Bonds and Stocks
Ten-Year Bond Spreads and The Dollar
July 13, 2009
Ten-year Treasuries traded at a yield of 3.73% on September 12, 2008 just before Lehman Brothers collapsed, fell to as low as 2.08% on December 18th, rebounded to touch 4.0% briefly on June 10th, and have settled back to 3.36% currently. These wide swings reflect dueling ideologies that cannot decide if the U.S. economy faces […] More
Bank of Canada Surveys Suggest Recession Lessening
July 13, 2009
The Bank of Canada released encouraging results from two quarterly surveys today. Businesses were questioned about recent conditions and prospects. Their sales and employment outlooks have improved substantially. Credit conditions are still tight on the whole but less so than before. Producer input and output inflation is expected to decline further but expected inflation at […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Asian Stocks Sharply Lower
July 13, 2009
Stocks tumbled 3.5% in Taiwan and South Korea, 2.8% in Vietnam, 2.6% in Japan and Hong Kong, 1.8% in Singapore, 2.1% in Indonesia, 0.9% in India and 0.6% in Thailand. The German Dax and British Ftse are unchanged, in contrast. The dollar rose significantly overnight against the kiwi (1.0%), sterling (0.9%), Australian dollar (0.8%) and […] More
New Overnight Developments Abroad - Daily Update
Data Highlights From July 10th
July 13, 2009
Canadian unemployment increased to 8.6% in June from 8.4% in May and 6.1% last September. This was the highest rate since February 1998. A 40.1K rise in part-time workers limited the overall drop of jobs to a smaller-than-forecast 7.4K. Wages recorded a 12-month increase of 3.5%, similar to May’s 3.4% but below 4.3% in April. […] More
Foreign Exchange Insights and Next Week
Next Week
July 13, 2009
Interest rate meetings are scheduled this week at central banks in Japan, Thailand, Mexico and Turkey. Minutes from the last FOMC and Swedish Riskbank meetings will be published. ECB President Trichet and Bank of Japan Governor will be speaking publicly, and the newest appointed Bank of England policymaker, Posen, testifies. The monthly ECB Bulletin and […] More
