Mohamed A. El-Erian

Mohamed A. El-Erian


Chief Economic Adviser, Allianz. Author of NYT bestsellers "When Markets Collide" and “The Only Game in Town.”

220571 followers  •  849 follow  •    •   https://t.co/VyDNpr6LI5

The @FT  on the latest industrial production numbers for the #Eurozone  which are better than consensus expectations Of particular note: the significant continued divergence between the tradeable and non-tradeable sectors, including the lack of negative contagion from manufacturing

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From the latest @nberpubs  Digest (always worth a read) on the working paper on the secular stagnation hypothesis Shows how a measure of an average OECD neutral interest rate has evolved relative to GDP growth, and points to possible policy implications —past, present and future.

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The link to Fed chair Jerome Powell’s opening remarks to the Joint Economic Committee of the U.S. Congress — the first of two days of testimony. The content of the written remarks are as expected. eralreserve #economy  #markets  #fed  #federalreserve  #centralbanks 

Love simple charts that suggest several competing and complementary hypotheses. Here’s an example from an article on #Mexico  in @TheEconomist . GDP #growth  has almost always picked up during the 2nd year of a new President’s administration. I can think of at least 4 reasons why!

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From this to this ... and, with that, a 50 degree drop in daytime temperatures! #southerncalifornia  #michigan 

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Good morning. US #markets  will open to mixed/disappointing data on the global #economy : With growth coming in at 0.1%, #Germany  just missed registering a technical recession; and #China 's #retail  sales, factory #output  and #investment  all fell short of consensus expectations.

FYI, and as 2020 approaches, my thoughts via the @FT  on some of the key analytical issues facing the design and implementation of longer-term #investment  approaches ... and the implications. #markets  #economy  #investing  #investors  #trade  #currency  @WSJ 

@WSJ  on #growth  divergence in the global #economy  While the general hypothesis is correct, the exact focus is different for me given continued concern about Europe Specifically, the big divergence for me is between the US and most other advanced countries

A clip from the interview on #Australia 's #ABC  with @ElysseMorgan  on the prospects for #CentralBanks ' policies, policy alternatives, #inequality , the global #economy , and the 60/40 "T junction" ahead. @abcnews  #TheBusiness  #markets  #growth 

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... and the perfect Sunday morning shirt after yesterday’s Champions league final in #Madrid . @ChampionsLeague  @UEFA  @22mosala @LFC #egypt 

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Here's with the latest on the cr #Cataloniasis , including reactions to measures announced by PM #Spain  #Rajoy 

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A huge thank you to all who have worked so hard, and are working so hard to make #EEDC  such a great success. Superb job. #EEDC2015 

Peaceful in #LagunaBeach  as police separates small group of outside protestors from bigger counter protest--in no's,ideas,tolerance & impact

This sharp fall in yields on US government #bonds  —the 10 year is now #trading  at 2.62% in reaction to #Apple ’s signals about weaker global growth—is truly remarkable ... and especially given that the #Fed  has been reducing its balance sheet and the tapering its . #QE  #china 

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With today's move, the entire yield curve for government #bonds  in #Germany  closed at negative levels. This will take the stock of negative-yielding bonds worldwide to some $15 trillion. Given what has occurred since #European  #markets  closed, look for both to get worse tomorrow.

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I just couldn't resist taking a photo of this for my file on the unlikely/unthinkable becoming reality! It's so unusual to see 2- and 10-year government bonds trading at exactly the same yield. @CNBC  #markets  #economy  #bonds  #yields  #yieldcurve 

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Bloomberg re move to safe assets: Over the past six months,money market funds attracted $322 billion of inflows,the largest flight to safe assets since the second half of 2008. In similar fashion to 2007 and 2008,investors raised their cash holdings despite falling interest rates

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As tweeted yesterday, even some high yield ("junk") #bonds  now trade at negative yields--ie, creditors PAY for the privilege of financing companies with notable default risk. These bonds are part of a stock of negative-yielding securities worldwide that now exceeds $13 trillion.

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@WSJ  chart illustrating why the official estimate for #China 's Q-3 #GDP  #growth  -- 6% annual growth--is attracting so much attention: Already the lowest official reading in nearly three decades (that is, including the global financial crisis), it's likely to get weaker. #economy 

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