Yearly Archives

2015

The Danish krone problem

In the wake of the turmoil surrounding the Swiss Franc, the Danish krone has become the subject of speculative attack. Unlike the Swiss, the Danes have a peg to the euro that is permanent and long-lasting. They also have a backstop via a…

Reasons the Fed won’t raise rates

I had been intending to write this post as a counterpoint to what I wrote yesterday about curve inversion. The Chief bullet point was going to be about the Fed’s not wanting to create curve inversion. But with the Swiss National Bank move,…

Pie in the Sky

We are still in a post-crisis environment, and enough people are still negative on equities, and interest rates are low enough, to provide plenty of purchasing power. We therefore expect it to be an ok period for equities over the next year…

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