German unemployment
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
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
More Evidence That European Growth Is Slowing
October 30, 2018
The first reported estimate of third-quarter GDP growth in the euro area was a lower-than-forecast 0.2% quarter-on-quarter uptick, which is only half as much as the pace in the first two quarters of this year. On-year growth slowed to 1.7% from 2.2% in the second quarter and 2.8% in the summer quarter of 2017. Italian […] More
Quarter-End Rush of Data, Italian Fiscal Concerns, and U.S. Supreme Court Drama
September 28, 2018
The new populist government of Five Star in Italy passed a stimulative budget, with a deficit equal to 2.4% of GDP and well above what Italy’s Euroland colleagues wanted to see. In response, the country’s 10-year sovereign debt yield leaped 33 basis points to 3.22%, while the comparable Greek sovereign debt yield went up 16 […] More
Euro Weakens and Equities Remain on Tenterhooks
January 5, 2016
The euro weakened overnight by 0.8% against the dollar and 1.2% relative to the yen. The U.S. currency has otherwise appreciated 0.7% versus the Swiss franc, 0.5% vis-a-vis the kiwi and 0.3% against the Aussie dollar and sterling, but it shows a 0.3% relative to the yuan and no change against the loonie. Stocks in […] More
Weaker Japanese and Chinese Share Prices
March 28, 2013
Equities slumped 3.3% in China on fear of more property market curbs. Weakness was concentrated in financials. The decline occurred in spite of data showing a strong 17.2% on-year advance in Chinese corporate earnings. The Japanese Nikkei fell 1.3% on the next to last day before the end of the fiscal year. Bank of Japan […] More
Improved Market Psychology
September 27, 2012
Share prices, commodities, commodity-sensitive currencies, and sovereign debt yields are higher as tomorrow’s business calendar quarter-end approaches. Stocks in Europe have thus far recovered 0.9% in France and Italy, 0.6% in Spain, 0.5% in Germany, and 0.4% in Great Britain. A key impetus for this turnaround came from a bigger-than-anticipated liquidity injection by the People’s […] More
Share Prices Sinking on a Thursday Crammed with New Information
March 29, 2012
Equities fell 1.3% in China and Hong Kong, 1.5% in Vietnam, 2.1% in Taiwan, 0.9% in South Korea, 0.7% in Japan and 0.4% in India. The German Dax, Paris Cac and British Ftse have already lost 1.1%, 1.0%, and 0.9% today. Continuing the motif of greater risk aversion, the yen has advanced 0.8% against a […] More
Post-FOMC Drop of Dollar and Rise of Gold Extended
April 28, 2011
Gold prices advanced 1.0% overnight to $1531.70 per ounce and are 5.4% above the close of $1453.10 of April 12th. Oil prices are 0.2% lower at $112.60 per barrel. The dollar has fallen 0.5% against the yen, 0.3% relative to the Australian dollar, Canadian dollar, and euro, and 0.2% against sterling, Swiss franc and the […] More
