For most of the last 15 years collateral was scarce As the financial system shifted towards collateralised funding demand for safe assets grew But there is a limit The amount

You will return to the scene of the crime when the river runs dry Hunters and Collectors Those of a certain age and geographical bias will remember Hunter and

There s been pulse quickening among de dollarisation enthusiasts over developments in a project called mBridge The excitement appears completely misplaced De dollarisation is a popular hobby by all sorts

A few days ago I argued QE may re appear in both Europe and the United States possibly within a year A resumption of balance sheet expansion by the Federal

A quick one Yesterday Fed governor Michelle Bowman laid out a determined argument against further capital imposition on the US banking system 8211 in line with our expectations a few

A question among friends arose this week will the ECB or the Fed restart QE first The ECB seems to face an epochal economic threat that may demand QE quicker