Peoples Bank of China
A $30 Billion Rescue Package for First Republic Alleviates But Doesn’t End Investor Uneasiness about the Banking System
March 17, 2023
Helped by news that 11 large U.S. banks had put together $30 billion to avoid the failure of First Republic, equities in the Pacific Rim climbed Friday by 1.2% in Japan and New Zealand, 1.6% in Hong Kong, 1.5% in Taiwan, 1.7% in Indonesia, 0.8% in South Korea, 0.7% in China and 0.6% in India. […] More
Indonesia and China
October 20, 2022
Bank Indonesia’s seven-day reverse repo rate was lifted by an expected 50 basis points to a 32-month high of 4.75%. There had been two earlier hikes this year of 25 basis points in August and 50 bps in September. At 4.75%, the rate is just 25 basis points below its pre-pandemic level of 5.0%. Indonesian […] More
Large Jump in European Long-Term Interest Rates
September 20, 2022
Today is the Astart of the FOMC’s sixth scheduled policy review in 2022. A third straight 75-basis point hike to a range of 3.0-3.25% is anticipated, with the announcement due Wednesday at 14:00 EDT (18:00 GMT). Meantime, officials at the Swedish Riksbank today exceeded street expectations with a policy interest rate hike of a full […] More
Tightening Monetary Policies Continue to Lift the Dollar but Depress Share Prices
August 22, 2022
Financial markets are in a risk-averse mood ahead of the annual Jackson Hole Symposium that begins at the end of this week. U.S. stock futures were down 1.0-1.5% shortly before the opening bell. European stock markets had sunk so far today by 2.1% in Germany, 1.7% in Italy, 1.6% in France and 1.0% in Spain. […] More
Rising Inflation Dampening the Mood of Consumers Around the World
May 20, 2022
Amid bear markets, investors periodically test the waters in search of good values. Today has been one such day. The week will end with huge net share price declines, but on this Friday equities closed up 3.0% in Hong Kong, 2.9% in India, 1.8% in South Korea, 1.6% in China and Singapore, 1.4% in Indonesia […] More
Good Friday 2022 Brings Many Market Closures and a Focus on Russia and China
April 15, 2022
A great many markets will not be trading today, including those in the U.K., Germany, France, Italy, Spain, Switzerland, Australia, New Zealand, Hong Kong, Singapore, India, Canada, and the United States. Some U.S. economic data are being reported later, however, such as industrial production, capacity utilization, the Empire State monthly manufacturing survey, and Treasury-compiled international […] More
Second Chinese Interest Rate Cut This Week
January 20, 2022
Officials at the People’s Bank of China, who on Monday of this week had cut their 1-year and 1-week interest rates by five and 10 basis points respectively, doubled down today with a reduction of another ten basis points in the 1-year loan prime rate to 3.70% as well as a 5-basis point cut of […] More
Dollar Little Changed on Day that Saw Many Central Bank Meetings and Thick Menu of Released Data
January 20, 2022
The weighted dollar edged up by a marginal 0.1% overnight. It gained 0.1% against the euro and Swiss franc but is unchanged against the yen and sterling and down 0.1% versus the Canadian dollar. Stock market action in the Pacific Rim was widely varied, with Japan Nikkei and Hong Kong’s Hang Seng indices closing 1.1% […] More
A Turn for the Worse on Several Fronts Sends Equities Sharply Lower Around the World
December 20, 2021
The highly infectious Omicron Variant of Covid 19 is threatening to overwhelm hospitals and forcing authorities in many places to reimpose tighter restrictions against social gathering. Pfizer’s Covid vaccine trial on kids aged 2-5 did not result in an immunity rise as had been expected, which creates a childcare crisis and will likely prevent many […] More
Stocks Attempt to Bounce but Outlook Uncertain
July 9, 2021
Following Thursday’s wave of risk aversion, equities and sovereign debt yields rose in early Friday trading, and the dollar edged lower. Several Chinese and British data were release. The People’s Bank of China cut reserve requirements by 50 basis points, which is projected to release about one trillion yuan of extra liquidity and hopefully buttress […] More
