John Parry Archive

Connolly

Agreed that government can buy stocks to keep them from falling, as HK did. But the 1930s was a gold standard deflationary collapse. The Fed was constrained from net buying anything due to the risk of losing gold reserves. The risks are very different now with non-convertible currency/floating fx: Depression risk might ...Read More

it’s about price, not quantity

It’s about price, not quantity. CB’s don’t alter net reserve positions – they ‘offset operating factors’ and set interest rates. Fed to redeem $14.02 bln of bill holdings Dec. 27 Thu Dec 20, 2007 11:20am EST NEW YORK, Dec 20 (Reuters) – The U.S. Federal Reserve said on Thursday it will redeem ...Read More

ABCP working its way down

UPDATE 2-U.S. ABCP market smallest since fall 2005-Fed Thu Dec 13, 2007 12:58pm EST By Richard Leong and John Parry NEW YORK, Dec 13 (Reuters) – The U.S. asset-backed commercial paper market contracted to its smallest level since the fall of 2005, a symptom of ongoing global credit squeeze, Federal Reserve data ...Read More