Monthly Archives: February 2012

Week ahead Calendar: 27/02/2012 to 01/03/2012: M3, Italian and Spanish bond auctions, LTRO and CPI

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 Unicredit’s … Continue reading

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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

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ECB Market Intervention: Covered Bond Purchasing Programme (CBPP)

Having looked at the tools available to the ECB, at its balance sheet, and at the transmission of monetary policy into the interbank lending market.after considering financial market failures due to Fractional Reserve Banking, overlending and VaR, I would like … Continue reading

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Week ahead Calendar: 20/02/2012 to 24/02/2012: Greece, PSIs, Finance Ministers’ Meetings, Forecasts and Italian Debt Auctions

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 Unicredit’s … Continue reading

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Weekly Bond Yield developments in the Euro Area (W7.2012): GDP, Industrial Production, Debt Swaps and ECB Seniority

This week was expected to be marked by GDP releases, by bond auctions in Italy and Spain and by clarifications over the way the ECB would support the new adjustment programme for Greece. Aside from these, the European Commission’s “First … Continue reading

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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

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Week ahead Calendar: 13/02/2012 to 17/02/2012 – GDP figures and Spanish & Italian auctions

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 Unicredit’s … Continue reading

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Weekly Bond Yield developments in the Euro Area (W6.2012): Divide & Conquer, ECB haircut and banking consolidation

The past week was supposed to be a rather calm one. Events unfolded relatively as expected with the exception of some developments in the Spanish and Italian banking sectors: PMIs delivered a grim picture of economic conditions in Europe, despite … Continue reading

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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

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Week ahead Calendar: 06/02/2012 to 10/02/2012 – Calm week?

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 Unicredit’s … Continue reading

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