Testimony

Yellen Warns Of Excessive Risk-Taking In Testimony, Says Hike "Appropriate Soon", No Mention Of Election

Janet Yellen signalled that the US central bank is reluctant to delay its next increase in short-term interest rates "for too long", warning that keeping rates on hold could spur excessive risk-taking and adding that a rate hike could be appropriate "relatively soon." Yellen is due to say on Thursday morning that as the Fed sees the case for a rise in rates continuing to strengthen it "must remain forward looking in setting monetary policy".

Frontrunning: November 17

  • Dollar halts charge as bashed bonds steady (Reuters)
  • BOJ Fires Warning at Bond Market With Unlimited Buying Plan (BBG)
  • Trump Flouts Traditions Heading Into an Office Defined by Them (BBG)
  • Mr. Hedge Fund Goes to Washington, Looking for Ally in Trump (BBG)
  • Donald Trump’s Son-in-Law, Jared Kushner, Could Get Key White House Role (WSJ)

BOJ "Fires Warning At Bond Market" Sending Global Yields, Dollar Lower; All Eyes On Yellen

Global bond yields and the dollar both weakened after the Bank of Japan offered to buy an unlimited amount of debt at fixed yields, stabilizing the global bond rout, while investors awaited testimony from Fed Chair Janet Yellen that will help shape the outlook for interest rates ahead of a December rate hike that is now seen as near certain.

"A Barrage Of Fed Speakers": The Key Events In The Coming Very Busy Week

As markets continue to digest the implications of the US election outcome, there is a host of data and Central Bank communication adding to the running narrative with Fed speakers appearing on every single day of the week. In addition to barrage of daily Fed speakers, including Chair Yellen, we get US inflation data, retail sales, housing data, empire manufacturing, industrial production and the Philly Fed.

Europe's New 'Blasphemy Courts' Exposed

Europe is currently seeing the reintroduction of blasphemy laws through both the front and back doors, initiated in a country which once prided itself on being among the first in the world to throw off clerical intrusion into politics.

Is This Hillary's Watergate?

Donald Trump says this is worse than Watergate. As of now, it is only potentially so. But if Hillary Clinton, this distrusted and disbelieved woman, does take the oath of office on Jan. 20, there is a real possibility that, like Nixon, down the road a year or two, she could be forced from office. Do we really want to go through this again?