Rabbit, Meet Hat: Here’s How To End QE Without Ending QE, According To Sweden

Call it a “sleight of hand”…


The Clock Is Ticking: Full Week Ahead Preview

All in all, “no rest for the weary” if you’re a market observer/trader. 

More Questions, Less Answers.

Not what I would call an “upbeat” session.

No ‘Apocalypse Now’, But Maybe Later – Full Week Ahead Preview

This week’s market-moving events are likely to be unscheduled. Remember, Irma is still a catastrophic natural disaster even if it didn’t quite turn into a scene out of a bad Jake Gyllenhaal movie. And as the above mentioned Ben Purvis notes, “Kim Jong Un [could decide] to inject himself into the conversation again,” at any time.

‘Sorry, But It’s Crazy’ – Riksbank Decision And The Policymaker Paradox

“Krona has appreciated faster than in [our] July forecast and while it’s reasonable to expect krona to appreciate due to the strong economy, it’s important that it doesn’t strengthen too rapidly,” Ingves said at the press conference, before stating the obvious as follows: “There are risks if Riksbank makes policy less expansionary before other, larger central banks.”

‘Monster Strong’ Numbers Trigger Surge In Krona, Riksbank Now In A Bind

“Very punchy, blowing away economists’ estimates”…

Krona Slides Most In Two Months As Riksbank Minutes Add To Central Bank Confusion

So, the Riksbank. That’s the folks in Sweden. You know, the people Paul Krugman called “sadomonetarists” in a truly cartoonish 2014 blog post. Those would be the same “sadomonetarists” who abandoned their sadomonetaristic tendencies to follow Mario Draghi down the accommodative policy, ZIRP-to-NIRP, QE rabbit hole in order to ensure the krona didn’t soar in the face…

‘Billions And Billions And Billions’: ECB, BoJ, And Your Full Week Ahead Preview

If you didn’t get your fill of hand-wringing over DM central banks last week, then you’re in luck…

Krona Surges! I Found Some Inflation In Sweden

Earlier this month, the Riksbank removed the easing bias from their outlook.

They had too. Do you remember why? 

Albert Edwards, FT’s Katie Martin Take On The Mighty ‘Rikshog’

“But a combination of aggressive QE and -0.5% interest rates has not just resulted in a very robust economy, but a totally overheated and out of control housing bubble – one which makes Australian and Canada house price bubbles look merely pedestrian!”

Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday

Ok, so as detailed earlier this morning, the first thing you should note about the overnight session was the action in the loonie and peso following Donald Trump’s decision to avoid ripping apart NAFTA (for the time being). You can read the full story on that with some additional color from FX trader Mark Cudmore…

“Grinchs” Should Have “Stayed In Bed”, SocGen Says

“The Grinch and Scrooge had better stay in bed this morning”…

Daily Kickstart (Swedish Edition)

It makes total sense to take some money off the table. We’ve priced in no policy mistakes. We’ve priced in no market accidents, and we’ve ignored all sorts of political issues. That’s from Mohamed El-Erian and the former PIMCO chief could scarcely be any clearer. This week the market has taken apathy to a whole new…