German current account

Dollar and Sovereign Debt Yields Firm… Commodity and Share Prices Lower

November 8, 2019

The dollar appreciated overnight by 0.6% against the kiwi, 0.3% versus the Australian dollar, 0.2% relative to the loonie, yuan, and peso, and 0.1% vis-a-vis the yen, euro, sterling and Swiss franc. The 10-year gilt and U.S. Treasury yields extended their rise by another three basis points. Comparable sovereign debt yields in Italy, Greece, Portugal […] More

Dollar and Yen Fell in Tandem

October 10, 2019

The dollar and yen dropped overnight by 0.6% against the New Zealand and Australian currencies, 0.5% relative to the euro, 0.3% versus the Swiss franc and peso, 0.2% relative to the loonie and sterling and 0.1% against the yuan. Ten-year U.S. Treasury and Japanese JGB yields are unchanged, whereas their German and British counterparts increased […] More

Tariff War

May 10, 2019

President Trump made good on his threat to lift tariffs on $200 billion of imports from China, and Beijing officials promise to answer in kind even as talks continue. Trump erroneously expects the U.S. economy to at worst react neutrally to an escalated tariff war, but that delusion only partly explains his likely motivation. The […] More

Global Stocks Down after Trump/Xi Meeting Scrapped

February 8, 2019

The revelation that President Trump will not be meeting with Chinese President Xi before March 1 dampened hopes for a trade deal, weighed on general concerns regarding global growth, and sent share prices down 2.0% in Japan, 1.2% in South Korea and India, 1.0% in Spain, and 0.9% in Germany. The Dow and S&P fell […] More

Today’s Menu: Trade Data and Talks, Central Bank Meetings, and a Continuing U.S. Government Shutdown

January 9, 2019

Equity markets continued to rally after U.S.-Sino lower-level trade talks extended to a third day. Although no details about possible progress were revealed, investors took the unexpected third day of negotiations as a good sign that the dispute can be settled by March and avert a re-escalation of mutual big tariffs by the two countries […] More

Dollar and Sovereign Debt Yields Rise, while Equities Slip Further

October 9, 2018

Markets remain risk averse today. The dollar appreciated 0.4% against the euro, 0.3% versus the loonie, peso and kiwi, 0.2% relative to the Swiss franc, Aussie dollar, and sterling, and 0.1% vis-a-vis the yen. Share prices fell 1.3% in Japan, 1.0% in Australia, 0.7% in New Zealand, 0.6% in Indonesia, and 0.5% in Singapore and […] More

Can’t Trust Mondays

July 9, 2018

Trade disputes haven’t been resolved, but global equities and emerging market currencies have risen with the second quarter earnings season now close at hand. Japan’s Nikkei closed 1.2% stronger, and share prices elsewhere in the Pacific Rim rose by 2.5% in China, 2.0% in Indonesia, 1.7% in Hong Kong, 1.2% in Singapore, 1.1% in Taiwan, […] More

Equity Market Volatility Picks Up

February 8, 2018

It’s been another difficult day for equities. Today’s session started fine enough, with gains of 1.0% in India, 0.5% in South Korea where the Winter Olympics are getting under way, and 0.4% in Hong Kong. These up-moves balanced declines of 0.4% in Japan and 1.4% in China where a considerably smaller trade surplus for January […] More

A Rebound in Sovereign Bond Yields but Softer Stocks and Dollar

November 9, 2017

The dollar fell 0.5% overnight against the yen, 0.3% versus the euro and Swiss franc and 0.1% relative to the loonie. The Australian dollar and sterling are unchanged, and the kiwi, yuan and peso dipped 0.1%. Share prices eased 0.7% in Taiwan, 0.3% in New Zealand and 0.2% in Japan. Equity losses today in Europe […] More

Chinese, Japanese and German Trade Figures Reported Plus Several Second Tier Other Releases

August 8, 2017

China’s $46.74 billion trade surplus in July was the widest since $51.35 billion last January. Japan recorded a JPY 935 billion current account surplus in June, 4.3% less than a year earlier, the the seasonally adjusted surplus rose 8.7% on month to JPY 1.523 trillion. The settlements trade surplus was 32% smaller than a year […] More

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