Bonds and Stocks
November in Figures
November 30, 2009
November was a spectacular month for gold prices and saw North American and Japanese stocks follow incredibly divergent paths. Short-term interest rates remained anchored at very low interest rates, and bond yields, which had risen in October, relinquished all those increases and more. The dollar, pound and kiwi traded significantly lower against the euro, Swissy, [...] More
Central Bank Watch
Australian Interest Rate Preview
November 30, 2009
Most analysts had comfortably assumed that the Reserve Bank of Australia (RBA) will announce a third 25-basis point rate hike at 01:30 GMT on Tuesday in follow-through to similar 25-bp increases on October 6 and November 3rd. That remains the baseline consensus, but confidence in the forecast has diminished. The case for a hike rests on [...] More
Central Bank Watch
Mexican Monetary Policy on Hold
November 30, 2009
Mexican monetary authorities left their key benchmark interest steady at 4.5% after Friday’s monthly policy meeting. The result was expected. The key rate has been at its present level since a cut of 25 basis points announced on July 17th. That had been the seventh straight cut, the sum of which totaled 375 basis points [...] More
Deeper Analysis
Canadian GDP Growth and PPI Inflation Lower Than Expected
November 30, 2009
Canada’s recession ended only barely last quarter, as net exports exerted a 5.3 percentage point (ppt) drag on the annualized growth of GDP. Growth of 0.4% at a seasonally adjusted annual rate (saar) reflected positive contributions of 1.8 ppts from personal consumption, 1.9 ppts from government spending, 0.5 ppts each from residential investment and all [...] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Continuing Confusion Over Implications of Dubai Debt Crisis
November 30, 2009
$64,000 question is whether Abu Dhabi will underwrite Dubai’s debt. Stocks rebounded in Asia but fell further in Europe. Equities recovered 3.8% in China, 2.9% in Japan, 1.8% in India, 3.3% in Hong Kong, and 2.8% in Australia. The Paris Cac, German Dax and British Ftse are trading 1.1%, 1.0%, and 0.8% lower. The dollar shows a [...] More
