Category Archives: Monetary Policy

Heads Up: Bernanke on 60 Minutes

Posted on December 3, 2010 by macromon

(CBS) In a rare and frank interview, Federal Reserve Chairman Ben Bernanke talks to “60 Minutes” correspondent Scott Pelley about the troubled economy and the measures the central bank has taken to improve it for a segment to be broadcast … Continue reading →

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Curse of a Strong Currency: Australia’s Growth Stalls

Posted on December 1, 2010 by macromon

In a world of competitive devaluations, Australia is now the poster child of why countries are fighting to keep their currencies cheap.  The government announced Q3 GDP grew just 0.2 percent, bringing down the annual growth rate from 3.3 percent … Continue reading →

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Euro Trashed!

Posted on November 29, 2010 by macromon

Dennis Gartman (click here for video) said today the Euro has “almost terminal problems”and eventually “breaks apart”  into a Northern Euro and Southern Euro.  The currency broke its 200-day moving average against the dollar and looks headed to a very … Continue reading →

Posted in Black Swan Watch, Bonds, Currency, Euro, Monetary Policy, Sovereign Risk | Tagged , , , | Leave a comment

Don’t Fight the Bank of Japan!

Posted on November 22, 2010 by macromon

The Nikkei 225 has been flying, while the global markets are down to flat,  since the November 5th Bank of Japan announcement that it would be purchasing equity ETFs as part of its QE program (click here for our post).   … Continue reading →

Posted in Equities, Monetary Policy, Policy | Tagged , , | 1 Comment

Republicans Pound Fed, “Lasso” Gold Rally

Posted on November 17, 2010 by macromon

On September 30th we wrote (click here)  of the “hard money inclinations” of the Republicans and how a electoral victory may put pressure on the Federal Reserve to reign in their money printing.  On election night, we also posted the … Continue reading →

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10-year Treasury Bond Rate At Key Resistance

Posted on November 15, 2010 by macromon

We’ve posted several pieces on the Treasury market about the bond’s positive technicals versus poor fundamentals.   The 10-year rate is now close to  piercing through key resistance at 2.83 percent.   It is difficult to fundamentally determine why rates are moving … Continue reading →

Posted in Black Swan Watch, Bonds, Credit, Equities, Fiscal Policy, Monetary Policy, Sovereign Risk | Tagged , , | 2 Comments

China, Commodities Slammed on Tightening Fears

Posted on November 12, 2010 by macromon

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 →

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Jeremy Grantham CNBC Interview

Posted on November 11, 2010 by macromon

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 , , | 1 Comment

Quote of the Day

Posted on November 10, 2010 by macromon

“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 →

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Dilma Rousseff – “The last time there was a series of competitive devaluations…it ended in world war two.”

Posted on November 9, 2010 by macromon

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 , , , | 1 Comment