Tagged: Market Madness

Hold onto your hats

As London was going home on Tuesday February 3rd, EUR/USD had almost hit 1.1500 – that’s up 3.5% from its post ECB QE lows. Prior to that, it had fallen almost 5% from the moment just before Mr Draghi stood up to give his press conference.

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The Day Today 21 Jan 2015

* Bill White, the man who predicted the financial crisis, warns the current situation is even worse: “We are holding a tiger by the tail”; and that more QE won’t work: “Sovereign bond yields haven’t been so low since the ‘Black Plague’: how much more bang can you get for your buck?”

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The dust hasn’t even vaguely settled

….but this is what we know so far:

1. Yesterday queues were forming in Swiss banks, but more interestingly, at bureaux de change. Deeply negative rates and a massive currency appreciation are not lost on the Swiss people –

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Waving, not drowning

We thought we had a handle on this oil price fall didn’t we? We thought we could take our time to ruminate on whether it put us in the deflation is good or deflation is bad camp (and there are still arguments on both sides).

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