Category Archives: CBs

Greek bank liquidity, Fed minutes, Architecture Billings Index

As previously discussed, and relayed to the finance minister in Greece, there is no reason to assume the ECB will cut off liquidity to Greek banks. First, those banks are private institutions, and regulated and supervised by the ECB, who … Continue reading

Posted in Banking, CBs, ECB, Fed, Housing |

RT interview, UK inflation, retail sales mystery, Greece, Italian trade surplus

Greece must threaten Grexit to get best outcome from Troika Edward talks to Warren Mosler, chairman of Consulier Engineering on why the EU’s approach to the Greek debt crisis has failed to lift the Greek … So for decades the … Continue reading

Posted in CBs, EU |

Wholesale trade, BOE on Greece, Redbook sales, Jolts

Inventories looking excessive: Wholesale Trade Highlights The economy may be solid right now but inventories at the wholesale level look heavy, rising 0.1 percent in December vs a noticeable 0.4 percent decline in sales at the wholesale level. The mismatch … Continue reading

Posted in CBs, Employment, Greece |

Turkey’s President has it right!

Maybe they’ll invite me there for Thanksgiving- see where it all started! ;) Erdogan: You Can’t Decide Interest Rates According to Inflation By Ali Berat Meric Feb 4 (Bloomberg) — Turkish President Recep Tayyip Erdogan says making interest-rate cuts dependent … Continue reading

Posted in CBs, Inflation, Interest Rates |

A Modest Response

A Modest Proposal for Resolving the Eurozone Crisis By Y. Varoufakis, S. Holland AND J.K. Galbraith 1. Prologue Europe is fragmenting. While in the past year the European Central Bank has managed to stabilise the bond markets, the economies of … Continue reading

Posted in Bonds, CBs, ECB, Interest Rates |

Redbook, Fed lending survey, Factory orders

This is interesting in that it isn’t showing any pickup in consumer spending from the lower oil prices: Redbook Highlights Retail sales picked up in the January 31 week based on Redbook’s sample whose year-on-year same-store sales rate rose 6 … Continue reading

Posted in CBs, Credit |

Brazil

So just maybe the high rates are supporting the inflation? Brazil Central Bank Signals Further Increase in Interest Rates (WSJ) “Advances achieved in the fight against inflation…aren’t enough yet,” the bank’s monetary-policy committee said in minutes from last week’s meeting, … Continue reading

Posted in CBs |

Jobless claims, Pending home sales, Danish CB cuts rate to -.5%, comments on Greece, Canada job losses, Shell capex cut, Gasoline and utility demand soft

Jobless Claims 265k, -43k to 15-Year Low in Holiday Week. This is the lowest level for initial claims since April 15, 2000 when it was 259,000. The previous week’s level was revised up by 1,000 from 307,000 to 308,000. The … Continue reading

Posted in CBs, Housing |

Housing starts, Japan discussion, China, US pmi, store sales

Looks bad to me. Remember, for GDP to grow at last year’s rate, all the pieces on average have to contribute that much. And, as previously discussed, hard to see how starts and sales can grow with cash buyers and … Continue reading

Posted in Bonds, CBs, China, Deficit, GDP, Housing, Japan, Trade |

Comments on crude pricing, the economy, and the banking system

Crude pricing The Saudis are the ‘supplier of last resort’/swing producer. Every day the world buys all the crude the other producers sell to the highest bidder and then go to the Saudis for the last 9-10 million barrels that … Continue reading

Posted in Banking, CBs, Comodities, Credit, Currencies, Fed, GDP, Inflation, Interest Rates, Oil |