Observation Deck: What Does ‘Extended Period’ Really Mean?
Observation Deck
March 09, 2010 Ninh Chung
The Federal Reserve decided on January 27 to keep interest rates at historically low levels despite pronouncing a continued pickup in economic activity and a deceleration of job losses. Faced with a double digit unemployment rate, tight credit conditions, and Read More
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Sovereign Risk: Is the Global Economy Facing Fiscal Austerity or Fiscal Crisis?
Advisories
March 09, 2010 Melina Hadiwono
2010 may prove to be a turbulent year for sovereign debt given the uncertainties surrounding the pace and intensity of fiscal and monetary exit strategies. The next two years will be a critical test for heavily indebted countries to start implementing a credible plan. If the market loses confidence in this plan, we expect further challenges to the recovery and new challenges to political and social cohesion. Read More
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Interview: SVB Continues Exchanges With Shanghai's Yangpu District
Venture Capital
March 09, 2010 Jason Liou
In January 2010, four representatives from the Yangpu District Government of Shanghai arrived in the Bay Area for a three-month educational program at San Francisco State University. While in the Bay Area, they also attended programs with SVB Financial Group. The visit follows Silicon Valley Bank’s addition of a repre Read More
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Brits on Ice or Return of the Cod Wars?
Jim Anderson's Postcard from the Telecosm
March 08, 2010 Jim Anderson, CFA
In a stunning turn of events, the citizens of Iceland voted more than 93 percent against a referendum that would required them to repay the British and Dutch governments for money they fronted to bail out depositors of Icesave, the Read More
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Is There a Price To Pay For Fiscal Irresponsibility?
FX Outlook
March 08, 2010 Dave Bhagat
"Acquaintance A person whom we know well enough to borrow from, but not well enough to lend to." Ambrose Bierce, U.S. author and satirist (1842 – 1914), The Devil's Dictionary We must all be acquaintances of our respective governments, for Read More
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Point / Counterpoint: When and How Fast Should the Fed Boost Interest Rates, and Why?
Economic Outlook
March 02, 2010 Joe Morgan
The Fed should begin raising interest rates in earnest in early 2011, once consumers have some vision of and confidence in both their wealth and job prospects. At that point, the Fed should aggressively raise rates more than one 75 basis point hike. See Joe Morgan's and Jim Anderson's Point / Counterpoint Read More
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Point / Counterpoint: When and How Fast Should the Fed Boost Interest Rates, and Why?
Jim Anderson's Postcard from the Telecosm
March 02, 2010 Jim Anderson, CFA
When the crisis hit, the Fed pulled every lever on their control panel to prevent a complete meltdown. Picture Homer Simpson in full panic at the controls of his nuclear power plant pulling every lever, pushing all the buttons and turning each dial as the sirens sound and red lights flash that the core is going critical. Like Simpson, Bernanke's Fed pulled a lot of levers that had never been touched before and some that many of us never knew existed. Now that the crisis has been averted, how can we tell which actions were important and which were extraneous or even misguided? See Jim Anderson and Joe Morgan's Point / Counterpoint Read More
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Call it Optimism
FX Outlook
March 02, 2010 Joe O'Leary
Over the past couple of months, sovereign risk has dominated the headlines in the foreign exchange markets. Financially strapped countries like Greece have put the euro on its longest losing streak against the dollar since November 2008. Debt investors have also grown concerned about budget deficits in other euro-region countries such as Spain and Ireland. The USD is has risen nearly 10 percent from its lows against the EUR from just two months ago. From my perspective, the entire episode confirms the dollar's status is still the world's only reserve currency. However, not all currencies are being punished. Read More
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