Tag Archives for " QE "

‘Moar’ central planning call by new ECB chief

“Moar, Moar and Moar” seems to be the message from the ECB’s new president, Christine Lagarde in her first speech in that role. ‘Moar’ EU and EMU, ‘Moar’ fiscal loosening and therefore ‘Moar’ monetary indulgence that will be needed to pay for it. Perhaps more worrying however, was the central planning sub-text running through this […]

Continue reading

What equity valuations might be trying to tell you!

Hang on, according to the ‘experts’, this wasn’t supposed to happen! Having been fed a diet of gloom by everyone from Hedgies (Bridgewater), Academics/Economists (Dartmouth/MITI/Krugman), Banks (Citi) and wealthy investors (Mark Cuban – see end for links) should Trump get elected, markets have done what they do best and confound the experts, with US equity […]

Continue reading

“Beware the Ides of March” – FOMC rate increase more likely after February’s US jobs data

“And standing here tonight, I’m afraid that I don’t hear – a – thing. Just… silence. …” John Tuld – Margin Call   We are approaching what may prove to be a formative FOMC meeting on 15-16 March. After earlier macro growth fears out of China and a widening cadre of central bankers going full retard with NIRP, there […]

Continue reading

Market complacency may be its undoing

Welcome to the Q1 reporting season. If you hadn’t noticed yet, Easter came early this year (good for retailers, airlines etc) and there is a minefield of shifting currencies and commodity prices to adjust for as well as some decidedly mixed macro data coming out from the major trading economies. If you’re selling out of […]

Continue reading

November non-farm payrolls – Bah Humbug!

I can hardly contain myself with excitement. US non-farm payroll data for November is out and the headlines are that the +321k MoM additions (+314k for the more relevant Private sector jobs) “smashes forecasts” (Guardian) and that “The dollar has gone through the roof” (City AM). With another month of unemployment at only 5.8% (try […]

Continue reading

WPP FY14 interims: flat margins on >+4% organic sales

WPP :   The group is tightening the screw on hiring and staff costs to absorb slowing net sales growth while maintaining the public forecasts of rising GDP and advertising expenditure into 2015. The hitherto growth engine markets of BRIC however, are looking increasingly wobbly, while the contraction in margins at the digitally heavy specialist communications […]

Continue reading