Central Bank Watch
FOMC Decision
December 13, 2011
Today’s FOMC statement was as expected and little different in substance from the previous one six weeks ago. No changes were made to Operation Twist, a program to extend the average maturity of the Fed’s security holdings that was unveiled two meetings ago in September and is to run through next June. Further enhanced communication […] More
Larry's Blog
End of the Euro as We Know It
December 13, 2011
The belief is gaining adherents that a break-up of the euro is a matter of when, not if. The unthinkable is transforming into conventional wisdom of what will be. Potentially catastrophic financial and economic consequences of any modification in the 17-nation configuration of EMU, however small, had been the basis for the perceived impossibility of […] More
Central Bank Watch
FOMC Day
December 13, 2011
The Federal Open Market Committee held its eighth and final regularly scheduled monetary policy meeting of 2011 today and will release its formal statement at about 14:15 Eastern Standard Time (19:15 GMT). This is not one of the meetings to be followed by a Bernanke press conference. That fact and somewhat better-than-expected U.S. economic data […] More
New Overnight Developments Abroad - Daily Update
Less Risk Aversion than Yesterday… Investors Await FOMC Statement
December 13, 2011
After difficult trading on Monday, European equities have recovered 0.8% in Germany, 0.5% in Great Britain and 0.2% in France. Psychology got a boost from better-than-expected data from the German ZEW Institute and Spain’s bill auction, which sold more paper than planned. In earlier Pacific Rim trading, stocks fell by 2.3% in China, 1.9% in […] More
