Deeper Analysis
U.S. and Canadian Trade Figures
March 10, 2011
The U.S. and Canadian trade balances, which oftentimes move in opposite directions on a month to month basis, each worsened in January. Each country experience very strong import expansion. The U.S. goods and services deficit of USD 46.341 billion was the largest since last June, 15.1% wider than December’s imbalance and 33.8% greater than the […] More
Central Bank Watch
Bank of England Holds Its Fire
March 10, 2011
Despite solid industrial production and factory output data released today and inflation that is twice as high as the Bank of England medium-term target of 2%, officials on the nine-member Monetary Policy Committee left the Bank Rate at 0.5%, which such has been since March 2009. In six steps from October 2008 to March 2009, […] More
Central Bank Watch
Bank of Korea’s Fourth Rate Hike Was Anticipated
March 10, 2011
Analysts had expected a base rate increase to 3.0% from 2.75% in February. It didn’t happen then but was done today. Three earlier tightenings of 25 basis points apiece were implemented in July 2010, November, and January 2011. From a pre-recession peak of 5.25%, such was slashed by 325 basis points in three steps of […] More
New Overnight Developments Abroad - Daily Update
Several New Developments Hurt Appetite for Risk
March 10, 2011
Chinese exports recorded only 2.4% on-year growth in February versus 37.7% in January and posted its largest trade deficit, $7.3 billion, since 2004. Moody’s downgraded Spain’s credit rating by a full notch to Aa1 from Aa2 with a negative outlook. Australian jobs fell 10.1K in February, their first monthly decline in 18 months. The jobless […] More
