Deeper Analysis
October in Figures
November 1, 2011
A revival of risk aversion drove equities and commodities higher and the dollar downward over the bulk of October. News of a Greek voter referendum on November 4 that will quite plausibly torpedo the October 26 EU agreement resulted in a significant trimming of these trends on the final trading day of the month and […] More
Larry's Blog
Power Back Up
November 1, 2011
America’s Northeast was hit by a rare late October snowstorm that left a couple of million households without power. Mine was just restored after a 69-hour interval without electricity, cable coverage, internet access and WiFi. It’s amazing how sweepingly international markets can change in fewer than two full trading days. Compared to Friday closing level, […] More
Central Bank Watch
Reserve Bank of Australia Cuts Official Cash Rate (OCR) to 4.5%
November 1, 2011
The RBA eased monetary policy for the first time since a 25-basis point OCR cut in April 2009 culminated a six-step 425 basis point easing from September 2008. Today’s reduction was also by 25 basis points. Aggressive monetary and fiscal stimulus as the world economy sank into the Great Recession enabled Australia to be among […] More
New Overnight Developments Abroad - Daily Update
Greece Takes Away the World’s Punch Bowl
November 1, 2011
Confidence in the EU summit agreement of October 26th had already begun to wane, but the decision by Greek Prime Minister Papandreou to submit to a voter referendum the EU deal including the additional austerity required of his country has sent world financial markets back into full crisis. The outcome of this Friday’s referendum is […] More
