The Fed said they are prepared to buy US Treasuries outright, which is a policy action that can be analyzed from many angles, some more complicated than others. The bottom line is that it increases the probability that we end up paying for the current fiscal expansion and balance sheet problems through the inflation tax read more
This posting will be a short and fairly idiosyncratic note on Argentina’s debt management. Nothing more than that, maybe less… According to an article yesterday in Ambito Financiero, the Argentine government is about to get going on its financing needs for 2009. Apparently, a swap of ‘prestamos garantizados’ (PGs) for local debt linked to floating rate Badlar read more
After a week being back from my favorite southern country (Uruguay), I realize not much has changed in G7’s policy stance. At the same time, markets away from the US banking system seem to be normalizing. I think US policy continues to pollute the picture with its lack of clear direction/diagnostics. Every macro tool available read more
(Articles 1-3 of 3)
