Archive for June 25th, 2013

Deeper Analysis

The Crux of the Fed Tapering Debate Boils Down to the Likely Future Growth Rate

June 25, 2013

The long-term growth rate of U.S. real GDP has been decelerating.  Real GDP expanded at a 4.0% annualized growth rate over the 25 years to the fourth quarter of 1974 and 3.3% per annum over the ensuing quarter century to 4Q99.  Since end-1999, GDP has climbed at a 1.7% annualized rate including 1.8% over the […] More

Central Bank Watch

Hungary Gets 11th Consecutive 25-Basis Point Central Bank Interest Rate Reduction

June 25, 2013

The Magyar Nemzeti Bank Council, which meets monthly, approved a a 25-basis point cut in the two-week deposit rate in each of the final five months of 2012 and in every month of the first half of 2013.  BUT, today’s action was accompanied by an amber light that cuts in the future may become less […] More

New Overnight Developments Abroad - Daily Update

Roller Coaster Ride in Asian Equities

June 25, 2013

The dollar has retreated 0.4% against the yen, 0.3% versus the loonie, and 0.1% against the Aussie dollar and sterling but has edged up 0.2% relative to the yuan and 0.1% vis-a-vis the Swiss franc and kiwi.  EUR/USD is steady at $1.3124. China led another steep decline in Asian share prices initially overnight, but losses […] More