Archive for February 15th, 2012

Central Bank Watch

FOMC Minutes Shed More Light on the Committee’s Diversity of Views

February 15, 2012

The minutes from the January 24-25th Federal Open Market Committee meeting do not appear to contain game-changing information.  The range of opinions expressed in a variety of speeches by Federal Reserve officials and admissions at last month’s press conference and in the forecasts released then already had highlighted the fact that committee members are not […] More

Deeper Analysis

The Dollar, Capital Flows, and U.S. Trade Deficit

February 15, 2012

Released data on the the U.S. trade balance each month and current account each quarter seldom evoke an immediate currency market response.  The balance of payments, a summary compilation of all transactions with foreigners must net to zero because of the double entry accounting convention that records each item twice but with opposite signs.  Portions […] More

New Overnight Developments Abroad - Daily Update

Upbeat Market Mood Despite Persistent Uncertainty

February 15, 2012

Share prices jumped 2.3% in Japan, 2.1% in Hong Kong, 2.0% in India, 1.5% in Taiwan, 1.8% in Thailand, 1.1% in China and South Korea, and 0.3% in Australia.  The German Dax is 1.1% higher, and the Paris Cac has climbed 1.0%.  Disappointing results included New Zealand (down 1.1%) and Britain (up only 0.2%). In […] More