Chinese industrial output and retail sales

Markets Comfortable with Tomorrow’s Likely Fed Tightening

December 13, 2016

Stocks have risen in Asia, Europe and North America. Ten-year German bunds and British gilt yields are down three basis points. The 10-year JGB yield edged a basis point lower, and the 10-year Treasury is steady. Oil is trading firmly at $52.75 per barrel, albeit down 0.2% from Monday’s close. Gold declined 0.7% to $1,157.70 per […] More

Yuan Decline Triggers Fresh Drop in Global Equities and Sovereign Debt Yields

August 12, 2015

The yuan fell by a further 0.9% against the dollar to 6.38, and in Hong Kong offshore trading the quote sank to 6.552.  Chinese central bank officials played down the development as a temporary adjustment to the new pricing system that will be more heavily influenced by market forces.  They asserted that economic fundamentals do […] More

More Euro Weakness as Draghi Hails Initial Success of Quantitative Easing

March 11, 2015

The euro fell another 1.1% against the dollar overnight, touching a low of $1.0560 and bringing the cumulative year-to-date depreciation to 12.5%.  It’s become even more apparent that the real intent of quantitative easing is to substantially depreciate the external value of currency.  The Bank of Japan did that in 2013, and now it is […] More

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