Canadian labor statistics
Inflation and Industrial Production Headline Busy Day of Data Releases and Central Bank News
February 10, 2023
Today has been a difficult day for stocks and bonds. Hong Kong’s Hang Seng index closed 2.0% lower, and the German, French, Italian, and Spanish stock markets are each down over 1.0%. U.S. stock futures were down 0.5-1% prior to the U.S. open. Ten-year sovereign debt yields had advanced by seven basis points in Italy […] More
Stocks Attempt to Bounce but Outlook Uncertain
July 9, 2021
Following Thursday’s wave of risk aversion, equities and sovereign debt yields rose in early Friday trading, and the dollar edged lower. Several Chinese and British data were release. The People’s Bank of China cut reserve requirements by 50 basis points, which is projected to release about one trillion yuan of extra liquidity and hopefully buttress […] More
Weaker-than-Forecast European Industrial Production Lifts Dollar
April 9, 2021
The dollar rebounded 0.2% against its weighted index overnight from a 2-week low. One boost came from a five-basis point rise of the ten-year U.S. Treasury yield, even though other comparable sovereign debt yields also advances strongly. The dollar rose 0.4% against the yen, 0.3% versus the Mexican peso, 0.2% vis-a-vis the Swiss franc and […] More
Large Rise in Dollar and Sovereign Debt Yields
March 12, 2021
Yesterday was a momentous day for the Biden Administration. He signed the nearly $1.9 trillion American Rescue Plan on the one-year anniversary of last year’s Covid lockdown and then gave his first prime time address to the nation, setting a goals for vaccinations and a start of permissible family gatherings. Overnight, the trade-weighted dollar climbed […] More
In Suspense Ahead of Tariff Announcements
September 7, 2018
President Trump is expected to announce a huge ramp-up in tariffs next week, especially on imports of Chinese goods, and China will no to retaliate in kind. Some pundits worry this escalating trade war will hammer U.S. equities, depress U.S. growth, lift U.S. inflation, and further incentivize the FOMC to raise interest rates. Stocks in […] More
Fresh Appreciation for Latest ECB Actions Spurs Market Rally
March 11, 2016
Share prices in Europe have rallied 3.1% in Germany, 4.4% in Italy, 3.3% in Spain, and 1.6% in Great Britain. Stock markets in the Pacific Rim closed up 0.3% in Australia, 0.5% in Japan, 0.2% in China and 0.4% in India. The Dow shows a current daily advance of 1.2%. West Texas Intermediate crude oil […] More
Weak Data Fuels Further Selling Pressure on Oil and Equities
October 10, 2014
Equities sold off further in Asia and Europe. The dollar is mostly higher. Many in the U.S. are observing a 3-day weekend for the Columbus Day holiday. WTI oil dropped more than 1% to $84.55. Gold is 0.2% softer. 10-year gilt yields are five basis points lower. 10-year sovereign debt yields remain below 1.0% in […] More
Comments on U.S. and Canadian Jobs Data
July 5, 2013
The wire service headlines told the good news from the U.S. jobs report. Employment in June, up 195K, was 30K more than forecast, while revisions to April and May levels identified 77K more workers than counted previously. Growth in private-sector employment exceeded 200K in both May and June. Jobs grew by a decent 1.7% over […] More
Stronger Euro and Commodity Prices
April 8, 2011
Gold at $1471.20 per ounce is at another record peak. Silver hit a 31-year high of $40.23 per ounce. Oil reached a 30-month high of $111.68 per barrel and is 1.1% stronger on the day. The ECB’s tightening yesterday has buoyed the euro, which at $1.4411 is 0.7% above yesterday’s closing level. The dollar also […] More
