Larry's Blog
Next Week
November 21, 2008
Households will be in the spotlight of U.S. data during the week of Thanksgiving. House price indices from OFHEO and Case-Shiller, as well as existing and new home sales, will provide a reality check on the housing sector. Measures of consumer sentiment arrive from both the Conference Board and University of Michigan. Personal income and […] More
New Overnight Developments Abroad - Daily Update
Weekly Foreign Exchange Insights: November 21st
November 21, 2008
With one notable exception, this past week in foreign exchange was pretty much a carbon copy of the prior week. The yen continued its advance against just about all other currencies including the dollar. The U.S. currency posted sharp further gains against many emerging market currencies and commodity-sensitive currencies. Chinese officials kept the yuan steady […] More
Canadian Consumer Price Inflation Fell to 2.6% in October from 3.4% in September
November 21, 2008
On-year CPI inflation of 3.4% in both September and 3Q08 gave way to a 2.6% in October, as the seasonally adjusted index fell 0.5% and the unadjusted index tumbled by 1.0% in month-on-month terms. In the three months between July and October, the so-called headline (all items) CPI slid 1.4% at a seasonally adjusted annual […] More
Central Bank Watch
Bank of Japan Resists Cutting Rates
November 21, 2008
As expected, the Bank of Japan did not reduce its 0.3% rate target for overnight money, but a released statement painted a bleak picture with recession persisting for some time. Officials moreover identified downside price and growth risks associated with the pessimistic baseline forecast. The assessment of exports was downgraded, for instance, to “decreasing” from […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Counter-Trend Day in Markets
November 21, 2008
Stocks rose from multiyear lows in Europe and Asia. The yen and dollar are softer. Sovereign bond yields climbed in North America and Europe. Oil is firmer. The Nikkei advanced 2.7%. Stocks rose 2.9% in Hong Kong, 1.9% in Australia, 5.8% in South Korea, 5.5% in India, 3.0% in Singapore, 0.9% in Britain and 0.6% […] More
