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Economy
More from Bridgewater Associates’ Ray Dalio
Ray Dalio spoke to Barron's in an interview that appeared in the weekly this past weekend. The themes of the conversation were the following:
The world is on a dual track with emerging markets doing much better than developed…
Japan Will Recover
Our hearts go out to the Japanese because of the human tragedy that resulted from a devastating earthquake and tidal wave. I want to echo Dr. El-Erian's sentiments here. It will difficult and it will have globe-spanning consequences, but…
The dollar, the RMB and the euro?
By Michael Pettis
Barry Eichengreen had a very interesting piece in last week’s Wall Street Journal. In it he argues that we are approaching the end of the period in which the US dollar is the world’s dominant reserve currency, and…
Random Shots – Return of the Deflation Trade?
By Claus Vistesen
I recently asked my readers whether the global economy is in for inflation, deflation, or stagflation. Given that it may well be all three at different points in time, it seems as if recent market action suggests that…
Flow of Funds indicates businesses have stopped deleveraging
The Federal Reserve released the quarterly flow of funds report which allows one to see the debt levels outstanding in the U.S. economy. From the looks of it, deleveraging has not continued apace. UBS' Andy Lees writes: The Fed Z1 flow…
More Color on Spain, the Cajas and Moody’s Downgrade
By Marc Chandler The market continues to digest the meaning and implications of Moody's decision to cut Spain's rating to Aa2 from Aa1. The two main considerations behind Moody's decision is that the cost to restructure the banks will be…
Richard Koo on QE2, China and Balance Sheet Recessions
Below, INET's Rob Johnson interviews Richard Koo, Chief Economist at Nomura and author of the 2009 book "The Holy Grail of Macroeconomics, Revised Edition: Lessons from Japans Great Recession" on how his theory on the Japanese…
Chinese bill auction suggests another rate hike coming
China threw in a surprise trade deficit number this past month. However, It looks to be a one off. UBS' Andy Lees in London explains:
The February trade numbers slipped to a deficit of USD7.3bn. The number is usually volatile at this…
Stressing Out over European Bank Stress Tests
By Marc Chandler
The newly created European Banking Authority will be overseeing the stress tests on almost 90 European banks. Recall that the stress tests last year met broad criticism for the lack of rigor. It was anticipated that the…