Tagged: Germany

The Day Today 9 Jan 2015

* China PPI falls further into deflation, -3.3% in Dec from -2.7% in Nov * The ECB already owns 8% of Greek bonds – Coeure yesterday said it would be illegal to restructure this debt * Fed’s dissenting dove (but now non-voter) Kocherlakota says the Fed “could have, and should have” added more stimulus and it…

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The Day Today 5 Jan 2015

* Speigel magazine reports that Germany expect the Eurozone could cope with Greece exiting the Euro – which a government source said was ‘unavoidable’ if anti-bailout party SYRIZA win the elections at the end of this month. “The danger of contagion is limited because Portugal and Ireland are considered rehabilitated” * German officials are quick to…

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The Day Today 23 Dec 2014

* Former Fed Governor Donald Kohn warns the Fed may be on hold for all of 2015 due to overseas risks and lower inflation expectations – note that he also sits on the BOE’s FPC * Saudi oil minister: .“It is not in the interest of Opec producers to cut their production, whatever the price is,”…

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The Day Today 9 Dec 2014

* China tightens use of corporate bonds as collateral – nothing under AAA allowed for repos, and explicitly says won’t apply to the bonds of local govt financing vehicles. This leads to a spike in yields which in turn triggered stops in USD/CNH due to scramble to unwind positions * China’s big banks are pushing for…

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The Day Today 21 Nov 2014

* Japan FinMin Aso: “Over the past week the yen-dollar rate has weakened too fast –thats clear. It’s up to the market to set the currency rate and it’s not something where we intervene. Sudden currency changes aren’t welcome, whether it’s up or down”. * Abe adviser Honda says that a limo ride with Paul Krugman…

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