Friday, April 25, 2014

25/4/2014: ECB, Denmark & Negative Rates, 'Peripherals' & Russia: today's links


Rumours mills been busy of late with all the talk about ECB doing 'whatever it takes' to get inflation going again. See this for example: http://www.spiegel.de/international/europe/ecb-prepares-measures-to-combat-possible-deflation-a-965636.html

Here is the best take on Denmark's brief brush with ECB's (allegedly) favourite weapon: the negative deposit rates:
http://www.bloomberg.com/news/2014-04-24/danish-central-bank-exits-negative-rates-first-time-since-2012.html


But while we are on topic of things monetary and fiscal, here is Euromoney take on what's been happening in the markets for 'peripheral' sovereign debt (note: my comment at the bottom): http://euromoney.msgfocus.com/c/123DSxhABTIFoVxuegyp64hKZL and alternative link: http://www.euromoney.com/Article/3334400/Category/14091/ChannelPage/8959/Ireland-and-Spain-lead-the-way-on-a-long-road-back-for-the-eurozone-periphery.html

To give you more context, here is the full comment I made:
The numbers cited are even better summarised in my earlier post on the subject here: http://trueeconomics.blogspot.ie/2014/04/2342014-some-scary-reading-from-eurostat.html

Meanwhile, here's what has been happening in the sovereign debt markets today - CDS spreads:



And finally, Russian credit downgrade: http://in.reuters.com/article/2014/04/25/russia-economy-ratings-idINL6N0NH19I20140425
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