Pegasus Capital

Blog With Tag russia

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A View from the Bridge - September 2014

In the end the answer is still NO. That’s not in relation to Scotland voting to remain as a part of the UK but the ECB’s decision not to opt for full-blown QE. Instead, the ECB cut rates to a record low of 0.05%, launched the first round of its new €400bn of long term refinancing operation (LTRO) to boost bank lending and is pushing for “junk” rated asset backed securities (ABS) to be accepted as eligible collateral. The actual take up of the new LTRO facility was only €82.6bn, and with Eurozone growth in Q2 grinding to a halt at 0%, business confidence, particularly in Germany, falling on fears of the impact of Russian sanctions and consumer price inflation dropping to a 5 year low of 0.3%, sooner rather than later there could be a Yes vote for QE!

PegasusCapital - Wed 1st Oct

A View from the Bridge - August 2014

The EU leadership have to act quickly on 2 key issues in the coming month as Kiev warns it is on the brink of full-scale war with Moscow. Having banned imports of US and EU goods in an escalation of the “sanctions war”, Russia has been given a week by the EU to reverse course on Ukraine or face a new round of sanctions. The ECB President Mario Draghi has already warned that the Eurozone is at economic risk as Russia ramps up the trade war and with German investor confidence diving and European stock markets taking fright, the Euro has slid to an 11 month low and the key Eonia benchmark interbank rate has dropped to its lowest in the history of the Eurozone.

PegasusCapital - Mon 1st Sep

A View from the Bridge - February 2014

They think it’s all over……….With UK growth forecasts being revised upwards by the IMF, house building and house prices rising the most in a decade, exports at a record high in 2013, unemployment down to 7.1% and inflation falling below the BoE target of 2% you would have thought so!

PegasusCapital - Sat 1st Mar

A View from the Bridge - Sep 2017

UK GDP increased by 0.3% quarter-on-quarter in Q2, matching the second quarter estimate and the consensus however, the y-o-y growth rate was revised down to 1.5%, from 1.7%. In addition, the latest PMI survey showed a modest deceleration in the rates of expansion in UK manufacturing production and new orders. Exports remain a bright spot and are still rising at one of the strongest rates over the past six-and-a-half years however, manufacturing is also increasingly being impacted by rising cost inflationary pressures due to rising commodity prices and higher import costs from the historically weak sterling exchange rate.
Tags: UK GDP, ECB, FOMC

PegasusCapital - Wed 4th Oct