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Notes From Underground: Mark Carney Lives Up to His Name (A Master of the Strange and Inane)

Did he really say that about currencies and sovereignty? In an article in tomorrow’s Financial Times it is reported that Mark Carney said during a Q&A that a “… currency union between England and an independent Scotland would be ‘ incompatible with sovereignty.'” Carney said a currency union needed three elements for success. 440 more words

ECB

Stellungnahme der Deutschen Bundesbank

Stellungnahme der Deutschen Bundesbank

Die Deutsche Bundesbank stellt zu den aktuellen Medienberichten über den Fall Maria Bögerl klar, dass die Filiale Ulm für professionelle Bargeldakteure, zu denen neben den Wertdienstleistungsunternehmen auch Kreditinstitute gehören, in der Zeit von 7:15 Uhr bis 16:30 Uhr durchgängig geöffnet ist. 33 more words

Stellungnahme der Deutschen Bundesbank

Stellungnahme der Deutschen Bundesbank

In einer ausführlichen Aussprache mit dem Haushaltsausschuss des Deutschen Bundestages hat Präsident Jens Weidmann die Sichtweise der Bundesbank auf die jüngsten Beschlüsse zur IWF-Mittelaufstockung mittels bilateraler Kreditlinien dargestellt. 132 more words

Notes From Underground: Mama, Don't Let Your Children Grow Up To Be Global Macro Traders

Well, NOTES FROM UNDERGROUND gets an A+ for analysis and an F or incomplete for EXECUTION. Caught off guard by Draghi’s timing, the market never provided a rally for the more cautious trader. 973 more words

ECB

Quiet start to the week expected as US closed for labour day

Sterling made the first week of gains in eight against the dollar on Friday as expectations persisted that the Bank of England may become the first major central bank to raise interest rates since the financial crisis. 273 more words

Praising the Bundesbank

I am puzzled by Wolfgang Münchau’s latest piece in the Financial Times. Let me start by quoting the end:

[...] The ECB should have started large-scale asset purchase a year ago.

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EMU Crisis