Archive for March 3rd, 2014

Deeper Analysis

U.S. and Euroland Post Identical Manufacturing PMI Readings in February

March 3, 2014

The U.S. purchasing managers index rose 1.9 points to 53.2, signifying a faster rate of growth.  Orders led the improvement, while production slowed and employment grew at the same rate as in January.  The euro area PMI fell by 0.8 points to 53.2, reversing part of a 1.3-point increase in January.  The German and Italian […] More

Central Bank Watch

150-Basis Point Hike in Key Russian Interest Rate

March 3, 2014

At successive scheduled meetings last October, November, December and mid-February  of the Central Bank of Russia’s Board of Directors, the Russian key policy interest rate had been left at 5.5%, but officials lifted such today after an unscheduled meeting to 7.0%.  Previous reasons for unchanged policy in the face of above-target CPI inflation were the […] More

New Overnight Developments Abroad - Daily Update

Threat of Ukraine War with Russia Unsettles Everything

March 3, 2014

Russian soldiers entered Crimea, and the new Ukraine government in Kiev issued a warning of impending disaster.  Russian President Putin appears undeterred by the protests of U.S. President Obama and EU leaders.  Russia’s stock market fell over 10%, most since the bleakest days in early 2009. Gold and oil prices advanced by 1.8% to $1349.20 […] More