Archive for March, 2015

China’s economy has embarked on a dash for cash: equity fund raising has increased, inventories are being liquidated and import shipments are decreasing as companies attempt to conserve their supplies of FOREX. The private sector is also aggressively borrowing liquidity from the…

Singapore authorities surprised markets with their emergency policy meeting in January. Having spent most of a decade fighting capital inflows and their effects on the domestic financial system, the authorities are now attempting to prevent a dis-orderly unwind by providing…

Korea’s economy has produced what must be considered as weaker than expected data. Firstly, Korean companies had an over-exuberant attitude regarding to the prospects for a global economic recovery in 2014-5, leading them to employ and invest too much in…

Markets are taking the ECB’s promise of 18 months’ worth of consistent QE related bond purchases at face value but through its actions the ECB risks creating a highly damaging speculative boom and bust in the Euro Zone debt markets;…

A dollar deleveraging cycle.  Evidence is rapidly emerging that an intense dollar deleveraging cycle has begun within the Emerging Markets.  Following what had in effect been a 15 year long dollar based credit boom in the EM and Southern Hemisphere…

The Federal Reserve is facing a difficult year. Despite the recent strong gains in employment, household income trends remain decidedly soft and the deflation of goods prices in the retail sector has caused an evaporation of sales growth in the…