Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: October 10th
October 10, 2008
No end to extremely strained credit market conditions appears in sight. Officials are individually and collectively working feverishly to inspire confidence, but two litmus tests, credit market premiums and share prices, signal an escalating crisis. Risk aversion has buoyed the yen and dollar and depressed sterling and commodity-sensitive currencies. When G-7 finance ministers and central […] More
Uncategorized
New Overnight Developments Abroad: Market Performance Worse Than Ever
October 10, 2008
Gold rose 4.6%. Just about everything else is down in very panicky trading. The world stock index, MSCI, is headed by a weekly loss near 19%, the biggest tumble since at least 1970. Asian stocks: Nikkei -9.6%. Hong Kong -7.2%. Philippines -8.3%. Singapore -7.3%. Thailand -9.6%. South Korea -4.1%. Indonesian bourse remained shut. European stocks: […] More
Bonds and Stocks
Stock Price Declines of 1987 and 2008 Compared
October 10, 2008
The Dow Jones Industrial Average has lost 23.0% over its last nine trading sessions in spite of gains of 4.7% on September 29th and 1.4% on October 6th. That drop is very close to the single-day plunge of 22.6% on October 19, 1987. That 22.6% drop culminated a short-lived but large overall decline of 36.1% […] More
