liquidity

This morning I made the argument that the global economy is growing across the breadth of developed and developing economies. I still have a problem with Europe though as I believe the risk is to the downside. Basically, the policy response…

I spoke at a Euromoney conference on inflation-linked products last year. My thesis at the time that deflation is the real problem and that inflation isn't going to be a concern - which has largely proved right - was out of step with most…

By Marc Chandler Today, ECB President Draghi essentially repeated his comments from last month. The key is that rates will remain at current levels or lower for an extended period and, although the economy is gradually recovering, growth…

Glass-Steagall is dead. Rather like Soviet-era Communist leaders, it has been officially dead since 1999, and actually dead for much longer. Though there was no state funeral, the body was not embalmed or put on display and few people…

The sharp jump in China's short-term rates has been nearly reversed. Repo rates are approaching their longer-term averages, with the PBoC coming to its senses and addressing the liquidity squeeze.

In the links today, the biggest threads outside of the NSA scandal were on Greece and Europe. I believe the economy there is bottoming and I want to discuss some of the news flow. There was also a rate decision by the Japanese central bank…

ECB President Draghi suggested last week that the central bank was taking a fresh look at the deposit rate. There does not appear to be any economist that thinks it is a good idea. The reasons vary, but the two main reasons are that it…

Portugal is going to market with a 10-year sovereign bond issue, its first since 2011. I think this is a pretty big deal. Think of it as a complete return to public market access for the Portuguese government, one of the critical…

I just finished watching the ECB's monetary policy committee press conference led by Mario Draghi. And the ECB has just announced a series of actions I believe constitute a new economic paradigm for the euro area, one that moves away from…

Italy is getting closer to putting together a grand coalition government. This has always seemed to us the most likely scenario, but the route to it has been circuitously torturous. Three considerations have led to President Napolitano…