Newsletter 15 April 2015 - Armstrong Investment Managers
... zero-rate environment but it may well perform entirely differently at non-zero rates. There is still a while before the effective fed funds rate trades within the target range but an early hike this summer ensures the Fed does not fall behind on rate policy and provides crucial breathing time to tes ...
... zero-rate environment but it may well perform entirely differently at non-zero rates. There is still a while before the effective fed funds rate trades within the target range but an early hike this summer ensures the Fed does not fall behind on rate policy and provides crucial breathing time to tes ...
impact of global financial crisis on investors` psychology : an analysis
... been deeper in India than what was estimated by our policy makers though it is less severe than in other emerging market economies. The extent of impact has been restricted due to several reasons such as● ...
... been deeper in India than what was estimated by our policy makers though it is less severe than in other emerging market economies. The extent of impact has been restricted due to several reasons such as● ...
Last quarter, we cautioned that conditions were right for a
... gains and overly optimistic investor sentiment were grapple with what the plans means for stocks. However, the QE exit strategy remains dependant on continued improvement in employment and GDP growth. fueled by Federal Reserve policy. Investors had been driven out of cash in search of higher yields ...
... gains and overly optimistic investor sentiment were grapple with what the plans means for stocks. However, the QE exit strategy remains dependant on continued improvement in employment and GDP growth. fueled by Federal Reserve policy. Investors had been driven out of cash in search of higher yields ...
POLICY CONFUSION, CROWDED TRADES, AND A RISE IN Highlights
... As we begin to see nascent signs of wage inflation, there are also secular dynamics at play (in the energy sector, in particular) that are creating what might be termed “positive disinflation.” Specifically, since mid-2014 we have seen commodity prices decline across the board, resulting in an effec ...
... As we begin to see nascent signs of wage inflation, there are also secular dynamics at play (in the energy sector, in particular) that are creating what might be termed “positive disinflation.” Specifically, since mid-2014 we have seen commodity prices decline across the board, resulting in an effec ...
public_bodies
... or international organisation. It must be able to prove that it has the guarantee of the state. The proof must be an explicit statement from a public authority of a Member State or Associated State confirming that it will guarantee any financial claim made by the Commission vis à vis the entity. 2. ...
... or international organisation. It must be able to prove that it has the guarantee of the state. The proof must be an explicit statement from a public authority of a Member State or Associated State confirming that it will guarantee any financial claim made by the Commission vis à vis the entity. 2. ...
Document
... Structure of the Financial System • The financial system comprises banks, insurance companies, mutual funds, finance companies, and investment banks. • The financial intermediaries are institutions that borrow funds from people who have saved and in turn make loans to others • Questions to be answe ...
... Structure of the Financial System • The financial system comprises banks, insurance companies, mutual funds, finance companies, and investment banks. • The financial intermediaries are institutions that borrow funds from people who have saved and in turn make loans to others • Questions to be answe ...
Chapter 12: The Financial System and the International Economy
... to discuss how changes in the money supply (M) can lead to changes in prices (P) and output (Q). 5. Discuss how the gold standard imposes fiscal discipline on a central bank and its government. 6. Define balance of payments. Explain that the U.S. gives other countries U.S. dollars when it imports to ...
... to discuss how changes in the money supply (M) can lead to changes in prices (P) and output (Q). 5. Discuss how the gold standard imposes fiscal discipline on a central bank and its government. 6. Define balance of payments. Explain that the U.S. gives other countries U.S. dollars when it imports to ...
Sustainability
... • In part that is because it creates greater incentives for opportunistic policy behavior. • Now the dollar has a credible competitor, the euro. • We know that vehicle currency status depends on network externalities--could there be a tipping point given the current idiosyncratic course in American ...
... • In part that is because it creates greater incentives for opportunistic policy behavior. • Now the dollar has a credible competitor, the euro. • We know that vehicle currency status depends on network externalities--could there be a tipping point given the current idiosyncratic course in American ...
mmi07 Illing 4349405 en
... monetary policy. Private agents, anticipating such an asymmetric response, may be encouraged to take excessive risks, thus building up stronger imbalances and so aggravating the underlying asymmetry (see Illing 2004). In order to prevent excessive risk taking, the central bank may be inclined to com ...
... monetary policy. Private agents, anticipating such an asymmetric response, may be encouraged to take excessive risks, thus building up stronger imbalances and so aggravating the underlying asymmetry (see Illing 2004). In order to prevent excessive risk taking, the central bank may be inclined to com ...
The impact of Brexit on the City and the British
... need to renounce their macro-economic autonomy and integrate their monetary policy-making through global agreements and institutions. However, the decision by the UK government not to join the European Monetary Union (EMU) demonstrates that, in the trade-off between the stability of the exchange rat ...
... need to renounce their macro-economic autonomy and integrate their monetary policy-making through global agreements and institutions. However, the decision by the UK government not to join the European Monetary Union (EMU) demonstrates that, in the trade-off between the stability of the exchange rat ...
Presentation, Powerpoint 2.4Mb - The Cambridge Trust for New
... • Empirical literature shows evidence that capital flows to Latin America have been most determined by push factors (for instance, economic policy of the developed countries) rather than to pull factors (associated to domestic factors). • After a succession of currency crises, Latin American countri ...
... • Empirical literature shows evidence that capital flows to Latin America have been most determined by push factors (for instance, economic policy of the developed countries) rather than to pull factors (associated to domestic factors). • After a succession of currency crises, Latin American countri ...
The Global Economy: Where Do We Go from here?
... Worry about asset bubbles (especially in emerging markets) is leading to currency interventions, capital ...
... Worry about asset bubbles (especially in emerging markets) is leading to currency interventions, capital ...
During the last few years, Harry Davis Industries has
... capital investments. Recently, though, capital costs have been declining, and the company has decided to look seriously at a major expansion program proposed by the marketing department. Assume that you are an assistant to Leigh Jones, the financial vice president. Your first task is to estimate Har ...
... capital investments. Recently, though, capital costs have been declining, and the company has decided to look seriously at a major expansion program proposed by the marketing department. Assume that you are an assistant to Leigh Jones, the financial vice president. Your first task is to estimate Har ...
- Mark E. Moore
... restatement thresholds and the process by which you will be restating (adjusting) the past 5 years financial statements. Discuss the assumptions made (do not adjust for income taxes) Discuss how the restatements affect your view of the firm (profitability and leverage issues). Prepare and pres ...
... restatement thresholds and the process by which you will be restating (adjusting) the past 5 years financial statements. Discuss the assumptions made (do not adjust for income taxes) Discuss how the restatements affect your view of the firm (profitability and leverage issues). Prepare and pres ...
Improving National Statistical Systems
... Session title: “Are National Statistical Systems Effective?” Answer to this is an unequivocal ‘yes’ ...
... Session title: “Are National Statistical Systems Effective?” Answer to this is an unequivocal ‘yes’ ...
74 KB - Financial System Inquiry
... Intrigued by the post-GFC debate on regulation, we have for the last few years investigated the costs of misallocated capital using so-called Computable General Equilibrium (CGE) models, and published the results in two credible journals.1 In Menzies et al. (2011) the question was asked whether misa ...
... Intrigued by the post-GFC debate on regulation, we have for the last few years investigated the costs of misallocated capital using so-called Computable General Equilibrium (CGE) models, and published the results in two credible journals.1 In Menzies et al. (2011) the question was asked whether misa ...
First Industrial Realty Trust
... • Traditionally, small local players dominated the market due to lack of access of capital market • Now, in a transition to an Oligopolistic Industry • Customers bargaining power low • Risk: Harder to liquidate investments than other industries ...
... • Traditionally, small local players dominated the market due to lack of access of capital market • Now, in a transition to an Oligopolistic Industry • Customers bargaining power low • Risk: Harder to liquidate investments than other industries ...
The Role of the Financial Sector
... Credit Guarantee programs “crowd in" the private sector. By providing a partial guarantee, the risk of lending by the financial institution is reduced and this allows currently credit constrained firms to obtain more credit, effectively expanding collateral. Partial credit guarantees are potentially ...
... Credit Guarantee programs “crowd in" the private sector. By providing a partial guarantee, the risk of lending by the financial institution is reduced and this allows currently credit constrained firms to obtain more credit, effectively expanding collateral. Partial credit guarantees are potentially ...
U.S. Recession Mitigating Strategies: Lessons from Thailand:
... economic responses that were used to mitigate the effect of the crisis and the lessons that can be learned from these responses. He recognizes the difficulty in stopping a crisis once it starts building momentum because in the short run capital is extremely mobile and suggests that prevention is the ...
... economic responses that were used to mitigate the effect of the crisis and the lessons that can be learned from these responses. He recognizes the difficulty in stopping a crisis once it starts building momentum because in the short run capital is extremely mobile and suggests that prevention is the ...
KAVAR Canvas - Kavar Capital Partners, LLC
... Fears of any Federal Reserve Bank interest rate alterations The Fed meets this week, a 2-day dalliance from which will emerge a surgically dissected diatribe detailing the direction of their interest rate influence. Under the auspice of “stimulative monetary policy,” the Fed has held rates very low ...
... Fears of any Federal Reserve Bank interest rate alterations The Fed meets this week, a 2-day dalliance from which will emerge a surgically dissected diatribe detailing the direction of their interest rate influence. Under the auspice of “stimulative monetary policy,” the Fed has held rates very low ...
economic insight GREATER CHINA Quarterly briefing Q3 2013
... propensity to save. Not only is China’s debt relatively low, but it is also largely held domestically – external debt is only about 7.2% of GDP. This gives the Chinese government far more power to deal with any financial difficulties than the governments of advanced countries, which rely on the supp ...
... propensity to save. Not only is China’s debt relatively low, but it is also largely held domestically – external debt is only about 7.2% of GDP. This gives the Chinese government far more power to deal with any financial difficulties than the governments of advanced countries, which rely on the supp ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.