Central Bank Machinations with No Exit: ECB Leaks New Thingy, It’s Doing Yield Spread Control by Wolf Richter • Jan 19, 2021 • 186 Comments This is not your grandmother’s “yield curve control.” There is only one thing that could force this ECB absurdity to end: a big bout of inflation.
Extend-and-Pretend Caused Bankruptcies to Plunge in Germany, France, Spain. Now Central Banks Tell Banks to Prepare for Bankruptcy Surge by Nick Corbishley • Oct 16, 2020 • 32 Comments The “second wave,” if prolonged, could cause bad loans to almost triple, to €1.4 trillion, says the ECB.
U.S. Stocks at the Swiss National Bank Balloon to Record: Gains, Bought, Sold, and How it Keeps that Racket Going by Wolf Richter • Aug 5, 2020 • 151 Comments The SNB Top 40. As long as the SNB can bamboozle global speculators into chasing after the incredibly watered-down tiny Swiss franc…
Why’s the ECB Buying the Debt of So Many Non-EU Companies? by Nick Corbishley • Aug 4, 2020 • 42 Comments “Companies from outside the euro zone are setting up vehicles to issue debt in euros and thereby qualify for the ECB’s purchase programs.”
Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt by Nick Corbishley • Jun 29, 2020 • 36 Comments Central-Bank Forked-Tongue Syndrome.
Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted by Nick Corbishley • Jun 23, 2020 • 20 Comments But the ECB went into high gear to soothe the pain of the banks.
Plot Thickens on End of QE & Start of Shedding Assets by Wolf Richter • Jun 22, 2020 • 82 Comments Fed leads in trimming its balance sheet; Now Bank of England governor publishes the reasoning for central banks to shed assets – before raising interest rates. A big shift!
The 53 Companies Bailed Out by the Bank of England: Johnson Controls, Carnival, PACCAR, Honda, Toyota, BASF, Bayer… by Nick Corbishley • Jun 8, 2020 • 36 Comments Foreign Companies welcome. US Tax dodgers that didn’t qualify in the US, no problem.
Automakers’ Finance Divisions Lobby BoE & UK Gov for Bailout. Auto Sales Collapse 97%, Consumers Apply for Payment Holiday by Nick Corbishley • May 31, 2020 • 44 Comments But auto sales had already dropped three years in a row — before Covid.
What Horrified Fund Managers, Banks & UK’s Pension Minister Said About the Bank of England’s Sudden “We Don’t Rule Out” Negative Interest Rates by Nick Corbishley • May 22, 2020 • 71 Comments “The stimulus the country urgently needs is not experimental and dangerous monetary policy.”
