Iwata

Sterling Exhibited a Heavy Tone

March 12, 2013

Sterling sank to a low of $1.4832, its weakest dollar level in about 2-1/2 years.  The trigger for today’s decline was the announced 1.2% plunge of British industrial production in January that erased December’s 1.1% advance and left production in November-January 0.9% below the August-October level.  Production in January was 2.9% weaker than a year […] 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

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