Feeds:
Posts
Comments

Archive for the ‘global macro’ Category

Counting inflation

Posted in global macro, inflation, monetary policy on June 14, 2008 | Leave a Comment »

======================================================================
country; nominal interest rate; date; official CPI; last update; real interest rate
======================================================================
China 7.47% 06/13/08 7.70% 05/31/08 -0.23%
Hong Kong [...]

Read Full Post »

The Mofaz meme

Posted in china, dollar, global macro, inflation, monetary policy on June 8, 2008 | Leave a Comment »

There were about five pieces of news on Friday that delivered such a massive upside kick to oil.
1) Chinese oil consumption numbers came in much higher than expected.
Wall Street is still being blindsided by the impact of the Sichuan earthquake, and apparently most of it is ignorant that ~30 percent of Chinese oil/ natgas/ heating [...]

Read Full Post »

Chinese reserves

Posted in china, global macro, inflation, monetary policy on May 29, 2008 | Leave a Comment »

Setser on the PBOC:

What cann’t go on still hasn’t slowed, let alone stopped (Chinese reserve growth)
Posted on Thursday, May 29th, 2008 by bsetser
… Back in 2004, it was considered rather stunning when China added close to $100 billion to its reserves ($95 billion) in a single quarter, bring its total reserves up to around [...]

Read Full Post »

The “shadow stats thesis” goes mainstream, …

Posted in doomsterism, federal reserve, global macro, inflation, monetary policy, wall street on May 24, 2008 | Leave a Comment »

… underwritten by PIMCO’s Bill Gross.
Just in time for the huge TIPS burp a couple of nights ago, when massive buying pushed the 5-year TIPS yield down to -.77.
I’ve been a huge fan of the SS hypothesis for a long time, so it’s good to see the world’s biggest fixed income guru practically copy-paste from [...]

Read Full Post »

Meanwhile, on the Nordic front

Posted in global macro, inflation, monetary policy on May 16, 2008 | Leave a Comment »

The entire economy of Iceland has come under massive speculative assault in the past several months, as the most ludicrous example of an overextended, overleveraged, underfunded European economy.
As of December 2006, its rolling annual trade deficit was 26 percent of GDP. That has come down to “only” 15 percent as of January 2008.
However, Iceland’s currency [...]

Read Full Post »

BofA: import prices up 15.4% yoy, 6.2% ex-oil

Posted in economy, global macro, inflation on May 15, 2008 | Leave a Comment »

􀁘 Removing gasoline sales, which have been strongly influenced by the sharp rise in
prices in recent months, allows a better measure of real or inflation-adjusted sales
to be examined. Alternative measures of the so-called ‘control group,’ included in
real consumer spending as measured by the BEA, rose about 0.5% in April,
following a revised increase of about 0.3% [...]

Read Full Post »