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  • 1y
    ekom ekom
    not yet
    1y
    O.Rivers O.Rivers
    Hello Christopher,
    Could you please help me with the calculation of the Credit Impulse? I thought it is simply the change in credit growth:
    Credit = Total Credit to...
  • Editor’s Picks / 12 July 2016 at 3:03 GMT

    Japan turns again to Bernanke as fruits of Abenomics wither

    Bloomberg
    Less than three weeks before the Bank of Japan’s next scheduled policy meeting, Governor Haruhiko Kuroda met with former Federal Reserve Chairman Ben Bernanke. Chris Anstey writes that the BoJ issued no statement on the substance of the talks, which come as the central bank confronts a fresh strengthening in the yen this year that risks undermining inflation and weakening the appetite for investment and wage increases. For Bernanke, offering views on Japan’s challenges and policy options is nothing new. He delivered a famous 2003 speech calling for greater cooperation between monetary and fiscal policymakers to defeat deflation and spur the economy.
    Read article on Bloomberg
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    3y
    charitymemae charitymemae
    This comment has been redacted
  • Article / 15 April 2016 at 5:01 GMT

    3 Numbers: Hopes for US industry boost from new orders

    Blogger / MoreLiver's Daily
    Finland
    3 Numbers: Hopes for US industry boost from new orders
    It looks like a quiet data day ahead of the IMF weekend and next week's ECB meeting. US industrial production will be the most important release. After a long deterioration, the manufacturing PMI is now promising a turnaround. Consumers are also feeling relatively upbeat. Meanwhile in Europe, the trade surplus has been hit by the stronger euro and the weak global demand.
    Read the article
  • Editor’s Picks / 17 December 2015 at 8:39 GMT

    Negative rates could join Fed arsenal: Bernanke

    MarketWatch
    The US Federal Reserve may have just raised interest rates for the first time in nearly a decade, but former chair Ben Bernanke is still looking out below. "I think negative rates are something the Fed will and probably should consider if the situation arises," the central banker told MarketWatch yesterday, although he did note that “the scope for negative nominal rates is fairly limited". The suggestion came as Bernanke was asked to consider the Fed's possible reaction to another economic downturn, with the former chair stating that he was surprised to see negative rates employed without any great negative results in European nations such as Denmark, Sweden and Switzerland. During the financial crisis, Bernanke and his colleagues decided not to employ negative rates out of concern that they would cause unpredictable knock-on effects.
    Read article on MarketWatch
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  • Article / 12 November 2015 at 10:57 GMT

    Steen's Chronicle: Primitive Economy redux

    Chief Economist & CIO / Saxo Bank
    Denmark
    Steen's Chronicle: Primitive Economy redux
    It’s time for this year's final update of our forward looking model for 2016. We present The Primitive Economy, the crude economic model we are now reduced to following after years of poor policy responses from central banks and a marked lack of reform by politicians.
    Read the article
    4y
    Gord Vancouver Gord Vancouver
    Comprehensive, insightful, and very helpful as always Steen. Not only for me and my Baby Boomer peers but also for our children which have already begun to...
    4y
    Steen Jakobsen Steen Jakobsen
    Gord - you too kind - ty
  • Editor’s Picks / 06 October 2015 at 10:38 GMT

    Bernanke's big inflation blunder

    The Economist
    Former US Federal Reserve chief Ben Bernanke has a book out and is doing the rounds as part of the promotion, but the Economist cannot help feeling Janet Yellen's predecessor missed a trick in 2011 when he considered a change in the Fed's monetary policy target from an inflation rate to a growth rate for nominal GDP. The ultimate decision to stick with an inflation-targeting stance in January 2012 of 2% effectively restricted the Fed's freedom of action and has led directly to the impasse over interest rates that prevails today. By failing to take the bolder decision in 2011, the Fed "made itself a prisoner of its own complacency" and condemned the US to a decade of dangerously low inflation and interest rates.
    Read article on The Economist
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    4y
    Jim Earls Jim Earls
    Typical misunderstanding by business media-inflation does not bring 'economic growth'.
    4y
    Clare MacCarthy Clare MacCarthy
    Neither the above extract nor Ryan Avent's original Economist article suggest what you say they do, Jim. The point is this: inflation targeting is a blunt and...
    4y
    fxtime fxtime
    Remember also inflation in a controlled manner devalues existing debt for governments and ofcourse the average tax payer. How many times has a home owner been amazed...
  • Article / 02 October 2015 at 12:00 GMT

    Steen's Chronicle: Meet Mr and Mrs Consensus

    Chief Economist & CIO / Saxo Bank
    Denmark
    Steen's Chronicle: Meet Mr and Mrs Consensus
    The US, its policymakers, its investors and its analysts are in thrall to a foolish narrative – that China must and will fail. The consensus on this is as breathtaking as it is arrogant and they are all guilty of ignoring what's really going on in China, where emerging markets are actually headed and what medicine the American economy really needs.
    Read the article
    4y
    El súper petrolero El súper petrolero
    steen is olmost ok.... but first watch 20% correccion then the aud usd 80
    4y
    pairstrader1 pairstrader1
    FED is lost. Complete guidance failure. I couldn't agree more.
    4y
    Sam Me Sam Me
    20% Gold... nice. But to be "out of consensus" and considering the strict correlation between XAUUSD and JPYUSD (see chart), why not going short on JPY and...
  • Squawk / 01 October 2015 at 19:14 GMT
    Chief Economist & CIO / Saxo Bank
    Denmark
    Goodbye Fed hike - best indicator of US growth now looking at sub 1% growth in Q3!

    Just back from US - full note tomorrow, but:

    - FED is looking in wrong direction
    - China is predicted to gloom but will semi-boom
    - EM is under-loved..

    Attended major macro conference - investors and central bankers confused, disoriented....

    Meanwhile.... short US$ looks more and more attractive - observe these two charts:
    Read the Squawk
    4y
    Therron Therron
    Citi economic surprise index
    4y
    lahla lahla
    Mr Jakobsen,this indicator had projected US GDP Q2 at 0,7% on May 20th according to Your squawk (copied below). So far the estimate for the US Q2...
    4y
    yuiyui yuiyui
    Thank you Therron