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April 4, 2019
German factory orders, which had been expected to edge marginally higher, instead plunged 4.2% in February following a 2.1% drop in January that left the combined January-February average 3.7% lower than the 4Q mean and February’s level 8.4% below a year earlier. Export orders sank 6.0% and domestic demand for capital goods, a leading indicator […] More
Tags: Brexit and forex, German industrial orders, Reserve Bank of India
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on A Dive in German Factory Orders, A Cut in Indian Interest Rates, and Still No Resolution on Brexit
April 3, 2019
The dollar slipped 0.4% against the euro and 0.2% relative to the yen, loonie, yuan, and Swiss franc. Larger dollar drops of 0.8% and 0.6% occurred versus the Australian and New Zealand dollars, and a 0.1% uptick happened versus the yen. Share prices in the Pacific Rim strengthened 1.2% in China, Hong Kong and South […] More
Tags: ADP private employment, Euroland retail sales, National Bank of Poland, service sector purchasing manager indices
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar Eased but Share Prices and Sovereign Debt Yields Rose Overnight
April 2, 2019
The British House of Commons still cannot find sufficient agreement on the terms of withdrawing from the EU. Faced with binary scenarios of withdrawal without a deal or a lengthy delay in leaving, the first option is looking more and more likely. The 10-year British gilt yield dropped five basis points in response overnight, but […] More
Tags: Brexit news, Euroland producer prices, National Bank of Romania, Reserve Bank of Australa, U.S. durable goods orders
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on U.K. in Greater Danger of a No Deal Brexit
April 1, 2019
This is not an April Fool’s joke. China’s NBS manufacturing purchasing managers index climbed 1.3 points to a 6-month high of 50.5 in March from February’s 3-year low, while the Caixin-compiled Chinese manufacturing PMI reading of 50.8 constituted an 8-month high. Also, the NBS nonmanufacturing PMI rose 0.5 points to a 6-month high as well […] More
Tags: Bank of Japan Tankan survey, Euroland CPI and unemployment, Manufacturing PMIs
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Stocks and Sovereign Debt Yields Up on Better-than-Expected Chinese and British Manufacturing Data
March 29, 2019
Today was to have been Brexit Day, but it appears the Prime Minister May’s plan will be defeated in parliament for a third time. More confusion ahead. The United States and Chinese trade talks haven’t yet sealed a deal, but one seems to be getting a lot closer. Many pundits on such matters doubt it […] More
Tags: Brexit, French and Italian consumer prices, German import prices and retail sales, Japanese industrial production, trade talks, U.S. personal spending and income
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Quarter-End Finds Focus on Brexit, Sino-U.S. Trade Talks and a Data Shower
March 28, 2019
The Turkish lira slumped 5% against the dollar overnight when Turkish reserves data showed a large drop from previous intervention to support that currency. Still no word from the South African Reserve Bank’s monetary policy review, but analysts aren’t anticipating a rate hike. However, there is concern ahead of Moody’s sovereign debt call on South […] More
Tags: Brexit, Euroland economic sentiment, Euroland money and credit growth, South African rand, Turkish lira
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Weaker Turkish, South African and British Currencies
March 27, 2019
The kiwi dropped 1.4% overnight. New Zealand’s 10-year sovereign debt yield slumped 11 basis points, whole share prices in that market rose 1.6%. A statement released after a regular monetary policy review that left the Reserve Bank of New Zealand’s official cash rate unchanged at 1.75% paints a downbeat economic outlook not limited to the […] More
Tags: ECB President Draghi, Reserve Bank of New Zealand
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Big Reaction in New Zealand Financial Markets to Downbeat Central Bank Statement
March 26, 2019
In futures trading, the 10-year treasury yield rose five basis points to 2.44%. The 10-year German bund and Japanese JGB yield firmed two bps, while their British counterpart is 3 basis points firmer. Share prices rebounded 2.2% in Japan, 1.1% in India, 0.9% in Indonesia, 0.8% in Taiwanand 0.6% in Singapore. European equity markets are […] More
Tags: Brexit, French and Dutch GDP, German consumer confidence, Trump
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Share Prices and Sovereign Debt Yields Rebound… Brexit Situation Remains Muddled
March 25, 2019
Last Friday had been a brutally difficult day in financial markets after the U.S. 3-month T-bill rate moved above the 10-year Treasury note yield for the first time since the Great Recession. Monday has seen reassuring news on several fronts but not before share prices in the Pacific Rim tumbled 3.0% in Japan, 2.3% in […] More
Tags: Central Bank of the Republic of Turkey, IFO German business climate index, Mueller finding
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Several Reassuring Developments
March 22, 2019
There’s been a big move into safe assets, reflecting three developments since Wednesday: The Fed’s decision was more dovish than expected, putting interest rate normalization on hold for all of 2019 and ending the balance sheet rundown after September. EU leaders put Britain on a short leash to decide on its Brexit plan. While March […] More
Tags: Brexit, Canadian CPI and retail sales, euro area current account, Euroland PMI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on A Fresh Wave of Risk Aversion
