Japanese GDP

Less Risk Aversion Now but Respite Might Not Last

August 14, 2017

North Korea hasn’t backed down rhetorically, and U.S. President Trump has every reason to keep foreign crisis distraction on the front-burner in light of the developments in Virginia. Nonetheless, the new week kicked off with last week’s haven-favored assets trimming their gains. Investors have shown temporary faith that a nuclear war will be averted one […] More

A Day Potentially Fraught with Major Developments

June 8, 2017

First up is ECB President Mario Draghi’s press conference. The Governing Council didn’t change interest rates. No surprise there. But new macro-forecasts will be unveiled, and there are risks that the growth outlook will be made brighter but also that projected inflation may be lowered. Next comes former FBI Director Comey’s testimony before the Senate […] More

Investors Remain Very Risk Averse and Driven by Politics, Not Data

May 18, 2017

Sovereign debt yields continue to fall. In futures, the 10-year Treasury yield of 2.19% is down four more basis points and shows a 22-basis point plunge since the May 10th close. Comparable German bund and British gilt yields fell six and 3 basis points thus far today. The Japanese JGB is unchanged after data showing […] More

Spotlight in Coming Week to Fall on the Fed

February 13, 2017

Fed Chair Janet Yellen’s semi-annual Humphrey-Hawkins testimony before the Senate Banking Committee on Tuesday and House Financial Services Committee on Wednesday could prove contentious, with Republicans in firm control of the government, commodity-fueled price pressure reawakening in the U.S. and around the world, and a severe critic of Fed accommodation, David Malpass, having just been […] More

Rotation in Investment Strategies Extended

November 14, 2016

The dollar continued to climb, gaining overnight by 1.0% against the yen, 0.9% versus the Swiss franc, 0.8% relative to the euro, 0.7% vis-a-vis sterling, 0.5% against the kiwi, 0.3% versus the Mexican peso and 0.1% against the loonie. Since the close on November 8, the day of the U.S. election, the dollar has advanced […] More

Investor Hope Sustained into New Week

August 15, 2016

Like last week, markets continue to interpret weak economic data in the positive light that central banks and fiscal authorities will respond with aggressive macroeconomic stimulus that keeps long term interest rates low and commodities and equities buoyant. The major data report overnight was preliminary Japanese GDP in the second quarter, which rose in volume […] More

Japanese GDP Growth in 4Q Beat Expectations. Ezone Inflation Negative. Awaiting FOMC Minutes

May 18, 2016

The dollar strengthened overnight by 0.7% against the Australian dollar, 0.5% relative to the kiwi and loonie, 0.4% vis-a-vis the euro, 0.3% against the yen 0.2% versus the yuan and 0.1% relative to sterling. Gold lost 0.3% to $1,273.30 per ounce, and copper fell even more sharply.  West Texas Intermediate crude oil firmed 0.3% to […] More

Dismal Economic Data Depressed Sovereign Debt Yields

March 8, 2016

Ten-year sovereign debt yields fell overnight by ten basis points in the U.K., four bps in Japan, three bps in Germany, and six bps in U.S. Treasury futures.  The 10-year Japanese JGB touched a record low of -0.10%. A second estimate of fourth-quarter real GDP was released for both the eurozone and Japan.  Euroland’s growth […] More

Several Points of Keen Interest Despite U.S. Presidents Day Market Closure

February 15, 2016

A 1.2% increase in the Chinese yuan against the dollar was its biggest daily advance since a 2% revaluation engineered in July 2005. People’s Bank of China Governor Zhou made upbeat remarks about the yuan and China’s economy and balance of payments. The cause of U.S. Supreme Court Justice Scalia’s death was ruled a heart […] More

Data Surprises Prompt Risk-Off Action

December 8, 2015

Share prices plunged 1.9% in China, 1.4% in Hong Kong, 1.3% in Taiwan and Indonesia, 1.0% in Japan and 0.9% in Australia. ┬áThe sour mood extended into Europe, where stocks so far have lost 4.3% in Greece, 2.2% in Italy, 2.1% in Spain, 1.6% in France, 1.7% in Germany and 0.6% in the United Kingdom. […] More

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