Washington averted an imminent fiscal crisis, but the result could be a steep fiscal cliff in December or early 2018. We see heightened political uncertainty toward year-end as the U.S. Congress must revisit lifting the federal borrowing limit and funding the government. We could see this delaying and reducing the… Read More »
As the global recovery continues apace, an orderly deflating of the bond price boom, fuelled by central banks‘ unconventional policy measures, is more likely than a sudden rupture, according to ETF Securities, one of the world’s leading, independent providers of Exchange Traded Products (ETPs). Years of central bank asset purchases… Read More »
We’re about eight years into the bull market, and from the very lows of the bottom of the financial crisis – the S&P 500 has nearly quadrupled. It’s worth understanding how unusual this is in an historical context. How long can the bull market last?Jeff Knight – Global Head of… Read More »
The answer is yes…or at least that was the answer from Mario Draghi at the press conference after the September 7 monetary policy meeting, thereby indicating the importance of pursuing monetary accommodation in order to keep on supporting economic activity, despite the recent uptick in growth. However, the economy is… Read More »
Industry experts agree that the recent U.S. hurricanes are more likely to be earnings events than capital events, but have the potential to change risk perceptions and management behavior. Earnings EventWilliam Hawkins, analyst at Keefe Bruyette & Woods, said he expects that Hurricane Harvey will be enough to exhaust the… Read More »
The three charts below show the ECB forecasts for GDP growth, the inflation rate and the core inflation rate. They have been updated today with the ECB meeting.Growth has been revised on the upside for 2017 but remains unchanged, compared to June, for 2018 and 2019. The inflation rate and… Read More »
The ECB has published an unchanged statement on its monetary policy. Mario Draghi’s speech was moderate showing that there is no hurry at the ECB in the monetary policy management. No signal on a possible change in the QE framework in the future. The ECB president said that a decision… Read More »
Philippe Waechter -
Stan Fisher the Fed’s vice president has decided to resign at mid-October for personal reasons. This will dramatically changed the internal equilibrium of the Fed’s board. Until now, three seats were vacant but there were 4 members appointed by Barack Obama. Their mandates are going at least beyond 2020 for… Read More »
The European Central Bank (ECB) kept its monetary policy stance unchanged yesterday, maintaining the deposit rate at -0.4%, the main refinancing rate at 0.0%, the marginal lending facility at 0.25% and the size of its QE programme at €60 billion per month. President Draghi struck a positive tone in the… Read More »
Syngenta AG has mandated BNP Paribas, Citi, Credit Suisse, HSBC, MUFG and Santander to arrange a series of fixed income investor meetings commencing on September 11, 2017. A multi-tranche benchmark-sized USD-denominated 144A/RegS senior unsecured notes offering of various maturities up to 30 years is expected to follow, subject to market… Read More »
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