Larry's Blog
Texans and the Dollar
August 15, 2011
When Texans have been in a position of high authority, bad things invariably seem to happen to the dollar, so my reaction to Governor Rick Perry’s entry into the Republican race was “there we go again.” For the record, Texas is America’s second most populous state, yet Texans have exerted a disproportionate influence over U.S. […] More
Deeper Analysis
U.S. Balance of Payments Weakened Prior to Midyear
August 15, 2011
Treasury capital flow data released earlier paint a weaker U.S. balance of payments. Foreigners sold $11.5 billion of U.S. long-term securities in June after buying $44.6 billion in May. Net purchases of U.S. securities averaged $26.0 billion per month in the second quarter, down from $53.9 billion per month in 1Q, and the first-half pace […] More
New Overnight Developments Abroad - Daily Update
Continuing Retreat of Swiss Franc
August 15, 2011
A press report that the Swiss National Bank is seeking permission from the government for it to impose a CHF/EUR ceiling generated further depreciation in the franc, which at overnight lows of 0.8000 per dollar and 1.1460 per euro was 11.7% and 12.1% below last Tuesday’s highs. Share prices in Asia and Europe overnight were […] More
