Bonds and Stocks
Equities
November 13, 2008
Every session in which the Dow Jones Industrial climbed since September 11th, all seventeen of them, showed an increase of more than 140 points. That includes today’s 552-point rally. Nevertheless, that index has dropped 21.6% over this period. Outsized daily rallies, particularly in thin volume like today, are a sign of market weakness, not strength. […] More
Trends in U.S. Trade
November 13, 2008
The September goods and services deficit of $56.5 billion represented an eleven-month low. Oil accounted for all of the improvement. The big picture, however, is one of stalled improvement. The deficit of $59.4 bn over the first nine months of 2008 was 1.0% wider than a year earlier in contrast to a 9% shrinkage in […] More
Canadian Exports Dropped for a Second Straight Month
November 13, 2008
The Canadian trade surplus narrowed 20% in September to C$ 4.49 billion from an August figure that was revised down by 3%. A 1.0% drop in exports was spread across most sectors but concentrated most heavily in auto and energy shipments to the United States. Exports had also fallen in August. A 1.9% increase in […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: German Recession Confirmed Officially
November 13, 2008
Asian Stocks got bombed again, with drops of 5.3% in Japan’s Nikkei, 5.2% in Hong Kong, 5.0% in Indonesia, 3.1% in India, and 1.6% in Singapore. In Europe, the Ftse is 1.7% lower, and the Dax (-1.1%) and Cac40 (-0.9%) fell too. Australian shares plunged 5.9%, and the Aussie dollar needed intervention support after falling […] More
