Friday’s announcement that on January 30th, 278 European Banks have chosen to repay €137.2bln in funds that they borrowed from the ECB in the first of the LTROs, spooked the European interest rate markets. Why I am not so sure. There are little risk free assets you can buy above the rate, 0.75%, at which […]
Archives for January 2013
Has anything changed? — FIU
Many questions have been asked as to why there was such a dramatic move to higher US Treasury yields last week. And amid those questions there have been many statements as to how the bond market will perform for the next quarter. Firstly, as I pointed out last week, the “Big Compromise” does little to […]
US Economy — Driving over the cliff — FIU
After having been diverted from driving over the cliff, the US economy is now being driven down a very muddy road and after all the rain that the UK has had over the past month I certainly know how slow that makes things. A quick summary of the compromise deal that the US Senate negotiated […]