demand Weak
An important consideration for monetary policy is the extent of spare capacity in the economy. This depends on the balance of demand for goods and services relative to the economy’s potential to produce them. A shortfall of demand results in spare capacity and places downward pressure on i…
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RBA Bulletin – September Quarter 2014
What a wild and crazy couple of hours we had early this morning after the release of the FOMC statement and then Janet Yellen’s press conference. The markets emotions were clear in the fractious and erratic trade we saw in the Aussie dollar in the two hours between 4 and 6 am. …
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Aussie dollar crushed to new 6 month low as USD sweeps all before it after FOMC
The Federal Reserve stuck with its commitment to its stimulus campaign Wednesday, rejecting the argument it should begin to pull back more quickly, even as it detailed plans for an eventual increase in interest rates. The Fed, in a statement released after a two-day meeting of its policy-making c…
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Fed Signals No Hurry to Raise Interest Rates
Technical Sentiment: Bullish Key Takeaways •Fed tapered its QE program by another $10billion; •Indications for a rate hike timeline were left out again, since there’s “considerable time” left until it will happen; •Building Permits (neutral), Unemployment Claims (neutral) and Philly Fed Manufact…
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USDCAD Makes A Bullish Comeback Post FOMC
Strong growth in service industries saw gross domestic product (GDP) rise 0.7 percent in the June 2014 quarter, Statistics New Zealand said today. “Services make up about two-thirds of the economy and all 11 services industries increased this quarter,” national accounts manager Gary Dunnet said. …
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Services lead to growth in New Zealand’s GDP
The global economy faces a growing risk from big financial market bets that could quickly unravel if investors get spooked by geopolitical tensions or a shift in U.S. interest rate policy, the International Monetary Fund said on Wednesday. The IMF, an institution based in Washington that is the w…
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IMF warns of risks from ‘excessive’ financial market bets
By day, Brian H. Lederman works as a managing director for Swiss Performance Management & Fiduciary.* By night (and maybe also by day), he grabs women’s asses. He grabs them on the subway, on the sidewalk, while waiting in line for the bathroom, and on his way out of the club. He grabs them in the…
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Hedge Fund Manager Keeps A Detailed Record Of All The Asses He’s Grabbed
The stock market rose Wednesday after the Federal Reserve told investors to expect low interest rates for a while yet, pushing the Dow Jones industrial average to a record high. More Facebook Is Now Worth $200 BillionApple Stock Slips Ahead of New iPhone UnveilingEXCLUSIVE: Iran’s President Blasts…
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Dow Closes at Record After Fed Keeps Rates Intact
BREAKING
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Scottish poll latest – YES 48% / No 52%
On the eve of the Scottish independence vote the mood in Edinburgh is a mix of optimism (on both sides), concern and, after an intense campaign that has dominated the press, an impatience to know once and for all what the future holds. After almost two years since Prime Minister David Cameron and…
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Less Than 24 Hours Before Scotland’s Historic Vote, People Are Afraid, Frustrated, And Impatient
The highly-anticipated Federal Reserve Monetary Policy Statement just hit the wires, and there’s plenty for both bulls and bears to digest. Tackling the proverbial “Elephant in the Room” first, the committee chose to keep the “considerable time” pledge in its statement. Many market participants…
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Fed Instant Reaction: What Do the Dots Say?
