Archive for November 30th, 2010

Deeper Analysis

November in Figures

November 30, 2010

The second round of Fed quantitative easing was meant to depress long-term interest rates.  Many perceived a hidden agenda to weaken the dollar.  Neither trend played out in November unless one considers the fact that ten-year Treasury yields rose less than comparable rates in Japan and Canada as a moral victory.  Meanwhile, short-term rates barely […] More

Larry's Blog

Brief Look Back at November

November 30, 2010

In November, the fear of a new U.S. recession receded, helped by upbeat retail sales and labor market data.  In contrast, the euro area was subjected to intensifying centrifugal forces amid contrasting rates of economic growth among members, widening bond yield spreads, disappointing hard data for orders, GDP and retail sales but upbeat sentiment and […] More

Deeper Analysis

Canadian GDP Weaker Than Forecast

November 30, 2010

Real GDP expanded 1.0% at an annualized rate last quarter.  In the Bank of Canada’s Monetary Policy Report published last month, officials had projected growth of 1.6%.  Growth in Canada was less than half as fast as the 2.3% pace in the second quarter and less than a fifth as strong as the 5.2% annualized […] More

New Overnight Developments Abroad - Daily Update

More Downward Pressure on the Euro on a Day With Lots of Data

November 30, 2010

EUR/USD dipped briefly under $1.3000 for the first time since September 16 and shows a net additional overnight loss of 0.6%.  In contrast to its gain against the euro, the dollar fell 0.5% versus the yen.  Otherwise, the dollar shows gains of 0.2% against sterling and 0.1% relative to the Canadian and Australian dollars but […] More

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