Daily Archives: February 21, 2013

The pound fell after it emerged that governor Sir Mervyn King voted for more quantitative easing a fortnight ago. James Mackintosh, investment editor, explains how investors are viewing the prospect of further easing and a weaker pound, after the FTSE 100 rose above 5,400 for the first time in five years.

James Mackintosh

Blame the collapse of the USSR: an entire generation of Americans who might once have specialised in Kremlinology now devotes its time to parsing the messages that filter out of the US Federal Reserve.

Minutes of the last Fed meeting released yesterday hammered markets. As usual, when the US sneezed (the S&P 500 down 1.2 per cent) Europe caught a cold (the Stoxx 50 index is off 2.1 per cent as I write and poor old Italy is off almost 3 per cent). Read more

Germany’s ZEW survey was credited for a good day in the markets after showing investors were more positive about the economy than expected. James Mackintosh, investment editor, wonders about the circularity of the argument, and examines if the ZEW is a reliable indicator.