Description
Palgrave How the Fed Moves Markets Central Bank Analysis for the Modern Era by Evan A. Schnidman, William D. MacMillan
Central banks have a profound impact on financial markets, and investors struggle to keep informed about their complex policy decisions. Technological and financial developments have transformed the US Federal Reserve Bank from a financial black box into a vocal, increasingly transparent institution-and the result is such a wealth of textual data that clues to future policy decisions may be lost among the details._x000D__x000D_This book presents a solution to this problem by keeping track of those details. Schnidman and MacMillan demonstrate how the latest advances in automated text analysis, combined with the precision of domain expertise, are the keys to understanding how central banks move markets with their words. The authors outline a method to not only examine every piece of every central bank communication, but to do it in a way that is completely comprehensive and unbiased while quickly yielding hard, quantitative data that can be put to work in modern financial models._x000D_ Table of contents :- _x000D_
PART I: EMERGENCE AND EVOLUTION: THE STORY OF THE FED_x000D_
1. Origins: From Chaos to Structure_x000D_
2. Independence: Wars, Depression, and Politics_x000D_
3. Centralization: The Rise of Technology_x000D_
4. Transparency: Data Meets Democracy_x000D_
PART II: FED WATCHING: SENTIMENT ANALYSIS AND DATA DRIVEN INVESTING_x000D_
5. The Briefcase Watch: Fed watching at its Finest?_x000D_
6. Data Driven Watching: Comprehensive, Unbiased, and Quantitative _x000D_
7. Fixed Income Investing: Fed Sentiment Drives Bonds_x000D_
8. Equity Market Investing: Macro Matters_x000D_
9. Forecasting Policy: Market Response to Fed Communications Trends_x000D_
10. Forex Investing: Central Bank Sentiment Data across the Globe_x000D_
PART III: GLOBAL MONETARY POLICY: ANALYZING CENTRAL BANKS AROUND THE WORLD_x000D_
11. ECB Sentiment: Decoding a Complex Monetary Union_x000D_
12. BOE Sentiment: The Origin of Modern Central Bank Communications _x000D_
13. BOJ Sentiment: Monetary Clues in Lost Decades_x000D_
14. RBA Sentiment: Australia as a Proxy for China _x000D_
15. Global Sentiment: International Central Bank Transparency_x000D_