Deeper Analysis
3.5-Point Swing in Manufacturing U.S.-Euro Area PMI Spread
June 2, 2011
At –1.1, the U.S. minus Euroland factory-sector purchasing manager index differential was negative in May for the first time since September. The euro averaged $1.433 in May, a pricey value from an historical standpoint, but one wouldn’t know that from these PMI results. America’s overall index slumped 6.9 points, and key components such as production […] More
Central Bank Watch
A Seventh Hike of Thailand’s Monetary Policy Rate
June 2, 2011
The Bank of Thailand lifted its key policy interest rate for a seventh time on Wednesday. Six prior moves had been implemented, three in 2010 (July, August and December) and three more in January, March and April of this year. All seven increases were by 25 basis points from a cyclical low of 1.25% to […] More
New Overnight Developments Abroad - Daily Update
Global Growth Worries Continue to Lift Euro and Swissy and Depress Equities
June 2, 2011
Markets continue to reel from Wednesday’s discouraging data. U.S. jobless insurance claims released today added to that funk. Stocks fell 1.7% in Japan, 1.6% in Hong Kong and China, 2.3% in Australia, and 1.3% in South Korea. The Paris Cac, German Dax, and British Ftse have declined so far by an additional 1.1%, 1.0%, and […] More
