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October 4, 2018
Ten-year sovereign debt yields extended their recent advance by 13 basis points in Greece, 8 bps in Great Britain, 6 bps in Italy, Germany and The Netherlands, 5 bps in France, 3 bps in U.S. Treasury futures, and 2 basis points in Japan. Fed Chairman Powell expressed strong confidence in an interview yesterday that solid […] More
Tags: Kavanaugh FBI investigation, rising long-term interest rates
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Long-Term Interest Rates Climb Higher All Around the World
October 3, 2018
After Italy’s government had worried markets earlier by submitting a budget with a deficit of 2.4% of GDP, informed sources said that deficits would shrink after next year and settle back to 2.0% of GDP in 2021. A relief rally saw the 10-year sovereign Italian debt yield shed 13 basis points and Italy’s share prices […] More
Tags: Euroland retail sales, Italian budget, service sector PMI reports
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Less Concern about Italy than Felt Yesterday
October 2, 2018
A quote from European Commission President Jean-Claude Junker set the tone for trading today: “I would not wish that, after having really been able to cope with the Greek crisis, we’ll end up in the same crisis in Italy.” Ten-year sovereign debt yields, while dropping today by 3 basis points in France, Germany, The Netherlands, […] More
Tags: Central Bank of Sri Lanka, Euroland producer prices, Japanese consumer confidence, Reserve Bank of Australia
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Intensifying Concern that Euro Area Is Drifting Into a Fresh Debt Crisis over Italy
October 1, 2018
China will be closed all week, commemorating the communist revolution of 1949. Hong Kong’s market was similarly shut, and so was Australia’s due to Labour Day and the Queen’s Birthday observance there. A three-country Nafta remake including Canada as well as Mexico was fashioned at the last minute. Changes from the original deal were less […] More
Tags: BOJ Tankan corporate survey, Euroland unemployment, German retail sales, manufacturing purchasing managers surveys
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Fourth Quarter Opens with Japanese Tankan Survey and a Slew of Manufacturing PMI Surveys
September 28, 2018
The new populist government of Five Star in Italy passed a stimulative budget, with a deficit equal to 2.4% of GDP and well above what Italy’s Euroland colleagues wanted to see. In response, the country’s 10-year sovereign debt yield leaped 33 basis points to 3.22%, while the comparable Greek sovereign debt yield went up 16 […] More
Tags: British GDP and current account, euro area CPI, German unemployment, Italian budget, U.S. personal consumption expenditures
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Quarter-End Rush of Data, Italian Fiscal Concerns, and U.S. Supreme Court Drama
September 27, 2018
The testimonies of Kavanaugh and Blassey Ford start at 10:00 EDT (14:00 GMT). This has been a busy day already from a central banking and data release standpoint. The dollar overnight firmed by 0.7% against the Swiss franc, 0.6% relative to the Aussie dollar, 0.5% vis-a-vis the euro and loonie, 0.3% against the kiwi, 0.2% […] More
Tags: Euroland economic sentiment, Euroland money growth, Kavanaugh, U.S. GDP
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on All Eyes on the Senate Judiciary Committee
September 26, 2018
The FOMC policy announcement today at 14:00 EDT (18:00 GMT) is expected to justify another 25-basis point rate hike now and to leave in play a possible fourth move this year in December. New forecasts will be unveiled, and Chairman Powell will preside over a press conference starting at 14:30 EDT to explain the latest […] More
Tags: Czech National Bank, FOMC, FOMC Day
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Marking Time Ahead of Likely FOMC Rate Hike Later Today and Kavanaugh Hearing Tomorrow
September 25, 2018
The FOMC is expected to raise its interest rate tomorrow. New forecasts will be released, and Powell presides over a press conference. A third woman has surfaced, accusing Supreme Court nominee Kavanaugh of sexual misconduct. The Senate Judiciary Committee hearing is set for Thursday. The third event of this upcoming three-ring circus will be the […] More
Tags: German WPI, Japanese corporate service prices, Kavanaugh, U.S. house prices
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Equities Revive as Markets Look Ahead to FOMC and Kavanaugh Hearing
September 24, 2018
Equities dropped 2.0% in Hong Kong, 1.8% in India, 1.3% in Indonesia and 0.5% in New Zealand. Losses in European markets so far amount to 1.2% in Greece, 0.6% in Italy, 0.5% in Spain, 0.3% in Germany, 0.2% in France and Switzerland, and 0.1% in Great Britain. The more sour mood reflects China’s refusal to […] More
Tags: German business climate index, Kavanaugh hearing
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Last Week’s Stock Market Euphoria Dissipates
September 21, 2018
The dollar strengthened this Friday by 1.4% against the Turkish lira, 0.7% relative to the Russian ruble and sterling, 0.6% vis-a-vis the South African rand, 0.4% versus the Mexican peso, 0.2% against the yen and Brazilian real, and 0.1% relative to the euro, loonie, Australian and New Zealand dollars. The Hong Kong dollar was an […] More
Tags: Canadian retail sales and CPI, Japanese consumer prices, preliminary Euroland and Japanese PMI surveys, U.S.-China trade dispute
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Firmer Dollar and Equities as Summer Turns to Autumn
