Japan and China: Small Beer

Understanding the financial agreement within the context of that rivalry is more important than what it means for the future of the dollar as the world's more important reserve currency, invoicing currency and vehicle currency. Nor will…

Classic Buy Rumor Sell Fact after LTRO

The euro extended its rally to a six day high, just shy of $1.32 before the results of the ECB's allotment. The results were at the upper end of expectations and the euro was returned to session lows. A classic buy the rumor of a strong…

ECB’s Long-Term Repo Operation

Following the 1-year repo in June 09, there had been market talk of the money going into the short-term Italian and Spanish bonds. Yet we don't expect as much of new carry trades some officials might wish. The lion's share of the funds LTRO…

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