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ECB Now a Hedge Fund; €1T Bazooka; ECB Promotes Euro Carry Trade; Draghi Has it Backwards

MishTalk

Question: Mr Draghi, you said that the new measures and the TLTROs will have a sizeable impact on your balance sheet. You have the TLTROs which are going to unfold over several operations over two years initially, then two more years. Please consider an ECB Press Conference Q&A (not available when I commented yesterday).

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Mish's Global Economic Trend Analysis: Reader Question: Does the.

MishTalk

Patrick Housing Crash News Top Housing and Commercial Real Estate News. Balanced Budget Ammendment Sign the Balanced Budget Petition. Bay Area Real Estate Trends. Reader Question: Does the Fed Balance Sheet Properly Reflect QE Announcements? The feds balance sheet doesnt reflect it.

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Mish's Global Economic Trend Analysis: China Manufacturing.

MishTalk

Patrick Housing Crash News Top Housing and Commercial Real Estate News. Balanced Budget Ammendment Sign the Balanced Budget Petition. Bay Area Real Estate Trends. Operating conditions have now worsened for two successive months. GoldMoney: The Best Way to Buy Gold & Silver. Pension Tsunami.

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BIS Slams the Fed; Ridiculous Question of the Day: "Is The Fed Going To Attempt A Controlled Collapse?"

MishTalk

This has been labelled the “second phase of global liquidity”, to differentiate it from the pre-crisis phase, which was largely centred on banks expanding their cross-border operations. Historical evidence shows that this rarely happens following a balance sheet recession.

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China Cash Crunch Eases, For How Long? Three Things China Needs to Avoid; When can Beijing Truly move to Market-Determined Interest Rates?

MishTalk

The certificates of deposits will push banks closer to an operating environment in which rates are deregulated and are also aimed at improving the circulation of cash in the country’s interbank market. One impact of the shadow banking system is an implicit and hidden “reduction” in China’s real minimum reserve requirement.

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Banks – Industry Overview

Tom Spencer

Historically, commercial banking and investment banking functions have been separated by law – these restrictions have since been repealed and larger banks tend to take on capital markets operations due to the complimentary nature of the businesses. In secondary markets, the sales & trading function operates as a market maker.

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Pettis Proposes Savings Glut and Income Inequality are Source of Global Imbalances; Mish vs. Pettis: I Respectfully Disagree

MishTalk

This model rests on an understanding of how distortions in the savings rates of different countries have driven the great trade and balance-sheet distortions with which we are wrestling today, just as they have in most previous global crises, including those of the 1870s, the 1930s, and the 1970s.

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