currencies

There are a number of market, economic and political threads I want to comment on as we end the week. In terms of my mood, having digested the recent economic and political news, I am actually hopeful. I think the prospect of recession and…

So, yesterday I parsed the EU sentiment data from the EU's early expansion period. And what we saw was rising support for the EU right up until 1991. But after that time, support for the EU collapsed and has never recovered. I want to look…

Emerging market equities are in a bear market as of today. So, right now, everyone seems to be talking about contagion in the emerging markets. As the day began, the US dollar was posting gains against most currencies, emerging market and…

Short-term and long-term interest rates in the US have overtaken those in Australia for the first time in a number of years, with the Reserve Bank of Australia predicted to be on hold for another two years. This makes funding via US…

I am looking at the emerging markets turmoil as fundamentally strong dollar-driven. But other central banks may enter the picture soon.

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I don't think we are at a point yet where what's happening in Turkey can be called an emerging markets crisis. Right now, it's mostly about Turkey, though there are signs of contagion via currency effects and concerns about creditors of…

The Turkish central bank has days to stop the currency freefall before we see defaults.

1 big thing: Trump lambasts Fed rate hikes In an interview with CNBC, US President Donald Trump said “I’m not thrilled,” with the Fed's monetary policy. He continued by saying, “because we go up and every time you go up they want to raise…

This is Credit Writedowns daily newsletter for 19 Jul 2018. The big issues: the US economy, Fed policy, currencies, trade and government deficits.