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What To Expect In An Unlimited And Open-Ended Central Bank World

September 24, 2012

Comment On Friday we hosted a conference call/webcast titled “What to Expect In an Unlimited and Open-Ended Central Bank World” If you missed it: Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/503842-630970.mp3|titles=Conference Call] Handout [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=91″] Webcast [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/092112.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /]

Newsclips

More QE3/Infinity Skepticism

September 24, 2012

The Telegraph (UK) – Ambrose Evans-Pritchard:  Back Ben Bernanke’s QE3 with a clothes peg on your nose Monetarists from across the world can mostly agree on one thing. The US Federal Reserve caused the Great Recession. Fed chair Ben Bernanke kept policy far too tight after the US economy buckled in early to mid 2008.… Continue reading More QE3/Infinity Skepticism

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Newsclips

Volcker Criticizes QE3/Infinity

September 24, 2012

The Telegraph (UK) – QE3 will not fix America’s problems, warns Paul Volcker Paul Volcker, the former Federal Reserve chairman credited with taming the inflationary threat of the 1970s, has warned that further quantitative easing will fail to repair economies in Europe and the US Mr Volcker, addressing a conference at Gleneagles in Scotland, said… Continue reading Volcker Criticizes QE3/Infinity

Newsclips

Who Buys Treasuries?

September 24, 2012

The New York Times – Floyd Norris:  As the U.S. Borrows, Who Lends? YEAR ago, when the United States government was borrowing huge amounts of money and paying very low interest rates to do it, critics scoffed that a lot of Treasury bonds were being purchased by China, and even more of them were ending… Continue reading Who Buys Treasuries?

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Newsclips

Ray Dalio

September 24, 2012

Comment What Worries Hedge Fund Titan Ray Dalio? Raymond Dalio, Bridgewater Associates founder & CIO, discusses his biggest concerns about the global economy and why he thinks gold should be part of every investor’s portfolio, with CNBC’s Andrew Ross Sorkin. CNBC – Dalio Fears Social Unrest That Led to Hitler’s Rise Ray Dalio, founder and… Continue reading Ray Dalio

Newsclips

The ECB

September 24, 2012

Reuters – Euro zone to boost bailout fund firepower to 2 trillion euros: report Euro zone states are preparing to allow the bloc’s permanent bailout fund to leverage its capital in the same way as its predecessor so it can reach a capacity of more than 2 trillion euros and rescue big countries if necessary,… Continue reading The ECB

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Newsclips

ETF Bid In Corporates

September 24, 2012

Zero Hedge (blog) – Via Goldman Sachs: The “ETF Bid” – A Robust Driver of Bond Returns The dramatic growth of credit mutual funds over the past five years has been something of a paradigm shift for the US corporate bond market. According to data from Lipper, IG and HY mutual funds manage roughly $1.3tr… Continue reading ETF Bid In Corporates

Newsclips

The Fiscal Cliff

September 24, 2012

Reuters – Senate passes funding bill to avoid October 1 government shutdown A deeply divided and unproductive Congress wrapped up its final business before November’s elections early on Saturday as the U.S. Senate passed a stopgap measure to fund federal programs and avoid an October 1 government shutdown. The 62-30 vote on the funding bill,… Continue reading The Fiscal Cliff

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Newsclips

Richard Fisher … Speaking The Truth?

September 24, 2012

Comment Richard Fisher is the Dallas Federal Reserve President and a member of the FOMC.  Just like Richmond Federal Reserve President Jeffery Lacker last week, Fisher offered a scathing criticism of QE3/infinity. We find little to disagree with in this speech. Dallas Federal Reserve – Richard W. Fisher:  Comments to the Harvard Club of New… Continue reading Richard Fisher … Speaking The Truth?

Newsclips

Will Spain Accept A Bailout?

September 24, 2012

The Telegraph (UK) – Debt crisis: Spain ‘will need extra bail-out’ Spanish banks may need a cash injection of more than €100bn (£80bn), the results of an official stress test are expected to show this week, placing more financial pressure on to an already explosive political crisis in Madrid. A bank-by-bank test of financial stability… Continue reading Will Spain Accept A Bailout?

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Newsclips

Mario Draghi, Redefining Europe?

September 24, 2012

Business Insider – Mario Draghi Has Started A Quiet Revolution In Europe — And People Still Don’t Get What Happened In a post from yesterday on the relationship between global financial markets and central bank activity, we wrote something upon which we’d like to expand: On the surface, the Fed’s QE, and the ECB version… Continue reading Mario Draghi, Redefining Europe?

Newsclips

Food Inflation

September 24, 2012

<Click on chart for larger image> The Telegraph (UK) – World on track for record food prices ‘within a year’ due to US drought Brace yourself for some painful “agflation”. That is the shorthand for agricultural commodity inflation, otherwise known as rising food prices. They are being driven upwards by the climb in grain and… Continue reading Food Inflation