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The Future of Transatlantic Trade and Investment: Opportunities and Challenges

May 23rd, 2013
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Event Information May 23, 20131:30 PM - 2:30 PM EDT Falk AuditoriumBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036

Fed Pours Huge Sums Into Foreign Bank Coffers

May 23rd, 2013
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Why Is the Fed Bailing Out the World … On Our Dime?   We noted even before the TARP bailout law was signed into law that bailout moneys could flow to foreign banks.

The blog in Barron's

May 23rd, 2013
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Barrons, the leading US investment magazine, recently published a major cover story analysing the potential impact of the Millennial generation on the US economy. These are the young people now aged between 18 to 37 years, who are starting to enter their Wealth Creator years.

US, Japan Gain on Rest of World in 2013

May 23rd, 2013
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Earlier today we looked at US sector weightings, and below we take a look at the percentage of total world stock market cap that the largest countries make up.  As shown below, the US and Japan, which were the two largest stock markets at the start of the year, have added to their percentage of world market cap so far this year at the expense of pretty much everyone else.  

Thursday: New Home Sales, Weekly Unemployment Claims

May 23rd, 2013
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Most of the coverage of the FOMC minutes today focused on this sentence: "A number of participants expressed willingness to adjust the flow of purchases downward as early as the June meeting if the economic information received by that time showed evidence of sufficiently strong and sustained growth; however, views differed about what evidence would be necessary and the likelihood of that outcome."

The banking crisis as a giant carry trade gone wrong

May 23rd, 2013
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Viral Acharya, Sascha Steffen, 23 May 2013A pernicious aspect of the Eurozone crisis is the ‘doom loop’ linking European banks and governments. This column argues that poor European policy choices in the wake of the 2008 Global Crisis worsened the problem. Rather than being forcefully recapitalising as in the US and UK, many Eurozone banks were left undercapitalised and free to gamble for redemption. In what may be the greatest carry trade ever, they borrowed cheap, first in short-term debt markets and then from the ECB, to invest in high-yield but risky sovereign debt.

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