Brexit poll creates UK, euro interest rate rise risk
26th February 2016 by

Financial markets are very bad at evaluating political risk.  They assume people will always be rat...

If only the central banks could print babies
19th February 2016 by

The Financial Times has kindly printed my letter below, arguing that central bank stimulus can’...

Tokyo, Shanghai stock markets fall; yen rises 8% in 2 weeks
15th February 2016 by

Pity poor Janet Yellen, you might say.  The head of the US Federal Reserve told the Senate last wee...

Great Unwinding sees oil fall 65%; US$ rise 22%; US 10-year rates rise 25%
4th January 2016 by

The Great Unwinding of policymaker stimulus was the major issue in financial markets in 2015.  And ...

ECB President has New York temper tantrum as Board blocks major new stimulus
7th December 2015 by

“There is no doubt that if we had to intensify the use of our instruments to ensure we achieve our...

EU warns euro may disappear as political, economic risks rise
4th December 2015 by

The excellent new Spielberg movie, Bridge of Spies, vividly captures the building of the Berlin Wal...

Gloom turns to boom as US economic data disappoints, again
1st June 2015 by

“If only US GDP growth could remain negative in Q2, what a lot of money we could make”. ...

US watchdog warns on today’s “quicksilver markets”
23rd March 2015 by

What could go wrong in today’s financial world?  Many stock markets in the West are hitting...

China exports deflation to the West
4th March 2015 by

Unfortunately, the European Central Bank (ECB) does not read the blog, or yet subscribe to ‘The pH...

Eurozone joins Japan’s ‘currency war’ versus the US dollar
26th January 2015 by

The last 10 days have seen turmoil in major currency markets: The Swiss National Bank gave up trying...

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