Larry's Blog
U.S. Health Care Debate in Need of Some Plain Common Sense
June 15, 2009
The debate over health care reform has moved to the center stage of the Obama Administration agenda. I hope but am that very encouraged that the discussion can avoid the swamp of loaded labels like socialized medicine, which crowd out an honest debate over the pros and cons of recommended courses of action. Whether the […] More
Central Bank Watch
Bank of Japan Policy Meeting Preview
June 15, 2009
The lessening intensity of Japan’s recession will enable BOJ officials to refrain from any further stimulus announcements. The rate target will be left unchanged, and new forms of quantitative easing are unlikely to be unveiled. Such was cut twice in the final quarter of 2009 by 40 basis points in total but has remained at […] More
Canadian Manufacturing
June 15, 2009
Canada’s factory sector remains depressed. Orders plunged 10.8% in April and were 31.7% below their July 2008 level. Unfilled orders declined 5.5% in the latest month. Factory sales edged 0.1% lower after dropping 3.1% in March and were 24.1% lower than last July. The manufacturing sector’s implosion has been less intense since February, but the […] More
Treasury Report on U.S. Capital Flows in April
June 15, 2009
Capital flow data reported by the U.S. Treasury today indicate diminishing net inflows and imply a more vulnerable dollar. But there’s a rub. The correlation of these so-called TIC data flows and the dollar’s performance is notoriously poor, and the latest numbers conform to that pattern. Net foreign buying of U.S. securities declined 39% to […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Markets Correct
June 15, 2009
Valuations concerns have sent the dollar and yen higher and stocks and commodities lower. G8 finance ministers released a statement after meeting to prepare agenda for July 8-10 summit of leaders. The U.S. currency rose 1.5% against the Aussie dollar and kiwi, 1.0% relative to the euro, Swissy and Canadian dollar, and 0.7% against sterling. […] More
