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The Limits of Economic Experimentation

Apr 19 2016
Pacifica Partners Spring 2016 Quarterly Commentary: This quarter’s newsletter gets its title from the growing global trend towards the acceptance of negative interest rates as a component of mainstream economic policy.  Negative interest rate policy (NIRP) is increasingly being seen as an act of economic desperation by the markets. Currently, the central banks of Europe,…

Taking an Inventory of Investor Worries

Jan 06 2016
The Pacifica Partners Winter 2016 Quarterly Commentary: Most years, financial markets tend to rally in the month of December. As the 2015 holiday season wound down, investors found that Santa had deprived them of their traditional yearend rally. Instead of a rally, investors were left showered with volatility to close off 2015 and clinging to…

Mr. Xi Goes to Washington

Sep 30 2015
One would have to go back a long way to remember when China’s place in the world was even up for debate. As Chinese President Xi Jinping came to the US for his first state visit last week and second visit as President of China, many are looking at China through a slightly different lens…

An Embarrassment of Riches

Jun 06 2014
One of the few things Wall Street, Main Street and politicians of all stripes can agree on is that the economic recovery since the last recession has been slower than expected. If we listen closely to the speeches of various policy makers, there is an undertone of frustration in their voices. An Embarrassment of Riches…

The Challenges of Oversupply

Nov 07 2013
This edition of our newsletter takes a look at a topic that we think deserves more attention from investors and policy makers. Since the end of the last reces- sion, there has been much debate around the topic of why the global economy has not been more responsive to the more than 500 interest rate…

Investors have a Taper Tantrum

Aug 06 2013
The financial industry rarely has a challenge when coming up with clever headlines to describe the markets. Our newsletter gets its title from recent investor reaction to the mere hint that the US Feder-   al Reserve (the ‘Fed’) may reduce or ‘taper’ its monthly $85 billion bond purchase program. Since bond prices and interest…
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