Searching for explanation where it really matters
That we're still discussing the US/China relationship, especially the trade front, should not be a surprise. What is a surprise is the one-dimensional perspective commentators take. To us, this is nothing like a conventional trade war, and instead is the predictable "conflict of self interests"; a path that the two superpowers have long been on. …
Continue reading "US/China Trade Relations – China Syndromes?"
With the Fed already several hikes (and many billions in portfolio run-off ) down the road to policy re-alignment, it's natural for a new Fed Chair to consider a pause for reflection. Especially with financial markets doing most of the work, tightening financial conditions and reminding both market and economic participants alike, that the cycle …
Continue reading "Fed – the pause that nurtures the teenage bull"
Our new weekly post - all our comments and views summarized and reviewed on a Monday morning. Slightly reduced notes this week in honor of the holidays. That was the week that was Brexit - Corbyn foot in mouth Little to add on Brexit (you’ll be relieved to hear). We wrote here and here …
Our new weekly post - all our comments and views summarized and reviewed on a Monday morning. With new added "pic of the week".Every week we will summarize our thoughts from the previous week, employing the following format; What we thought (going into the week), What happened (during the week) and What changed for us. …
While the cuckoo PM May is not for turning, nor yielding, two other women of stature most surely are. Margaret Thatcher, famed for her redolent lack of turning, is most surely turning in her grave,RIP. And Queen Elizabeth, who seems to be in a minority of two when if comes to putting the country and …
There is no excerpt because this is a protected post.
It’s nearly 6 yrs since Mario Draghi compared the euro to a bumblebee and uttered “whatever it takes” to calm markets. So was born the Easy Bee, re-opening the credit channel and promoting some semblance of economic growth through out the Eurozone. A success ? Well to win, at first you have to survive. It’s …
This review of the transition from LIBOR markets, initiated by the FCA statement in July 2017, was written in September 2017, whilst in a previous life. It remains relevant, albeit out of date. The full document was long and intended to provide a glossary of the issues clients would face as we progressed towards the …
Continue reading "The end of LIBOR – Rumors of my death have not been exaggerated (RODNE)"
In this post we detail the reference material supporting a series of posts addressing the end of Libor and her relatives. References Reforming LIBOR and Other Financial Market Benchmarks - Darrell Duffie and Jeremy C. Stein, JEP spring 2015 The Alternative Reference Rates Committee June 16, 2017 Presentation Materials Market Participants Group on Reforming Interest …
Continue reading "LIBOR / RODNE – References and Appendices."
In this post, the fourth and final of a series of posts addressing the end of Libor and her relatives, we look at how this will impact financial markets. Markets impacted by the retirement of LIBOR. The loss of LIBOR will impact, either directly, or indirectly, many markets. The impact on each will depend upon the …
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