Recent Tweets from Place du Luxembourg
- Very interesting website on China: asiaconf.com 5 days ago
- Oh well, guess I was wrong... The ECB appears to indeed have abias for action, even if it is useless. ecb.int/press/pr/date/… 2 weeks ago
- "Why I think the ECB is not about to cut the MRO rate" placeduluxembourg.wordpress.com/2013/05/01/why… 2 weeks ago
- "Why I think the ECB is not about to cut the MRO rate" placeduluxembourg.wordpress.com/2013/05/01/why… 2 weeks ago
- Sticking my neck out: ECB will not cut tomorrow. Post explaining why to follow soon... ;) 2 weeks ago
Top Posts & Pages
- Upcoming Elections in Europe (2012 - 2013): Calendar and Voter Intention Surveys (in France, Greece, Italy and Germany)
- Why I think the ECB is not about to cut the MRO rate
- Financial Indicators: A guide to MACD and RSI using Bloomberg Interactive Charts
- ECB Monetary Policy Tools - A brief review
- ECB Balance Sheet: Composition, Scope and Limits
- ECB Market Intervention: The Securities Market Programme (SMP)
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- ECB: Monetary Policy Transmission – Interest Rate Channel System, Reserves & the Interbanking Market
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- Why I think the ECB is not about to cut the MRO rate
- Elections in Europe 2013: Calendar and Voter Intention Surveys – France, Greece, Italy, Austria and Germany
- What Happened in 2012?
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- No Early Elections in Germany… But Almost?
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Tag Archives: Sovereign Debt Crisis
ECB Market Intervention: The Securities Market Programme (SMP)
Update: As of September 6th, 2012, the SMP was discontinued and the assets held in its accounts were transferred assimilated by the Outright Monetary Transactions (OMT) accounts. For a preliminary assessment of the OMT, please check this blog post. Otherwise, … Continue reading
Posted in Aides Memoire, ECB, Economic Concepts
Tagged Belgium, Debt Monetisation, ECB, EFSF, Fine-tuning Operations, Fixed Term Deposits, Germany, Government Bonds, Government debt, Greece, Ireland, Italy, Monetary Economics, OMO, Open Market Operations, Portugal, Qualitative Easing, Quantitative Easing, Securities Market Programme, SMP, Sovereign bonds, Sovereign debt, Sovereign Debt Crisis, Spain, Stabilisation, Sterilisation, Sterilised Debt Monetisation
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Weekly Bond Yield developments in the Euro Area (W8.2012): SMP, Greek bailout, PMIs,noise, forecasts and Italian Debt auctions
Sovereign debt market developments this week were marked by 6 main events: The ECB’s first week without purchases under the SMP (on Monday) The achievement of a deal for the second bailout package for Greece, between Monday and Tuesday The … Continue reading
Posted in Current Events, Weekly Bond Yield developments in the Euro Area
Tagged Belgium, Debt auctions, ECB, EU Interim Economic Forecasts, France, Germany, Greece, Ireland, Italy, Noise, PMIs, Portugal, Second Greek Bailout, Securities Market Programme, SMP, Sovereign Debt Crisis, Spain
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ECB: Monetary Policy Transmission – Interest Rate Channel System, Reserves & the Interbanking Market
Having looked at the tools available to the ECB and at its balance sheet, after considering financial market failures due to Fractional Reserve Banking, overlending and VaR, I would like to turn my attention to the actual operation of monetary … Continue reading
Posted in Aides Memoire, Banking, ECB
Tagged Aides Memoire, Banking, Banking crisis, CDS, Collateral, Counter-party risk, Debt auctions, debt repurchases, Deposit Facility, ECB, EONIA, EUREPO, EURIBOR, interbanking, interbanking rates, intermediation, Liquidity Risk, LTROs, Marginal Lending Facility, Maturity, MRO, OIS, Overnight Index Swap, Reserve Base, Reserve Ratio, Reserve requirements, Reserves, Risk free interest rate, Sovereign Debt Crisis, Term Premium, Term Spread, Yield curve
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ECB Balance Sheet: Composition, Scope and Limits
Having considered some of the inner workings of how commercial and investment banking works from the point of view of (1)Banking intermediation, Fractional Reserve Banking and Bank runs, (2) Asymmetries of Information, Overlending and the Output gap, and (3) Leverage … Continue reading
Posted in ECB
Tagged Assets, Balance Sheet, Buiter, CBPP, Debt Monetisation, ECB, ECB Balance Sheet, exchange rate crisis, hyperinflation, Liabilities, seignoreage, SMP, Sovereign Debt Crisis
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Week Ahead Calendar: 27/01/2012 to 03/02/2012 – Schedules and Optimism
Once again, please find below a list of the eventful days ahead. The main sources are Unicredit’s Weekly Focus, Forex Trading weekly calendar, the EU’s general calendar, the EU’s national issuance calendar and many others, all of which I advise you to consult directly. I found … Continue reading
Posted in Uncategorized, Week Ahead
Tagged Debt auctions, EU Council, EU Council Meetings, France, Germany, Greece, Inflation, Italy, Labour Market, Sovereign Debt Crisis, Spain
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Weekly Bond Yield developments in the Euro Area (W4.2012): Greece Negotiations and Portuguese Yields
In the week that that passed the Euro-Zone economy was marked by an emphasis (of the media and of analysts) on positive data releases, both in Europe and in the USA. On the down side, fruitless Greek PSI negotiations caused … Continue reading
Market Volatility: with thanks to True Economics
True Economics, has very interesting charts of 3-sigma-plus stock market volatility accross the UK, France, Germany, the US and world stock markets. To argue that the ongoing period of volatility represents a repricing of stock markets, associated with the financial … Continue reading
Portuguese Labour Market Reforms: The Table of Contents
The Portuguese Government reached a “Growth, Competitiveness and Employment Compromise” today with social partners (employers and employee organisations). The daily “Sol” made a copy of the text available online, in Portuguese. Labour market reform is extremely important for the recovery … Continue reading
Euro-Update (30): Markit Surveys, US-Iran tensions & €Z interventions
The web is awash with news reports about regional and world economics. The focus is on the recent Markit Survey results, published in the last 2 days, as well as the US-Iran tensions, bond and forex markets. Here’s my overview. … Continue reading
Posted in Current Events, Euro-zone Update, Uncategorized
Tagged CBPP, Covered Bond Purchasing Programme, ECB, Iran, LTRO, Markit, Oil, PMIs, Securities Market Programme, SMP, Sovereign Debt Crisis, USA
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