6 Jun 2014

ECB action suggests euro-area debt crisis not over yet

by | posted in: Credit, Currency, Economy | 0

The euro so far is trading exactly as expected.  ECB President Mario Draghi did not disappoint.  Yesterday, the refi rate (main lending rate) was cut to 0.15 percent from 0.25 percent and the deposit rate to negative 0.1 percent from … Continued

28 Apr 2014

Suppressed money velocity and recent strength in C&I loans

by | posted in: Economy, Equities | 0

The release of February’s commercial and industrial loan data ensued a lot of excitement.  ‘Finally!’ was the typical reaction.  The $36bn increase (to $1.67tn) was the largest month-over-month rise since October 2008.  March data just came out, and we learn … Continued