//youtu.be/ag14Ao_xO4c Has Yellen seen the movie Margin Call, I wonder? In it, Jeremy Iron’s classic Wall Street boss (John Tuld) referred to 3 ways of making a living: be first, be smarter, or cheat. Of course in financial markets these are not mutually exclusive options where Governments habitually use their central banks to operate […]
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LoL – Yellen chickens out of hike interest rate as expected. Indeed, one FOMC member appears to be expecting negative rates. Just confirms that the Fed has no idea how to get the patient off the hopium. This party is going to have to carry on until we finally get a currency collapse. With […]
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Well that’s okay, according to a recent survey by Bloomberg, most economists don’t think the next recession will be until 2018. As most of these are employed by banks with a vested interest to pump shares, this is most convenient, at least on two fronts. Firstly, the very low risk of an early recession is […]
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Will she or won’t she? It seems with Fed interest rate policy remaining the only game in town, strategists are stuck with trying to second guess Yellen’s next move at the forthcoming FOMC on 16-17 September. Of course we’ve been here before and we can look at all the evidence and data under the sun […]
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In a reversal of what happened in Valens’ day, the migrant flow is now going north from the Danube towards Germania rather than south, although there is a new empire that is to be shaken by such a move and that is no longer ruled from the south. Having wagged her imperial finger at the […]
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Invest in an oil major such as Exxon or Chevron and there are two over-riding factors to consider. The first and probably obvious one for Groups which traditionally make over three quarters of their income from pumping oil and gas out of the ground is the price of oil. While an oil spill and >$40bn […]
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How should we interpret this week’s volte-face by Tsipras and the Syriza government in approving austerity concessions to the Troika that had been specifically rejected by Greek voters in a referendum less than a week before? Short term, this would seem to provide an opportunity for celebration for creditors and financial markets in that the […]
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Greece votes a resounding 61% “No†to the Troika debt proposals, yet financial markets remain largely unfazed, with European equity markets declining initially by less than 2% and 10 year bond yields for Italy, Spain and Portugal harden by less than 10bps. With traders having been weaned on a succession of last minute resolutions to […]
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