Deeper Analysis
Multi-Decade Bull Market in Fixed Income Securities
December 20, 2010
As 2010 draws near its end, many analysts are proclaiming the end of a multi-decade bull market in fixed-income securities. The power of that bull market is can be seen in the table below, which presents sequential five-year averages in 10-year sovereign debt yields for the United States, Germany, Japan, Britain and Canada. Average yields […] More
Central Bank Watch
A Second Hungarian Central Bank Rate Hike
December 20, 2010
Magyar Nemzeti Bank, which had cut its base rate fourteen times from 11.5% at the start of November 2008 to 5.25% by end-April 2010, announced a second consecutive monthly advance of 25 basis points to 5.75%. A statement released by officials today cited the likelihood that inflation will remain above target due to cost-push shocks […] More
New Overnight Developments Abroad - Daily Update
Peripheral Sovereign Debt Concerns Weigh on Euro
December 20, 2010
The euro edged 0.1% lower against the dollar, which otherwise shows losses of 0.5% versus the kiwi, 0.4% against the Swiss franc, 0.3% relative to the Australian dollar, yen and sterling, and 0.2% against the Canadian dollar. ECB President Trichet reiterated the views that EMU member governments must adhere to fiscal discipline but called speculation […] More
