July 1, 2026
The optimistic rise of equities and bond prices at the end of the last quarter gave way to profit-taking as the new one kicked off. Equity markets in the Pacific Rim closed down 2.0% in South Korea and 0.6% in Australia and Hong Kong. Major European stock markets and futures trading of the four major […] Read Article
June 26, 2026
Central Banks: The Bank of Japan’s quarterly Tankan survey of corporate perceptions and expectations will be published as well as minutes from the last Reserve Bank of Australia Board meeting. Interest rate policy will be reviewed at central banks in Colombia and Jamaica. Central bankers speaking publicly in the period include Barkin and Williams of […] Read Article
June 19, 2026
The Central Bank of Russia‘s policy interest rate was sliced by just 25 basis points to 14.25%. The street consensus forecast had been greater since there had been a trio of 50-basis point declines earlier in 2026 preceded by five percentage points of cuts done in the final seven months of 2025. However, monetary officials […] Read Article
June 30, 2026
Around the world, the monetary policy pendulum swung more decisively in the direction of restraint. Among the five central banks the table that appears in this monthly feature of Currency Thoughts, the Bank of Japan and European Central Bank each raised their key interest rate by 25 basis points in June, and none of the […] Read Article
June 30, 2026
Many data have been released on this final day of June and the second quarter of 2026. In other developments, U.S. and Iranian peace negotiators are in Qatar to enter a new and delicate stage of talks, with each side interpreting the results of prior talks differently and military skirmishes still happening, and the other […] More
June 29, 2026
(133) Contrary to earlier this year when the dollar benefited from Middle East tensions and uncertainty, that linkage has lately broken down. The price of West Texas Intermediate crude oil bounced back above the $70 per barrel threshold, but America’s currency has eased 0.3% against sterling, 0.2% relative to the euro, Swiss franc, kiwi and […] More
June 26, 2026
Tech stocks were spooked today by further evidence that AI development is costing as well as reports that OpenAI’s IPO may be delayed until next year. In futures trading, All four major U.S. equity indices are off, led by a 1.2% drop in the Nasdaq. Asian stock markets plunged 4.2% in Japan, 3.8% in South […] More
June 25, 2026
A rash of important U.S. economic data will be reported shortly, including revised GDP, personal income and spending, durable goods orders, the Chicago Fed National Activity Index and weekly jobless insurance claims. Meanwhile, mounting optimism fed by reported progress in the peace talks between Iran and the United States and regarding greater shipping traffic through […] More
June 22, 2026
(134) The price of West Texas Intermediate crude oil fell 1.1% further overnight to $74.77 per barrel. Iranian and U.S. negotiators reportedly have worked out a plan for conducting their talks over the coming 60 days. British Prime Minister Starmer made it officials that he will be stepping down as leader of the Labour Party. […] More
June 20, 2026
Central Banks: Interest rates to be reviewed in Hungary, Thailand, China and Mexico. Williams and Goolsbee of the Federal Reserve, as weel as Breeden, Taylor and Dhingra of the Bank of England and Hauser of the Reserve Bank of Australia have speaking engagements. A summary of the latest Bank of Japan Board meeting will get […] More
June 19, 2026
In the United States, neither banks nor stock market trading will be open on this federal holiday of Juneteenth, commemorating the end of slavery 161 years ago. Elsewhere, there have been setbacks in the Middle Eastern peace process. The 14-point memorandum of understanding was signed earlier in France, and no talks between Iran and the […] More
June 18, 2026
Bank Indonesia’s 25-basis point rate hike to 5.75% followed an unscheduled review just eight days earlier and an initial tightening done in May. The haste implied by this sequence of increases totaling a full percentage point has been motivated by inflation of 3.1% that exceeds the 2.5% target mid-point but even more so by the […] More
June 18, 2026
President Trump signed a memo of understanding with Iran to end the war with Iran, reopen the Strait of Hormuz and allow for a period of 60 days to address Iran’s nuclear program and hammer out remaining disagreements. While this signing is viewed as an important step toward reestablishing the supply of energy and other […] More
June 17, 2026
From a peak of 5.25-5.50%, the federal funds target was lowered in two waves that occurred at the final three scheduled monetary policy reviews of 2024 and 2025. The first wave amounted to a drop of 100 basis points to 4.25-4.50%, while each of the three cuts late last year had a size of 25 […] More
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