Archive for June 27th, 2008

Bonds and Stocks

Tough Decade for Equities

June 27, 2008

A 17-1/2 year uptrend in the Dow Jones Industrials carried that index from 777 on August 12, 1982 to a peak of 11,723 on January 14, 2000.  It took until October 3, 2006, nearly seven years, for the DOW to overtake the 11,723 peak, and yesterday it fell below that benchmark yet again.  So after […] More

Foreign Exchange Insights and Next Week

Foreign Exchange Insights

June 27, 2008

Net oil-consuming nations face a common enemy in soaring energy costs, which lift inflation and cut economic growth.  Since the end of the first quarter, oil prices have advanced 38%.  The weakest major currencies since end-March have been the yen and Swiss franc, the historic financing vehicles in carry-trade investments.  The strongest currencies in 2Q08 were the […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad

June 27, 2008

The dollar clawed back 0.1% from the euro and sterling but otherwise extended its losses, dropping 0.8% against the Canadian dollar, 0.6% against the kiwi, 0.5% relative to the Australian dollar, 0.4% against the yen, and 0.2% against the Swiss franc. Oil touched a new high of $141.71 per barrel overnight and is 1.0% higher […] More