The Day Today

"The Day Today" - 29 May 2015

* Fed Bullard: ‘it’s time to question the current theory and explore other models’

* Fed Kocherlakota: ‘it would be a mistake to raise…fed funds rate in 2015’

* Japan FinMin Aso: ‘current yen weakening in the past few days has been rough’

* ECB Says Long Greek Talks May Hurt Other Eurozone Borrowers: WSJ

* Greek exit from euro is ‘a potential’,

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"The Day Today" - 28 May 2015

* BOJ accounts reveal they are keeping 25% of their profits as capital against future losses from their QE programme – more than the legally required 5%. Last year they kept aside 20%

* Spain wants the ECB mandate changed so that they are also responsible for curbing “macroeconomic imbalances”

*Lack of liquidity:

  • JPIM trader says cost of trading 2,000 Bund contracts has ‘trebled in three years’
  • Most trading on US stock markets takes place on the open and into the close,

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"The Day Today" - 26 May 2015

* Fed Vice-Chair Stan Fischer: “which is better, early and gradual or late and steep? If we raise the rate from zero it will be harder to go back to zero if there is a problem”

* Fed’s Mester: “Time is near” for rate hike

* ECB weekly purchases of bonds increase at the slowest pace in 3 weeks last week,

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