Silver as an investment

Category Archives: Group of Thirty

The Five Biggest Tests For China’s Next Central Bank Governor

Zhou Xiaochuan’s long reign as PBoC Governor is drawing to a close. He signaled his impending retirement last month and will be seventy years old In January 2018. Zhou has headed up China’s central bank from the early days of China’s “growth miracle” in 2002 and successfully – thanks to massive credit creation – steered […]

ECB Preview: Here’s What Draghi Will Announce Today

Today’s ECB meeting is expected to be one of the most important in recent years: Mario Draghi has signaled, and is widely expected to announce a blueprint of what the central bank’s QE tapering will look like beyond 2017, and while no actual tightening will be implemented – either via rates of asset purchases – […]

ECB Reportedly Considering Slashing QE In Half In January, EURUSD Shrugs

Has Mario Draghi's 'leak' weapon lost its mojo? ECB officials are considering cutting their monthly bond buying by at least half starting in January and keeping their program active for at least nine months, according to Bloomberg who cites 'officials familiar with the debate'. Reducing quantitative easing to 30 billion euros ($36 billion) a month from […]

Mario Draghi Explains His Apparent Hawkish-to-Dovish Flip-Flop – ECB Press Conference Live Feed

Bund yields and the euro are lower after the ECB statement seemed to tilt dovishly – with Draghi proclaiming there’s more “whatever it takes” if we need it – painting quite a different picture from his normalization chatter a few weeks back. We are sure he will explain himself fully to avoid any and all […]

World Stocks Hit Record High For 10th Consecutive Day In “No-Vol Nirvana”

The relentless risk levitation continued overnight, as global shares extended their record high stretch on Thursday for a 10th consecutive day after a cautious BOJ lifted Asian stocks to a decade high with a dovish announcement that offered no surprises, while pushing back Kuroda’s 2% inflation target to 2020, the 6th consecutive delay. With all […]

“Central Bankers Aren’t As Clever (And We’re Not As Dumb) As They Believe”

Authored by Jeffrey Snider via Alhambra Investment Partners, To complete a trifecta, maybe someone could interview Alan Greenspan about rational exuberance. The last of the latest Fed Chairmen, Janet Yellen, purports this week that the next financial crisis will not be in “our lifetimes.” The issue, however, isn’t even crisis so much as credibility. Given […]

EURUSD, Bund Yields Plunge After ECB Tells Market ‘You Misjudged Draghi’s Comments’

Just as we warned was likely (how many times have we seen this game played), The ECB has come out this morning to explain to the market that the reaction to Draghi's hawkish speech yesterday was entirely mistaken. The reaction is clear – EUR and Bund yields are tumbling. Vice President Vitor Constancio scrambled to set the […]

Markets Wrap: Stocks Flat In Quiet Session With US, UK And China Closed For Holiday

U.S. markets are closed for the Memorial Day holiday, and with UK and Chinese markets also closed for various holidays, it has been a quiet start to the week, with S&P futures essentially unchanged, trading at  2,415, up 0.06%, a new all time high. European stocks opened marginally lower in quiet trading but have since […]

Euro Spikes On Upbeat Draghi Comments, Then Drops On Muted Inflation Outlook

Well that didn’t last long:moments after the EUR spiked on Draghi’s upbeat economic comments, it has since filled the entire gap and is back to session lows after Draghi talked down Eurozone inflation saying there is no sufficient evidence to alter inflation outlook, and no evidence of a self-sustaining inflation move. DRAGHI SAYS ECB NOT […]

Will Trump Stop Plans to Ban Cash in the US?

The biggest trend that continues “behind the scenes” is the War on Cash. Anyone who believed that the political shift towards nationalism would somehow result in the elites giving up their Central Planning schemes is mistaken. Consider Europe… Recently, the European Union announced it would start researching whether or not to put an upper limit […]