Larry's Blog
American Headwinds
September 23, 2010
The start of the 21st century has been a difficult period for the United States. Analysts would not be calling this an age of uncertainty if risks were skewed mostly to the upside. Even before the onset of the subprime crisis in 2007 and its escalation into a full-blown financial and world economic recession, U.S. […] More
Central Bank Watch
Unchanged Czech Central Bank Rate
September 23, 2010
The Czech National Bank Board voted to retain a two-week repo rate target level of 0.75% as analysts had predicted. Although this decision was the same as at prior meetings on August 5 and June 23, those votes were unanimous, while today’s contained a single dissenter, who favored a 25-basis point increase. A document published […] More
New Overnight Developments Abroad - Daily Update
Market Pessimism Shifts Back to Europe
September 23, 2010
Preliminary euro area PMI readings for September were weaker than anticipated, and peripheral bond yield spreads are wider amid rising concern about the region’s banks. The dollar advanced 1.3% against the kiwi after a weak New Zealand GDP report. The greenback also gained 0.6% against the Australian dollar, 0.5% versus the euro, 0.2% against the […] More
