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Warren Buffett speaking to a group of students from the Kansas University School of Business (Photo credit: Wikipedia)
- Over the weekend, rising politician Beppe Grillo, leader of Italy’s anti-establishment Five-Star Movement, told German newspaper Bild that he supports an online, non-binding referendum on euro membership in Italy. Nearly half of Italians think they would be better off without the euro.
- During incoming Bank of Japan chief Haruhiko Kuroda’s confirmation hearing last night, Kuroda said he would do “whatever it takes” to end deflation. Using this phrase, Kuroda borrowed from ECB President Mario Draghi‘s playbook. Draghi famously said these words in July 2012, reversing the course of upward-spiraling government borrowing costs in the euro area. However, the Japanese yen did not continue its downward trajectory against the U.S. dollar on the news.
- Federal Reserve Chairman Ben Bernanke gave a speech on long-term interest rates on Friday night at 10 PM ET. In the speech, Bernanke sought gave an explanation of why interest rates are so low and sought to re-assure that the Fed is not looking to tighten monetary conditions any time soon.
- In an interview with CNBC this morning, Warren Buffett said he was buying stocks now, but not because he thought they would keep going up. Instead, he said he was buying them because they were a good value. The comments follow the release of Buffett’s annual shareholder letter after the closing bell on Friday.
- Sentix euro zone investor confidence tumbled to -10.6 from -3.6 in January. Economists were only predicting a much smaller drop to -4.3. According to Sentix (via the Guardian), “The reason for this setback is obvious: it is the outcome of the election in Italy which has caused uncertainty over the country’s future development to skyrocket….This has had a negative impact on the whole euro zone.”
Related articles
- RT: ‘Italy may abandon euro if debt not renegotiated’ – politics kingmaker Grillo (aworldchaos.wordpress.com)
- So, how’s that Euro going? (forexlive.com)
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Clik here to view.
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