198 Results for:

September 16, 2005

United States
The q2 current account deficit and global adjustment

Some days are marked by a surplus of good material.   The TIC data.  The second quarter current account data.  DeLong's magnus opus on what the great and good talked about on the margins of Jacks…

June 29, 2006

Emerging Markets
Levered long/ long funds …

An anonymous partner at a mid-sized London hedge fund expressed something I was trying to say a couple of weeks ago fair better than I could have.   From the Financial Times: "A lot of managers…

October 23, 2006

Europe
One more sign we live in a new gilded age - Europe is once again the world’s financial center …

Back in the first Gilded Age, a booming America drew in capital from old Europe.  The US ran current account deficits, Europe ran a surpluses.   London was the world’s financial center, intermediatin…

europe_gilded_1

June 11, 2007

Monetary Policy
“Asia’s importance in the bond market cannot be overstated”

That quote doesn't come from me -- but from someone with a bit more authority: Jim Caron, co-head of global interest rate strategy at Morgan Stanley (quoted by Michael MacKenzie in Monday's F…

central_bank_demand_quarters

April 3, 2007

Financial Markets
GCC revaluation watch

The US housing boom is – rather clearly – over.   The Federal Reserve is – at least in the eyes of the market – more likely to cut than to raise US policy rates.    The dollar is rather weak, at leas…

August 30, 2007

Financial Markets
Turning lemons into lemonade

Or perhaps – with a bit of reverse financial engineering – into “apples, pears, strawberries and all the rest.” Martin Wolf is the latest observer to note that the US has created a lot of financial l…

December 11, 2007

Emerging Markets
The new financial superpowers (part 2)

Sovereign wealth funds are hot.   A senior JP Morgan Chase banker, quoted in Time: "SWFs ... are the new 'it' girl of global finance. Everyone wants a piece of them."  Almost every investme…

March 10, 2008

Monetary Policy
What are Zhou and al-Sayyari doing? Reserve management and the Fed’s balance sheet operations

Paul Krugman noted that his discussion of the Fed’s recent policy steps was rather wonkish. If that is true, my comments will be off-the-wonkish charts. I want to try to bring the actions of foreign …

February 26, 2008

Capital Flows
Regulating sovereign wealth funds: does the US have any leverage?

Bob Davis’ Wall Street Journal article - which reports that the US Treasury is pushing Singapore and Abu Dhabi to increase their transparency and to signal that their funds will be managed commercial…

swfs_1.jpg

June 25, 2008

Monetary Policy
A tale of two Asias: China, and almost everyone else

Many emerging Asian economies -- Korea, India, perhaps some others -- are now intervening to keep their currencies up rather than trying to hold them down. Raphael Minder of the Financial Times rep…