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New Overnight Developments Abroad – Daily Update

Dampened Activity Due to Holidays in Asia and North America

February 19, 2018

The U.S. dollar is unchanged against the euro, peso, sterling and Canadian and New Zealand dollars.The greenback slipped 0.2% relative to the Aussie dollar and 0.1% vis-a-vis the Swiss franc but edged up 0.1% versus the yen. Several Asian markets remained closed for the Lunar New Year holiday, including those in China, Taiwan, Hong Kong, […] More

Holidays Dampen Activity… Contrasting Sentiment Continues Around Dollar and Equities

February 16, 2018

Friday saw Lunar New Year market closures in China, which won’t reopen until February 22, Taiwan, Hong Kong, Singapore, Indonesia, South Korea and Malaysia. Moreover, U.S. fixed income markets will shut early ahead of the 3-day Presidents Holiday. Canada will also be closed Monday (Family Day). Equities continue to rebound, climbing 1.2% in Japan, 1.0% […] More

Stocks Recover Further, While Bond Prices and Dollar Move Lower

February 15, 2018

Japan’s Nikkei jumped 1.5%. A number of other Asian markets (China, Taiwan, Hong Kong, and Singapore did not open because of the Lunar New Year holiday. Share prices in Europe are so far up today by 1.5% in France and Greece, 1.0% in Italy, 0.8% in Spain, 0.7% in Germany and 0.6% in the U.K.. […] More

Significant Data Reports

February 14, 2018

Japanese real GDP expanded only 0.5% at a seasonally adjusted annualized rate last quarter, the weakest pace in eight quarters and down from 2.2% in 3Q and 2.5% in 2Q17. GDP still grew faster (1.6%) in 2017 than the prior year’s pace of 0.9%. The GDP price deflator went up merely 0.2% in 2017 and […] More

Another Selling Wave Hits Stocks

February 13, 2018

Concern about the U.S. fiscal deficit appears to have been the catalyst for the latest drop in equities. A bill that passed the House by a vote of 240 to 186 and the Senate by 71 to 28 has been signed by President Trump, aborting a short-lived government shutdown, the second one of his administration. […] More

Fragile Market Conditions

February 12, 2018

Stocks rose, and the ten-year Treasury yield of 1.84% is five basis points below the recent peak. However, the rhetoric of comments about the market sounds unconvinced that last week’s extreme turmoil is out of the system.  The DOW at this hour shows a rise of 0.8%, but the S&P 500 is only 0.3% firmer. […] More

Continuing Stock Market Jitters

February 9, 2018

Equities lost 4.1% in China, 3.6% in Hong Kong, 2.3% in Japan, 1.8% in South Korea. They are down 0.9% in France and 0.7% in the U.K. and Germany. After yesterday’s second 1000+ point daily drop of this week, the DOW initially rose today but now shows a decline of nearly 200 points. It’s taken […] More

Equity Market Volatility Picks Up

February 8, 2018

It’s been another difficult day for equities. Today’s session started fine enough, with gains of 1.0% in India, 0.5% in South Korea where the Winter Olympics are getting under way, and 0.4% in Hong Kong. These up-moves balanced declines of 0.4% in Japan and 1.4% in China where a considerably smaller trade surplus for January […] More

Calmer Waters…. Many Central Banks Holding Policy Reviews

February 7, 2018

U.S. stocks rose in the first hour of trading following Tuesday’s extreme whipsaws. In Europe, equities show gains so far of 2.3% in Italy and between 1% and 2% in the U.K., France, Germany, Switzerland, Greece, and Spain. Japan’s Nikkei only rebounded 0.2%, and further evidence that things are not fully back to normal markets […] More

Fear Time

February 6, 2018

FDR famously declared that the only thing we have to fear is fear itself, and markets have been finding plenty of that since share prices crested at the end of the week ending January 26th. The DOW is already down nearly 1% today and has dropped 9.2% in just over six sessions. Tuesday equity losses […] More