Deeper Analysis
August in Review
September 1, 2015
A possible global bear market in equities took shape increasingly as August unfolded. Currency markets were dominated by the fall-out of the Chinese yuan devaluation, namely a decline of the dollar against the yen and euro and generally weak commodity-sensitive currencies. A significant rise of 16 basis points occurred in the 10-year German bund yield, […] More
Deeper Analysis
Manufacturing PMI Spread Between U.S. and Eurozone Swings to Minus 1.2
September 1, 2015
The U.S. factory purchasing managers index reported by the Institute of Supply Management fell 1.6 points to a 27-month low of 51.1, whereas Euroland’s counterpart, compiled by Markit Economics, dipped just 0.1 points. The resulting spread between the two series, -1.2, was most disadvantageous to the United States since very early in 2014. It seems […] More
Central Bank Watch
Reserve Bank of Australia
September 1, 2015
This month’s central bank Board meeting and statement again judged Australia’s record low 2.0% Official Cash Rate to be appropriately accommodative. Cuts of 25 basis points were decided in February and May of this year. Earlier reductions in May 2012, June 2012, October 2012, December 2012, May 2013 and August 2013 were also 25 basis […] More
New Overnight Developments Abroad - Daily Update
Worries about China Rattle Global Equities Again as a New Month Begins
September 1, 2015
A series of bad Chinese purchasing manager survey results were reported on Tuesday. The private Caixin composite PMI (formerly compiled by HSBC) slumped 1.4 points to a 78-month low of 48.8 in August amid weak demand. The Caixin manufacturing PMI of 47.3 was down from 47.8 in July to a 77-month low of 47.3 in […] More
New Overnight Developments Abroad - Daily Update
Worries about China Rattle Global Equities Again as a New Month Begins
September 1, 2015
A series of bad Chinese purchasing manager survey results were reported on Tuesday. The private Caixin composite PMI (formerly compiled by HSBC) slumped 1.4 points to a 78-month low of 48.8 in August amid weak demand. The Caixin manufacturing PMI of 47.3 was down from 47.8 in July to a 77-month low of 47.3 in […] More
