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Beneath the ugly face of second half 2014 lies the beauty of opportunity in 2015
trueIn our view, the coming year will resemble more the volatility of the second half of 2014 than the prolonged, virtually uni-directional (i.e., up!) market that leveraged credit investors have enjoyed over the past several years.
Political risk threatening to offset potential European growth
truePolitical risk is taking center stage for global money managers as they consider their stance on Europe, offsetting the potentially economy-boosting effects of a new quantitative easing program for the eurozone.
Federal funds rate likely to stay low 'for some time'
trueThe Federal Open Market Committee repeated Wednesday that “it can be patient in beginning to normalize” monetary policy, but members declined to predict when they might be ready to raise the federal funds rate from the current zero to 0.25% target range, said a statement at the end of a two-day ...
Managers surprised by scope of ECB's bond-buying program
trueThe European Central Bank announced it will begin €60 billion ($69.4 billion) of public and private debt purchases per month as part of a quantitative easing strategy, in what money managers said was a surprise move in terms of size and one that is expected to further weaken the euro and spark ...
Canada cuts key rate as oil shock clobbers inflation outlook
trueThe Bank of Canada became the first central bank in the Group of Seven to cut interest rates in response to plummeting oil prices, saying the shock will weigh on everything from inflation to business spending.
BofA: Managers remain optimistic on growth despite growing concerns
trueMoney managers are reducing their cash holdings despite concerns over corporate profits and inflation, said Bank of America Merrill Lynch’s monthly fund manager survey.
Be aware of your assumptions
trueSince 2009, investors and markets have been highly sensitive to risk — and markets have offered high risk premiums. As these risks have gradually diminished, all asset classes have benefited. Equities have risen, bonds have rallied and, generally speaking, long-only investors have benefited. ...
OECD warns European Central bank needs stronger policies to avoid stagnation
trueThe European Central Bank must implement stronger policies if it is to avoid a prolonged period of stagnation, and to prevent unintended effects to other economies, warned the Organization for Economic Co-operation and Development.
Bank of Japan expands QE program in surprise move
trueBank of Japan announced an expansion of its quantitative and qualitative easing program, shocking the currency markets and bolstering stocks.
Fed stops bond buying, stays with federal funds rate near zero
trueThe Federal Open Market Committee’s bond-buying program will end this week, members announced Wednesday at the end of a two-day meeting, citing “substantial improvement” in the labor market outlook and underlying strength in the broader economy.
Fed: One more month of tapering, funds rate stays low
trueMembers of the Federal Open Market Committee voted to finish tapering their bond-buying program with a final $15 billion in purchases in October.
ECB's new asset purchases could total €2 trillion
trueThe European Central Bank announced Thursday it would begin purchasing asset-backed securities and covered bonds in an effort to prop up the region's economy and spur inflation. According to a Citi report, the eligible assets could potentially total more than €2 trillion of the eurosystem's €14.1 ...
Fed officials: Job gains might bring faster rate increase
trueFederal Reserve officials raised the possibility that they might begin removing aggressive stimulus sooner than anticipated, as they neared agreement on an exit strategy, according to minutes of their July meeting.
Inflation protection — better to be safe, not sorry
trueSometimes it takes a crisis to make us all realize that, yes, inflation can always be lurking just over the horizon.
ECB's interest rate cut could put pressure on pension fund liabilities
trueThe European Central Bank’s decision to further cut interest rates in an effort to stave off deflation have been met with mixed reactions by money managers.