Japanese all-industry index

Somewhat Softer Dollar on This First Day of Winter

December 21, 2016

The dollar has weakened 0.7% against the euro, 0.4% relative to the Swiss franc, 0.3% vis-a-vis the yen, 0.2% versus sterling, and 0.1% against the kiwi and yuan. U.S. stocks are a tad lower. The German Dax is flat. Stocks fell in other European centers and lost 1.0% in Indonesia, 0.3% in China and Japan, […] More

Oil Price Rally Continued

October 19, 2016

West Texas Intermediate crude oil, which traded at $43.30 per barrel just a month ago, rose another 1.5% overnight to $51.02 per barrel. Investors are reasonably confident that OPEC will find the discipline with Russia to reach an accord limiting production. Comex gold advanced 0.7% to $1,271.50 per troy ounce, and the dollar is modestly […] More

Other Realities Like Soft Growth Intrude

September 23, 2016

Markets had by and large enjoyed a good week through Thursday, buoyed by the dovish decisions of the Fed and Bank of Japan. Compared to closing levels last Friday, 10-year sovereign debt yields are down eight basis points in the United States, 9 bps in Germany, and 16 bps in Great Britain. Stocks had rallied. […] More

Dollar Up But Stocks Lower

August 19, 2016

The dollar rose overnight by 0.9% against the Aussie dollar, 0.4% relative to the loonie, yuan and sterling, 0.3% versus the yen and Swiss franc and 0.2% against the kiwi and euro. In European stock market action, share prices have dropped 2.0% in Italy, 1.2% in Spain, 1.0% in Greece, 0.8% in Switzerland, 0.7% in […] More

Friday Down-Note to End an Up Week

February 19, 2016

Stock markets and sovereign debt yields overnight followed oil lower. West Texas Intermediate crude oil fell 1.8% to $30.23 per barrel. Ten-year British gilts, German bunds, and Japanese JGB yields dropped by six, two and one basis points. The Japanese Nikkei-225 slumped 1.4%, slipping back under the 16K level. Elsewhere in the Pacific Basin, share […] More

Signals from the Fed, Bank of Japan and ECB

November 19, 2015

FOMC minutes from the October meeting released Wednesday afternoon showed most members inclined to hike the federal funds rate in December but also underscored an intention to normalize policy gradually thereafter and spreading doubts that the peak can lie much above 2%. A five hour 20 minute meeting of the Bank of Japan Board over […] More

After FOMC Minutes, a Bunch of New Data Releases and ECB Minutes

May 21, 2015

FOMC minutes released late yesterday suggest that a June rate hike is possible but improbable. Today’s release of ECB Governing Council minutes, known formally as the “ECB Account,” reflect determination to complete the entire program of quantitative easing scheduled to run through September 2016, satisfaction with how QE is working thus far, but continuing frustration […] More

Difficult Talks with Greece as Time Begins to Run Out

April 24, 2015

The spotlight today is on a meeting of eurozone finance ministers, trying to secure a debt agreement with Greece.  The tentative deal back in February was contingent upon Greece undertaking reforms but the end of April.  Well here we are, with scant reforms, and Greek officials wanting aid first and then reforms to follow, but […] More

Weaker Yen and European Stocks, Stronger Asian Equities, and Firmer Oil

December 19, 2014

A volatile week in the marketplace has seen more swings on Friday, but dollar movement against the majors has been less than 0.3% except for a 0.4% drop in the yen. Share prices in the Pacific Basin advanced by 2.5% in Australia, 2.4% in Japan, 1.7% in South Korea, 1.3% in Hong Kong, 1.1% in […] More

Senate Vote Fall Short of 60 Needed to Approve Keystone XL Oil Pipeline

November 19, 2014

The dollar advanced overnight by 1.0% against the Australian dollar, 0.8% versus the kiwi, 0.7% relative to the yen, and 0.4% vis-a-vis the loonie.  The dollar is unchanged against the yuan and down 0.2% relative to sterling and 0.1% against the euro and Swissie. Equities in the Pacific Rim rose 1.2% in Taiwan, 0.6% in […] More

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