Bonds and Stocks
What Market Data to Use?
July 10, 2008
In collecting market data, a degree of discretion often arises, wherein analysts develop personal preferences. Let me explain two of mine. I collect currency rates several times each day, but I choose not to use closing New York rates to construct my data base as many others conventionally do. Instead, the foreign exchange rates I […] More
Australian Slowdown Intact
July 10, 2008
A bigger-than-expected 29,800 rise of jobs in June was reported for June earlier today. Taking downward revisions to previous months into account, the actual advance was about 2.5 times street forecasts, and it was accompanied by a dip in the unemployment rate to 4.2% from 4.3%, which also had not been expected and occurred despite […] More
Central Bank Watch
Bank of England Rate Kept Steady
July 10, 2008
The Monetary Policy Committee will release minutes of this week’s meeting on July 23rd to explain its as-expected decision to leave its benchmark rate at 5.0%. There had earlier been 25-bp rate cuts in 12/07/ 02/08 and 04/08, and the U.K. economy is headed for a possible recession, led by a collapsing housing market. The […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Sharp Declines in French and Italian Industrial Output
July 10, 2008
The dollar rose 0.5% against the yen, 0.4% against the Swiss franc and sterling, and 0.2% against the euro and Canadian dollar. But the buck is off 0.3% relative to the Australian dollar. Australian jobs expanded 29.8K in June, three times forecast, and the jobless rates dipped to 4.2% from 4.3%. An IMF report on […] More
Bonds and Stocks
Stock Markets Lack Synchronization This Week
July 10, 2008
The three largest developed nation-state economies are the United States, Japan, and Germany, and often their stock markets move directionally in tandem. But over the first three days of this week, the U.S. Dow fell Monday, rose Tuesday, and fell on Wednesday, while the German Dax and Japanese Nikkei rose Monday, fell Tuesday, and rose […] More
