The Day Today

"The Day Today" - 26 June 2014

* Ahead of the BOE’s Financial Stability Review today, Bloomberg summarise criticism of Carney, but note that five of his first ten rate decisions at the Bank of Canada were surprises versus consensus {fifw NSN N7RM8D6JIJVC <go>}

 

* Atlanta Fed Working Paper: QE reduced the unemployment rate by 0.13% and extending expectations of near-zero interest rates for a year would be similar to a 35bp reduction in the policy rate http://bit.ly/1muSrxr

 

* WSJ: $22bn inflows to hedge funds last month,

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"The (Biting) Day Today" - 25 June 2014

* The Fed’s Dudley follows suit from the BOE’s warnings about uncertainty: “The market expectations are that the Federal Reserve will start to raise short-term interest rates around the middle of 2015…That sounds to me like a reasonable forecast,

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"The Day Today" - 24 June 2014

* German Business Confidence Falls More Than Forecast as Growth Seen Slowing {fifw NSN N7NY9J6KLVR9 <go>}

 

* ‘Oil extended declines as Iraqi army victories damped concern the nation’s crude supplies will be disrupted’

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"The Day Today" - 23 June 2014

* Draghi: “We have prolonged banks’ access to unlimited liquidity up
to the end of 2016. That is a signal,”…“Quantitative easing can include not only government bonds, but also private sector loans,”….“We will discuss that when the time comes.” {fifw NSN N7L0YF6JIJUO <go>}
* Nowotny: “As soon as there’s clear growth,

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