Tag Archives: China

On April 2, the benchmark 10-year US Treasury yield traded below 2.75%. It had been as high as 2.94% in later February at the tail end of last year’s inflation hysteria. But after the shock of global liquidations in late January and early February, liquidity concerns would override again at least for a short while. After April 2, the BOND ROUT!!!! was re-energized and away went interest rates. Between that date and May...

In December 2006, just weeks before the outbreak of “unforeseen” crisis, then-Federal Reserve Chairman Ben Bernanke discussed the breathtaking advance of China’s economy. He was in Beijing for a monetary conference, and the unofficial theme of his speech, as I read it, was “you can do better.” While economic gains were substantial, he said, they were uneven. To keep China going down the same path of rapid growth,...

Bild: Unsplash Seba Crypto mit Sitz in Zug will die erste Schweizer Krypto-Bank werden. Sie wird von zahlreichen namhaften Investoren unterstützt und hat eine Banklizenz bei der Finma beantragt. Ein Startkapital von 100 Mio. Franken wurde bereits von Investoren beschafft. Das Start-Up will als Brückenbauer zwischen den traditionellen und den Krypto-Finanzmärkten fungieren. Krypto- und...

Alhambra Investments CEO Joe Calhoun shares his opinions of the economy and market based on the most recent economic reports.  Related posts: Monetary Policy Assessment of 20 September 2018 Monthly Macro Monitor – September FX Daily, September 12: Dollar Chops in Narrow Ranges Global Asset Allocation Update – September 2018 Monthly Macro...

This has already been one of the longest economic expansions on record for the US and there is little in the data or markets to indicate that is about to come to an end. Current levels of the yield curve are comparable to late 2005 in the last cycle. It was almost two years later before we even had an inkling of a problem and even in the summer of 2008 – nearly three years later – there was still a robust debate about...

Cushing, OK, delivered what it could for the CPI. The contribution to the inflation rate from oil prices was again substantial in August 2018. The energy component of the index gained 10.3% year-over-year, compared to 11.9% in July. It was the fourth straight month of double digit gains. Yet, the CPI headline retreated a little further than expected. After reaching the highest since December 2011 the month before,...

Mario Draghi doesn’t have a whole lot going for him, but he is at least consistent – at times (yes, inconsistent consistency). Bloomberg helpfully reported yesterday how the ECB’s staff committee that produces the econometric projections has recommended the central bank’s Governing Council change the official outlook. Since last year, risks have been “balanced” in their collective opinion. Given what’s happened this...

We’ve been here before. Economists and central bankers become giddy about the prospects for success, meaning actual recovery. For that to happen, reflation must first attain enough momentum. If it does, as is always forecast, reflation becomes recovery. The world then moves off this darkening path toward the unknown crazy. The problem has been that officials mistake reflation for what it is. Each time they believe it...

Bild: Unsplash Die Bank SYZ bringt erneut eine Aktienanleihe auf den Markt, die von der Weltbank herausgegeben wird. Sie ist mit einem Korb von Industrieländeraktien verknüpft, welche die Sustainable Development Goals (SDG)-Kriterien für eine nachhaltige Entwicklung erfüllen. Im Hinblick auf das grosse Interesse unter den Anlegern hat die Bank SYZ beschlossen, ihre Partnerschaft mit der Weltbank...

Die Vertreter der Wirtschaftsmacht China werden freundlich empfangen: Eine Senegalesin beim Staatsbesuch von Xi Jinping im Sommer 2018. Foto: Keystone China ist in Afrika mittlerweile die wichtigste Wirtschaftsmacht geworden. Entsprechend hat sich die Berichterstattung in westlichen Zeitungen intensiviert. Es vergeht kaum ein Tag ohne Artikel über das Thema. Die jüngeren Artikel beziehen sich meist auf eine Studie des McKinsey Global Institute vom Juni 2017, weil sie eine Gesamtsicht...