Archive for December 5th, 2011

Central Bank Watch

Mexican Central Bank Rate Unchanged

December 5, 2011

The overnight Mexican interbank rate was kept at 4.5% after last Friday’s central bank monetary policy meeting.  That’s been its level since 375 basis points of reduction were implemented during the six months to July 2009.  Earlier three straight hikes had established a cyclical peak of 8.25% in August 2008.  A statement from central bank […] More

Deeper Analysis

U.S. Advantage in Service Sector Activity Trimmed

December 5, 2011

The U.S. Institute of Supply Management reported a non-manufacturing purchasing managers score of 52.0 in November, 1.6 points less than forecast and 0.9 points lower than October’s reading.  In Euroland, by contrast, the service-sector PMI rose 1.1 points to 47.5.  Such constituted an upward revision from a preliminary estimate of 47.2 and beat initial estimates […] More

New Overnight Developments Abroad - Daily Update

Hoping for Strong Action at EU Summit

December 5, 2011

Markets for now are giving the benefit of the doubt to an agreement at week’s end by European politicians to take stronger action to save the euro. Equities are 1.1% firmer in Paris and show gains of 0.5% in Germany and Great Britain.  In the Pacific Rim, share prices were mixed, with declines of 1.4% […] More