Deeper Analysis
November in Figures
November 30, 2010
The second round of Fed quantitative easing was meant to depress long-term interest rates. Many perceived a hidden agenda to weaken the dollar. Neither trend played out in November unless one considers the fact that ten-year Treasury yields rose less than comparable rates in Japan and Canada as a moral victory. Meanwhile, short-term rates barely […] More
Larry's Blog
Brief Look Back at November
November 30, 2010
In November, the fear of a new U.S. recession receded, helped by upbeat retail sales and labor market data. In contrast, the euro area was subjected to intensifying centrifugal forces amid contrasting rates of economic growth among members, widening bond yield spreads, disappointing hard data for orders, GDP and retail sales but upbeat sentiment and […] More
Deeper Analysis
Canadian GDP Weaker Than Forecast
November 30, 2010
Real GDP expanded 1.0% at an annualized rate last quarter. In the Bank of Canada’s Monetary Policy Report published last month, officials had projected growth of 1.6%. Growth in Canada was less than half as fast as the 2.3% pace in the second quarter and less than a fifth as strong as the 5.2% annualized […] More
New Overnight Developments Abroad - Daily Update
More Downward Pressure on the Euro on a Day With Lots of Data
November 30, 2010
EUR/USD dipped briefly under $1.3000 for the first time since September 16 and shows a net additional overnight loss of 0.6%. In contrast to its gain against the euro, the dollar fell 0.5% versus the yen. Otherwise, the dollar shows gains of 0.2% against sterling and 0.1% relative to the Canadian and Australian dollars but […] More
