Central Bank Watch
Central Bank of the Republic of Colombia Again Keeps Key Interest Rate Unchanged
February 28, 2014
The last change in Colombia’s main central bank lending rate was a 50-basis point cut on March 22, 2013 that culminated a string of seven reduction beginning in July 2012 and cumulating to 200 basis points. Previously, the rate was raised by 225 basis points between July 2011 and July 2012. Colombian CPI inflation stood […] More
Deeper Analysis
February in Figures
February 28, 2014
February was a very different month from January in several market respects. In January, the dollar mostly rose, while equities declined for the most part. Both trends reversed in February. Net movement in ten-year sovereign debt yields this past month were insignificant is size in contrast to their substantial declines in January. West Texas Intermediate […] More
Foreign Exchange Insights and Next Week
Next Week
February 28, 2014
It’s PMI week. Manufacturing purchasing manager surveys will be released for China, Australia, Spain, Switzerland, France, Italy, Germany, Euroland, Greece, the Netherlands, Russia, Britain, the United States, South Korea, Taiwan, Vietnam, Indonesia, India, Ireland, Poland, Turkey, the Czech Republic, Canada, Mexico, Sweden, Denmark, Singapore, Norway, South Africa and Hungary. Private PMI’s arrive for Hong Kong, […] More
Deeper Analysis
U.S. and Canadian Fourth-Quarter 2013 GDP Growth
February 28, 2014
U.S. real GDP grew 11% in the 4.5-year-long recovery but just 6.2% since the last business cycle peak in 4Q07. That works out to a 1.0% per year rate of expansion over the last six years. Although measuring the discrepancy between actual GDP and potential GDP is fraught with error, it’s quite clear that the […] More
New Overnight Developments Abroad - Daily Update
Ton of Released Data, Some with Unexpected Results
February 28, 2014
The yuan suffered its greatest single-day drop in almost seven years and hit a 10-month low against the dollar. Yesterday’s testimony by Fed Chairwoman Yellen was somewhat more dovish than anticipated. The dollar is down 0.8% against the Swiss franc and 0.6% weaker versus the euro after touching a 2014 low of $1.3814 earlier in […] More
