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Jun 4, 2014
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Central banks abet the complacency they fret about

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

It is commonplace for central bankers to protest against violent price swings, but these days they are concerned that markets are too placid. New York Fed President William Dudley, European Central Bank Governing Council member Ignazio Visco, and Bank of England Deputy Governor Charlie Bean have all recently expressed disquiet about very low volatility. They are right to worry, but in casting blame, policymakers need to look in the mirror.

May 14, 2014
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QE forces investors to applaud M&A

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Equity investors used to punish the shares of companies that launched bids. Their eagerness to see firms spend cash means they are now more likely to applaud such moves. Quantitative easing and low returns explain how it started. A worrying deterioration in credit quality could be how it ends.

May 9, 2014
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ECB abets risky passion for peripheral debt

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

The rally in peripheral euro zone debt seems unstoppable. Thank – or blame – the European Central Bank. Its talk about easing monetary policy, maybe as soon as June, is pushing bond yields to record lows in countries that faced borrowing costs of up to 17 percent a few years ago.

Apr 10, 2014
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Greek bond fever may do economy few favours

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Greece’s first bond in four years has met roaring demand. The 3 billion euro deal suggests past bondholder losses and present economic woes are forgiven and forgotten. But the country still has big problems. Excessive investor enthusiasm could reduce the pressure to reform.

Apr 10, 2014
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Greek bond fever may do economy few favours

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Greece’s first bond in four years has met roaring demand. The 3 billion euro deal suggests past bondholder losses and present economic woes are forgiven and forgotten. But the country still has big problems. Excessive investor enthusiasm could reduce the pressure to reform.

Mar 31, 2014
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Companies risk changing euro view at wrong time

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

A rising single currency has confounded and hurt European exporters. An increasing number are becoming euro bulls, but their conversion could be ill-timed. While the currency’s rally may not be over, the ECB seems too unhappy with euro strength for it to last past autumn.

Mar 31, 2014
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Companies risk changing euro view at wrong time

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

A rising single currency has confounded and hurt European exporters. An increasing number are becoming euro bulls, but their conversion could be ill-timed. While the currency’s rally may not be over, the ECB seems too unhappy with euro strength for it to last past autumn.

Mar 13, 2014
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ECB needs cunning plan to join currency wars

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

The euro is at two-and-a-half-year highs. Its strength risks driving ultra-low inflation even lower. The European Central Bank may be squeamish about blatantly targeting a weaker euro. But it need have no qualms about picking monetary policy tools that maximise damage to the single currency.

Mar 11, 2014
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Scandal will reshape FX trading dynamics

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Around the world, investigators are trying to find out if the largely unregulated foreign exchange market was manipulated. Even before the probes are completed, the pace of change will pick up in the $5 trillion-a-day market, in both what moves currencies and the way business is done.

Mar 11, 2014
via Breakingviews

Scandal will reshape FX trading dynamics

Photo

By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Around the world, investigators are trying to find out if the largely unregulated foreign exchange market was manipulated. Even before the probes are completed, the pace of change will pick up in the $5 trillion-a-day market, in both what moves currencies and the way business is done.

    • About Swaha

      "Swaha is a columnist for Reuters Breakingviews. She has been covering financial markets and policymaking for 22 years, reporting on key economic and monetary milestones and breaking market-moving news. She was responsible for regional FX, bonds and stock market teams as Reuters EMEA Markets editor between 2008 and 2013. She was Senior Economics Correspondent in France between 2005 and 2008, European Economics and Monetary Affairs Correspondent in Brussels between 2001 and 2005 and headed up the Reuters FX reporting desk in London between 1998 and 2001. Swaha previously worked at Bloomberg, Euromoney and IDEA."
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