Main

main

Fill yer boots

Yesterday’s post, for the eagle-eyed amongst you, quoted the final line we would have got from Pulp Fiction, if it had gone in chronological order. It’s a (perhaps overly subtle and overly 1990s pop-culture related) reminder that sequencing counts. Before tonight’s Fed meeting, the market had always gone behind the Fed, which itself appeared to…

Read more >

Fed’s dead, baby. Fed’s dead.

The final Fed meeting of the year, and it’s all fully priced for a hike. December hikes: Janet Yellen is a fan. Remember last year when the first one was supposed to cause utter disaster? Remember that last Dec, they thought they would be doing 4 hikes this year? Remember this September, deep in the…

Read more >

Why the Fed is no longer the main game in town

Yesterday the BIS praised financial markets for spotting the paradigm shift that they would no longer be spoon fed by central banks. That the real risk, in fact, came from judging the massive policy uncertainty that Albert Edwards so beautifully demonstrated in his chart which makes him panic. But neither have yet pointed out that…

Read more >

You’re getting there, say the #BIS

With just under two weeks to go until the holidays begin, and just the hump of the Fed meeting this week to get through, we could all be forgiven for just thinking about crossing the 2016 finishing line intact. That, and gin. Yes, the survival instinct (to which cocktails are integral) is strong. But oh,…

Read more >

Let Us Know When You Might Start Hiking #ecb

The somewhat ambivalent approach to today’s ECB meeting is a sign of just how dead monetary policy is. We can’t quite leave behind the lower-forever days that consumed us for most of this year, but we face an ECB who might both extend QE and announce when it might be stopping, all at the same…

Read more >