Since ECB president, Draghi’s ‘bumble bee’ speech, we have seen the return of volatility and can expect a tightening of ECB committment to the euro.
The statement published after the Federal Open Market Committee (FOMC) meeting on 17 June 2015 was largely in line with […]
What a difference a few weeks make. Since mid-May, much of the concern over the loss of momentum in the […]
In the first week of June, volatility in European and US sovereign debt markets picked up again after a two-week […]
The ECB’s bond purchases could lead to a scarity of government bonds. Sovereign issuance in the eurozone was strong early this year but it will shrink.
Recent events have seen a sharp reversal of market trends, with the PBOC cutting benchmark interest rates and the ECB’s tightening of financial conditions.
Portfolio rebalancing is occurring slowly. This shows that the effects of QE are happening gradually, and not that QE is having a less desired impact.
Assets managed by official institutions have risen significantly in recent years making them a powerful force in financial markets. A […]
Weaker-than-expected US data in Q1 and broadly lower sovereign yields has fixated fixed income investors on how the FOMC will react to the recent data.
Spring is here. Equity markets are soaring, the euro is falling. It would appear that the European Central Bank (ECB) […]
US economic data—which had already been trending weaker—came in even worse than expected on Friday, April 3, with a disappointing […]
Since the end of the Bretton Woods exchange rate regime in 1973, the US dollar has undergone protracted periods of […]
Will the recent decline in inflation impact the path of US monetary policy rates in the near term? Inflation has […]
On March 18, the Federal Open Markets Committee (FOMC) statement came in firmly in line with market expectations, with the […]
The efficient market hypothesis (EMH), which posits that market prices fully reflect all available information, has inspired a lot of […]
The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of “the conduct […]
The ECB has, for the first time, published an account of a monetary policy meeting held by its governing council. In so doing the ECB joins the ranks of other leading central banks and provides greater transparency on the factors affecting its decision making.
Summary Bund yields are now at levels implying that the eurozone has gone ‘Japanese’. We think this conclusion is premature. […]