Long-Term Dollar Prospects
July 22, 2008
The basis for U.S. Treasury Secretary Paulson’s faith in a stronger dollar over the long run rests on the assertion that no other developed economy has better long-term fundamentals than America. There’s that poorly defined word again, fundamentals, which officials and private analysts throw around too much. Fundamentals, like beauty, are in the eyes of […] More
Canada's Bipolar Economy
July 22, 2008
Officials at the Bank of Canada project Canadian GDP growth of just 1.5% in the second half of 2008, which compares to theoretical trend growth in the period of 2.8% if productive resources were to be fully utilized. They anticipate drags from net foreign demand of 1.9 percentage points in full-2008 and 1.1 ppts in […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Nikkei Rallies
July 22, 2008
The Nikkei climbed 381 points or 3.0%. Other Asian stocks were fairly flat. In Europe, the Dax and Cac40 are 0.7% lower. Ftse is off 1.4%. Scantl movement in the dollar: flat against the yen, euro and sterling, up 0.3% against the C-dollar, and off 0.1% versus Swissy, kiwi and A-dollar. The 10-year JGB yield […] More
