Archives: October 2016

Let’s Get Fiscal

I’ve been patient, I’ve been good, as Olivia Newton-John once crooned. Now we need to get Fiscal, the world’s governments seem to think. They’ve played the austerity game, the world didn’t end, and if anything yields are so low, and debt so sustainable, it would seem foolish not to tap into it… wouldn’t it? That…

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The Day Today 6 October 2016

* Germany plan 6.3bn eur of tax cuts * Sources say German officials are meeting with US DOJ officials over Deutsche * BOE Broadbent warns Brexit could have “insidious” impact on investment * Stiglitz sees Italy leaving the Euro * Fed Fischer: “We could be stuck in a new longer-run equilibrium characterized by sluggish growth”…

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The End of Monetary Policy Part 3

So the ECB denies that they have already discussed tapering their QE programme, just as every about-to-be-sacked football manager announces they have the full confidence of the board. A Bloomberg article released yesterday afternoon casually reported that ‘The European Central Bank will probably gradually wind down bond purchases before the conclusion of quantitative easing, and…

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The Day Today 5 October 2016

* ECB denies it is already discussing plans to reduce its bond purchases * Bill Gross said the taper news caused him to “basically reverse positions from long duration to short” * Fed Evans is “fine” with a Dec hike * Oliver Wyman: Hard Brexit could cost UK financial firms 38bn GBp * Brexit Minister: “Now,…

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