Deeper Analysis
February in Figures
February 29, 2012
February was a replay of January in certain respects, but there will also some notable market differences between the two months. The similarities involved a weaker dollar, stronger share prices and pinned short-term interest rates. One notable shift was the very weak yen in February compared to January when it merely shadowed the dollar. This […] More
Central Bank Watch
When Humphrey Met Sadie and What the Fed Wants Us to Know
February 29, 2012
Federal Reserve Chairman Ben Bernanke gave Humphrey Hawkins testimony before the House Financial Services Committee on this Sadie Hawkins Day of 2012. The dual references to Hawkins, one for the testimony and the other for the day, are a curious happenstance. The testimony is called Humphrey Hawkins for the two sponsors of the 1977 Full […] More
Deeper Analysis
Market Movements since February 29, 2008
February 29, 2012
The dollar is 22.4% weaker against the yen but 13.2% stronger relative to the euro since the last Sadie Hawkins Day. Ten-year sovereign debt yields have declined by 204 basis points in Germany, 167 bps in the United States, and 40 bps in Japan. The 30-year Treasury yields has dropped 142 basis points. Oil prices […] More
New Overnight Developments Abroad - Daily Update
Sadie Hawkins Day Full of News
February 29, 2012
Mitt Romney won the Michigan primary by three percentage points, but delegates are being awarded proportionately for that state. His margin of victory in the Arizona primary surpassed 20 percentage points. The ECB’s second 3-year LTRO pumped EUR 529.5 billion of cheap 1% cash into the euro area banking system, topping the EUR 489 billion […] More
