Central Bank Watch
Preview of Humphrey-Hawkins Testimony
July 20, 2010
On Wednesday and Thursday, Fed Chairman Ben Bernanke briefs both houses of Congress on U.S. economic conditions and prospects for monetary policy. This semi-annual ritual, formerly known as the Humphrey-Hawkins hearings, always has market-moving potential. One year ago in July 2009, Bernanke spoke about tentative signs of stabilization in the economy amid continuing dangers. A […] More
Central Bank Watch
Bank of Canada Raises Interest Rate But Changes Light to Amber from Green
July 20, 2010
In follow-up to a first 25-basis point rate increase on June 1, Canada’s overnight rate target was lifted by another 25 basis points to 0.75%. The move was widely forecast, and analysts were most interested in any clues about future policy. In several ways, today’s new Bank of Canada statement backpedals, suggesting a third rate […] More
New Overnight Developments Abroad - Daily Update
Market Worried About Euroland
July 20, 2010
Ahead of Friday’s publication of European bank stress test results, the German Dax, Paris Cac, Spanish IBEX, and British Ftse have traded 1.1%, 1.2%, 0.7%, and 0.6% lower. In the Pacific Rim, the Japanese Nikkei reopened after Monday’s Marine Day holiday with a loss of 1.2% to 9,300. Stocks fell 0.7% in Thailand and 0.3% […] More
