Quite clearly the ECB President Mario Draghi signaled that the ECB will not be buying Italian and Spanish bonds unless those countries enter into an agreement with the EFSF or in the future the ESM. He clearly stated that even then the ECB may not intervene in the bond markets. When asked about Italian Prime […]
Nada, Zilch or maybe a Smidgeon
The FOMC press release announced that the Fed is not doing anything different for this month. The statement is pretty similar to that before and would be considered a disappointment to those that bought risk on the WSJ and NYT articles of last week. So no new asset purchases, no removal of Interest on Excess […]
Dramatic Market Moves — FIU
A market move of the kind saw at the end of last week is hard to comprehend. Two stories caused the dramatic moves. Firstly both the WSJ and the NY Times ran stories at the beginning of the last week declaring that the FOMC was ready to act at this week’s FOMC meeting. Reading the […]
Uncertainty is on the up again — FIU
Uncertainty is on the up again. Fixed Income markets have traded in a narrow range over the past weeks after the volatility caused by last month’s US Employment report. It has impacted the Historical Interest Rate volatility. However unlike previous declines in Historical volatilities, the Implied Volatilities over the past few days have reversed any […]
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