Trichet: Seeing What You Want

ECB President Trichet remained hawkish in comments today, noting that inflation is persistently above the target of just below 2%. Yet ECB monetary policy is not base don one pillar but two. The other pillar is money supply. Money supply…

Portugal Government Under Pressure

Rumors of a missed coupon payment in Ireland made the rounds and many now are down playing it. However, the problems in the periphery have not lessened. The real immediate focus is on Portugal. The government's new austerity measures will…

Looking Past Canadian Retail Sales

Canada reported weaker than expected retail sales report. Instead of a 1.0% rise in January, StatsCan reported a 0.3% decline. Weakness was especially noted in the ex-auto component which was flat instead of up 0.7% as the consensus…

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