Category Archives: EMU

Savers are Negative on Negative Rates

In recent weeks market turmoil has put negative interest rates firmly on to the centrals banks’ agenda. The Bank of Japan sprang a surprise by following the European Central Bank in moving into negative territory, and there is even talk … Continue reading

Posted in EMU, Macro, Macroeconomics | Tagged , , , , , , , , , | 9 Comments

21 Lessons from the Greek Crisis

  The refinancing deal struck on 13th July between Greece and its Eurozone partners left everyone bruised and unhappy. While it staved off the immediate threat of yet greater chaos from Greece being forced to abandon the euro, doubts remain … Continue reading

Posted in Economic Growth, EMU, Macro, Macroeconomics, Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

The New Abnormal

It’s remarkable how pervasive ‘New Normal’ thinking still is, despite innumerable economic and financial market shocks. Forecasters continue to assume that the global economy will gravitate towards low but stable growth, regulators still aim to deliver a more stable financial … Continue reading

Posted in Bond Markets, Economic Growth, EMU, Innovation, Macro, Macroeconomics, Productivity, Technology, Uncategorized, US Treasury Bonds | Tagged , , , , , , , , , , , , | 1 Comment

Draghi’s confidence trick is working a treat

Over the last few months there’s been a dramatic turnaround in capital flows to the Eurozone’s periphery, illustrating the success of ECB President Draghi’s rhetorical flourish last summer to do “whatever it takes” to support EMU. Today’s Financial Times carries … Continue reading

Posted in Bond Markets, EMU, Macro, Macroeconomics | Tagged , , , , , , | Leave a comment

The Four Minute Solution to the Euro Crisis…

…complete with Dutch subtitles, here’s a video, posted originally on the website http://www.mejudice.nl. It summarises the key conclusions arising from the ‘Roads to Survival’ report about how EMU break-up may be avoided (see my June 5th post). But for now, … Continue reading

Posted in EMU, Macro, Macroeconomics | Tagged , , , , , , | Leave a comment

EMU: Fixing it is far cheaper than breaking it

Politicians in the ‘core’ countries of the Eurozone are toying with the idea of Greece leaving EMU, which would risk an exodus of other peripheral members. A new ING report suggests that this could be very costly. It assesses the … Continue reading

Posted in Bond Markets, EMU, Macro, Macroeconomics, Uncategorized | 4 Comments

Warped World of Bonds – The Story Continues

A new ING presentation fleshes out and updates the argument set out in the previous ‘Warped World’ report (see below): Forecasters are struggling to cope with heightened political and policy risk (the recent reaction to the ECB’s rhetorical flourishes being … Continue reading

Posted in Bond Markets, EMU, Macro, Macroeconomics, US Treasury Bonds | Leave a comment