Markets

"The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the…

I anticipate a large enough move toward limited fiscal integration in the coming days that enables the ECB to move toward a full monetisation euro area national debt by the end of the year. Interestingly enough, the initial reaction by…

Sean Egan, president of Egan-Jones Ratings Co., talked to Bloomberg Television yesterday about the agency's decision to cut Italy’s credit rating to BB from BB+. The rationale is simply that public debt in Italy is growing while GDP is not.…

Equities, most foreign currencies and commodities have rallied. It is not as if there has been a great deal of clarity over the weekend. There have been a number of press reports that have been suggestive, but some, like the report that the…

There have been several important developments over the weekend which are likely to support the euro at the start of the week, after falling for the past four consecutive weeks and recording a 7-week low before the weekend. However, I…

The central bank intervened aggressively in September-October to limit TRY weakness, but it does not have a huge war chest like Brazil or Asia. Reserves were $84.4 bln at the end of October, down 10% from a peak of $93 bln in July. Reserves…

Famous shortseller Jim Chanos was in Hong Kong and Australia and reported back on what he saw to Bloomberg Television. Copy provided below including a link to the video.

This morning the German government held an auction for 10-year money at just under 2 percent. The auction failed disastrously with a bid-to-cover ratio of just 1.1. The Germans wanted to issue 6 billion euros of 10-year bunds but managed to…

The US dollar is trading with a softer bias in what largely appears to be a consolidation. The euro held support near $1.34, sterling near $1.56 and Aussie near $0.9800. The news stream is light and corrective forces are seen in equities,…

First, there is a disagreement about whether the ECB should be buying a significant amount of European bonds. Second, there is a disagreement over whether the ECB should declare that is it buying bonds for an extended period or unlimited…