Archive for November 1st, 2011

Deeper Analysis

October in Figures

November 1, 2011

A revival of risk aversion drove equities and commodities higher and the dollar downward over the bulk of October.  News of a Greek voter referendum on November 4 that will quite plausibly torpedo the October 26 EU agreement resulted in a significant trimming of these trends on the final trading day of the month and […] More

Larry's Blog

Power Back Up

November 1, 2011

America’s Northeast was hit by a rare late October snowstorm that left a couple of million households without power.  Mine was just restored after a 69-hour interval without electricity, cable coverage, internet access and WiFi.  It’s amazing how sweepingly international markets can change in fewer than two full trading days.  Compared to Friday closing level, […] More

Central Bank Watch

Reserve Bank of Australia Cuts Official Cash Rate (OCR) to 4.5%

November 1, 2011

The RBA eased monetary policy for the first time since a 25-basis point OCR cut in April 2009 culminated a six-step 425 basis point easing from September 2008.  Today’s reduction was also by 25 basis points.  Aggressive monetary and fiscal stimulus as the world economy sank into the Great Recession enabled Australia to be among […] More

New Overnight Developments Abroad - Daily Update

Greece Takes Away the World’s Punch Bowl

November 1, 2011

Confidence in the EU summit agreement of October 26th had already begun to wane, but the decision by Greek Prime Minister Papandreou to submit to a voter referendum the EU deal including the additional austerity required of his country has sent world financial markets back into full crisis.  The outcome of this Friday‚Äôs referendum is […] More