Dear friends,
Within the next 1-2 months my advisory Markets & Money Advisory will be launching a new monthly publication on Global Monetary Conditions.
The purpose of the publication will not be to predict or forecast monetary policy in different countries. Rather the purpose will be to correctly measure the monetary policy stance and as well as interpret monetary developments across 25-30 countries.
This means that we will publish a monthly Monetary Condition Indicator on each of the 25-30 countries in the report. In addition, we will publish an aggregate version of the this for Global Monetary Conditions.
Overall the indicator is calibrated so that it is zero when monetary conditions are such that the central bank should be expected to hit its inflation target in 18-24 months. The global indicator will be published both in the monthly version and in a daily/real-time version.
Overall, the publication will reflect a Market Monetarist take on global monetary conditions meaning special focus will be paid to what the markets are telling us about monetary conditions as well as on monetary aggregates as well as nominal demand/nominal GDP.
The results from the indicator are very encouraging and it shows that the indicator for the Global Monetary Conditions is highly correlated with global asset prices and commodity markets as well as with the global macroeconomic developments.
In that sense the publication will be useful for both investors and traders as well as for policy makers.
We would be very interested in feedback already now. Could this be of interest to you? What would you like to see in such report?
We plan to price a 12-month subscription at around EUR 2000 with the possibility of special deals if more than one subscription is purchased or if it is part of an overall advisory agreement with Markets & Money Advisory.
The publication will be launched when we in the near future launch the new Markets & Money Advisory website.
Feel free to share.
For comments, requests and feedback feel free to drop me a mail (LC@mamoadvisory.com)
Lars Christensen
CEO and owner, Markets & Money Advisory
PS Here is a sneak preview of the indicator to US monetary conditions.
Nathaniel Espino
/ October 1, 2016Sounds cool. Need an editor? 🙂
From: The Market Monetarist To: nejcik@yahoo.com Sent: Saturday, October 1, 2016 10:52 AM Subject: [New post] M&M Advisory to launch new publication on Global Monetary Conditions #yiv4502067982 a:hover {color:red;}#yiv4502067982 a {text-decoration:none;color:#0088cc;}#yiv4502067982 a.yiv4502067982primaryactionlink:link, #yiv4502067982 a.yiv4502067982primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv4502067982 a.yiv4502067982primaryactionlink:hover, #yiv4502067982 a.yiv4502067982primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv4502067982 WordPress.com | Lars Christensen posted: “Dear friends, Within the next 1-2 months my advisory Markets & Money Advisory will be launching a new monthly publication on Global Monetary Conditions. The purpose of the publication will not be to predict or forecast monetary policy in” | |
Peter
/ October 1, 2016If today’s policy is expected to yield below target inflation in 12 months will that give a negative data point for today or for October 2017? Is the historical data points actual outcomes? It would be nice to see historical market predictions together with actual outcomes. For example, market predicted inflation to be 1% below target in 2015, but actual inflation was 0.5% below target. Maybe one curve for actual outcomes, one for 12 month predictions, and one for 24 month predictions.
I have no interest in paying for this, so you should probably ignore my comments for business reasons. But good luck!
itsdono
/ October 1, 2016Label the y axis of your chart
Ravi
/ October 26, 2016Lars, I’m late to this. Very intrigued by this product; hope non-subscribers can get the occasional snapshot. The chart suggests monetary policy was somewhat loose from mid-2011 to late 2014. Is that consistent with your prior views? I got the impression that you thought policy was still too tight in 2011 and 2012. Please correct me if I’m wrong. Looking forward to having this tool to settle the endless debate about whether MP is loose or tight!