Larry's Blog
American Dream Slip-Sliding Away
June 1, 2020
The dollar has been the lynchpin of the international monetary system since the Second World War. This special role in itself generates enormous economic advantages that other countries do not enjoy. This is not an essay about the perks of dollar hegemony but rather an examination of the basis for enduring confidence in the dollar […] More
Deeper Analysis
U.S. and Euro Area Manufacturing PMIs Compared
June 1, 2020
The table below compares the U.S. ISM-compiled and Euroland’s IHS-compiled manufacturing purchasing manager surveys. In May 2020, the U.S. index recovered 1.6 points to 43.1, whereas Euroland’s PMI rose 6.0 points to 39.4. May’s readings represent two-month highs in each instance, and while the spread between the two readings narrowed by a sizable 4.4 points […] More
New Overnight Developments Abroad - Daily Update
More Street Protests Rock U.S. Cities, Adding Uncertainty to Economy’s Reopening
June 1, 2020
It’s been an up-day for equities in Asia and Europe, but that trend may not extend to the United States where several cities (including NY, Chicago, Seattle, L.A., Atlanta and Philadelphia) experienced continuing racial protests with violence on Sunday. U.S.-Sino tensions remain very elevated. In lifting Hong Kong’s special trade status and threatening actions against […] More
