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March 28, 2007

United States
Global adjustment — the US, Europe, Asia and last but not least the oil exporters

Folks have been worrying about the current account deficit for so long that “Wall Street is downright bored with it.”    Trust me, I know.  But just because the world’s central banks have financed an…

April 17, 2007

Financial Markets
Saudi riyal, Kuwait dinar, UAE dirham hit multi-year lows v. the pound …

They are also getting close to a record low v. the euro. Yet oil is, well, still rather strong.   Against the dollar.  But also against the pound and euro.   The euro and pound have gained significan…

April 25, 2007

Economics
Five observations: all loosely tied to yen and dollar weakness and the swelling coffers of the emerging world

One. Yes, Virginia, exchange rates do matter … Japan’s trade surplus is rising.  Its current account surplus should be rising even more, as its interest income should be increasing too.   The MoF is …

investment_funds

December 5, 2007

China
Competition — and coordination — within the Chinese state as China goes forth

Today’s Financial Times has an important article by Geoff Dyer and Sundeep Tucker examining the overseas expansion of Chinese companies in general, and Chinese state companies in particular.  It is a…

December 7, 2007

Monetary Policy
Are central banks diversifying away from the dollar?

Opinion -- informed opinion -- is divided.The currency team at the Bank of New York says yes.  Simon Derrick wrote on Monday:"our own view [is] that one of the driving forces behind the EUR’s sustain…

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