Deeper Analysis
August 2010 in Figures
August 31, 2010
August had a different mood from July. Long-term interest rates tumbled, and the dollar rose except against traditional carry trade funding currencies like the Japanese yen and Swiss franc. The yen reached a new 15-year high of 83.61, and the Swissy’s monthly peak of 1.0135 per greenback almost matched the 2010 high. The dollar performed […] More
Central Bank Watch
Pundits Digesting Nuances of Signals from the Fed, Bank of Japan and ECB
August 31, 2010
Among the most telling comments in the August FOMC minutes is the sentence, “Members generally saw both employment and inflation as likely to fall short of levels consistent with the dual mandate for longer than had been anticipated.” Often with a mandate to maintain price stability but also maximize jobs, there is a conflict with […] More
Central Bank Watch
Russian Key Interest Rate Left Unchanged at 7.75%
August 31, 2010
Bank Rossii left the Russian refinancing rate at a record low of 7.75%. It has been at that level since a 25-basis point cut effective last June 1st. From April 2009 until then, there were fourteen reductions totaling 475 basis points. Consumer price inflation of 5.5% in the year to July was less than half […] More
Deeper Analysis
Similar Canadian and U.S. Growth Trends
August 31, 2010
Canadian real GDP advanced 2.0% at a seasonally adjusted annualized rate (saar) in the second quarter and by 3.4% between 2Q09 and 2Q10. These results, announced earlier today, resemble U.S. trends. The compositions of Canadian and U.S. growth were less similar. In the comparative table below, “Cons” is an abbreviation for personal consumption, “Govt” stands […] More
New Overnight Developments Abroad - Daily Update
Stocks Closing Out a Bad Month on a Weakening Note
August 31, 2010
Japan’s Nikkei tumbled 3.6%, extending August’s loss to 7.5% and the decline since April 26 to 21%. Stocks also fell 1.0% in Hong Kong and South Korea, 1.6% in Taiwan, 1.1% in Australia, and 0.6% in India. In Europe, the Paris Cac and British Ftse are down 0.9%, and the German Dax has lost 0.7%. […] More
