Currency Winds and Market Waves: Banks, Central Banks, & Policy Divergence?
Yesterday’s decision by the Japanese Central Bank not to extend its monetary easing, strengthened the Yen and significantly pressured the Nikkei Index. It has been obvious in the last several months that there is a strong inverse correlation between the Yen and the...The Symphony of Asset Management: Caravaggio Meets Atlas in the Chameleon Age
The scientific art of asset and wealth management is like conducting an orchestra. Each musician is dedicated in playing her/his own unique instrument. The enjoyment of music is the product of coordinated instruments. Cacophony is the product of uncoordinated...Credit Impulses and Market Volatility: The Missing Link
Over the course of the last couple of weeks we have read reports that credit facilities are rising, production is on the upswing, Chinese tremors are subsiding, and an overall sense of calmness is returning into the markets. We do not dispute these facts but we take a...WWW: Wrong Tools, Wrong Targets, Wrong Diagnoses
The world economy may be entering into treacherous territory. Central Banks and policy makers seem to have misdiagnosed the credit problems and applied the wrong medication. We are referring of course to that fact that toxic assets such as derivatives and the...The Plumbing of the Financial System: Debt Markets and Structured Products
Over the course of the last few months official foreign accounts have been selling US Treasuries. At the same time, the US Fed has been selling Treasuries to its primary dealers whose inventory of government bonds is rising. Moreover, newly issued paper (a.k.a....Sign Up for Our Publications
