The Day Today

The Day Today 23 Sept

* Merkel wins with the highest share of votes for the CDU since 1990, but the question is what coalition will she form * 12 Fed speakers this week (!) but will we learn anything new. Key will be Dudley speech at 2.30pm LDN today * Fed’s George (sole dissenter) warns Fed credibility at risk…

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The Day Today (Friday edition)

And so, it feels like we’re back to where we started. $/ZAR touched 9.55 yesterday, back to May 22nd levels before tapering chat began. While currencies are confused, stock mkts are still performing relatively well, though pausing while we digest whether no taper now means more taper later. Commentary all fairly negative on Bernanke (see…

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The (What taper?) Day Today 19 Sept

And so the world’s most important central bank blinks. They teed up the market for tapering and then claimed that ‘tightening financial conditions’ meant they have to wait and see. Stock markets duly rallied as the punchbowl remains and the party really is back in full swing. We thought the Greenspan put was strong, but…

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The (Taper?) Day Today 18 Sept 2013

5 years after Lehman collapsed and the most important central bank in the world is about to signal that easy money really is over. Whether the so-called taper is $5bn, $10bn, $20bn, however its split between Tsys and MBS, this marks a significant turning point for the global economy. It’s time for the world to…

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The Day Today 17 Sept

FED * WSJ:  Yellen “emerged as the front runner”.. “The process for selecting a nominee isn’t starting over…no new candidates have been added to the mix.. An announcement won’t happen this week”  http://on.wsj.com/15zu6hM * RTRS concurs about no further additions to list  http://reut.rs/1eZ3Qkk * NYT also calling for Yellen http://nyti.ms/16aQ4n0 * Hilsenrath: Fed Faces Tough…

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