13日の金曜日に欧州金融政策の不安を考える

待ちに待った金曜日!しかもただの金曜日ではなく、今日は噂の13日の金曜日です。

いくつかの文化圏ではこれは非常に不吉な日として(黒猫とのコンボで更に不吉度が増します)恐れられていますが、ユダヤ教のなかでは13というのは実に縁起の良い日にちとしてしられています。
さらに毎週金曜日はShabbatというユダヤ教のサンクスギビングデーとも言われており、家族とともに食卓を囲んでお腹いっぱいご飯を食べるのです。

そんな13日の金曜日の今日は私の可愛い甥っ子の誕生日でもあるので、この2月13日はとてつもなく豪華な夜が待っていると期待しています。
もし13日の金曜日を見直しそこねたなーと感じた方は、来月3月13日の金曜日をお待ちください。

それはともかく、FXダンスフロアを見てみるとユーロは13日の金曜日マジックに困惑しているようです。
ユーロ圏のフラッシュGDPは想定値より好調であったもののドイツのホールセール価格指標は-0.4で先月の-0.1より悪化しました。

昨日EUからサプライズが2つ届きました。
1つはスウェーデンから。スウェーデンはベンチマーク金利を-0.1%とマイナスの範囲まで切り下げました。
各国の中央銀行が基本レートはゼロ以上にとどめ、唯一預金ファシリティ(ECBにおける翌日物預金金利)をマイナスに設定したのを尻目に、スウェーデン国立銀行(Riksbank)はレポレート(レポ取引レート)を世界で最初にマイナスに切り下げたことになります。
金利カットの前に約10億ユーロ相当の資産購入権限を銀行に与え、形ばかりではありますが、追加刺激策をある程度狙ったものと言えるでしょう。

2番目のサプライズは英国中央銀行(BOE)からです。
インフレ率が近い将来ゼロを下回りかねないということを認めたわけではありませんが、BOEはイギリス経済へのデフレ脅威があまりに高まった場合は更なる金利カットを喜んで行うとコメントしました。
興味深いことにBOEのカーニー総裁は消費を促すデフレはイギリス経済にとっては良いものではないかとも提案しています。
総裁は通常消費者が将来の低価格を期待して様々な購入を遅らせるという形で現れる低インフレ率の悪影響は未だ見られないとしています。

このようなやり方で中央銀行がデフレに対応するということは、伝統的金融政策が尽き、非伝統的な金融政策が「危機ではない」経済状態にも関わらずスタンダードになりつつあるのではないかという不安を残すサインと言えます。

Bitcoin Drops Entering 2026: Is It Still Worth Investing? The Answer Most Investors Miss

Bitcoin has entered 2026 under pressure, with prices pulling back after a volatile period that left many investors questioning whether the opportunity has passed. Headlines are once again split between fear and optimism, with some calling the recent drop a warning sign and others viewing it as a healthy reset.

Unlike speculative assets that rely on constant growth stories, Bitcoin’s relevance continues to rest on its role as a scarce, decentralised digital asset that operates outside traditional financial systems. The key question for investors now is not whether Bitcoin will remain volatile – but whether this moment represents risk, opportunity, or something most investors misunderstand.

Read More »

3 Bullish And 3 Risky Forces Shaping American Express Stock (AXP) Into 2026

American Express is often viewed as a mature, well understood credit card company, but its role in the financial system is broader than many investors realize.

It sits at the center of consumer spending, business payments, travel, credit risk, and data driven decision making. As these areas evolve, the dynamics shaping American Express stock are becoming more complex and, in some cases, less obvious.

Premium consumer behavior, business spending patterns, regulatory scrutiny, and technological change are all influencing how payment companies operate and compete.

Read More »

Micron Stock Surges After Blowout Earnings: Is MU Still A Buy In 2026?

Micron Technology (NASDAQ: MU) has quietly become one of the most important companies supporting the AI boom – even if it doesn’t receive the same attention as Nvidia or other high-profile AI names.

While much of the focus is on GPUs and AI software, Micron operates behind the scenes, supplying the memory that allows AI systems, data centres, and cloud platforms to function at scale.

Following a strong earnings update, Micron’s stock surged and quickly returned to the centre of market attention. The rally reflects growing confidence that the company’s strategic shift away from lower margin consumer products toward higher-value enterprise and data-centre memory is gaining traction.

Read More »

Why Big Tech Is Quietly Buying Western Digital (WDC) Stock

Western Digital Corporation (WDC) has been on a tear, its stock price soaring over 270% year-to-date as of early December 2025.

This massive growth isn’t just hype; it’s fueled by a perfect storm of events, including the strategic spin-off of its flash business, SanDisk, and an insatiable global demand for data storage driven by the AI revolution.

As a now “pure-play” Hard Disk Drive (HDD) manufacturer, WDC is uniquely positioned as the landlord for the internet’s exploding data. But with such a meteoric rise, is there still room for growth, or is the stock overheated?

Read More »

Marvell (MRVL) Stock: The Hidden AI Powerhouse Wall Street Keeps Underestimating

Marvell Technology (NASDAQ: MRVL) is quickly becoming one of the most important companies in the AI infrastructure space – even though many investors still aren’t sure what the business actually does.

While most headlines focus on Nvidia and its GPUs, Marvell builds the networking, optical, and custom silicon chips that help AI models move data faster and run more efficiently. In its latest earnings report, Marvell posted strong double-digit growth in its data center business and shared bold guidance for the next few years, sending MRVL stock higher.

Read More »

2 Months Ago Oracle Stock (ORCL) Was Flying And Now… The Mood Has Flipped. Is A Comeback Still On The Table?

Oracle is one of the biggest names in enterprise software and cloud services. They power databases used by governments, banks, hospitals, airlines, and global corporations. For years they were known for steady tech growth, not big surprises.

Then something wild happened.

Only two months ago Oracle stock was flying. Analysts cheered. AI deals stacked up. The company felt like it had finally stepped into a new era.

Now the mood has flipped.

Read More »