With his government better placed than ever to push second-generation economic reforms, Prime Minister Manmohan Singh on Sunday spoke his mind to an industry audience by promising a 'gradual but steady progress' in the long-stalled financial sector reforms. He also assured steps to improve futures markets for better price discovery and removal of the institutional impediments to better intermediation....
Summary Of Last Week’s Influences: Due to last week’s employment report morphing into a separate post describing the longer term economic outlook, I must forego this section today. Summary Of This Week’s Influences: This week is light on economic reports until the end of the week. Wednesday is Veteran’s Day; the stock market will be open but the bond market will be closed. $81...
If Ireland doesn't soon start convincing international investors about its solvency and ability to reduce the budget deficit, the country runs the risk of becoming the "next Argentina'' and being shut out of world bond markets, one of Europe's best known economists has warned. Martin Wolf, chief economics commentator with the Financial Times and former senior economist at the World Bank, said...
In this new short note from FRBSF economist analyses inflation expectations in US. Predicting the course of inflation is one of the most important challenges facing monetary policymakers. Useful aids to such prediction are the measures of expected future inflation obtained from prices in government bond markets. An examination of recent inflation-indexed and non-indexed U.S. Treasury [...]
Prices of Treasury coupon securities are posting mixed changes today and as the day draws to a close the belly of the curve will outperform the wings of the curve. There was some active trading earlier in the session but as the day has worn on customer interest has wanned. [More...]
I worry less than did some of the other bloggers about the Treasury awareness of major economic problems going forward. As governmental institutions go, Treasury has a real incentive to a) worry about the fiscal future, and b) worry about worst-case scenarios, including for financial institutions. Their daily interaction with the bond market gives them a longer time horizon and a more economics-friendly...
FN: Sounds like Japan v2.0 to me... The recent change in U.S. and U.K. monetary policy is very similar now to what the Japanese tried, where Quantitative Easing (QE) was forced onto a captive debt market. The full consequences of which will only know become obvious: De-facto sovereign default. It is Japan we should be worrying about, not America: "Japan is drifting helplessly towards a dramatic...
Around the world financial markets and their participants are being roundly criticised for everything from over-valuation to over-remuneration.Bond markets went crazy in 2008 with 30-year US government yields falling from 4.80...
Two links today, neither of them very pleasant, both from the WSJ. First of all, this . Gasparino is correct: the unindicted co-conspirator in the financial meltdown was, is and continues to be the Federal government, dedicated to throwing money at problems, especially now that money, due to effectively no interest rates, is basically "free". Here are some key points: The conventional wisdom...
LOS ANGELES, CA -- 11/06/09 -- Heart-healthy baked treats, Fox 21 TV project, FDA approval imminent for IMGG, Forex, bond markets and flame retardants; this week on MoneyTV, hosted by anchor Donald Baillargeon. MoneyTV is the internationally syndic..
LOS ANGELES, CA (MARKET WIRE) Heart-healthy baked treats, Fox 21 TV project, FDA approval imminent for IMGG, Forex, bond markets and flame retardants; this week on MoneyTV, hosted by anchor Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs, providing...
Readers of the newspapers' market reports this morning may have experienced something of a double take... "I hear that the William Hill boys are out schmoozing the bond markets this week in an attempt to raise some cash for the embattled bookie. Apparently the presentation has been poorly received." - SlackBelly, Wednesday November 4, 2009 . "William Hill was under pressure amid chatter...
Few people are talking about an enormous federal bailout that appears inevitable. (Bloomberg) -- U.S. state and local government pensions are underfunded by $1 trillion and may need to seek federal guarantees for their debt, according to Orin Kramer, chairman of New Jersey’s Investment Council. ... Pension underfunding eventually will make it impossible for some governments to raise money in...