No one is getting excited about the FOMC meeting tonight, which is exactly Powell & Co’s plan. By choreographing and telegraphing the taper well in advance, the Fed hopes the nominally tighter monetary policy will…
Meanwhile in markets, risk-off undertones pervade because of the Evergrande saga, but that isn’t leading to a flight to quality (at least not yet). While most major markets in Asia are closed this morning because…
Meanwhile in markets, Bunds and Treasuries have staged a remarkable recovery on the lower than expected US inflation reading on Tuesday. Surprisingly, equities are down over the past weeks. Which means there’s another BTFD opportunity….
Today’s ECB-only Comment is divided in two parts. A one-pager previewing today’s meeting (first part). And an in-depth analysis on the effect of bond buying and TLTROs on liquidity conditions in the next twelve months…
Predictably, markets are off to a quiet start this morning because the US closed for the labor day holiday. Equities in the Asian session are mostly up, with the Nikkei leading the pack. In fact,…
Turns out this year’s Jackson Hole was a non-event as Chair Powell, despite a the recent barrage of hawkish Fed-speak, remained stubbornly dovish. The takeaway form Friday’s speech: the actual tapering of bond buying will…
