Lorcan Roche Kelly

On the German Election
Monday, September 23, 2013
Lorcan Roche Kelly
So much for "bailout fatigue." The German electorate vindicates Merkel's euro strategy.
On the September ECB Policy Decision
Thursday, September 5, 2013
Lorcan Roche Kelly
No rate change, no new guidance, no ideas -- Draghi lives up to low expectations.
Germany Votes
Tuesday, August 13, 2013
Lorcan Roche Kelly
Euro-skeptics wrong again. In September's election, there's no alternative for Deutschland.
On the August ECB Policy Decision
Thursday, August 1, 2013
Lorcan Roche Kelly
What a difference a year makes. The ECB has earned the luxury of being boring.
ECB's Operation Twist-and-Nudge
Friday, July 19, 2013
Lorcan Roche Kelly
New collateral rules push ABS onto the balance sheet instead of sovereigns.
SpanDax
Friday, July 12, 2013
Lorcan Roche Kelly
Spanish bonds and German stocks are best for a summer of euro area muddle-through.
On the July ECB and BOE Policy Decisions
Thursday, July 4, 2013
Lorcan Roche Kelly
The BOE provides forward forward guidance, and the ECB provides no guidance guidance.
On the EU Bank Resolution Agreement
Thursday, June 27, 2013
Lorcan Roche Kelly
EU ministers reach agreement on bank resolution. And yes, Cyprus was a template.
Bundesblock
Wednesday, June 19, 2013
Lorcan Roche Kelly
Until the German elections, Bundesbank political leverage keeps euro area growth on hold.
On the June ECB Policy Decision
Thursday, June 6, 2013
Lorcan Roche Kelly
Draghi risks recovery, and his reputation, by not actually doing "whatever it takes."

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