Yields on 10-year JGBs and Bunds are approaching zero. But the meaning of near-negative interest rates is different in Japan than in Germany.
Tag Archives: Carl Weinberg
Sad day for the global economy
While the United States fights a futile trade war with China, the rest of the world loses.
Whose inflation forecast do you believe?
The ECB’s plan for ending asset purchases hinges on a questionable CPI forecast.
Could Iran sanctions advance yuan globalization?
In principle, Iran could sell its oil for yuan, running the transactions through China-based financial institutions, futures markets and clearing institutions.
Where have the world’s consumers gone?
Low wage growth may morph from an inexplicable aspect of the current economic setting to a driving force behind a credit crunch and broad contraction of aggregate demand.
Credit drought is killing Euro Zone expansion
It is both cheap and easy to blame the Q1 slowdown on bad weather. The real culprit is credit.
Unvalidated PMIs
Contrary to popular belief, we do not hate Markit or its PMIs. We just do not trust them to inform us about what the economy is up to.
China’s financial reforms are linked to petro yuan
Foreigners will need access to high-quality yuan assets—liquid and market-priced—if they are to be induced to hold yuan reserves.
Japan’s case: Inflation from a sales tax hike?
Could a sales tax hike in October 2019 help the BoJ finally reach its inflation goal?
Secular vs cyclical: Japan’s economy is in trouble
Japan’s economy faces a cyclical threat from a massive inventory run-up, on top of its secular decay due to depopulation.