The dream of the Euro becoming world reserve currency has had a bit of a rough year in 2015. The world’s most prominent bureaucurrency just kept on losing ground as the share of international forex reserves goes:Down from 28% in 2009 to 20.3% in 2015, …
While IMF (belatedly) is warning about the risks of slower global growth, the Baltic Dry Index – a strong instrumental variable for global trade flows – has been sinking and sinking, like a brick searching for the bottom.Yes, IMF did project back in Oc…
U.S. Junk Bonds markets have been a canary in the proverbial mine of the global economy since 2014, when we first felt some tremors in the markets.
Now, couple more victims of that fabled ‘normalization’ that few in the markets expected.
With the pause in ECB QE over the holidays season, bond markets have been largely looking forward to 2016 and counting the blessings of the year past.
Per latest report from the Economy Ministry, Russian GDP contracted 0.3% m/m in November in real terms and is down 3.7% y/y over 11 months through November 2015.
Forecasters see the Russian economy contracting slightly in 2016.
Anyone watching financial markets and economics in 2015 would know that this year was marked by a huge rise in volatility. Not the continuous volatility along the established trend, but a ‘surprise’ volatility
Remember all the deleveraging the U.S. economy has gone through during the crisis? Why, sure, we’ve learned a lesson about too much debt, did we not?
With the optimism of Christmas week forecast (traditionally keen on stressing the upside to the global economic conditions), let’s not forget the Baltic Dry Index:As the chart above shows, global trade ain’t doing too well in this *finally repaired* an…