Archive for May 22nd, 2013

Central Bank Watch

FOMC

May 22, 2013

Part I: Bernanke Testimony before the Joint Economic Congressional Committee Chairman Bernanke didn’t say anything startling or out of character, but world financial markets swayed to and fro depending on then nuances of the language of his answers and whether such implied reductions in monthly asset purchases happening sooner and by larger increments or the […] More

Central Bank Watch

Bank of Japan: Steady as She Goes

May 22, 2013

Following a meeting lasting five hours and 28 minutes over two days, the nine-person BOJ Policy Board released a statement that did not break fresh ground.  Radical changes were introduced as a “qualitative and quantitative” sea-change on April 4th at the first meeting of the new leadership team.  This was the second subsequent meeting, and […] More

New Overnight Developments Abroad - Daily Update

A Busy Day

May 22, 2013

Many things are happening today.  One spotlight is on central banks.  The BOJ did not change policy of aggressive quantitative easing.  The economic assessment was upgraded, but market players are somewhat disappointed that no concrete modifications were announced to stop the erratic yet sharply rising trend in JGB yields, which have roughly doubled since early […] More

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