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Yesterday I said to Reuters: "The FOMC minutes were no surprise. I did not expect the Fed to cut today but they made a significant move indicating, strongly, that at least one rate cut was coming this year, if not more. I think they needed time to react to the ECB's new position that rates ...
Bloomberg states: "The European Commission could decide as soon as June 26 to trigger a disciplinary procedure against Italy in order to force the government in Rome to clean up its public finances. Here are the next steps: The commission has to propose opening a so-called Excessiv...
Overview: The global capital markets are trading quietly ahead of the weekend. Equity markets are mostly narrowly mixed. Chinese shares extended their run, and the major benchmarks were up 4%+ on the week. Japan, Australia, South Korea, and India saw gains pared. European equities were edgin...
Mr. Draghi's speech in Sintra, Portugal, a few days ago, was reminiscent of his famous "Whatever it Takes" speech. Mr. Draghi said the bank had "considerable headroom" to launch a fresh expansion of its $2.9 trillion Quantitative Easing program and suggested it could, in the short term, target...
On June 18th, 2019, ECB's vice president said another large bond-buying program could be an option if inflation in the region doesn't reach its intended target. As you can see in the following chart from Trading Economics , the inflation rate is dropping in the Eurozone and is currently b...
With eurozone core inflation falling to 0.8% year-on-year in May and 5-year forward inflation expectations falling to under 1.2% in recent weeks, indications from the ECB that all options are on the table to return inflation to below but close to 2% can hardly be a surprise. Adding to a steady...
By Shekhar Aiyar, deputy chief in the IMF's European Department; John Bluedorn is a senior economist in the Structural Reforms Unit of the IMF’s Research Department; Romain Duval is an advisor in the IMF's Research Department Growth in the euro area rebounded earlier this year, but ...
By Darren Williams As global growth prospects have weakened, the world of central banking has been turned upside-down. But while the US Federal Reserve (Fed) has already hinted at a change of course, the European Central Bank ((ECB)) is still struggling to adapt to the new reality. It's ...
By Andrew Mulliner, CFA The June 6 meeting of the European Central Bank ((ECB)) effectively marked the beginning of the end of its president, Mario Draghi's, reign. Andrew Mulliner, a Global Bonds Portfolio Manager, reflects on the outcome of the meeting and what the future holds with Mr....
Critics of modern monetary policy have been predicting that the day would come when a central bank would cut interest rates (or at least promise to), and the financial markets, instead of throwing a party, would fall. Then, it would be game over for easy money. This has yet to happen in the ...
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IndexIQ today announced that, as a result of a regular review of its product suite and commitment to meeting evolving client needs, it will liquidate the following exchange-traded funds (ETFs): The last day of trading on the NYSE Arca, Inc. for each liquidating fund is expected to be Augu...