Monday, 01 August, 2016
http://www.telegraph.co.uk/business/2016/07/27/brexit-has-been-an-excuse-for-the-world-to-throw-a-roaring-party/ The great fiscal fair of 2016 has begun. The world’s governments are seizing on the flimsy excuse of Brexit to prime pump their economies, hoping to stretch the ageing global cycle for a little longer. Japan’s Shinzo Abe has kicked off the first round with a "shock and awe" fiscal package ostensibly worth $270bn, though the South Koreans nipped ahead of him with a $17bn raft of measures. Britain cannot be far behind as Philip […] Read More
Wednesday, 27 July, 2016
INSIGHT: RBA Aug Cash Rate Cut Chance Remains After Q2 CPI -Non-tradable CPI Up But In Line With RBA Forecast -CPI Data Unlikely To Change RBA View of "Quite Low" Inflation By Sophia Rodrigues SYDNEY (MNI) – Australia’s second-quarter inflation was in line with the Reserve Bank’s forecast and is unlikely to change the bank’s outlook of "quite low" inflation, which raises the prospect of a cash rate cut next week. The decision, however, would […] Read More
Thursday, 14 July, 2016
What the Banks are thinking: -BAML: expects BoE to cut the Bank Rate by 40bp on Thursday; MPC could split the cut over July & August meetings; a rate cut should come as no surprise; would use any sterling bounce as an opportunity to sell; even a more conservative 25bp cut could not provide any relief for GBP -Barx: expects MPC to maintain Bank Rate at 0.5% in July to allow MPC members time […] Read More
Friday, 08 July, 2016
Rates will rise if AAA rating falls by Christopher Joye, Updated Jul 8 2016 at 1:05 PM {www.afr.com/markets/market-data/bonds/rates-will-rise-if-aaa-rating-falls-20160705-gpz68x} Australia will likely lose its prized AAA rating and, contrary to the characteristically meaningless rhetoric of the politicians responsible for this outcome, interest rates will rise up to 0.13 per cent annually. But ironically not the rates the government pays – just those used by business, personal and residential borrowers. None of this will surprise this column’s […] Read More
Monday, 16 May, 2016
· OPINION · May 13 2016 at 11:45 AM RBA has lost the plot The RBA’s mistake is buying into the global central-banking mantra that governments can do a better job of setting asset prices than markets. Michele Mossop · Share on twitter by Christopher Joye Here’s the scary thing about the Reserve Bank of Australia’s decision to cut the cash rate to just 1.75 per cent. At a time of trend or better economic growth, […] Read More
Wednesday, 27 April, 2016
FED: Unch policy with no explicit hints about June–sort of a dove lite result. Does not add nearly balanced/balanced and removes statement on int’l risks, perhaps suggesting risks have lessened. Describes labor mkt as better but "econ activity appears to have slowed." No change in rates/reinvestment/no limit RRP, says infl remains low but will monitor infl and int’l developments. Keeps ‘gradual’ to refer to possible future hikes & says FF to remain low for some […] Read More
Wednesday, 27 April, 2016
ECB Update:Inflation Expectations Stuck Amid Sluggish Recovery By Johanna Treeck FRANKFURT (MNI) – The European Central Bank’s liquidity flush is slowly dripping through to the real economy, euro area bank lending data showed Wednesday, adding to evidence that the region continues its gradual recovery. Yet as neither ongoing growth, nor the announcement of more easing measures flanked by rising oil prices have managed to lift inflation expectations, concerns about the Bank’s credibility have resurfaced. The […] Read More
Wednesday, 06 April, 2016
NEW YORK (MNI) – After a welcome pause, the words "risk-off" returned to the markets Tuesday and the list of items is growing. The Treasury market was sounding alarm bells from the very start of the day. The longer-end of the market led and the curve continued in flattening mode. The yield on the 10-year note fell to 1.718% in overseas trade and retouched that level again in New York hours. The note had settled […] Read More
Thursday, 25 February, 2016
Sydney property: Don’t believe the Aussie big short Steve Keen said Aussie house prices would fall 40 per cent during the global financial crisis. They corrected 6 per cent. Demetrius Freeman by Christopher Joye Short the big short. First we had Dr Steve Keen telling us Aussie house prices would fall 40 per cent during the global financial crisis (they corrected 6 per cent and Dr Keen was forced by Westpac’s Rory Robertson to hike from Canberra to Mt […] Read More
Wednesday, 17 February, 2016
Amid signs of trouble, Abe rules out stimulus for now TOKYO — Despite signals that the Japanese economy is flagging, Prime Minister Shinzo Abe intends to keep pump-priming measures off the table for the time being to focus on swift passage of the fiscal 2016 budget. That strategy was confirmed when Abe met with Natsuo Yamaguchi, head of junior coalition partner Komeito, at the prime minister’s office on Wednesday. "Let’s focus on […] Read More
