Oil
July in Figures
July 31, 2017
On the final day of July, the Dow hit a record high, and the dollar touched its weakest level against the euro since January 14, 2015 and softest yen value since mid-June. July was a difficult month for the U.S. presidency, even by Trump standards. Also, the future path of Fed policy became less certain, […] More
June and the Second Quarter in Figures
July 1, 2017
As in the previous quarter, a slide in the price of oil was a key development during the second quarter, and half of this move occurred in June. Gold also lost value both in June and the whole quarter. A second theme of the period was a shifting view about future monetary policies in the […] More
Little Change in the Dollar as Oil Stays Low
June 22, 2017
The U.S. dollar has lost 0.4% against the kiwi, 0.2% versus the peso and loonie and 0.1% relative to the yen but risen 0.2% against the Australian dollar and 0.1% vis-a-vis the euro, Swiss franc and yuan. Although 0.6% higher overnight, WTI crude oil remains very depressed at $42.79 per barrel, 21.4% lower than its […] More
May in Figures
June 1, 2017
U.S. and European sovereign debt yields fell during May. Short-term European interest rates also fell in contrast to a rise of the 3-month U.S. deposit rate. In Japan, rates rose at the long end but fell in short maturities. Stock markets improved in all markets examined here except Canada’s. The dollar climbed against sterling and […] More
Solidarity of Oil Producers Lifts Oil Prices by More Than 4.0%
December 12, 2016
The price of West Texas Intermediate crude oil leaped 4.2% to $53.68 per barrel. At a meeting on Saturday, the Saudis showed a readiness to cut production even more than agreed previously, and non-cartel producers are supporting the effort to reduce global output and lift the price of oil. This oil news has reinforced the […] More
October in Figures
November 1, 2016
The dollar rose in October especially versus sterling. Long-term interest rates increased everywhere, not just in the U.S. where monetary policy tightening is expected. The 10-year JGB remained below its target of zero, however. Short-term interest rates edged up marginally. Equities in October were mixed, and both the price of gold and oil slipped about […] More
August in Figures
September 1, 2016
Sovereign debt yields rose in August in most cases, Canada and Britain not included. The dollar and kiwi strengthened slightly. Equities held on to July gains and extended such in several cases. Oil partly recovered, and gold declined. 10-Yr Yield 08/31/16 07/29/16 Chg v End-Jul U.S. 1.57% 1.45% +12 Basis Points Germany -0.07% -0.12% +5 […] More
July in Figures
July 29, 2016
In July, the price of West Texas Intermediate oil plunged more than 10%, the 10-year British gilt yield dived 75 basis points, share prices around the world rallied strongly, and the dollar slipped moderately against a broad spectrum of other currencies. 10-Yr Yield 06/30/16 07/29/16 Chg v End-2Q U.S. 1.48% 1.45% -3 Basis Points Germany […] More
June and the Second Quarter in Figures
June 30, 2016
June and the second quarter were a volatile time in financial markets with mixed results, a few surprises and some odd juxtapositions. The table below shows end-June levels and their comparisons to end-May and end-second quarter levels. A unifying theme in both the last month and the spring quarter involved deep declines in sovereign debt […] More
Covert Currency War Games
May 3, 2016
Even with U.S. monetary stimulus being throttled back and other central banks pressing harder on the stimulus pedal, the pace of policy change thus far and in the future will be too gradual to make a huge difference in a direct way through their influence on short- and long-term interest rate differentials. The cutting edge […] More
