Central Bank Watch
Markets Not Reassured by Today’s Signals from the Fed
December 19, 2018
The FOMC statement accentuated the U.S. economy’s strong trends of domestic demand and labor market conditions. Comments about inflation were not modified. Concessions to recent jittery markets, President Trump’s criticism that raising interest rates is inappropriate, and the tilt in global data from mostly better-than-expected to primarily softer-than-expected results were slight and worded in a […] More
Central Bank Watch
FOMC Preview
December 19, 2018
It’s been a very eventful period in the market during the 6-week FOMC cycle since the early November policy meeting, but notably the dollar only slipped 0.25% against the euro on balance. Outside of this oasis of stability, however, the ten-year Treasury yield is now 42 basis points lower than then, and the Dow Jones […] More
Central Bank Watch
Bank of Thailand Tightens for First Time Since August 2011
December 19, 2018
The Bank of Thailand’s one-day repo rate was lifted 25 basis points to 1.75% in an expected move. This was the first hike since August 2011 and the first rate change since a pair of 25-basis point cuts in March and April of 2015. According to a released statement, the rate hike was made in […] More
New Overnight Developments Abroad - Daily Update
Dollar Softer Ahead of FOMC Decision and After U.S. Current Account Release
December 19, 2018
Despite weaker data and pressure from Trump, the Federal Open Market Committee is expected to announce the fourth rate hike of 2018 later today but to couch such within more accommodative forward guidance regarding likely policy in 2019. The U.S. current account deficit jumped to $124.8 billion in the third quarter from $101.2 billion in […] More
