Uncertainty on financial markets: the role of central banks
10.02.2016 - Philippe Waechter
Stock markets are trending downward very rapidly everywhere in the world.
In France the CAC40 has lost 13.8% of its value since the beginning of the year. At the same time, interest rates converge to 0% or below. In Tokyo, the 10 year government bond yield is now below 0%. According to the FT yesterday, the volume of government bonds that is traded below 0% has now reached USD 6tn close to one third of the market.
How can we understand this phenomena?
Philippe Waechter is Head of the economic research department of Natixis Asset Management.
Philippe joined Bred Banque Populaire in April 1988 as an economist. In 1994 he became Director of the economic research department. When Banque Populaire Asset Management was created in June 1998 (which then became Natexis Asset Management in May 2003) Philippe held the same position.
Philippe is graduated from the University of Paris I and worked as a Professor at the University of Evry from 2002 to 2003. He regularly works for the print and audiovisual media.
Philippe Waechter . 4h ago
RT @pdegrauwe: T.May: "to restore our parliamentary democracy, national self-determination, and to become more global". Impossible trilemma…
Philippe Waechter . 9h ago
Du sang et des larmes pour créer le Global Britain de Theresa May https://t.co/oVRVHJwKnG