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markets

Panoramic Weekly: Fake (trade) news sink markets; bonds rally

Global bond markets rallied over the past five trading days as plunging oil prices, weak US data and disappointment over the real impact of a 90-day trade truce between the US and China led to a sharp flattening of the US yield curve, which is now only 12 basis points from inversion. The flattening intensified after US President Trump toned down his recent comments about the US-China trade agre…

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Panoramic Weekly: Keep calm and ‘gradually’ hike

After a turbulent start to the month, the second half of August has turned out to be a much calmer period for financial markets. While geopolitical tensions have not gone away, investor sentiment is currently being well-supported by the favourable economic outlook in the US, coupled with the prospect of a continued period of low interest rates. Global equity and credit markets produced further …

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€1tn increase required in ECB balance sheet to return to mid-2012 levels

Who’s the biggest winner if ECB buys corporates? The French

With the European Central Bank (ECB) purchasing €1.7bn of covered bonds last week, the Eurozone’s “QE-lite” programme has well and truly begun. Although the focus to date has been on covered and asset backed bonds, an article from Reuters last week spurred the market, due to a rumour that the ECB would soon be considering an extension to include secondary market corporate bond purchases. Althou…

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The Bank: Inside the Bank of England: the 10 competition winners are…

The answer was the Bank of England’s Inflation Report cost £4 when it was first published in 1993, and now costs £3, deflation of 25%.

Congratulations to the ten winners picked randomly:

  1. Tim Cockram – Chetwood Wealth Management
  2. Simon Bird  – Brewin  Dolphin
  3. Alex Brandreth – Brown Shipley
  4. Robert Harper – Brewin Dolphin
  5. Ali Treharne –  SFP Plymouth
  6. Mark Dobson – Charles Stanley
  7. R Knight – from A…

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The Bank: Inside the Bank of England by Dan Conaghan. Thoughts and a competition.

I’ve just finished reading Dan Conaghan’s newly published book The Bank: Inside the Bank of England.  It’s very good – and essential reading for all bond geeks.  We met with Dan a couple of weeks ago (he’s coming in for a lunch with a few clients next week) to talk through some of the themes in the book.  First of all it’s a big surprise just how little has been written about the Bank of Englan…

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