Archive for April 30th, 2014

Deeper Analysis

April in Figures

April 30, 2014

Long-term bond yields fell in April but not as sharply as they had in March.  Short-term interest rates remained extremely low, anchored by zero- or near-zero central bank policy rates.  Net dollar movements in the month were comparatively limited and directionally mixed.  The yen and pound were the strongest monies in the month.  The Nasdaq […] More

Central Bank Watch

Uneventful FOMC Meeting as Expected

April 30, 2014

A statement released after the two-day Federal Open Market Committee meeting this week reads almost identically to the prior March 19 statement.  The few changes made involved the first paragraph mostly, which deals with the committee’s view of economic conditions.  As at the three prior meetings in December, January and March, monthly purchases of mortgage-backed […] More

Central Bank Watch

Bank of Japan Board Leaves Policy Unchanged, Releases Semi-Annual Outlook

April 30, 2014

The interest rate and asset purchase policy settings will continue to be those that were introduced thirteen months ago.  Japan’s central bank is pursuing a virtual zero interest rate policy within a range of 0.0-0.1% on its overnight interest rate.  The monetary base is being increased at an annual pace of about 60-70 trillion yen […] More

Central Bank Watch

FOMC Preview

April 30, 2014

This should be a routine event as FOMC meetings go.  Expectations of a further $10 billion drop in the Fed’s monthly asset purchases are virtually certain to be met.  No post-announcement press conference is scheduled, nor are updated forecasts being released.  All the market gets is a statement that will mimic most of the elements […] More

Central Bank Watch

Bank of Israel

April 30, 2014

The monthly policy board meeting this past Monday left Israel’s monetary policy interest rate unchanged at 0.75% and released a statement that noted CPI inflation in March was just 1.3%.  It also averaged 1.3% in the first quarter, and the statement notes that inflation over the coming year is expected to lie in the bottom […] More

Deeper Analysis

Comment on U.S. GDP Clunker

April 30, 2014

Real GDP edged only 0.1% higher last quarter at an annualized rate.  Most other governments don’t bother with Washington’s custom of annualizing quarterly growth and would have reported today’s growth rate as a mere 0.03%.  Either way, the result was far below forecasts centered on 1.5%.  A number of analysts also have been predicting full-2014 […] More

New Overnight Developments Abroad - Daily Update

Awaiting FOMC Decision as First Third of 2014 Winds Down

April 30, 2014

The dollar has slipped 0.3% against the Swiss franc, 0.2% versus the euro and 0.1% relative to the yen and kiwi.  The greenback is 0.1% firmer against the loonie and unchanged versus the Australian dollar, Chinese yuan and sterling. Share prices in the Pacific Rim fell 1.4% in Hong Kong but rose 1.6% in New […] More

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