Currency Markets in the News
EUR/USD Unaffected By FOMC Decision
September 16, 2008
The FOMC did even less than today’s Wall Street Journal (planted?) story implied. Rates were not cut, nor was the risk bias shifted from neutrality to flagging a possible need for more ease. For the record, officials remains significantly concerned about the future possibilities of both too little growth and too much inflation, although the […] More
Bonds and Stocks
Other U.S. Economists Weigh in On the Matter of Which Political Party Gets the Best Results
September 16, 2008
One of this site’s postings that has drawn the most traffic was an August 19th article, which compared growth in U.S. GDP, jobs, consumer prices, stock prices, and the dollar at times when the U.S. president was a Democrat to times when the president was Republican. With great attention on the U.S. economy during this […] More
Currency Markets in the News
Equity Firewall Holding For Now
September 16, 2008
As the FOMC met, U.S. equities managed to lose little additional net ground in the first hour of trading. Overseas markets had tumbled sharply further overnight. An article by Sudeep Reddy and Jon Hilsenrath in today’s Wall Street Journal says monetary officials would like to avoid a rate cut today, contrary to how markets are […] More
Vital Market Signs at Selected Prior FOMC Meetings
September 16, 2008
EUR/$ $/JPY 10Y, % DJIA Oil, $ 06/30/04 1.2173 109.44 4.63 10396 37.95 06/29/06 1.2527 116.07 5.20 11077 73.41 08/07/07 1.3749 118.55 4.73 13510 72.27 12/11/07 1.4682 111.49 4.11 13645 89.78 01/30/08 1.4792 107.31 3.70 12454 91.70 03/18/08 1.5786 98.73 3.41 12257 107.53 04/30/08 1.5562 104.58 3.83 12953 111.54 06/25/08 1.5568 108.37 4.18 11837 […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: AIG Rating Downgraded, Stocks Plunge
September 16, 2008
Both Moody’s and S&P reduced ratings on troubled AIG, which needs to raise a huge amount of capital today. Fed and U.S. Treasury have not stepped in to help AIG. Markets are pricing in a 25-basis point Fed ease after today’s FOMC meeting. Short-term money markets are under heavy strain. Scant interbank lending. Rates sharply […] More
