Larry's Blog
Reflections on FOMC Minutes
May 21, 2008
I take away three main thoughts, none of which is surprising. First, the outlook for growth is dim and worse than such seemed in January. Projected 2008 growth was revised down to 0.3-1.2% from 1.2-2.0%, strongly suggesting some negative quarters given on-year growth of 2.5% in 1Q08. But inflation prospects have worsened. Officials project PCE […] More
Canadian CPI Inflation in April Accelerated
May 21, 2008
Canadian consumer prices on a seasonally adjusted basis rose 0.4% last month, twice as much as their U.S. counterpart. But more broadly, Canadian consumer prices in the six months to April went up just 2.2% saar, half the 4.5% pace of U.S. consumer price inflation over that period. The unadjusted 0.8% climb in total Canadian […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad
May 21, 2008
The dollar and sterling are again weaker. Dollar overnight losses ranged from 0.7% against the kiwi to 0.5% against the euro, 0.4% against the Swissy and A-dollar, 0.3% against the yen and C-dollar and 0.2% versus the yuan. Dollar gained 0.1% relative to the British pound. Asian stocks closed mixed. Nikkei lost 1.7%. Kospi -1.4%. […] More
