Archive for March 3rd, 2011

Deeper Analysis

Purchasing Managers Surveys: Smaller U.S. Advantage Against Euroland

March 3, 2011

The United States and Euroland experienced fairly decent activity in both service sector activity and manufacturing last month according to purchasing manager survey data released this week.  In a scale where a score of 50.0 delineates neutrality between expansion and contraction and readings of 60 connote a truly brisk pace, none of the four overall […] More

Central Bank Watch

ECB Signals Likelihood of a Much Sooner-Than-Expected Rate Increase

March 3, 2011

While proclaiming that the ECB Governing Council never pre-commits to a future interest rate change, President Trichet used code language to suggest a major likelihood of a rate increase in April. He Said “strong vigilance is warranted with a view to containing upside risks to price stability.” Failed to say current rate levels including the […] More

New Overnight Developments Abroad - Daily Update

European Stocks Up Ahead of ECB Press Conference

March 3, 2011

Stocks are up 1.4% in Paris and Frankfurt and 1.3% in London ahead of the ECB press conference that starts at 13:30 GMT.  The ECB left rates unchanged.  Earlier today, equities gained 0.9% in Japan, 1.4% in Taiwan, 2.2% in South Korea, 0.5% in New Zealand and Malaysia, and 0.3% in Singapore, Thailand and Indonesia. […] More