Bank of England

Cable Collapse Continues As Carney Unable To Quell Brexit Concerns

The reaction to The House of Commons vote on Article 50 yesterday was overwhelmed by Fed-driven dollar-flows but, despite a relatively hawkish Bank of England this morning, Cable finally caught up to the implications of the vote and that Brits are one step closer to Brexit...

Key Events In The Coming "Big Week" For The US

Markets will again zero in on the U.S. this week, and not just because of Donald Trump. The Federal Reserve meeting and nonfarm payrolls may set a clear direction for dollar and yields for the next few months. Other key releases include ISM, ADP, housing data, personal income & spending, vehicle sales and core PCE.

In Ironic Twist, Britain Was The Fastest Growing Developed Economy In 2016

Who can forget the "doom and gloom" warnings about the fate of the UK should Brexit win? Well, according to the latest confirmation received on Thursday, they were not only wrong but with an ironic twist, because according to the latest GDP report, the UK economy grew by 2% for all of 2016, making it the fastest growing economy among the G7 in the past year.

Declassified CIA Memos Reveal Probes Into Gold Market Manipulation

he CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system.

Martin Armstrong Rages: Ken Rogoff Is "An Elitist Who Has No Respect For The People"

"[Rogoff] has the audacity to say that people should not look at their short-term personal losses, but rather look at the long-term vision of the central banks. He is such an elitist. I cannot find words appropriate to describe how this academic, who has zero experience in the real world, is incapable of comprehending that his Marxist style intervention is creating the next crisis."

Frontrunning: January 17

  • Theresa May pledges clean Brexit break (FT); May Pledges Vote on Brexit Taking U.K Out Of EU’s Single Market (BBG)
  • Donald Trump Warns on House Republican Tax Plan (WSJ)
  • Trump, Fed Headed for Clash Amid Dollar Surge, Economists Say (BBG)
  • China’s Xi Warns Against Trade War in Defense of Globalization (BBG)
  • Morgan Stanley Profit Rises on Surge in Bond-Trading Revenue (BBG)
  • Germany says NATO concerned about Trump 'obsolete' remark (Reuters)

Theresa May To Call For "Clean And Hard Brexit" As UK Warns Of "Market Correction"

According to the Sunday Times, on Tuesday U.K. Prime Minister Theresa May will call for a “clean and hard Brexit’’ saying she’s willing to quit the European Union’s single market to regain control of Britain’s borders and laws. The prime minister’s staff have warned that her words would likely cause a “market correction” that could lead to a fresh fall in the pound.

UK Labour Leader Slammed For "Totally Idiotic" Salary Cap Plan

UK Labour Party leader Jeremy Corbyn has a brilliant idea to 'fix' the supposed income-inequality problem - impose a maximum limit on how much people can earn in Britain. This proposal was immediately met by derision by economists and leaders as "incoherent", "it doesn't make any economic sense at all, and "totally idiotic" - all of which are completely correct.

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2016 Past is 2017 Prologue

We believe that many of the themes and risks of 2016 continue in 2017 and that they are likely to impact markets in the coming months - especially the precious metal markets