Select Page

Category: Patriot News

Cable, Gilt Yields Spike After BoE’s Carney Hints At Stimulus Withdrawal

It’s deja vu all over again in Sintra. Yesterday, Draghi sent EUR and Bund yields surging on his ‘hawkish’ comments, which he was forced to talk back just over an hour ago, and today the confusion is back and it is the UK’s turn as Bank of England governor Carney just hinted that the removal of stimulus is likely to become necessary, reversing on his own dovish stance unveiled just last week. The section in question is the following (his full speech is here)): Some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional. The extent to which the trade-off moves in that direction will depend on the extent to which weaker consumption growth is offset by other components of demand including business investment, whether wages and unit labour costs begin to firm, and more generally, how the economy reacts to both tighter financial conditions and the reality of Brexit negotiations. These are some of the issues that the MPC will debate in the coming months The reaction, just as yesterday, is a spike in cable and gilt yields. As Bloomberg reports, “Some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional,” Carney said in...

Read More

Watch Live: Draghi, Kuroda, Carney, & Poloz Set The World’s Markets Straight At The ECB Forum

Draghi’s speech at the ECB Forum yesterday was intended to strike a balance between recognizing the currency bloc’s economic strength and warning that monetary support is still needed, according to Bloomberg, and it only took two post-speech clarifications to get the market to understand exactly what he was saying… which was nothing has changed. The main event today at the ECB Forum in Sintra is a policy panel with ECB’s Draghi, BOE’s Carney, BOJ’s Kuroda, BOC’s Poloz due to appear at 2:30pm London…to explain to markets exactly what their policies mean. Live Feed: [embedded...

Read More

Goldman No Longer Believes Republicans Can Repeal Obamacare: Here’s Why

One month after Goldman gave up on Trump being able to pass any major (or minor) tax package in 2017, overnight – in the aftermath of Senate GOP’s deplorable failure to find the needed 51 votes to ” repeal and replace” Obamacare- Goldman’s Washington analyst Alec Phillips throws up his hands, and no longer believes that passage of Obamacare is possible. In a note that looks at the current state of health legislation, titled appropriately enough “Nearing the End”, Goldman summarizes that Senate Republican leaders have postponed the vote on health legislation that had been tentatively scheduled this week. A vote is possible in two weeks, but further delays are possible.  Phillips does note that there are still some arguments in favor of eventual enactment: Republicans will be under pressure to follow through on a long-standing political commitment, and the estimated deficit reduction and tax cuts in the health bill could be useful in passing tax legislation later. Fixing the existing program for the coming year will also be necessary. However, he is skeptical and says that “these factors are likely to be outweighed by the political obstacles. Estimates of the potential increase in the uninsured population seem unlikely to improve substantially even after revisions to the bill. Public support for the effort is also weak, and intraparty divisions appear to pose too many obstacles. At this point, enactment...

Read More

N.Korea Issues Standing Order To Execute Former S.Korea President

Two days ago, Japan’s Asahi Shimbun newspaper reported that former South Korean President Park Geun-hye had made plans to assassinate North Korean leader Kim Jong-un, adding that Ex-president Park, who was impeached in a corruption scandal earlier this year, signed a document approving a “leadership change” in North Korea back in 2015. According to the Japanese outlet, South Korea’s intelligence agencies were to prepare operations to carry out the plan. The report noted that the plotters considered arranging accidents, with a car accident or the derailment of a train carrying Kim Jong-un on the table. Park’s administration also reportedly considered staging a coup in North Korea. The military activities of South Korea’s communist neighbor, including its nuclear arms development programs, apparently motivated the alleged plot, Asahi Shimbun notes. Tension between Seoul and Pyongyang spiked in August of 2015 as the countries exchanged fire after the North fired a projectile at the border city of Yeoncheon. However, the plans to assassinate the North Korean leader were not picked up by President Moon Jae-in’s administration after Park’s impeachment, the daily reports. One month ago, North Korea accused US and South Korean spy agencies of plotting to kill Kim Jong-un with some “biochemical substances,” the country’s Ministry of State Security said, as quoted by AFP. Turns out he was right. And, as of today, he is out for revenge. According to Reuters,...

Read More

Recent Posts

Videos

Loading...

Recent Comments