Japanese all-industry index

Dollar Broadly Stronger… Gold and Global Bonds Down

April 25, 2018

The Mexican peso extended its recent swoon, falling 1.0% against the dollar and moving past the 19 per USD threshold. U.S./Mexican relations appear headed for another dive, as Lopez Obrador, the former Mexico City mayor and a populist, retained a huge lead in presidential election polls. The election is just over two months away. It’s […] More

Trade War Fear Takes Center Stage

March 22, 2018

While Fed Chairman Jay Powell downplayed the risk to growth from trade restraints at least insofar as any influence on U.S. monetary policy is concerned, global financial markets are taking the danger of a trade war very seriously, particularly as President Trump seems poised to slap $50 billion of tariffs on imported Chinese goods. There’s […] More

Trump Grabs Spotlight… Japan Also in the News

January 23, 2018

President Trump is on a roll. Having secured a tax cut with benefits skewed to the rich and then trapping congressional democrats in a political snake pit over immigration, he’s turned his sight on the biggest campaign promise of all: so-called fair trade. A 30% tariff on U.S. imports of foreign-made solar equipment threatens to […] More

Rise in Sovereign Debt Yields Extended

December 20, 2017

The Senate approved the tax bill without any support from the Democrats by a vote of 51-48. All that remains is one final assured vote today in the House of Representatives and President Trump’s signature on the bill. This legislation is projected to boost economic growth in 2018 but also will raise federal deficit spending […] More

BOJ and Fed Leadership Stake Out Contrasting Monetary Policy Stances

September 21, 2017

FOMC officials still expect to hike the fed funds rate one more time in 2017 and three times next year. The current range of 1-1.25% was not changed, but balance sheet reduction begins next month. Lower-than-expected inflation has been a mystery, but the economy and U.S. labor markets are behaving well enough not to deter […] More

Euro Strengthens With ECB in the Spotlight

July 20, 2017

The euro advanced 0.6% against the dollar and is not far beneath $1.16. The dollar otherwise climbed 0.4% relative to sterling, 0.3% versus the yen and Aussie dollar, 0.2% relative to the yuan and 0.1% versus the peso. The dollar dipped 0.1% against the Swissy and loonie. WTI crude oil rose 0.4% to $47.31 per […] More

Better European Data, More Leaked Allegations on Trump, and a Terrorist Bomb Attack

May 23, 2017

The German business climate index compiled by the IFO Economic Institute increased 1.6 points in May to the highest level since German unification, a reading of 114.6. Current conditions went up 1.9 points, and expectations climbed 1.3 points in the latest month, prompting IFO officials to call the business mood euphoric and the pace of […] More

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

css.php