The Day Today

"The Day Today" - 1 July 2014

* Fed’s Williams on rate rises “I still see that as sometime off”, data are “consistent” with mid 2015, but there is “uncertainty about where interest rates will go” based on forecasts by the FOMC.

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"The Weekend Today" - 29 June 2014

The Economist Buttonwood column sums up where we are right now:

* How markets look worryingly like 2007: ‘HAD Rip Van Winkle fallen asleep in early 2007 and woken up today,

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"The Day Today" - 27 June 2014

* Fed’s Bullard: “As time passes, it becomes more and more difficult to argue that credit markets remain in a state of disrepair, and thus harder and harder to justify continued low real rates.” {fifw NSN N7SCQI6KLVS8 <go>}

 

* Macroprudential measures not shocking anyone: Carney’s Loan Cap Seen as Too Weak to Contain U.K.’s Property Market Boom {fifw NSN N7SPXQ6KLVRF <go>}

* Martin Wolf in FT: “An unbalanced recovery is no cause for complacency”

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"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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