According to the ECB's Bank Lending Survey for October banks eased their credit standards in the last quarter, while their risk perceptions increased.
This apparent contradiction suggests that the 137 banks surveyed were at the...
Alasdair Macleod
Alasdair became a stockbroker in 1970 and a Member of the London Stock Exchange in 1974. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. After 27 years in the City, Alasdair moved to Guernsey. He worked as a consultant at many offshore institutions and was an Executive Director at an offshore bank in Guernsey and Jersey.
Articles by Alasdair Macleod
There is little doubt that deflationary risks have increased in recent weeks, if only because the dollar has risen sharply against other currencies.
Understanding what this risk actually is, as opposed to what the talking heads say...
Understanding what this risk actually is, as opposed to what the talking heads say...
The behaviour of financial markets these days is frankly divorced from reality, with value-investing banished.
Markets have become distorted by Rumsfeld-knowns such as interest rate policy and "market guidance", and Rumsfeld-unknowns...
Markets have become distorted by Rumsfeld-knowns such as interest rate policy and "market guidance", and Rumsfeld-unknowns...
Since WW2 economic theorists have posited that demand in the economy could be stimulated by a combination of deficit spending by the government and by suppressing interest rates.
The separation of demand from production was promoted by...
The separation of demand from production was promoted by...
Last year markets behaved nervously on rumours that QE3 would be tapered; this year we have lived with the fact. It turned out that there has been little or no damage to markets, with bond yields at historic lows and equity markets hitting...
In recent months talking heads, disappointed with the lack of economic recovery, have turned their attention to wages. If only wages could grow, they say, there would be more demand for goods and services: without wage growth, economies...
In September, Scottish residents will vote in the independence referendum, following months of intense political debate between the Yes and No campaigns. Even statements presented as purely financial or economic in nature have not...
All commodities and near-commodities are priced internationally in dollars, and the dollar is used for over 80% of cross-border trade settlements. Consequently the dollar is the base currency for all countries' foreign reserves, giving it...
At the end of July global equity bull markets had a moment of doubt, falling three or four per cent. In the seven trading days up to 1st August the S&P500 fell 3.8%, and we are not out of the woods yet. At the same time the Russell...
June’s FMQ components have now been released by the St Louis Fed, and it stands at a record $13.132 trillion. As can be seen in the chart above, it is $5.48 trillion more than an extension of the pre-Lehman crisis exponential growth trend...
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