equities

Weak Market Tone to End Decent Week

April 12, 2013

Share prices in Europe and Asia had a difficult session.  Japan’s ten-year JGB yield climbed five basis points and is over 15 basis points above recent low.  The dollar is up 0.7% against the euro but down 0.6% against the yen in a reversal of recent movements. Euroland industrial production data were disappointing.  Investors now […] More

March and 1Q13 in Figures

March 30, 2013

Short-term interest rates remained ultra-low in the first quarter of 2013.  The Federal Reserve retained an aggressive program of quantitative easing, while the Bank of Japan prepared to undertake an even more forceful monetary stimulus under new leadership.  A number of key equity markets performed very well, especially Japan’s where the Nikkei-225 index jumped almost […] More

Less Risk Aversion

March 5, 2013

Most stock markets are higher, some strongly so like China (3.0%), Germany (2.1%), Italy (2.3%), France (1.9%), and Spain (1.8%).  Equities in Australia and Britain have risen 1.3%.  Stocks in India advanced 1.4%, and the DJIA is up 1.1% and trading above its record close of 14,165 hit in October 2007.  The Nikkei is up […] More

December, 4Q12, and 2012 in Figures

January 2, 2013

Fiscal cliff worries depressed the dollar but did not prevent a rise of equities in December.  Stocks also posted gain in 2012 as a whole.  For the year, interest rates fell both in short and long maturities, particularly in Germany.  The dollar rose nearly 13% in 2012 but lost ground otherwise.  Gold climbed  7% from […] More

November in Figures

November 30, 2012

Ten-year yields fell in November, whereas short-term rates were steady.  The dollar hardly changed on balance except in the case of the yen, which appreciated 3.3%.  U.S. equities under-performed other stock markets.  Japan’s Nikkei advanced 5.8%.  West Texas Intermediate crude oil prices climbed 3.1%, while gold closed the month 0.4% lower on balance. 10-Yr Yield […] More

Continuing Slide in Share Prices

November 16, 2012

Equities in Europe show further losses so far today of 1.4% in Italy, 0.6% in Germany, Britain and Spain, and 0.3% in France.  Share prices also fell 0.9% in India, 0.8% in China, 0.5% in South Korea and 0.3% in Australia.  Contrary to the trend in most other bourses, Japan’s Nikkei-225 index jumped 2.2%.  Japanese […] More

A Substantial Downward Break in Share Prices

February 27, 2012

Equities dropped by 2.7% in India, 1.9% in The Philippines, 1.6% in Sri Lanka, 1.4% in South Korea, 1.1% in Singapore, 1.0% in Thailand, and 0.9% in Australia, Indonesia and Hong Kong.  In Europe, the British Ftse has so far lost 1.5%, and the German Dax and Paris Cac show declines of 1.2%. Japan’s Nikkei […] More

Quarter-End Distortions

September 29, 2011

Markets can get flooded around quarter-end periods by a rush of data releases and transactions inspired by accounting objectives. Investors continue to watch the unfolding European debt crisis.  Germany’s parliament is expected to approve the expanded EFSF facility today, but the vote will be a barometer of the support Chancellor Merkel retains from her own […] More

Only a Brief Respite after G20 Communique

September 23, 2011

Today is the first day of the semi-annual IMF/World Bank meetings in Washington.  G20 finance ministers and central bankers released a statement overnight that promised a coordinated response to five identified downside risks: Contagion from sovereign debt stresses. Financial systems fragility. Market turbulence. Weak economic growth. Unacceptably high unemployment. European share prices initially rose after […] More

January 14, 2000: A Date to Remember

August 23, 2011

January 14, 2000 is a well-suited statistical benchmark for assessing the U.S. economy.  If February 3, 1959 was the day the music died as immortalized in Don McLean’s ballad American Pie, calling January 14, 2000 the day the American economy died is only a slight overstatement because the before-and-after performances around that milestone are so […] More

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