Deeper Analysis
June and Second Quarter 2020 in Figures
June 30, 2020
The second quarter will be best remembered for the strong advances of stock markets after the first quarter’s debacle. Share price strength continued into June. There were no central bank interest changes in the countries featured in this update during the quarter, and net changes in 10-year sovereign debt yields were very small in June. […] More
New Overnight Developments Abroad - Daily Update
Some Setbacks, Many Data Reports, and Powell to Testify
June 30, 2020
After a big gain on Monday, U.S. equity futures point to a lower Tuesday open. In Europe so far, share prices have settled back 0.7% in the U.K. and Spain, 0.4% in Italy, 0.3% in Switzerland and 0.1% in France. In the Pacific Rim, markets closed up 1.4% in Australia, 1.9% in New Zealand, 1.3% […] More
New Overnight Developments Abroad - Daily Update
Coronavirus Still Dominating Markets
June 29, 2020
Over the weekend, the global coronavirus case and death counts went over 10 million and half a million, respectively. Compared to Friday at this time, there has been an increase of 132k and 1,653 in U.S. identified cases and deaths attributed to Covid-19. Florida and Texas are struggling. Polish President Duda failed to capture a […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: June 27 – July 3, 2020
June 26, 2020
Central Banks: The Swedish Riksbank has a scheduled monetary review next week. Powell, Brainard, and Williams are some of the top Fed officials with public speaking engagements, and so do Deputy Governor Debelle of the Reserve Bank of Australia and Jonathan Haskel of the Bank of England Monetary Policy Committee. FOMC minutes will be published. […] More
New Overnight Developments Abroad - Daily Update
Another Record Daily High in New Covid-19 Infections
June 26, 2020
Over the past 24 hours, new coronavirus cases and deaths in the United States rose by 41,735 and 2,491. Total reported U.S. cases moved marginally above 2.5 million, but in a chilling portent of the possible future trend, medical officials believe that outstanding U.S. infections may be as much as ten times greater than the […] More
Deeper Analysis
U.S. Economic Trends and Prospects
June 25, 2020
During the 21st century the United States has experienced faster economic growth than Japan and Euroland more times than not. The Great Recession was less pronounced, and the subsequent recovery emerged sooner and proceeded more vigorously in America. This year’s recession struck abruptly in the first quarter, but the 5.0% annualized contraction of U.S. GDP […] More
Central Bank Watch
Another Mexican Central Bank Interest Rate Cut
June 25, 2020
The Governing Board unanimously cut the overnight interbank interest rate by 50 basis points to 5.0%. This was the fourth straight monthly cut of 50 basis points, and there was also a 25 basis point cut made in February and three 25-bp reductions during the last four and a half months of 2019. The rate […] More
Central Bank Watch
Fourth Filipino Central Bank Rate Cut of 2020
June 25, 2020
At the Central Bank of The Philippines, the key overnight reverse repo rate was reduced by 50 basis points to 2.25%. Such had been also cut by a half percentage point in both March and April and by 25 basis points back in February. Officials released a statement, identifying a deterioration in global GDP conditions […] More
New Overnight Developments Abroad - Daily Update
Distress Persists that Runaway U.S. Outbreak Will Constrain Recovery
June 25, 2020
America’s bad Covid-19 numbers continue to dominate world financial markets this Thursday. China, Hong Kong and Taiwan are closed for the Dragon Boat Festival, but in other stock markets in the Pacific Rim, share prices closed with losses of 2.5% in Australia, 2.3% in South Korea, 1.5% in Singapore, 1.4% in Indonesia and 1.2% in […] More
New Overnight Developments Abroad - Daily Update
Investors Spooked by Faster Proliferation of New Covid-19 Cases in the United States
June 24, 2020
The year-to-date number of reported U.S. infections, 2.424 million, has climbed somewhat more than 36k in the past 24 hours and 216 thousand from a week ago. This has created doubt that economic reopening can proceed as planned, and even supporters of President Trump are starting to lose patience that he has the right stuff […] More
