2011

European stocks rally for a fourth day ahead of outcome from ECOFIN meeting; US futures tread lower. Coordinated policy action good step; further support for EFSF/Greece needed to hold momentum. CNY continues to be used by Beijing as a tool…

We continue to be amazed at the eagerness of the market to rally in the face of negative fundamental data. The U.S. stock market rallied today on the news that the European Central Bank is getting together with other Central Banks (Bank of…

Today’s announcement that the ECB has coordinated with the Fed to give unlimited US dollar access to European banks through year-end was taken positively by markets. The euro strengthened and equities rallied. Clearly, this was something…

It remains my position that Congress should not allow the Fed to lend unsecured to foreign central banks without specific Congressional approval. But the Fed does currently have that authority and they are again using it to keep $ LIBOR…

A statement by the Bank of England on market liquidity to be provided in co-ordination with other major international central banks.

One theme that has captured the imagination of many investors has been the debasement of paper money and the dramatic rise in gold prices. Gold has risen 27.6% in dollar terms thus far this year (24% in euro terms, which reflects 3% euro…

What Sinn is making plain is that Greece’s balance of payments problems would not go away if Greece were to remain in the euro zone. And this would mean more indebtedness and further transfers to Greece down the line when they get into…

The Libertarian Three-Step Program | Bleeding Heart Libertarians "Why didn’t the patient buy insurance? Because the price was too high. Why is it so high? Talk about the specific ways in which…

The European Central Bank was once known for its focus on price stability. Since the global economic crisis, however, its role has extended to saving banks and sovereign countries. This column argues that such a move has badly harmed the…

Market sentiment continues to improve as Greek steps back from the abyss (again); RBNZ holds. EUR/USD trades near 1.38 amid improving backdrop; market likely to focus on data in today’s session. Russia’s rate move seen as technical move to…