Archive for April 28th, 2011

Deeper Analysis

U.S. GDP Release: Three Paradoxical Observations

April 28, 2011

After the worst recession since the 1930s, the recovery continues to be disappointing in strength.  Over the first seven quarters of the current U.S. economic recovery, real GDP grew at an annualized rate of 2.8%.  That’s better than the 2.0% pace over the first seven quarters of recovery in the previous business cycle but not […] More

Central Bank Watch

Bank of Japan Policy Review

April 28, 2011

The Policy Board voted unanimously to retain a key rate target range of zero to 0.1% at a meeting lasting three hours and 26 minutes.  This was expected.   A significant easing, including quantitative easing, had been undertaken last month three days after the Sendai earthquake.  The extent of easing surpasses the height of stimulus during […] More

New Overnight Developments Abroad - Daily Update

Post-FOMC Drop of Dollar and Rise of Gold Extended

April 28, 2011

Gold prices advanced 1.0% overnight to $1531.70 per ounce and are 5.4% above the close of $1453.10 of April 12th. Oil prices are 0.2% lower at $112.60 per barrel. The dollar has fallen 0.5% against the yen, 0.3% relative to the Australian dollar, Canadian dollar, and euro, and 0.2% against sterling, Swiss franc and the […] More