It was Teddy Roosevelt that famously said, "Speak softly, and carry a big stick". Well, it appears the FOMC has no time for Teddy. Their stick is surely big, but their talk has been loud and clear. On the other hand, the ECB has taken a decidedly more Rooseveltian...
Yesterday I mentioned that I would come back with some quick thoughts on likely Fed and ECB triggers for action in the wake of the elevated crisis situation in Europe. As always, it will be hard to pinpoint exact tipping points for a move - but I suspect that if we...
One of the many bright trade ideas to start the year was long spoos/short EURUSD. The idea was quite compelling in that the only thing that could truly derail a Bernanke-induced spoo rally would be big trouble across the pond - and hence big trouble for the EURO. And...
The Euro monetary system is flawed. It is a system that was cobbled together for political purposes; and sadly it was set up in such a way that each member state retained significant sovereign powers - most importantly the ability to exit the system and default on...
I have been in Asia since Monday morning. And I have had many individual meetings and a few group lunches/dinners across Hong Kong and Beijing. While this is at least my 15th trip to Beijing since my first in 1997, it only gets more amazing each time. There are a...
I have been in Asia since Monday morning. And I have had many individual meetings and a few group lunches/dinners across Hong Kong and Beijing. While this is at least my 15th trip to Beijing since my first in 1997, it only gets more amazing each time. There are a number of words that come […]
