Deeper Analysis
Bond Yields in the Noughties Compared to the Nineties
December 21, 2009
As the current decade winds down, the ten-year minus two-year yield curve has lengthened to a record width and is up 136 basis points since the end of 2008. Nonetheless, the ten-year yield of 3.67% remains 78 basis points below its decade average of 4.45%. Likewise, that average for the present decade of the noughties […] More
Central Bank Watch
Hungary’s Policy Interest Rate Reduced Less Than Expected
December 21, 2009
The Magyar Nemzeti Bank cut its policy rate by 25 basis points, not 50 bps as forecast, and released a statement that did not attribute the smaller move to higher on-year inflation of 5.2% in November after 4.7% in October but rather to market perceptions of fiscal risk and the forint’s associated vulnerability. The rise […] More
New Overnight Developments Abroad - Daily Update
Quiet Start to Pre-Xmas Week
December 21, 2009
Trading volume has been restrained by snow storm in Eastern U.S. and approaching yearend holidays. Federal snow day in D.C. European weather also severe. The dollar is unchanged against the euro and Swiss franc. The Swissy remains stronger than 1.50 per euro (latest quote = 1.4955) despite released Swiss National Bank quarterly report that reiterates […] More
