monetary policy

Last year Russia previously indicated it was thinking about adding Australian and Canadian dollars to its reserves.  More recently it said it was preparing to do just that.  At the end of last week, the ECB's Noyer opined that…

A post by Annaly Capital Management. There has been some chatter recently on the direction of traditional monetary policy (i.e., the Federal Reserve changing the Fed Funds target rate to influence the availability and cost of money and…

By Annaly Capital Management. We’ve made no secret of our love for the Federal Reserve’s Z.1 Flow of Funds report. The only thing more amazing than the impressive volume of data in the release is the lack of coverage it receives by the…

Hell, it seems, knows no fury like the financial markets being told you are about to become the next Greece. The poor Vice President of the election-winning Fidesz party, Lajos Kosa, had no idea what was in store for him when he calmly…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Two significant changes are pushing markets towards a shakeout. First,…

Well after a pretty hectic 48 hours being pursued all over the virtual globe by the economic and financial press, I am finally coming up for air. Those who don’t know what I am talking about might try this, or this, or this (etc). Actually…

Highlights The US dollar is softer across the board and is indeed at new lows for the week against most of the major currencies ahead of a relatively constructive string of economic data and rate hikes from New Zealand and Brazil, a…

Highlights US dollar was mostly softer vs. the majors, with EUR/USD trading above 1.20 briefly before falling back late in the day on US equity weakness.  Bounces remain hard to sustain, so once this period of consolidation ends, we…

Investors are still trying to get their heads around the SNB's preliminary indication that is reserves rose to CHF232 bln in May from CHF153 bln in April.  This represents more than a 50% increase in reserves in a single…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Investing in stocks is marketed as believing in America. Imbedded is the…