2014

Today Credit Suisse confirmed our earlier assessment that the ECB will be shifting toward a looser monetary stance in the near future via "suspension of the SMP sterilization".

This post is about three different topics, Bitcoin and e-Payments, the Minimum Wage, and consumer spending and Walmart. There has been a lot of discussion about all three and I believe I have an innovative way to attack all three issues…

While the emerging markets are getting a bit of a reprieve today, it bears noting that the move to so-called safe haven assets and currencies has begun. This suggests to me that George Magnus’ warning about this emerging markets crisis must…

News links for 4 Feb 2014

China's plan seems to be to acquire a total of 6,000 tonnes of gold to put its holdings on a par with developed countries and to elevate the international appeal of the renminbi. Meanwhile in the futures market, the basic problem is that…

Today's ISM manufacturing PMI number spooked jittery US equity investors, sending stocks sharply lower (with VIX climbing above 20). The headline number came in about 9% below expectations. It seems that some of the manufacturing softness…

News links for 3 February 2014

Below are seven recent developments in Venezuela's economy

The issue should be well known for US economy watchers. The unemployment rate has declined noticeably but if we factor in the declining labour force participation rate the picture looks largely unchanged. Should the Fed, then, shift focus…

The investment climate has proven extremely difficult for investors to navigate. Fed tapering and better world growth was to lead to higher interest rates. Yet interest rates for the developed world have fallen sharply in recent weeks.…