Tag Archives: France

As tumultuous as last year was from a global political perspective on the back of a rocky start market-wise, 2017 will be much more so. The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet. My prognosis is...

If you thought 2016 was full of market maelstroms and geopolitical gotchas, 2017’s ‘known unknowns’ suggest a year of more mayhem awaits… Here’s a selection of key events in the year ahead (and links to Bloomberg’s quick-takes on each). January Donald Trump will be sworn in as U.S. president on Jan. 20.QuickTakes: Immigration Reform, Free Trade and Its Foes, Supreme Court, Oil Sands, Confronting Coal, Climate Change,...

BullionStar has recently started a new series of posts highlighting charts relating to some of the most important gold markets, gold exchanges and gold trends around the world. The posts include charts of the Chinese Gold Market, the flow of gold from West to East via the London and Swiss gold markets, and the holdings of gold-backed Exchange Traded Funds (ETFs). This is the second post in the series. Please see...

While most of the world is enjoying it last day off from the 2017 holiday transition, with Asia’s major markets closed for the New Year holiday, along with Britain and Switzerland in Europe and the US and Canada across the Atlantic, European stocks climbed to their highest levels in over a year on Monday after the Markit PMI survey showed manufacturing production in the Eurozone rose to the highest level since April...

As global markets bask in the glow of the Trumpflation recovery, the ECB continues to be busy providing the actual levitating power behind what DB recently dubbed global “helicopter money“, by buying copious amounts of bonds on a daily basis (at least until tomorrow when the ECB goes on brief monetization hiatus, and Italy will be on its own for the next two weeks). According to the latest weekly breakdown of what the...

Via GEFIRA, Some say that the common currency prevents less productive economies from cheating by weakening their national currencies and forces them to become more efficient and competitive. Industrial production data shows that it is not the case. Italy, France, Greece and Portugal have not only stopped producing more; they are producing now less than in 1990! The decay started immediately after the introduction of...

Via GEFIRA, Some say that the common currency prevents less productive economies from cheating by weakening their national currencies and forces them to become more efficient and competitive. Industrial production data shows that it is not the case. Italy, France, Greece and Portugal have not only stopped producing more; they are producing now less than in 1990! The decay started immediately after the introduction of...

Summary: Forces emanating from the US and Europe are driving the capital markets. The moves may be stretched technically, but the market adjustment has further to run as not even two Fed hikes are discounted for next year. European political concerns and an ECB expected to continue its asset purchases have driven German 2-year yields to new record lows. There are powerful moves underway in the capital...

L’Eurosystem fait sauter les frontières nationales et unifie le système du trafic de paiement… Lors des échanges commerciaux et interbancaires, il y a des banques émettrices de monnaie et vis-à-vis une banque réceptrice. Normalement, à la fin de la journée, tout cela devrait être ramené à l’équilibre. Ceci n’est plus le cas depuis la crise américaine de 2007 (subprimes) comme nous le voyons sur le graphique...

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what is perhaps the biggest reason for the recent “anti-establishment” revulsion: an unprecedented concentration of wealth among a handful of people, as shown in its infamous global wealth pyramid, an arrangement which as observed by the “shocking” political backlash of the past few months suggests that the lower ‘levels’...