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"Things are largely on hold ahead of the Fed and Bank of
Japan meetings next week,"
The dollar was on course to fall for a second week against the yen on Friday after U.S. retail sales data quelled lingering bets on the Federal Reserve raising interest rates next week, while faith in Bank of Japan action against its currency also seems limited.
Zimbabwe running out of U.S.Cash - Want's to print it's own version of US dollar billSep 16, 2016 - 07:20:38 PDT
Zimbabwe is a multicurrency country since it stopped printing its own money, the Zimbabwe dollar, in 2009 due to hyperinflation.
Consumer confidence in September held at the lowest level since April, limited by a smaller share of Americans reporting gains in incomes.
Sep 16, 2016 - 07:05:47 PDT
The US Consumer Price Index (CPI) ex food and energy, also know as core inflation, rose by 2.3% YoY. That was the 10th month in a row that core inflation exceeded The Fed's target rate of inflation of 2%. On the other hand, another measure of inflation, core personal consumption expenditures (PCE) YoY was foundering…
Yesterday the Bank of England gave its latest policy statement and announcement. The headline announcements were policy was unchanged with Bank Rate remaining at 0.25%, that the £60 billion of government bond would continue and the £10 billion of Corporate Bond QE would begin on the 27th of this month as previously announced. There was…
A slump in Deutsche Bank AG spreading to the industry deepened a selloff that took European equities for their biggest weekly slides since before the U.K. secession vote.
Central banks are not stepping away from their programs, they are tweaking them. "You have almost $200 billion a month and a captive buyer.
The benefits of the Bank of Japan's negative interest rate policy are "very big" because it is encouraging corporate debt issuance and lowering mortgage rates, an adviser to Prime Minister Shinzo Abe said on Friday.
So says a cabinet office official who claims on Reuters to be quoting Kuroda 16 Sept
Keeping and easing further are two very different things though eh?
Now, an interesting observation to consider for next week: When the Fed and BOJ meetings fall in the same week, the conclusion of the BOJ meeting historically tends to fall AFTER the conclusion of the Fed meeting.
Deutsche Bonds "Dropping Like A Stone" As 'Most Dangerous Bank In The World' PlummetsSep 16, 2016 - 06:40:31 PDT
"They are dropping like a stone," warns one European credit strategist as signals from the bottom of Deutsche Bank's capital structure signal a "huge increase in the potential for a coupon skip."
In terms of $AUM, this was the largest ever outflow from ETFs and the first net redemption from open-ended funds in the past 11 weeks, underscoring the fear of a rising rate environment and its negative impact on high yield.
Core CPI Highest Since Lehman (Above Fed Mandate) As Rent, Healthcare Costs SoarSep 16, 2016 - 06:10:28 PDT
This is the 10th month in a row above the Fed's mandated 2% 'stable' growth as shelter and healthcare costs continue to surge.
So if this is the end of a monetary era, what comes next. And more importantly, what can we do about it to protect ourselves.
George Selgin had an interesting post describing how the Fed appears to be breaking the law by paying too much interest to reserve-holde...
Here is a chart of the SDR against the dollar. It too has declined like the components of the yen, euro, and pound. Now let’s look at the Chinese yuan. This too has declined against the dollar.
What central bankers fail to take into consideration is that the interest rate is the OPPORTUNITY COST of money as reflected into the future. This is why interest rates naturally decline during a recession because of the future expectation of what money will buy when it returns.
Sep 16, 2016 - 05:42:34 PDT
Gold is flagging above the 200 week moving average while it waits for the dollar to generate the downward leg of its intermediate cycle.
The US Dollar may weaken if Augusts’ CPI data extends a recent string of disappointing news-flow, denting Fed rate hike bets ahead of next week’s