Credit Writedowns

By Markus K Brunnermeier and Yuliy Sannikov This post originally appeared on Vox and represents what this site believes is a very likely action the ECB could take for monetary easing later this week. Eurozone monetary policy transmission…

Today’s post is a potpourri of events I am seeing from around the world that impinge on macro. Europe. As expected, European consumer price inflation came in at 0.5% following the unexpected dip in German inflation. I believe the ECB will…

Europe remains a jobless swamp, despite the Spanish miracle – Telegraph Blogs Lehman Lesson Lost as Bank Lobby Gains Clout, Swedish Leader Says - Bloomberg Australian House Prices Take a Breather - Real Time Economics - WSJ ECB Officials…

The European data out today were not particularly good. We saw a deceleration in the eurozone economy, that when combined with the deceleration in German inflation, suggests that deflationary forces could still threaten a debt deflationary…

Spain aims to boost recovery with €6.3bn stimulus package - FT.com ekathimerini.com | Greek PMI at 51 points in May as eurozone manufacturing slows 'I gave up on looking for a real job' - What rebound? 'I got left behind' - CNNMoney…

Money supply and LEI in the US are pointing down Fed hawkishness is increasing Credit excesses continue in high yield

Belarus plans to bring back serfdom – beyondbrics - Blogs - FT.com Dish Network to Accept Bitcoin Payments - WSJ Hard-hit Spain is turning the corner | South China Morning Post US money slump flashes warnings as economy contracts -…

US GDP fell 1.0% in Q1 2014 according to the revised estimate released by the the US Bureau of Economic Analysis. A sharp downward revision was expected but this revision was unusually sharp and calls into question the continuing meme that…

By Michael Pettis It might seem almost churlish to wonder what would happen if Spain were to leave the euro. The official European position is that the battle of the euro has been pretty much won, and anyone who argues otherwise will be…

Russia forges huge economic bloc with Kazakhstan and Belarus | Reuters Spanish economy posts third straight quarter of growth - Independent.ie The internet of things — Benedict Evans Uber CEO: We're in a Political Battle with an…