Placeholder Image

Subtitles section Play video

  • Super Mario authority showed up to one conference this week.

  • So perhaps it's too much to expect in a second.

  • The Nintendo original stole the show at Apple's new product launch.

  • So instead it was playing all Mario Draghi who turned out to brief markets

  • on the European Central Bank's latest monetary policy thinking.

  • There was no sign of the Super Mario who was torn by charge bond markets,

  • with ever more exotic varieties of quantitative easing and negative interest rates.

  • It's not just European investors who hang on every word in Mr. Draghi's press conferences,

  • plenty around the world came away disappointed when the ECB president punted on whether QE

  • will be extended beyond next March or widened, to include a broader range of potential bond purchases.

  • US fixed-income markets are now acutely sensitive, to pronounce mounds agreements from the ECB,

  • and from the Bank of Japan too.

  • Investors are playing in an ever shallower pool of bonds of decent yields,

  • and so they are looking all round the world for income.

  • After Mr. Draghi's non-announcement, that the end of the European trading day the yield on the ten-year treasury,

  • was up by the same amount 5 places points as the yield on the German Bund.

  • Meanwhile, as Japan's government bound yields of reserve of the past couple of months,

  • so the point third of the ten year is only three bases point of negative now.

  • Japanese investors of sold US treasuries had turned to long dated local issues.

  • The government sold a new thirtieth bond this week to surprisingly strong local demand.

  • So the threat of waning international demand has kept US yields out,

  • even as the odds of the September rating increased by the federal reserve have lengthened.

  • US treasury balls rebidding on yields going back lower.

  • Faced couple of hurdles,

  • will the bank of Japan at its meeting later this month exhibit cold feet on negative interest rates, for example.

  • And has Mr. Draghi really only delayed the announcement to more bond buying as the market currently thinks,

  • or might the ECB switch policy, perhaps adding equities

  • Anything that further raises yields in Europe or Japan threatens to do the same in the US.

  • It's not just iPhone users will be happy to see Super Mario back on their screens.

Super Mario authority showed up to one conference this week.

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

A2 FinancialTimes mario super mario bond negative interest ten year

Not so super Mario | Short View

  • 534 11
    Hsin posted on 2016/09/12
Video vocabulary