The dollar bounced nicely over the past two days, mainly on Mario Draghi’s talk of easing in June. The Dixie regained its 9, 21, and 50-day moving averages in Friday’s trading. Let’s see if it can gain some traction.
It should given the economic and monetary fundamentals, but what is obvious in macro is usually wrong.
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Click on table to enlarge and for better resolution
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In Economics: The User’s Guide, which he will talk about in this public lecture, bestselling author Ha-Joon Chang explains how the global economy works, and why anyone can understand the dismal science. Unlike many economists who claim there is only one way of ‘doing economics’, he introduces readers to a wide range of economic theories, from classical to Keynesian to institutionalist to Austrian, revealing how they all have their strengths, weaknesses and blind spots. By challenging the received wisdom, and exposing the myriad forces that shape our economic life, Chang provides the tools that every responsible citizen needs to understand – and address – our current economic woes.
Ha-Joon Chang teaches economics at Cambridge University. His book 23 Things They Don’t Tell You About Capitalism was a no.1 bestseller and was called by the Observer ‘a witty and timely debunking of some of the biggest myths surrounding the global economy.’ He is a popular columnist at the Guardian, and a vocal critic of the failures of our economic system. – LSE
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Note the fairly significant divergence between the S&P500 and Russell 2000. We’ve noted in past posts that the divergence may signal a coming stock correction, which, in fact played out. See here and here.
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Simon Lack, former managing director at JPMorgan and author of ‘The Hedge Fund Mirage’, talks to John Authers about problems for hedge fund performance after the crisis.
For more video content from the Financial Times, visit http://www.FT.com/video
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Global Macro Monitor 