Euroland
Expected Long-Term Economic Growth in Selected Advanced Economies
March 8, 2010
This is the time of year when forecasters first wheel out projections for the next calendar year. Since over nine months remain before the period begins and more than 21 months remain before it ends, the forecasts are good proxies for estimates of long-term trend growth. One sense of consensus forecasts is published each month [...] More
Stocks Again Up But So Is the Dollar
February 17, 2010
After falling sharply Tuesday, the dollar recovered 0.5% against the yen, 0.4% relative to the euro and Swissy, 0.3% against sterling, 0.2% against the kiwi and 0.1% against the Australian dollar. The Canadian dollar is steady against its U.S. counterpart. The Bank of Korea Governor opined that the dollar’s long-term trend is down. More
Fourth-Quarter Economic Growth in The United States and Japan
February 15, 2010
The United States and Japan had similar growth in GDP, consumption, business investment, and exports last quarter. The following table expresses fourth quarter against third quarter growth off GDP and its main components — consumption C, non-residential investment I, residential investment H, government spending G, exports X and imports M — as percentage changes at [...] More
Mixed Signals
January 28, 2010
The wire service headline observed that the Fed statement used the word recovery for the first time. Market behavior suggests a darker and more complex landscape. In less than six full trading sessions since closing at 10,725 on January 19, the Dow has dropped 6.0%, more than its 3.6% drop in the an equivalent interval [...] More
The Week of December 28 – January 1st
December 28, 2009
The market’s main inspiration a week ago was that the inverse relationship between the dollar and equities had broken down, as each were doing well. Since the close on December 21st a week ago, the dollar on balance depreciated 1.8% against the Canadian dollar, 1.1% against the Swiss franc, 0.8% against the euro, 0.7%, and [...] More
