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Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Markets

A few comments on the end of secular stagnation

Edward Harrison Feb 27, 2017

The failure of Japan’s grand monetary policy experiment to meet expectations is a warning sign we all should heed. But right now fears of so-called secular stagnation have receded as the global economy has roared back to life. We should not…

Economy

Why Japan’s monetary experiment has failed and what it means for everyone else

Edward Harrison Feb 27, 2017

Yesterday’s most interesting headline in the Wall Street Journal was “The World’s Most Radical Experiment in Monetary Policy Isn’t Working”. After reading it, the right questions to ask are “why isn’t the policy working?” and “what does…

Political Economy

Germany leading by example

Edward Harrison Feb 24, 2017

Here's an example of Germany's leading by example on fiscal policy.

Markets

Why the US Treasury should issue zero coupon consols

Edward Harrison Feb 24, 2017

Imagine you could issue 30- or 50-year paper today at 3 or 4%. And you have a strong suspicion that - in the future - 2-year paper won’t be 1.15% like it is today. You think it could be 4, 5 or 6%. Why not lock in the long-term rates of…

Markets

Why the Trump Administration’s calls for lengthening bond maturity make no sense

Edward Harrison Feb 24, 2017

The problem with the Trump administration’s talk about lengthening the maturity of debt issuance is that it confuses the future path of interest rates with the steepness of the yield curve. They talk about locking in low rates. And what…

Economy

Two things you should know about Germany’s budget surplus

Edward Harrison Feb 23, 2017

You probably heard that Germany recorded its third consecutive year of government budget surpluses. This year it was the highest full year surplus since German reunification - 24 billion euros. A lot of the commentary on this will stress…

Political Economy

Is Trump just a conventional politician who uses over-the-top bluster?

Edward Harrison Feb 23, 2017

Forget about the executive orders and Trump press conferences. This is all for show - reality TV, if you will. Concentrate instead on what actually happens, what policies are actually implemented and what impact this is going to have on the…

Political Economy

Why the election timetable favours the Five Star Movement in Italy

Edward Harrison Feb 23, 2017

Yesterday, I was talking to a veteran journalist based in Rome. He remarked that youth unemployment in southern Italy was 60% and that this was one of the biggest problems to deal with politically. The spectre of strong, able-bodied young…

Political Economy

The negotiations over Greece aren’t about Greece

Edward Harrison Feb 23, 2017

Earlier today, I was listening to an interview with IMF head Christine Lagarde dance around the issue of the unsustainability of Greece’s debt load. And she said something very telling. She said that debt haircuts were not on the table but…

Political Economy

Not All Germans Love The Euro These Days

Edward Harrison Feb 17, 2017

Bloomberg View had a good column today on the popularity of the European single currency. The article shows how the euro has gone from being unloved in Germany at introduction in 2002 to well accepted, while the opposite has happened in…

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