Chart of the Day: Guess what the best performing asset market is
Here is a chart of the relative performance of various asset classes over the past year. One asset class outperforms the others… by a wide margin.
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Browsing Tag
currencies
Mosler: The Speech that President Obama Should Make
Warren Mosler has three proposals specifically designed to get sales up to make sure business has a good paying job for anyone willing and able to work. He arguess that's good for businesses and all the people who work for them and says…
UBS: Euro break-up – the consequences
The following is excerpted from today’s UBS research note by Stephane Deo, Paul Donovan and Larry Hatheway on the consequences of a euro break-up. The full note is embedded below.
SNB Pledges New Managed Float to the Euro
Morning dominated by SNB’s decision to target EUR/CHF at 1.20; European stocks marginally higher. German August orders slumped -2.8%, first drop since March; US service-sector ISM key report today. In the EM space, China's economic growth…
IOUs Denominated in National Currency
On a floating exchange rate, the government’s own IOUs—currency—are nonconvertible in the sense that the government makes no promise to convert them to precious metal, to foreign currency, or to anything else. Instead, it promises only to…
Dollar Firmer As Euro Zone, Global Growth Worries Still Intensify
US dollar broadly firmer vs. majors as global growth concerns, euro zone tensions pick up. Merkel's CDU lost weekend election in her home state of Mecklenburg-Western Pomerania. Risk assets under pressure, Swiss franc still outperforming;…
Why Made in China Costs More in China
Chinese goods cost more in China because of currency, taxes, transportation,logistics and inflation. The Chinese get the jobs, while Americans get the consumer products; The Chinese government gets the dollar, but the U.S government gets…
Risk sentiment has soured sharply in the run-up to the NFP report
Dollar is mostly firmer against the majors as recent risk rally stalls; US NFP is major focus today. Euro zone jitters pick up after troika suspends Greek talks temporarily; Italy also back in focus. EM sentiment remains poor after Brazil…
Should our government borrow more at negative real interest rates?
If real returns remain low, it will skew capital investment. When recession hits, debtors backing those losing investments will be caught out and forced to delever aggressively as resource misallocation becomes evident.
Brazil Surprise Rate Cut To Weigh On BRL
While most EM central banks have moved into dovish wait-and-see stances, very few have cut rates during this cycle. Besides Brazil, only Turkey has this distinction and we’ve seen markets punish the lira in recent weeks. While the…