Business

From Morgan Stanley's Matthew Hornbach

Unbeknownst to me at the time, I learned a valuable lesson at the start of my career that would resurface years later. Nearly 16 years ago, I began working in Tokyo as an analyst on the Japanese government bond trading desk at Morgan Stanley. It was August 2000 and the Bank of Japan raised its overnight policy rate by 25bp for the first time since initiating its zero interest rate policy, in February 1999.

Source: hln.be

We have already reported back to you several times on how desperate the European Central Bank seems to be in its attempts to get the money circulation in the Eurozone going again. Unfortunately all of its previous ‘ideas’ didn’t really work out too well, and the ECB just continues to cut its most important interest rates to discourage the banks to deposit cash at the ECB in overnight deposits.

Donald Trump continued to streamroll over all conventional narratives when during a massive 96-minute interview with the Washington Post on Thursday which was released today, in which he talked candidly about his aggressive style of campaigning and offered new details about what he would do as president, he said that economic conditions are so perilous that the country is headed for a "very massive recession" and that "it’s a terrible time right now" to invest in the stock market, which, the traditionally cheerful WaPo said embraces "a distinctly gloomy view of the economy

In recent weeks, JPMorgan has turned decidedly sour on the US equity market: one month ago, on March 3, JPM announced that "for the first time this cycle", it has gone underweight stocks.

The government in Brazil have arrested and charged one of the world’s richest bankers, Joseph Safra, for bribing officials in order to avoid paying tax.  Brazilian prosecutors say that Safra had knowledge of a 2014 plan by executives at his Banco Safra SA to bribe federal tax auditors with $4.2 million dollars. Reuters.com reports: The accusation is based on tapped phone calls between Banco Safra executive João Inácio Puga and tax officials, the statement added.