Tagged: UK

The Day Today 20 Jan 2015

* China data better than expected – the stock market rallies from the 7% loss of the previous trading day: Q4 GDP 7.3% vs 7.2% exp Dec Retail Sales 11.9% YoY vs 11.7 exp Dec IP 7.9% vs 7.4 exp Dec Fixed Asset Invmt 15.7% vs 15.7 exp * France’s Hollande lets the cat out…

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The Day Today 13 Jan 2014

* ECB Nowotny confirms that the debate is all about whether national central banks should bear the risk of the QE purchases, or should it be shared amongst Eurozone members * ECB Noyer: “In my view, such a program can be launched only if a majority of the debt would continue to be held by private investors”…

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The Day Today 7 Jan 2015

* Dutch newspaper reports ECB looking at 3 options for QE: 1) ECB buys Govts in proportion to their shareholding in the central bank 2) ECB buys only AAA-rated Govts, taking their yield negative and pushing yields of other Govts lower 3) As for option 1, but national central banks buy the bonds rather than…

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UK political risk isn’t going away

Take note of the comments yesterday from Gus O’Donnell, the former head of the civil service (and known, not unsurprisingly, by his initials as GOD): “People should be ready for the fact that it might take rather longer to form a government than the five days last time,” And also warned that the Prime Minister…

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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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