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Notes From Underground: A Short Hiatus Before Year-End Volatility Rises

For the next few days I will be resting, hoping to enjoy some peace before the potential storms that face the financial markets at the end of 2014. 740 more words

ECB

Notes From Underground: Another G-20 Communique ... Yada, Yada, Yada

The gathering in Brisbane, Australia provided a backdrop for the world’s leaders to reveal their warm and fuzzy sides to the cameras as koalas were distributed… 1,054 more words

ECB

Notes From Underground: Let's Skip to Treasury Secretary Jack Lew

It is not often that investors are treated to the wisdom of U.S. Treasury Secretary Jack Lew. I am sure that Mr. Lew is a fine man but he is an example of a political appointment serving in a role beyond his pay grade. 702 more words

ECB

Notes From Underground: Mario Draghi, End Your Misery and Resign

During the last 30 months I have enjoyed listening to the Draghi press conferences as the ECB has been entertaining while he deftly handled the questions from a cadre of astute European financial journalists. 878 more words

Fed

Notes From Underground: Nik Wallenda'sTIghtrope Act, Merely a Prelude To the ECB and Mario Draghi

Walking a tightrope suspended 40 stories above the ground without a safety net was a tremendous feat, but bringing the ECB to a genuine quantitative easing program will be nothing short of miraculous. 591 more words

ECB

Notes From Underground: European Stress Tests Have Passed; Now All Trading Stress Begins

After the release of the asset quality review yesterday, analysts had time to digest the information and form a modicum of market opinion prior to Monday’s market opening. 1,105 more words

Fed

Notes From Underground: Another Cold Day In July

In late July, Bundesbank President Jens Weidmann made a comment about being in favor of a rise in German wages. I was citing a Financial Times article, “Bundesbank Shifts Stance To Support Pay Rises.” The article opens with the line, “Germany’s Bundesbank has backed the push by trade unions for inflation-busting wage settlements …” I noted that it was Bundesbank Chief Economist Jens Ulbrich who called recent wage trends moderate, given the strength in the German economy. 653 more words

ECB