U.S. retail sales and industrial production
Lots More Data to Reflect Upon
February 15, 2024
Investors are getting a much better picture of growth and inflation trends late in 2023 and into 2024. China’s is the only major stock market to remain closed for the New Year holiday. Elsewhere in the Pacific Rim, Japan’s Nikkei closed 1.2% higher in spite of unexpected news that that economy had slipped into recession. […] More
Intensifying Equity Correction and Much Fresh Data to Absorb
January 17, 2024
The optimistic investor mood of late 2023 has evaporated. Hawkish central banker-speak has quelled hopes for an early start to the unwinding of tight monetary policy stances, and markets are also concerned about China’s economic performance, Former President Trump’s reelection prospects, and the risks of a full-blown multi-front war in the Middle East and rising […] More
Dollar Lifted by Signs of Stronger U.S. Growth than Assumed
February 15, 2023
The weighted DXY dollar index advanced 0.7% overnight. Gains range from 1.5% against the Aussie dollar and 1.3% versus sterling to 0.8% relative to the Japanese yen and Mexican peso, 0.6% against the euro and loonie, and 0.4% relative to the Chinese yuan and Swiss franc. U.S. stock futures are down 0.5-0.6%. Investors have abandoned […] More
Central Bank Interest Rate Hikes and U.S. Data Clobber Share and Bond Prices, But Dollar Soars
December 15, 2022
No fewer than eight central banks have hiked interest rates today: the European Central Bank, Bank of England, Swiss National Bank, Bangko Sentral ng Pilipinas, and Hong Kong and Macau Monetary Authorities all by 50 basis points and matching the Fed’s action yesterday; the Bank of Norway by 25 basis points; and the Central Bank […] More
Equities Down but Dollar Stronger as U.S. Retail Sales Take a Hit
August 17, 2021
Stock markets in the Pacific Rim on Tuesday fell by 2.0% in China, 1.7% in Hong Kong, 1.2% in Taiwan, and 0.9% in Australia, South Korea, and Singapore. Share prices thus far today in Europe are down 0.9% in Italy, o.7% in Spain, 0.4% in France and 0.2% in Germany. The key U.S. equity indices […] More
Spotlight on Central Banks, Fresh Data and, as Always, Covid
April 15, 2021
The uncertain delayed roll-out of the J&J one-shot Covid vaccine is creating consternation, especially in light of high rates of new cases in many places. The National Bank of Ukraine’s policy interest rate was raised a full percentage point to 7.5%. This was the second straight tightening and twice the size of the initial 50-basis […] More
Market’s Initial Reaction to American Rescue Plan Not Favorable
January 15, 2021
U.S. stock futures point to a decline of at least 0.5% at the open. Stock markets closed Friday with losses of 2.0% in South Korea, 1.1% in India, 0.9% in Indonesia, 0.8% in New Zealand, 0.6% in Taiwan and Japan. Equities are currently down about 1% in the U.K., Germany, France and Spain. The 10-year […] More
Much New Data for Investors to Digest
August 14, 2020
Today’s been one of those Friday’s with a significant body of economic data releases both from both a quantitative and qualitative standpoint. Prior to the U.S. contingent of releases, the dollar overnight had dropped 0.4% against sterling and 0.3% relative to sterling but risen by 0.2% against the Canadian and Australian dollars and 0.1% vis-a-vis […] More
Policy Support Overriding Covid-19 and Geopolitical Concerns at Least for Now
June 16, 2020
The weakness of stock markets early Monday dramatically reversed direction when the Federal Reserve announced an expansion of its corporate bond purchases. That turnaround extended overnight into trading in the Pacific Rim, where markets closed up 4.9% in Japan, 5.3% in South Korea, 3.9% in Australia, 2.4% in Hong Kong, 2.0% in Singapore, 1.8% in […] More
Fractious Politics Magnifying Fear Over the Covid-19 Pandemic
May 15, 2020
The Trump Administration’s harsh rhetoric against China has been elevated to trade sanctions. Semiconductor shipments to the Chinese firm Huawei are being prevented. In another disturbing political development, British Prime Minister Johnson reaffirmed and with more force that there will be no post-Brexit negotiations with the EU beyond the end of this year. In 2020, […] More
