Why BoE is Expected to Ease and ECB is Not
Both the Bank of England and the European Central Bank will be making monetary policy announcements on Thursday. The market expects the ECB to remain on hold and... Read »
The Elephant in the Room is Spain, Not Italy
Another day and the markets remain fixated on whether Greece comes to a “voluntary” arrangement with its creditors. The key word is “voluntary” because the... Read »
Large Amounts of Funds Still Going to Foreign Institutions
There seem to be three major stories in commercial banking these days: first, the cash going to foreign-related institutions; second, the pickup in non-real estate... Read »
Why Did Russia and China Veto?
Last weekend Russia and China vetoed a UN Security Council resolution that sought to address the violence in Syria. The vote was 13-2. The resolution did not authorize... Read »
Another Financial Market Experiment?
In the fall of 2008, US authorities conducted a financial market experiment. They allowed a large and heavily interconnected firm, Lehman Brothers, to file for... Read »
Europe Needs a Real Fiscal Union
The rhetoric is heating up as we head into Monday’s European Union’s summit. On one hand, we see rumors circulating that a deal in the Greek debt talks... Read »
What Economic Growth in the United States? And, in Europe?
The Congressional Budget Office (CBO) just released its forecast for economic growth and what it sees seems to differ substantially from what the Federal Reserve... Read »
Capitano Crunch: Europe’s Collapsing Monetary Aggregates
Here are some great pictures from Credit Suisse illustrating what’s happening in the European monetary sector. The monetary aggregates have been collapsing at... Read »
Portugal Ready for Center Stage
Portugal is Europe’s next big problem. According to the Globe and Mail: Greece has been the debt crisis headline hog for months. This is unfair to Portugal, whose... Read »
Greece Jitters Send Euro, Futures Tumbling
US stock futures are down sharply Monday after a lack of progress in Greek debt talks over the weekend. Officials were hopeful that a deal would be reached, but... Read »






