Global Macro


Will Ben print again?

With June and the end of Federal Reserve bond purchases fast approaching, the question that must surely be growing in the minds of global traders, policy-makers concerned about food inflation or anyone that gives a hoot about Australia’s non-resource exports is ‘will Ben do it again?’ By that, this blogger means Ben Bernanke and the


Neocon’s revenge II

History, it seems, is not without a sense of irony. You may recall that September 11, 2001 marked the rise in the US of a new breed of foreign policy hawk: The Neoconservatives. The stated goal of the ‘Neocons’ was a “Project for a New American Century”. Their principles were laid out in 1997 in


Guest post: La Niña, the black swan

This week’s disastrous floods in Queensland have tragically claimed many lives in addition to leaving thousands homeless and without businesses to return to, but the biggest cost economically may be felt abroad. I’m not talking about reinsurance here – though that is indeed an issue considering the estimated $5 billion damages bill – but about


Uh oh, euro

Yes, that pattern could be seen as a nice head and shoulders top for the euro. No surprise, really, with Europe’s bail-ins rolling inexorably toward Portugal. As FT Alphaville illustrated so nicely overnight: …it took Greece and Ireland less than a month to request EU/IMF aid after their 10-year bond yields breached that all-important 7


Delusion everywhere.

Looks like the bears are back into hibernation for the short term, Europe’s banking fairy tale seems to have gone down well, (let us all ignore Hungary for a while ) and has done the same delusional good work that the US banking fairy tale did. Lets hope those central banks keep their pedal on