14 September 2017
Markets and central banks
US bond yields yoyo in early September
The first full trading week of September 2017 saw US interest rates breach the lower end of their recent range, […]
14 September 2017
13 September 2017
Markets and central banks
European banking: set to shrug off slow revenue growth
European banks have frequently been in the headlines of the financial media this year. We have seen bank bailouts in […]
18 August 2017
Markets and central banks
How big an influence does central bank policy have on listed real estate?
The performance of global listed real estate markets will be sensitive to how central banks behave over the next few […]
01 August 2017
Markets and central banks
Seen as more dovish, Janet Yellen shifts focus back to below-target inflation
Fed Chair Yellen, delivering testimony to the US Congress, had been expected to stick to her guns with a hawkish […]
21 July 2017
Markets and central banks
Reflationary talk on the wane at the ECB’s monetary policy meeting
Overview At their monetary policy meeting in Frankfurt on 20/07/17 the European Central Bank’s (ECB) Governing Council announced that : […]
05 July 2017
Markets and central banks
Who’s right on the future trend in US inflation – the Fed or the market?
The gap between the US Federal Reserve’s (Fed’s) projection for its policy rate at the end of 2019 and what […]
23 June 2017
Investing
Fed balance sheet runoff and the outlook for MBS
Speculation about the Federal Reserve’s (Fed) balance sheet — and specifically, what the future path towards its normalisation may look […]
20 June 2017
Markets and central banks
Are central banks getting ahead of themselves?
Recent US economic data has clearly disappointed as shown by our economic surprise index (which calculates an average value for […]
15 June 2017
Markets and central banks
No lack of confidence in the inflation outlook at the US Federal Reserve
The Federal Open Market Committee (FOMC) shrugged off a third consecutive weak print for the core consumer price index (CPI) […]
14 June 2017
Markets and central banks
Central banks edge slowly towards the (QE) exit (despite lowflation)
As expected, the European Central Bank (ECB) left its policy rates and its asset purchase programme unchanged at its meeting in […]
29 May 2017
Markets and central banks
Some thoughts on the pace of economic growth in the eurozone
Quarterly eurozone GDP expanded by 0.5% in the first quarter of 2017. It’s the same pace as during the final quarter of 2016 […]
26 May 2017
Markets and central banks
GDP growth in Japan on a positive roll but no change to the big picture
Official data published on 18/05/17 showed first-quarter growth in Japan of 2.2% quarter-on-quarter (QoQ) annualised. This was higher than expected […]
16 May 2017
Markets and central banks
Is the US reflation trend faltering?
One disappointing data point can be dismissed as a blip, but two could be the start of an unwelcome trend […]
21 April 2017
Markets and central banks
Q: Will inflation rise in the US without fiscal stimulus ? (A: Yes)
Upside risks to inflation have decreased as a result of US political developments during the first quarter Developments over the […]
18 April 2017
Markets and central banks
Headwinds for the US dollar
Federal Reserve (the Fed), ECB, Trump policy and the French election have been among the factors moving the US dollar recently […]
12 April 2017
Markets and central banks
For the ECB, it’s taper-pause-hike
There has been confusion in financial markets about the order in which the ECB would taper and ultimately remove monetary […]
24 March 2017
Markets and central banks
US economy still not at escape velocity
At their meeting on 14 – 15/03/17 the Federal Open Market Committee (FOMC) voted to raise the target range for […]
16 March 2017
Markets and central banks
No surprises – US Federal Reserve increases interest rates as expected
Key points : As widely anticipated the Federal Open Markets Committee (FOMC) raised its target range for the federal funds rate […]
