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ECB Does Nothing, Indicates Monetary Tightening
Leaving its key interest rate unchanged at 1% on Thursday, the European Central Bank (ECB) appears to remain in standby mode, keeping financial institutions flush with cheap liquidity. The only new twist in President Jean-Claude Trichet's repetitive flood of calming words came in the Q&A; ...
The Dollar As A Funding Currency
The Dollar As A Funding Currency
fistfulofeuros.net — Nouriel Robini is not a man who is known for mincing his words. “We have the mother... of all carry trades,” he tells us, “Everybody’s playing the same game and this game is becoming dangerous.” There is a “wall of liquidity” sweeping the planet, pushing asset prices ever higher in one country ... (more) The Dollar As A Funding Currency
We must not be too late with starting the Big Exit
ft.com — Central bankers all over the world are asking themselves the same question: when is the time to... start the Big Exit? It surely cannot be now, or can it? I suspect the right answer is: perhaps not now, but earlier than you think. Exiting will be a ... (more) We must not be too late with starting the Big Exit
A New Spectre Is Haunting Europe, A Spanish One
A New Spectre Is Haunting Europe, A Spanish One
fistfulofeuros.net — A spectre is haunting Europe, but this time it is not the spectre of revolt by the... popular masses, or even one of yet another wave of bank bailouts. No, the spectre which is currently stalking the corridors of Europe’s most prestigous institutions is one of a Spanish economy which stays ... (more) A New Spectre Is Haunting Europe, A Spanish One
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