Hints and tips:
...Today’s top stories The US Federal Reserve announces its decision on interest rates at 2pm ET/7pm London today. Check back here for details and reaction....
...All assets may perform badly under stagflation, but we’d rather own Pepsi, Johnson & Johnson, Kimberly-Clark, Bristol-Myers et al than sit and watch our cash lose its earnings power....
...For example, in a 2010 opinion (Chevron Corp v Steven Donziger, et al) handed down from the US district court in Manhattan, the judge wrote that the “evidence at trial established that Donziger, a New York...
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...M&S first ......
...to central bank reserves, by most dealer banks except one — JPMorgan (also see, Ihrig et, al, 2018)....
...The consensus is that the 18 banks under scrutiny are largely well-capitalised and should pass the first part of the two-step process, which is overseen by the Federal Reserve....
...I will discuss the economic effects of protectionism another time. —————————————————————————————————— Footnotes [1] Ricardo Caballero et al have published similar work, and John Cochrane has responded...
...Sensible sentences from Citi’s Buiter et al on China’s valuation shock (with our emphasis): This decision by the PBOC is a significant event, even if its implications and motivations are not yet fully clear...
...We suppose, before getting to what might stop this, one should probably discuss what’s hitting the Wunderbund et al. Still early in the day, after all....
...Today every Chinese individual is allowed to buy no more than US$50,000 worth of foreign currency from banks each year....
...(Also, Ben Bernanke et al had written a book arguing in favour of explicit numerical inflation targets in the interim, which may have influenced a few people.)...
...After all, here’s a US district court judge holding forth in Ex-Im Bank v Grenada this week (basically to confirm that more work is needed in that case to see if Grenada’s been as “recalcitrant” a debtor...
...Although contrast GMO et al: That’s rather more convoluted. In fact, it’s a recipe for a sovereign bankruptcy regime in US courts....
...Now here he is on a blast from the past… It’s Allied Bank International v Banco Credito Agricola de Cartago et al....
...So it’s not surprising that the first response from Buchheit et al is to answer back with bits of the bond contract that suggest sneaky loopholes instead....
...Again, it was all a bit vague in the courtroom, but one idea seemed to be giving NML et al whatever the backlog of 11 years of payments was, and then paying them at the EBG rate thereafter....
...Fox Television Stations et al) was appealed to the US Supreme Court, where it was debated on Tuesday....
...Osborne praises the independence of the OBR – to laughter from the front bench – Chote et al have managed to overshadow today’s statement. 12.37 The OBR has reduced its assumptions about spare capacity...
...So, Bernanke et al are now going to be increasingly targeting longer-term interest rates as a means to revive growth, mitigate double-dip risks and avoid a potentially destabilizing deflationary experience...
...And forget “disappointment” — will Goldman Sachs et al be mightly ticked-off if they don’t? The answer to these questions and (no) others to come on Tuesday....
...“A rally past the first week of May would force us to reconsider this view, as it would suggest a ‘V’ bottom is more likely.”...
...What really happened at Northern Rock, Royal Bank of Scotland et al? This gives you a clearer idea....
...… Despite such reports of intimidation, many first-generation Tamil migrants openly supported the tamil Tigers at this year’s protests. “The Tigers will crush them [the Sri Lankan government],” V.K....
...As for Japan’s deteriorating economic climate – not to mention the downwards direction of the Nikkei average – the situation may well become “more difficult” and Sugiyama et al may have to change their minds...
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