Eurodollar Archive

Trichet cmnts

Translation- they keep funding on an as needed basis, at least for now. *DJ ECB Trichet: The ECB Is Meeting Its Resposibilities *DJ ECB Trichet: Important That Deficit Targets Are Met *DJ ECB Trichet: Spain Should Deepen Labor Mkt Reform *DJ ECB Trichet: Bank Stress Tests Are Very Useful *DJ ECB Trichet: ...Read More

Poland cutting demand

This has been much the same for new members that previously had higher budget deficits. It firms the Euro and keeps unemployment higher than otherwise. [Before the euro, tight fiscal was ‘offset’ by the national CBs bought $ (I call that ‘off balance sheet deficit spending’) which supported employment and net export ...Read More

ECB offers unlimited cash

Good to see the ECB seems to understand it’s about price and not quantity. The reporter isn’t quite there, however. Maybe when the smoke clears and it turns out no net euros are involved the financial press will get it right. Or maybe they will accuse the ECB of ‘tricking the markets’ ...Read More