Deeper Analysis
Today’s Release of Trade Statistics
October 13, 2011
The United States, Canada, and Great Britain reported August trade figures today, while China released its statistics for September. The U.S. goods and services trade deficits in July and August were almost identical at $45.625 billion and $45.608 billion. The deficit in the first half of 2011 averaged $47.494 billion, by comparison. The census-basis U.S. […] More
Central Bank Watch
ECB Opposition to Involuntary Private Sector Involvement (PSI) in Resolution of Private Debt Crisis
October 13, 2011
The ECB’s monthly publication seldom elicits market notice. The main editorial every month rehashes very closely the content of the statement released immediately after the Governing Council meeting and therefore contains no fresh information. The first main article in the latest issue, which presents a run-down of the regional economic situation, became news rather than […] More
Central Bank Watch
Korean Monetary Policy Left Unchanged
October 13, 2011
South Korea’s seven-day repo rate has been at 3.25% for the past four months following two hikes in 2010 in July and November and three similar moves in the first half of 2011 in January, March, and June. Three cuts between August 2008 and February 2009 had slashed the benchmark from 5.25% to 2.0%. Inflation […] More
New Overnight Developments Abroad - Daily Update
ECB Comment Weighs on Euro and Stocks
October 13, 2011
Investor attention was drawn to the ECB Bulletin where it is warned that forced euro bondholder write-offs could hurt the euro’s reputation. The euro fell as much as 1.7% against the yen and 0.9% relative to the dollar. Stocks in Europe lost 1.4% in Germany, 1.1% in France, and 0.8% in Great Britain. Compared to […] More
