From its inception, Quantitative Easing has attracted an outsized amount of attention. Is this because it has a destabilising effect, or is it just because people don't trust something so complex?
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Too fast, too hard and without caution – After throwing everything and the kitchen sink at deflation, Central Banks are trying to compensate with…
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The Fed’s traditional role has been as the “lender-of-last-resort”. Since the GFC, it has been moonlighting as the “borrower-of-first-resort”.
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A retreat of inflation is not sufficient to bring back negative correlation between equities and bonds, if history is any guide.
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Despite the appeal of the hypothesis that lower interest rates encourages the private sector to take on debt, the data doesn’t support it. So why are…
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Commodity cycles are the main determinant for long-term US Dollar trends, relegating the influence of the Fed to short-term wobbles only
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Tempting deflation by aggressively tightening policy before we know if inflation is embedded is irresponsible. The cost of deflation is greater than…
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The PBOC will have indirect control over Fed policy as it refuses to follow global policy tightening
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Macro Is Dead