Archive for July 22nd, 2009

Central Bank Watch

A Fifth Interest Rate Cut For Brazil

July 22, 2009

The committee on monetary policy, also know as COPOM, cut its target Selic short-term interest rate by an as-forecast 50 basis points to 8.75%.  This was the fifth reduction this year and the smallest.  The first, third and fourth cutss on January 21, April 29 and June 10 were 100-bp moves, and the second on […] More

Central Bank Watch

Reaction to Bernanke

July 22, 2009

A drop in Treasury long-dated yields and further advance in U.S. equities suggests that Fed Chairman Bernanke managed to contain expected inflation and reassure investors and Congress that the Fed has the technical know-how to reverse its loose policy.  However, markets may also be reacting to his other message that the U.S. economy remains fragile […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Mixed Data Surprises

July 22, 2009

Sterling has weakened 0.4% against the dollar, which also gained 0.2% against the Australian dollar and 0.1% against the euro, Swissy, and kiwi. The dollar lost 0.2% against the yen and is unchanged against the Canadian dollar. Asian stocks closed mixed: Japan +0.7%, China +1.9%, Malaysia +1.2%, the Philippines and Vietnam +0.7%, Sri Lanka and […] More

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