Archive for July 14th, 2009

Bonds and Stocks

One-Year Anniversaries for Oil and the Euro and A Little History

July 14, 2009

West Texas Intermediate futures peaked on July 11, 2008 at $147.27 and are presently trading off 59.0% from that peak.  Gold, by comparison, dropped only about 5% on balance over that period.  Oil prices recorded lower period averages for eight consecutive months — $134.08 in June 2008, $133.97 in July, $116.69 in August, $103.57 in […] More

Posen Testifies on Economic and Financial Market Challenges

July 14, 2009

The U.S.-born, Harvard-educated, and well-connected economist Adam Posen, who will join the Bank of England Monetary Policy Committee at end-summer, testified in parliament earlier today on a wide range of issues.  He will replace Tim Besley, one the of Committee’s most hawkish members, but also continues a U.S. connection, as the dovish David Blanchflower, a […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Stocks Recover, Dollar Mostly Lower

July 14, 2009

The dollar eased 0.7% against sterling, 0.6% versus the Canadian and Australian dollars and 0.2% relative to the kiwi.  EUR/USD is unchanged.  Dollar/yen firmed 0.2%, and dollar/Swissy edged up 0.1%. Stocks advanced in Asia and Europe.  Equities gained 3.7% in Hong Kong, 3.5% in Australia, 3.4% in India, 2.8% in China, 2.3% in Japan, 1.9% […] More