Wishful thinking, the eurozone, and François Hollande

Wishing won't make it so


Alan Greenspan was nominated as chairman of the Federal Reserve Board six months after I left his employ. As word circulated at my new employer, an animated trader came up to me and asked, “Does he know that from now on if he stirs his coffee clockwise it means one thing and if he does it counter-clockwise it means something else?”.

The consequence of this unremitting scrutiny is that public officials are unlikely to be completely candid when they are asked awkward questions. Some degree of

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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