Jim Grant has difficulty “making heads or tails” of Mario Draghi, his choice of arcane inflation measures or his panic that inflation is too low. In the recent Grant’s Observer, Draghi’s selection of the “five-year, five year euro inflation swap rate” as a “clear” measure of future inflation is confusing. “Curious minds will ask how any mortal being, swaps trader or not, can accurately divine distant events,” Grant said, questioning the basis upon which Draghi is making decisions. Jim Grant notes problems with Draghi’s comments on inflation Draghi was concerned that inflation has been on a downward path from near…
Jim Grant Has "Difficulty" With Mario Draghi
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.