Archive for June 28th, 2013

Central Bank Watch

Central Bank of Colombia Extends Policy Pause

June 28, 2013

After six 25-basis point cuts in Colombia’s main interest rate between July 2012 and February 2013, the ante was doubled to 50 bps at the March meeting, but the ensuing three meetings in April, May and now June resulted in no change to the 3.25% interest rate.  Growth has responded positively to the monetary stimulus […] More

Deeper Analysis

June in Figures

June 28, 2013

It’s been quite a month and quite a quarter for world financial markets.  Long-term interest rates rose sharply in the quarter, but note that Abenomics succeeded in preventing JGB yields from climbing further in June even as rates elsewhere continued their ascent.  The Australian and New Zealand dollars were especially weak in both the quarter […] More

Foreign Exchange Insights and Next Week

Next Week

June 28, 2013

Next week is the first one of the third calendar quarter.  Monday kicks off with the Bank of Japan’s quarterly Tankan survey of corporate business conditions and expectations.  Monday starts the Mark Carney era at the Bank of England and Lithuania’s half-year stewardship of the EU presidency. Various and sundry purchasing manager surveys — over […] More

New Overnight Developments Abroad - Daily Update

Data Deluge, Press Report Denials, and Quarter-End

June 28, 2013

Lots of data were released on this final working day of the second quarter. Japanese figures show stronger inflation and activity. German retail sales also beats expectations.  German CPI inflation accelerated. Being the final trading day of the quarter, position-squaring could impact market action today. An unidentified ECB official called German press reports erroneous that […] More