Lira collapse post-mortem: Contagion lite

Lira collapse post-mortem: Contagion lite

Fixed Income Research & Macro Strategy (FIRMS) from Olivier Desbarres at 4X Global Research 17 August 2018 Since 5th August the Turkish Lira is down about 17% versus the Dollar and 15% in nominal effective exchange rate (NEER) terms and the concern remains that...
One extreme to another: A price worth paying?

One extreme to another: A price worth paying?

Fixed Income Research & Macro Strategy (FIRMS) from Olivier Desbarres at 4X Global Research Developed and emerging market central banks have started to “normalise” monetary policy, albeit at a slow pace. However, they have been largely powerless to deal with the...
Every which way but tight

Every which way but tight

Fixed Income Research & Macro Strategy (FIRMS) from Olivier Desbarres at 4X Global Research The go-to buzzword of “Policy normalisation” in developed economies refers to the reversal of monetary loosening policies introduced during the 2008 great financial crisis...

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