Epstein Secrets

(HKSFCJ; Meml Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry RegulatoryOrganization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico SA de CV, Casa de Bolsa, regula

ow appreciate freely if Eurozone data keeps improving. BoJ only dovish major central bank The BoJ left its policy unchanged this week and Governor Kuroda justified the current policy framework amid sluggish price developments. With little expected from the BoJ prior to the meeting, it was a non-event

if Draghi succeeds, the Euro could strengthen in the meantime. In contrast, the Bo)’s new framework should address the sustainability challenges that Kuroda faced this year, and allows more fiscal stimulus by keeping the government’s borrowing costs at zero. The ECB cannot do this, in our view. We have be

0yr JGB. However, the Bo) appears to be concerned about the deterioration of financial institution earnings caused by flattening of the yield curve. Kuroda said that even if superlong-term yields rose slightly, he did not believe they would have to be lowered. He went on to say he was also giving conside

ecurities and Futures Commission (HKSFC); Merrill Lynch (Singapore): Merrill Lynch (Singapore) Pte Ltd, regu Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regul

ymakers that premature fiscal tightening is counter-productive for reflation efforts, especially when monetary policy is stretched. Even Bo) Governor Kuroda, who initially underplayed the risks from 2014 fiscal tightening, has recently acknowledged that loose monetary and fiscal policies will have a “syne

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