Is This The End? Draghi Fires His Bazooka And Markets Turn Away In Disgust
ECB chair Mario Draghi delivered big-time this morning by announcing lower interest rates and a new round of debt monetization. Historically, this kind of thing
ECB chair Mario Draghi delivered big-time this morning by announcing lower interest rates and a new round of debt monetization. Historically, this kind of thing
When historians sort out this era of once-a-decade financial bubbles, they’ll marvel at how dissimilar the drivers of each boom were. The junk bonds of
It appears that Great Britain might actually do the until-recently-unthinkable, and leave the European Union. The reasons for this dramatic break-up are many, and can
So far, each financial crisis in the series that began with the junk bond bubble of 1989 has been noticeably different from its predecessors. New
Once upon a time, falling interest rates were great for banks. A lower cost of capital gave lenders access to cheap raw material while causing
Another Monday, another set of “surprisingly” bad economic numbers. A few representative headlines: China manufacturing prices decline for 18th straight month Oil prices fall 5%
Well that didn’t take long. Two weeks of falling share prices and the European and Japanese central banks caved. First the ECB promised new stimulus
If 2015 was a year Brazil would like to forget, 2016 is doing its best to make that happen. But, alas, not in the way
One by one the pillars of the recovery are toppling. Last year the Chinese infrastructure party ended and the shale oil boom went bust. More
Republican party insiders expected The Donald to have his 15 minutes and then, when the reality of what President Trump might mean sinks in, lose
A few years ago, economist Nouriel Roubini was explaining to a reporter why Chinese economic data couldn’t be trusted. He noted that it takes the
That didn’t take long. A month after the Fed’s dreaded quarter-point interest rate hike, the markets tank and out come the talking heads to promise
One of the (many) fascinating things about this latest global financial crisis is that there’s no single catalyst. Unlike 2008 when the carnage could be
Sometimes one big event dominates the landscape, like last week when the Fed raised interest rates. Other times a bunch of less-universally-significant-things add up to
A too-strong currency is, in theory, supposed to make it harder to sell things to cheap-currency countries, thus crimping corporate profits and by implication pretty
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