Archive for February 11th, 2016

Central Bank Watch

Sweden’s Negative Central Bank Interest Rate Becomes Even More So

February 11, 2016

The Riksbank experience with monetary policy normalization after the Great Recession preceded the Fed’s current attempt by over five years and serves as a lesson of what can go wrong.  From a low of 0.25% at the beginning of 2010, the Swedish repo rate was lifted by a full percentage point that year and by […] More

Central Bank Watch

Bangko Sentral ng Pilipinas

February 11, 2016

Filipino monetary policy settings were not changed at the latest Board meeting.  Interest rates, currently at 4.0% on overnight borrowings from the central bank and 6% on overnight loans, were not changed in either 2015 or 2013, but there were four cuts in 2012 and two hikes of 25 basis points each in July and […] More

New Overnight Developments Abroad - Daily Update

Markets Experiencing Most Panic of 2016

February 11, 2016

Ten-year sovereign debt yields fell overnight by 16 basis points in the U.K. and 4 bps in Germany.  The futures indication for the 10-year U.S. Treasury is an 11-basis point yield decline to 1.56%. Gold recorded its greatest daily leap in a year.  It’s up 3.3% on balance at $1,236.27 per troy ounce. West Texas […] More

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