French GDP

Further Decline in Sovereign Debt Yields and Share Prices

May 29, 2019

The ten-year U.S. Treasury yield dropped another 3 basis points, and sovereign debt yields of similar maturity slid a basis point overnight in Germany, the U.K., and Japan as well. Investors are bracing for slower global growth as trade protectionism intensifies. Share prices fell by a bit more than 1.0% in Japan, South Korea, France, […] More

No Deal Between U.S. and North Korea and a Whole Lot of Data Released

February 28, 2019

The summit between U.S. President Trump and North Korean President Kim ended prematurely without an agreement. Share prices in Asia lost 1.8% in South Korea, 1.3% in Indonesia, 1.2% in Singapore, 0.9% in Hong Kong, 0.8% in Japan but only 0.4% in China. In Europe, there’s been scant net movement in the German Dax or […] More

Brexit Mess, An FOMC Announcement, and Some Weak Data Reports

January 30, 2019

Last night’s British parliamentary votes produced an ill-advised win for Prime Minister May, rejecting a no-deal option or a second referendum in favor of authorization for the prime minister to attempt a renegotiation of parts of her agreement with the rest of the EU. Those governments have repeatedly ruled out renegotiation, so a no-deal Brexit […] More

Mixed U.S. Data, Lots of Other Data, and Ever-present Worries about The Mueller Investigation and U.S.-Sino Trade Strains

November 29, 2018

U.S. personal income rose 0.5% last month, a 7-month high. Personal consumption expenditures went up even more robustly, 0.6%, and the core PCE price deflator measure of U.S. inflation settled back 0.1 percentage point to 1.8%. On the other hand, U.S. pending home sales sank 2.6% to a near four-year low and recorded an on-year […] More

Down Goes the British Pound

November 15, 2018

With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More

Some weak European and Japanese Data

August 29, 2018

French GDP growth slowed to a 0.2% per quarter rate in the first half of 2018 from 0.7% per quarter in the second half of 2017. In the second quarter alone, personal consumption contracted for the first time since the summer of 2016. Imports advanced five times faster than exports, and net foreign demand exerted […] More

Dollar, U.S. Stocks, and Treasury Yields Little Changed After Strong U.S. GDP Report

July 27, 2018

U.S. GDP expanded 4.1% last quarter at a seasonally adjusted annualized rate. That was the fastest quarterly pace since the third quarter of 2014, but analysts had anticipated such a figure. Personal consumption, non-residential investment and government spending climbed 4.0%, 7.3% and 2.1%, respectively. Net foreign demand augmented the growth rate by 1.1 percentage points […] More

Stocks Up… Dollar and Yen Down

March 26, 2018

Equities recouped some of last week’s heavy losses in early trading. Share prices closed higher by 0.7% in Japan, 1.4% in India, and 0.8% in Hong Kong and South Korea. Equities in Europe so far show gains of 1.0% in Switzerland, 0.7% in Germany, 0.6% in Spain, 0.5% in the U.K. and 0.4% in France. […] More

Only Marginal Net Dollar Movement on a Newsworthy Friday

December 22, 2017

The approaching Christmas holiday, which has some markets closing early today, appears to have muted changes in the dollar, which has moved up 0.3% against the loonie, 0.2% relative to the euro, Swissie, and peso, and 0.1% vis-a-vis the yen and kiwi while slipping 0.2% relative to the Aussie dollar, 0.1% against the yuan¬† and […] More

The Wrath of Nature and North Korea Sends Markets into a Tizzy

August 29, 2017

So much for North Korean restraint in the face of Trump’s threat of “fire and fury” against that regime. North Korea fired a missile last night that sailed over Japan, seemingly calling the U.S. president’s bluff to prove how tough he can be. Meanwhile, Harvey continues to batter the Texas coast and is forecast to […] More

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