Deeper Analysis
May in Figures
May 31, 2012
May was an ugly month in financial markets. The fine risk-on/risk-off balance in investor psychology lurched decisively in favor of safety over investment return after inconclusive Greek elections on the first weekend of the month increased the possibility that Greece would leave the common currency area. Voters there and in other countries in the currency […] More
Deeper Analysis
Some New Perspectives on the State of U.S. Growth
May 31, 2012
First-quarter U.S. real GDP was revised from an annualized pace of 2.2% reported initially to 1.9%, thus becoming the fourth instance in the past five quarters when GDP failed to climb as much as 2%. GDP only rose 2.0% over the last four quarters. The five-year annualized growth rate (1Q07 to 1Q12) stands at 0.7%, […] More
Central Bank Watch
Brazilian Interest Rate Cut
May 31, 2012
Brazil’s monetary policy committee, COPOM, reduced its key Selic interest rate to 8.5% from 9.0% late Wednesday. Such was the seventh reduction in an easing cycle begun nine months ago from a peak of 12.5%. These seven cuts totaling 400 basis points offset eight increases totaling 375 bps between April 2010 and July 2011, and […] More
New Overnight Developments Abroad - Daily Update
European Share Prices Higher after Drop in Asia
May 31, 2012
May 31st is seeing the typical month-end deluge of economic data, some of which have proved better than expected. The volume of German retail sales rose 0.6% in April on top of May’s 1.6% increase. Euro area CPI inflation slowed more than expected to 2.4% in May from 2.6% in June. Swiss real GDP advanced […] More
