Policy The European Central Bank (ECB) enlarged its quantitative easing program to include sovereign bonds and made it open ended. Mario Draghi—the ECB president—announced that the ECB will buy €60Bn worth of government bonds, asset-backed securities and covered bonds every month until at least September 2016. The extended program will start in March. Markets were […]
Posts from January 2015
ECB enlarged QE, Selic +50bp, BoE achieved unanimity
Mexico’s inflation slowdown was broadly based
Prices Mexico’s annual inflation slowed down sharply in the first half of January. Headline annual inflation came at 3.08%, down from 4.08% in December, while the core fell to 2.43% from 3.24%. A slowdown was expected, but not one this sharp. The drop was driven by four main factors: the elimination of domestic long-distance charges […]
China’s GDP continues to slow down, mixed PMIs
Activity China GDP continues to slow down. China’s GDP grew 7.3% year on year in Q4, which is the same pace as in Q3. 2014 growth was 7.4% down from 7.7% in 2013. China GDP continues to slow down Markit global manufacturing PMIs were mixed in January: The USA’s slipped to 53.7 from 53.9 in […]
Geopolitical Risk Briefer Part I
Libya Conflict in Libya continues between anti-Islamist militia and Islamist rivals, and two competing parliaments. Repeated UN calls for ceasefire has done nothing to stop the situation. Egypt denies involvement in reported Egyptian airstrikes on Benghazi’s Islamist forces. An Islamist parallel government has emerged in Tripoli. Libya’s elected parliament has declared an alliance with renegade […]
Los bajos precios del crudo impactan a la inversión en EE UU
En EE UU, los permisos para nuevos yacimientos petroleros expedidos en noviembre disminuyeron a 4,520 desde 7,227 en octubre (Reuters). De acuerdo a Allen Gilmer, director general de Drilling Info, esta caída de 40% es una “respuesta muy rápida” en la perforación de pozos a la reciente baja en el precio del crudo. Gilmer ve […]