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Category Archives: Commodities
Where is Gold Headed?
In 1996, we visited the Bulgarian central bank at a time when the country was experiencing economic turmoil and a loss of confidence that the government could rollover its maturing debt. After a long discussion on the domestic economy and … Continue reading
Posted in Black Swan Watch, Commodities, Currency, Euro, Fiscal Policy, Gold, PIIGS, Policy, Politics, Sovereign Debt, Sovereign Risk
Tagged ECB, Euro, Gold, Greece, Ireland, Italy, PIIGS, Spain
1 Comment
Equity Bulls Battle on Two Fronts
The slow improvement of the U.S. economy, reflected in weekly jobless claims, coupled with QE2 is providing an underlying bid to the equity market, which is surprising to many, given the increasingly ugly global macro picture. On the Western Front, … Continue reading
Posted in China, Commodities, Currency, Equities, Geopolitical, Japan, PIIGS, Rare Earth Elements, Sovereign Debt, Sovereign Risk
Tagged Equity, Jobless Claims, U.S. Economy
1 Comment
China, Commodities Slammed on Tightening Fears
Bloomberg sums it best, The Shanghai Composite dropped 4.6 percent this week, halting a six-week rally, following government reports showing inflation is accelerating and that the government may further increase rates after boosting borrowing costs last month. Consumer prices jumped … Continue reading
Posted in China, Commodities, Equities, Monetary Policy
Tagged China, Monetary Polcy, Shanghai, Tightening
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Jeremy Grantham CNBC Interview
Run don’t walk to CNBC’s extended interview with Jeremy Grantham, chief investment strategist at Grantham Mayo Van Otterloo (GMO). Click here for the interview. He begins commenting on the Fed’s attempt to stimulate growth through the “wealth effect,” noting that … Continue reading
Posted in BRICs, China, Commodities, Crude Oil, Currency, Equities, Gold, Monetary Policy, Policy, Whales
Tagged Equites, Jeremy Grantham, Wealth Effect
1 Comment
Quote of the Day
“Global imbalances lie at the heart of the current recession; failure to address them will abort recovery and lead to currency wars. Gold can play a minor part in the necessary rebalancing, as Mr Zoellick suggests – although history shows … Continue reading
Posted in Bonds, China, Commodities, Fiscal Policy, Monetary Policy, Politics, Sovereign Risk
Tagged Currency Wars, Gold, Robert Skidelsky
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Peru to Sell First 40-Year Bond
Wow! Seems like just yesterday Peru’s hard currency debt was trading at 8 cents. Actually, it was 1993. Remember President Alberto Fujimora? Bloomberg writes, Peru plans to sell 40-year debt in the international market for the first time as … Continue reading
Dilma Rousseff – “The last time there was a series of competitive devaluations…it ended in world war two.”
These are harsh words from Brazil’s president-elect Dilma Rouseff, who was speaking at a joint press conference with outgoing president, Luiz Inacio Lula da Silva last Wednesday. She joins a chorus of world leaders condemning U.S. monetary policy and sets … Continue reading
Posted in BRICs, China, Commodities, Currency, Gold, Monetary Policy, Policy, Politics
Tagged Brazil, China, Dima Rouseff, G20
1 Comment
G20 Risk: “China says G20 should monitor US Fed” – SMH
Though the ugly bond auction got the headline, there’ s no doubt part of this afternoon’s reversal in many key stocks and commodities was partially caused by concern the G20 may turn into a fiasco as members use the occasion … Continue reading
Posted in Commodities, Equities, Gold
Tagged Federal Reserve, G20, Gold, Monetary Policy, QE2
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Chart of the Day: Sovereign Debt and Capital Flight
We thought this to be a very informative chart, which shows the percentage of a country’s sovereign debt held by domestic and foreign residents. In general, the more a country’s debt is held by foreigners the higher the risk of … Continue reading
Posted in Black Swan Watch, Bonds, Commodities, Credit, Currency, Fiscal Policy, News, Policy, Sovereign Risk
Tagged Greece, Ireland, Sovereign Debt
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Quote of the Day
I predict that the unemployed in this country who will face the inevitable inflation of this money-printing will find little joy in watching Indonesian stocks rise further. – Howard Simons
Posted in China, Commodities, Currency, Monetary Policy
Tagged Bubble, Emerging Markets, Monetary Policy
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Global Macro Monitor 