In the midst of all the recent uproar, one anonymous Twitterer seized his chance to have his Uber-Warholian, 140-characters-of-fame moment and thundered: ‘Central banks are losing control of this market!’ no doubt eliciting whatever the social media equivalent of a cry of ‘Hear! Hear!’ and an approbatory nodding of the head might be from among his followers. Continue reading
Please read on for a little light Christmas cheer, with apologies to the spirit of Henry Wadsworth Longfellow.
Amid all the debate about the US economy and the somewhat vague prospect of the Fed finally showing some cojones at some point in the future, the principle feature which allows the Doves to block any renormalization of the rate is the supposedly soft state of the labour market, particularly with reference to the sorry-looking participation rate.
Another ‘surprise’ which is all but given is that the upcoming UK election is uniquely poised to confuse all those who affect to practice the dark arts of psephology. By way of a brief synopsis, the state of play, with just over four months to go to polling day, is as follows.