U.S. GDP

Awaiting Jay Powell’s Speech

November 28, 2018

Fed Chairman Powell delivers a speech before the economic club of NY later today. Such is attracting evenĀ  more interest than might be expected because President Trump has just escalated his criticism of Powell, calling him a bigger problem than China. In other news today, U.S. GDP growth last quarter was confirmed at 3.5%, the […] More

U.S. GDP Report Deconstructed

October 26, 2018

Good News: Real GDP expanded by a somewhat greater-than-expected 3.5% between 2Q and 3Q, expressed at an annualized rate (SAAR). The two-quarter pace of 3.8% was the fastest since the middle two quarters of 2014, when a 5.0% pace was achieved. On-year growth of 3.0% was the most in 13 quarters and just 0.8 percentage […] More

Fresh Wave of Risk Aversion

October 26, 2018

Investors will get their first peak at U.S. third-quarter GDP in less than an hour. Growth likely decelerated from the 4.2% pace in the second quarter but still probably managed to be at 3.0% or a bit above. But markets are reacting most keenly to the Federal Reserve officials’ disregard of President Trump’s criticism of […] More

All Eyes on the Senate Judiciary Committee

September 27, 2018

The testimonies of Kavanaugh and Blassey Ford start at 10:00 EDT (14:00 GMT). This has been a busy day already from a central banking and data release standpoint. The dollar overnight firmed by 0.7% against the Swiss franc, 0.6% relative to the Aussie dollar, 0.5% vis-a-vis the euro and loonie, 0.3% against the kiwi, 0.2% […] More

Some weak European and Japanese Data

August 29, 2018

French GDP growth slowed to a 0.2% per quarter rate in the first half of 2018 from 0.7% per quarter in the second half of 2017. In the second quarter alone, personal consumption contracted for the first time since the summer of 2016. Imports advanced five times faster than exports, and net foreign demand exerted […] More

Plenty of News to Focus Upon

April 27, 2018

The meeting between the presidents of South Korea and North Korea agreed to end their multi-decade war and to deescalate nuclear armament. Share prices in the Pacific Rim climbed 1.3% in New Zealand, 1.0% in Hong Kong, and 0.7% in Japan, South Korea, India and Australia. British GDP growth slowed more than forecast last quarter, […] More

Fresh Data to Consider

February 28, 2018

In addition to yesterday’s testimony by Fed Chairman Powell, which if anything raised the odds of more than three interest rate hikes in 2018, investors today have a slew of data releases on this final day of February to consider. Thursday’s data release calendar is very heavy as well. The Pacific Rim picked up the […] More

Sharp Rise in Long-Term Interest Rates

November 29, 2017

Ten-year sovereign debt yields this Wednesday have climbed nine basis points in the U.K. and five basis points in the United States and Germany. The 10-year Japanese JGB yield bucked the trend and has dipped a basis point to 0.02%. Janet Yellen, the outgoing Fed Chair, delivered her final major congressional testimony, asserting that economic […] More

A Somewhat Corrective Wednesday in the Market

August 30, 2017

The dollar recovered, sovereign debt yields rose and so have European and Asian equities overnight. The dollar climbed 0.4% against the euro, 0.3% versus the yen, 0.2% vis-a-vis the loonie, Swissy, and kiwi, and 0.1% relative to the Australian dollar. The dollar has dipped 0.1% versus the yuan and peso and is unchanged against sterling. […] More

Tough Session for Stocks and Dollar

July 28, 2017

Equities in the Pacific Rim dropped 1.7% in South Korea, 1.4% in Australia, 1.2% in New Zealand, 0.9% in Hong Kong, 0.8% in Singapore, 0.7% in Singapore and 0.6% in Japan. Stocks in Europe thus far are down 1.3% in France, 1.1% in Italy, 0.9% in Spain, 0.8% in the U.K., and 0.4% in Germany. […] More

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