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More money illusion on display

Weekly investor research

08 September 2014

The ECB eased monetary policy due to fears of the effects of US monetary policy normalisation and general economic weakness at home. When this causes markets to rally they are displaying a kind of money illusion, which is likely to continue until the costs manifest themselves. Before discussing the latest easing in developed economies we offer our interpretation of Rafael Ramirez’s demise in Venezuela and review the latest changes in the Russia-Ukraine situation. We touch on the Argentine debt saga, Mexico’s manufacturing cycle, Brazil’s latest polls and Hungarian growth.

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