Category Archives: Monetary Policy

ECB Prepares to Cut Rates

Posted on December 6, 2011 by macromon

(click here if video is not observable)

Posted in Currency, Euro, Monetary Policy | Tagged , | 2 Comments

The Biggest Bubble in History?

Posted on November 14, 2011 by macromon

We are baffled by the analysis of the analyst community, some, of which, are not so analytical.  They say that  Europe’s fundamental problem is that it  has a central bank which is unwilling to monetize sizeable debt maturities which bondholders … Continue reading →

Posted in Black Swan Watch, Bonds, BRICs, Budget Deficit, Commodities, Credit, Currency, Euro, Monetary Policy, PIIGS, Sovereign Risk, State and Local Government | Tagged , , , , , , , | 17 Comments

Super Mario’s Rate Cut

Posted on November 3, 2011 by macromon

We like this guy. (click here if video is not observable)

Posted in Euro, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

Super Mario’s dilemma, inflation fighting vs stimulus

Posted on October 31, 2011 by macromon

(click here if video is not observable)

Posted in Euro, Monetary Policy | Tagged , , , | Leave a comment

Most Important Spread in the World

Posted on October 23, 2011 by macromon

Given the bank recapitalization plan announced over the weekend,  the France national government may be on the hook to help recapitalize and backstop its banking system.  The markets will be full of noise in the next few days and we … Continue reading →

Posted in Credit, Euro, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , | 2 Comments

Europe’s Stressed Out Banks

Posted on October 10, 2011 by macromon

The Wall Street Journal reports Euro-zone banks’ overnight deposits at the ECB increased again last week “reflecting deepening distrust in interbank lending markets.”  The Journal writes, Overnight deposits Friday rose to €255.57 billion ($341.88 billion), surpassing Thursday’s 2011 high of … Continue reading →

Posted in Black Swan Watch, Credit, Euro, Monetary Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | 4 Comments

Short-term Tricks for a Long-term Structural Crisis

Posted on October 4, 2011 by macromon

Good interview with Jeffrey Sachs on CNBC today.  He nails it 1:26  into the interview: We are fighting a long-term structural crisis with short-term tricks, like stimulus and temporary tax cuts. It’s not working…. The solution is actually to pull … Continue reading →

Posted in Earnings, Fiscal Policy, Monetary Policy, Quotes | Tagged , , | Leave a comment

Spiegel: Obama “like a doctor caught prescribing performance-enhancing drugs”

Posted on October 3, 2011 by macromon

Go no further than the Der Spiegel piece, Why Europe Is Right and Obama Is Wrong, to understand the fundamental differences between American and German thinking on fiscal and monetary stimulus. Michael Sauga, the author, writes, American economists, central bankers and fiscal … Continue reading →

Posted in Black Swan Watch, Fiscal Policy, Geopolitical, Monetary Policy, Policy, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

QE and the “Crowding Out” of the Bond Market Vigilante

Posted on September 29, 2011 by macromon

We’ve updated our chart of the sources of financing of the U.S. budget deficit from the Fed’s Flow of Funds data released on September 16th.   The chart illustrates how the Fed and foreign central banks have been indirectly fully … Continue reading →

Posted in Black Swan Watch, Bonds, Budget Deficit, Charts, Fiscal Policy, Monetary Policy, Sovereign Debt | Tagged , , | 5 Comments

Problems in China’s Financial Sector Escalate

Posted on September 27, 2011 by macromon

(click here if video is not observable)

Posted in China, Monetary Policy | Tagged , , | Leave a comment