Australian Central Bank Preview
April 6, 2009
The Reserve Bank paused at its March policy meeting but is likely to cut rates Tuesday by 25-50 basis points. The central bank’s cash rate target had been cut at each of the five successive meetings from 7.25% at end-August to a 45-year low of 3.25% at the February 3rd meeting. Three of the cuts […] More
Bonds and Stocks
Revered Financial Analysts
April 6, 2009
Herd behavior is intrinsic to financial market behavior, and every herd needs trustworthy shepherds. The top analyst reputations tend to be built from contrarian forecasts that come true. So while investors find comfort in following the crowd, the savvy analyst looks for opportunities when the crowd seems mistaken. The analyst must choose the right moment. […] More
Central Bank Watch
National Bank of Serbia Surprises With Timing of Second Rate Cut
April 6, 2009
Serbia’s two-week repo rate was slashed 150 basis points to 15.0%. This second reduction following a 125-bp cut on January 22nd had not been expected now, and it brings the rate back to its lowest level since 14.5% during the single week to April 24, 2008. Officials released a statement that cited falling demand, lower […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Stocks Higher, Yen Lower
April 6, 2009
The dollar gained another 1.0% against the yen, solidifying its beachhead above the 100 level. North Korean tensions are a fresh issue. The dollar otherwise lost 1.3% relative to the New Zealand dollar while easing 0.3% against sterling and the Australian dollar and 0.2% against the euro, Swissy, and Canadian dollar. Stocks closed up 1.2% […] More
