U.S. election
Markets Unfazed So Far by Likelihood of a Big Republican Win in Today’s U.S. Midterm Election
November 8, 2022
The dollar strengthened overnight by 0.3% on a weighted basis. It went up 0.2% versus the Aussie dollar 0.3% against the euro, Swiss franc, Chinese yuan, New Zealand dollar and sterling and rose 0.7% relative to the Canadian dollar. There was also a 0.1% dip against the Japanese yen. The ten-year Treasury yield remains unchanged […] More
After Political Setback for the Democrats, Investor Attention Turns to Fed and Global Economic Trends
November 3, 2021
The FOMC decision will be announced at 14:00 EDT (18:oo GMT) and followed by Powell’s press conference 30 minutes later. A tapering of Fed net monthly asset purchases currently totaling $80 billion of Treasury securities and $40 billion of mortgage-backed securities is widely expected. Running on an anti-vaccination and anti-progressive cultural message, U.S. Republicans in […] More
U.S. Election Day Has Come, and Stocks Are Rallying Around the World
November 3, 2020
There is a mood of trepidation this Election Day. Record numbers were cast early, and the choice is considered the starkest in living memory. Fears center on the possibility of a contested outcome and ensuing violence, with interference from cyber meddling and other glitches in counting the results. Despite widespread agreement that America is going […] More
Dollar Little Changed But Equities Rebound on Day Before U.S. Election
November 2, 2020
U.S. stock futures point to a rise of more than 1.0% at today’s open. Overseas, share prices closed up 1.5% in Hong Kong and South Korea and by 1.4% in Japan, and key European bourses currently show rises of 1.8% in France and Italy, 1.7% in Germany, 1.4% in Switzerland, 1.3% in Spain and 1.1% […] More
Intensifying Pandemic and Coming U.S. Election Rattle Investor Confidence
October 28, 2020
The world has experienced another very bad 24 hours with the coronavirus. Globally reported cases have risen by almost a half million people, and and the United States suffered over a 1000 more Covid-related deaths. For America, the first wave of the epidemic never really ended, whereas Europe is clearly into a second wave, and […] More
Days of Wonder
November 1, 2016
Tomorrow’s FOMC statement is expected to prepare markets for a December rate hike. Ten-year sovereign debt yields are up 5 basis points in the U.S., 4 bps in Britain, and 3 bps in Germany. In Japan, where the BOJ now targets the 10-year JGB, that yield remained unchanged overnight. The U.S. election one week from […] More
Currency Determination at the Intersection of Economics and Politics
July 14, 2016
Contrary to popular opinion, politics and economics do not operate in separate universes. Politics is the business governing who gets to make the rules for all other business activity and how the laws will be enforced and interpreted. Politics determines policy, and abrupt changes in policy and policy communication influence economic performance profoundly. That’s why […] More
Judgement Day in America
November 6, 2012
Today’s U.S. presidential election outcome is generally considered too close to call. Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further. The Aussie dollar has climbed 0.7% against […] More
Anxiety Up ahead of U.S. Election and Greek Parliamentary Vote on Bailout
November 5, 2012
Share prices in Europe have slumped 1.3% in Spain, 1.1% in Italy, 0.8% in France, 0.5% in Britain and 0.4% in Germany. Equities in the Pacific Rim earlier closed down 0.8% in Indonesia, 0.6% in South Korea, 0.5% in Japan and Hong Kong, 0.4% in Taiwan, 0.3% in Singapore, and 0.2% in China and New […] More
Scant Dollar Reaction to Election as Investors Await FOMC Statement
November 3, 2010
The dollar is off 0.1% against the euro, unchanged relative to the Swissy, and up 0.2% versus the yen. Against commodity-sensitive currencies, the greenback firmed 0.1% against the Aussie dollar but eased 0.2% against the Canadian dollar and by 0.4% relative to the kiwi. The dollar lost 0.7% against sterling and 0.1% against the yuan. […] More
