Deeper Analysis
U.S. and Euroland Post Identical Manufacturing PMI Readings in February
March 3, 2014
The U.S. purchasing managers index rose 1.9 points to 53.2, signifying a faster rate of growth. Orders led the improvement, while production slowed and employment grew at the same rate as in January. The euro area PMI fell by 0.8 points to 53.2, reversing part of a 1.3-point increase in January. The German and Italian […] More
Central Bank Watch
150-Basis Point Hike in Key Russian Interest Rate
March 3, 2014
At successive scheduled meetings last October, November, December and mid-February of the Central Bank of Russia’s Board of Directors, the Russian key policy interest rate had been left at 5.5%, but officials lifted such today after an unscheduled meeting to 7.0%. Previous reasons for unchanged policy in the face of above-target CPI inflation were the […] More
New Overnight Developments Abroad - Daily Update
Threat of Ukraine War with Russia Unsettles Everything
March 3, 2014
Russian soldiers entered Crimea, and the new Ukraine government in Kiev issued a warning of impending disaster. Russian President Putin appears undeterred by the protests of U.S. President Obama and EU leaders. Russia’s stock market fell over 10%, most since the bleakest days in early 2009. Gold and oil prices advanced by 1.8% to $1349.20 […] More
