China trade balance

Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings

October 13, 2020

Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More

Economic Reopening Spreads Even as Pandemic Chugs On

June 8, 2020

Many more business establishments will be reopening on a modified basis this week in a calculated gamble that the Covid-19 pandemic doesn’t intensify unduly as a result. An additional risk for the United States is the unknown impact of the many days of street protests since the death of George Floyd. Globally reported confirmed cases […] More

Disconnection Thursday Between Recessionary Data and Buoyant Stocks

May 7, 2020

Equities were mixed in Asia but have risen more impressively in Europe this morning. There were drops of 0.8% in India, 0.7% in Hong Kong and 0.2% in China but advances of 0.6% in Taiwan, 0.3% in Japan and 0.5% in New Zealand. The British Ftse, German Dax, and Paris Cac each have risen at […] More

Easter Break Over but Covid-19 Pandemic Continues to Dominate Financial Market News

April 14, 2020

Having made the three biggest mistakes in handling the pandemic, the United States has now taken the global lead in both number of cases (30.3% of the worldwide total) and deaths (23,644 or 19.6% of the total). The mistakes were 1) being late to socially distance people, 2) deficient testing to identify asymptomatic carriers of […] More

Pandemonium on Many Fronts

March 9, 2020

The Covid-19 coronavirus continues to spread worldwide, with cases of about 111,500 so far, deaths of 3,833, and 13% of currently infected patients in serious or critical condition. Restrictions on movement have been tightened, many schools are shut, and riots have broken out in some prisons. The price of oil has plummeted. Brent dropped over […] More

More Central Banks Cut Interest Rates, Persistent Trade Tensions, and Lower Inflation

August 8, 2019

Central bank interest rates were cut by 25 basis points today in the Philippines and  Serbia. Earlier this week, rates had been reduced by central banks in India (35 bps), Thailand (25 bps), and New Zealand (50 bps).  The common thread in these moves is the trade war unleashed by U.S. President Trump, the weaker […] More

Equities and Sovereign Debt Yields Up After U.S. Tariff Hikes on Mexico Averted

June 10, 2019

A deal was reached between U.S.  and Mexican officials in which Mexican troops will be deployed to contain migrants crossing into the U.S. and President Trump withdrew his threat of escalating tariffs. The success of this deal will be reassessed in 3 months. In market action overnight equities, the price of oil and 10-year sovereign […] More

Stocks and Oil Firmer but Dollar and Fixed Income Asset Prices Lower

April 12, 2019

The dollar has weakened 0.7% against the Aussie dollar, 0.6% relative to the kiwi, 0.5% versus the euro, 0.4% vis-a-vis the loonie, 0.3% against the yen, peso and sterling and 0.2% versus the Swiss franc and Chinese yuan. The price of WTI oil strengthened nearly 1% overnight and is again above $64.00 per barrel. The […] More

China Leads Overnight Selloff in Stocks

March 8, 2019

Downward pressure on global equities caused by evidence of a slowdown had been building this week but intensified overnight. Share prices in the Pacific Rim plunged 4.4% in China, 2.8% in Hong Kong, 2.0% in Japan, 1.3% in South Korea, 1.2% in Indonesia and Australia, and 1.0% in Singapore. In Europe so far, stocks are […] More

Stocks Depressed by Lessening Global Growth and Inflation

January 14, 2019

It’s been a hard day’s night for stocks. Share prices overnight fell by 1.4% in Hong Kong, 0.9% in India, 0.7% in China, 0.5% in Taiwan and South Korea, and 0.4% in Indonesia. European equities are down 1.1% in Italy and Spain, 1.0% in Switzerland, 0.9% in Greece and Great Britain, 0.7% in France and […] More

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