Improvement in Japan SMEs' earnings is also likely to benefit wages
Mar 09, 2015 17:28 pm UTC| Commentary
Japan non-financial companies recurring profits totaled 18,065.1bn and their recurring margin reached 5.3% in October-December 2014, the highest levels since the data started.The improvement in corporate earnings and...
ECB's macroeconomic outlook consistent with the success of QE
Mar 09, 2015 17:15 pm UTC| Commentary
European Central Bank (ECB) President Mario Draghi laid out an outlook that is consistent with the success of QE without calling into question the commitment to QE.He clarified the technical feasibility of the program and...
US economy to get back on its 3% recovery track
Mar 09, 2015 17:01 pm UTC| Commentary
US economy added 295,000 jobs in February while the unemployment rate fell to 5.5%. Wage growth, however, is stubbornly low.BofA Merrill Lynch notes in a report on Monday: After a string of weak retail sales reports, we...
Markets do not see approaching policy regime shifts outside the US
Mar 09, 2015 16:54 pm UTC| Commentary
The G-4 central banks are in all-out campaign for regime change: after six-plus years, the Fed and the BoE are gearing up to exit from the rates "zero lower bound", while the ECB and the BoJ are stretching their toolkits...
Lower EUR heightens concerns about deflation risks
Mar 09, 2015 16:15 pm UTC| Commentary
BofA Merrill Lynch notes in a report on Monday: The decline of EUR/USD below 1.10 may be less benign than it may appear at first. We believe it is likely to exacerbate an exit from EM, increase the risk of an RMB...
ECB QE likely to generate EUR negative flows
Mar 09, 2015 16:11 pm UTC| Commentary
BofA Merrill Lynch notes in a report on Monday: Markets have gone a long way to price in ECB QE, but the start of the ECBs actual bond purchases is likely to generate EUR negative flows. In our view, a high share of...
Rising USD fuels recoupling concerns
Mar 09, 2015 16:09 pm UTC| Commentary
BofA Merrill Lynch notes in a report on Monday: The positive correlation between US equities and the USD that reached a 15-year high only three months ago has started to collapse. This likely signals that investors are...
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