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Archive: September, 2013

Fed defense: circumstantial

The Fed saved the world economy during 2009, but has clearly inflated liquidity excessively in the last 2 years, and monetary policy normalization is long over-due. However, yesterday’s surprise has some logic and its critics exaggerate its importance, in our view. Here are a few reasons why. First, the question of whether this decision is read more

Martin Anidjar | September 19, 2013

Putin’s collateral damage: markets

Thanks to Russia’s surprise intervention, Syria appears to have faded as a relevant source of risk in the short term. The new initiative was good and bad for President Obama, as it did save him from a difficult fight in congress, but it also left his credibility and leadership damaged. That blow to the credibility read more

Martin Anidjar | September 13, 2013

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