Deeper Analysis
Note on Oil, the Dollar, and Inflation
February 18, 2015
The genesis of this comment lies in the 1970s, not because of similarities between then and now but rather because the current period seems on anecdotal observation to be an inversion of then. There were two oil price shocks in the 1970s, a quadrupling of crude in early 1974 and a second sharp upward thrust […] More
Central Bank Watch
Bank of Japan Kept Same Policy Parameters
February 18, 2015
After meeting for a shorter-than-usual five hours and two minutes on Tuesday and Wednesday, the Bank of Japan left its monetary stance, consisting of a 0.0-0.1% overnight money range and asset purchases of JPY 80 trillion per year, consisting mainly of longer-term JGBs with the intent of expanding the average maturity of the central bank’s […] More
New Overnight Developments Abroad - Daily Update
Some Optimism about Greek Talks
February 18, 2015
An anonymous officials claims Greece will request an extension of the bailout program, but the devil is in the details. Germany suspects a semantic shift only and wants assurances that Greece is prepared to continue the mandated austerity. The situation is murky, but markets have today been inclined to assume an optimistic outcome rather than […] More
