Tag Archives: central banks

FX 4 for Labor Day

By Andrew Busch | Published: September 5, 2011

Non-fattening food for thought on this Labor Day…..

1. Central Bank Blitz

Next week, there will be eleven central bank meetings. Australia, Canada, Sweden, Poland, South Korea, Indonesia, Malaysia, Philippines, Bank of England and the European Central Bank all gather to review the state of their economies and the future of their monetary policies. Given the recent downgrading of the global economic growth by the OECD and IMF, these meetings take on heightened importance.

Clearly, the highest profile meeting will be the European Central Bank or ECB due to the continued economic and financial stress in the Euro Zone. The … …READ MORE

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Global Macro Monday: Equities, Greece and Central Bank Bonanza

By Andrew Busch | Published: June 6, 2011

Equities

We start this week with global equities playing catch up to the drop on Friday in the US. We have now seen $2 trillion in value wiped out due to the drop in stock prices since the peak on May 5th. The S&P is down 5 weeks in a row. The reasons stem from a global drop in economic activity stemming from Japanese supply chain disruptions and US gasoline prices crimping consumer spending.

The data over the last month has remained weak and this culminated on Wednesday with the massive drop in ADP that foreshadowed the disappointing NFP and … …READ MORE

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Everybody on the QE2 Boat

By Andrew Busch | Published: October 5, 2010

The big story out last night was a Far East combo of central bank action and inaction. Both were a surprise. The action came from the Bank of Japan in their quest to stem the rise of their currency and to stimulate their economy. The BoJ started a program of quantitative easing that will see their balance sheet rise by $60 bln as they buy government bonds. They also said they would cut their benchmark rate from 0.1% to 0-0.1%.

The inaction came from the Reserve Bank of Australia, which kept their benchmark interest rate steady at 4.5% for the … …READ MORE

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Sweet Child Of Mine Outlook

By Andrew Busch | Published: November 3, 2009

The recent volatility in the markets is perplexing after what has been a very good quarter for earnings and a very good quarter for US economic growth. As my friends in the music industry say, “What’s up with that?” Why are we experiencing this and what does it mean for the rest of the quarter?

Taking a look back for context, the world stood at the abyss and then stepped back with over $12 trillion in global stimulus coming from governments and central banks. This was done to offset the dramatic drop in the global economies and to offset almost … …READ MORE

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Summary on the credit crunch at the Pacific Econ Conf. in Russia

By Andrew Busch | Published: July 24, 2009

Summary on the credit crunch at the Pacific Econ Conf. in Russia

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