Chinese retail sales and industrial output
Intensifying Equity Correction and Much Fresh Data to Absorb
January 17, 2024
The optimistic investor mood of late 2023 has evaporated. Hawkish central banker-speak has quelled hopes for an early start to the unwinding of tight monetary policy stances, and markets are also concerned about China’s economic performance, Former President Trump’s reelection prospects, and the risks of a full-blown multi-front war in the Middle East and rising […] More
China Reports Economic News; U.S. MLK Birthday Holiday Squelches Market Response
January 17, 2022
The U.S. observance of Martin Luther King Jr.’s birthday points to light market trading volume this Monday and will limit any immediate reaction to the release of Chinese data covering fourth-quarter GDP and capacity usage, December retail sales, industrial production, property prices, fixed asset investment, unemployment or the first interest rate cut by the People’s […] More
Much New Data for Investors to Digest
August 14, 2020
Today’s been one of those Friday’s with a significant body of economic data releases both from both a quantitative and qualitative standpoint. Prior to the U.S. contingent of releases, the dollar overnight had dropped 0.4% against sterling and 0.3% relative to sterling but risen by 0.2% against the Canadian and Australian dollars and 0.1% vis-a-vis […] More
Yield Curve Inversion Amplifies Recession Fears and Flight to Safe Assets
August 14, 2019
The 2-year Treasury note yield edged marginally above the 10-year yield for the first time in 14-1/2 years. This and a similar yield curve inversion in the U.K. happened as investors selectively fixated on weak data while ignoring some better-than-expected statistics, causing share prices to drop sharply in Europe and the United States. Losses amount […] More
Japanese GDP Contracted in 3Q, while Eurozone Growth Slowed in Half
November 14, 2018
Data released this Wednesday confirmed a widening gap between economic growth in the United States on the one hand (3.5% at a seasonally adjusted annualized rate SAAR last quarter) and Japan and Euroland on the other. Japanese real GDP contracted 0.3%, or 1.2% SAAR in 3Q. Personal consumption (-0.5% SAAR), public sector expenditures (-0.9%), and […] More
Investors Remain on Edge
October 19, 2018
China reported the lowest on-year GDP growth (6.5% in 3Q) since the first quarter of 2009. Damning evidence continues to mount that the highest levels of the Saudi government were complicit in the likely death of dissident journalist Khashoggi. U.S. Treasury Secretary Mnuchin upcoming trip to Saudi Arabia was cancelled. Two Fed officials, Governor Quarles […] More
Risk-Off Mood in Financial Marketplace
June 14, 2018
Investors are reacting Thursday to An increasing likelihood of four Fed rate hikes this year and three more in 2019 following yesterday’s federal funds rate increase and hawkish press conference. News today from the European Central Bank that monthly asset buying will be sliced in half to EUR 15 billion from October and eliminated altogether […] More
Some Fresh Developments
September 14, 2017
The Bank of England’s Monetary Policy Committee did not change interest rates or asset purchase parameters but signaled a growing probability of a rate increase within a couple of months. In response, sterling rose 0.8% against the dollar, the 10-year British gilt yield climbed three basis points to 1.17%, and the Ftse stock index declined […] More
Dollar Firmer Especially against Sterling
March 14, 2017
The British parliament granted Prime Minister permission to activate Article 50 of the Lisbon Treaty later this month. Doing so will begin a two-year countdown to negotiate terms and complete the process of leaving the European Union. The dollar advanced 0.8% against the pound in response. The dollar has also risen 0.2% against the euro, […] More
Rotation in Investment Strategies Extended
November 14, 2016
The dollar continued to climb, gaining overnight by 1.0% against the yen, 0.9% versus the Swiss franc, 0.8% relative to the euro, 0.7% vis-a-vis sterling, 0.5% against the kiwi, 0.3% versus the Mexican peso and 0.1% against the loonie. Since the close on November 8, the day of the U.S. election, the dollar has advanced […] More
