Oil and Stocks Firmer

July 26, 2017

The Federal Open Market Committee completes its two-day policy review and will announce its findings and plans at 14:00 EDT (18:00 GMT). See preview. Second-quarter corporate earnings have been mostly better than expected and have provided a supportive foundation for equities. 10-year sovereign debt yields are down three basis points in the U.K., 2 bps […] More

Nato and Opec Meetings Attracting Attention, as Does Weak British GDP Report

May 25, 2017

A row broke out over U.S. leaking of key intelligence from the Manchester bombing investigation between the May and Trump governments just prior to today’s Nato meeting in Brussels. Prime Minister May will speak to President Trump about U.S. leaks, and Britain reportedly has stopped sharing information with U.S. on the matter. West Texas Intermediate crude […] More

Rising Expectations of a Fed Rate Hike before Yearend

August 26, 2016

Today’s focus is on Janet Yellen’s address in Wyoming this morning. Ahead of that speech, markets are pricing more than even odds of a hike in the federal funds rate at one of the three remaining FOMC meetings this year and up to a 30% probability officials act at the September meeting. The dollar lost […] More

FOMC Day and an Australian Data Surprise

April 27, 2016

The Federal Open Market Committee will release a statement at 14:00 EDT (18:00 GMT) on the results of its third policy meeting of 2016.  The federal funds rate is not expected to change, and attention will be focused on comments regarding U.S. economic conditions and likely prospects for clues to the timing of the next […] More

Several Themes Affecting Markets

April 28, 2015

Most European stock markets are lower with a notable exception of Greece.  The Greek debt negotiating team was changed, but Prime Minister Tsipras made remarks that failed to signal enhanced prospects for an agreement.  He implied that any deal involving more austerity may be subject to approval by a referendum of Greek voters, and he […] More

Week Ends with a BOJ Meeting, U.S. and U.K. GDP Revisions, and an EU Banking Plan in which Few Trust

December 20, 2013

The Bank of Japan left its quantitative monetary policy and economic assessment unchanged.  Governor Kuroda believes 2% inflation will be reached by the spring of 2015 despite the coming sales tax increase. U.S. third-quarter GDP was revised up a half percentage point to 4.1% at an annualized quarterly pace, the fastest rate since the first […] More

Revised German and British 2Q GDP Data Released

August 23, 2013

In a pretty nondescript summer Friday, the main development has been an upward revision of U.K. GDP growth of a 0.1 percentage point.  Such went up by 0.7% between the first and second quarters and was 1.5% greater than in the second quarter of 2012.  Quarter-over-quarter gains amounted to 0.4% in personal consumption, 0.9% in […] More

Across-the-Board Declines in the Dollar

April 25, 2013

The dollar has fallen 1.1% against sterling, 0.8% versus the kiwi, 0.5% relative to the yen,  0.4% against the euro and Australian dollar, 0.3% vis-a-vis the loonie and Swiss franc and 0.1% against the Chinese yuan. Holiday closures today are in Australia and New Zealand for Anzac Day, Italy for Liberation Day, and Portugal for […] More

Concerns Continue about Advanced Economies

May 25, 2011

The dollar is mixed, and stocks are trading precariously.  The dollar rose 0.6% against the Australian dollar and by 0.2% relative to the yen, Canadian dollar, euro, and kiwi.  The greenback is down by 0.4% against the Swiss franc, 0.3% versus sterling and 0.1% against the yuan. Equities fell 1.3% in South Korea, 1.2% in […] More

Better Market Tone as Middle East Fear Ebbs

February 25, 2011

Stocks recovered 1.8% in Hong Kong and Singapore, 1.7% in Sri Lanka, 0.9% in Thailand, 0.7% in Japan, 0.6% in Australia and 0.4% in India.  In Europe, equities climbed 1.2% in Paris, 0.5% in Frankfurt, and 0.2% in London. Ten-year sovereign debt yields rose three basis points in Germany, two bps in Britain and a […] More