Deeper Analysis
February 2020 in Figures
February 29, 2020
February 2020 will be long remembered for its final week that saw an historic drop in equity prices around the world related to concerns about the ultimate economic impact of the spreading covid-19 virus. The Dow Jones Industrials Average index fell on each of the final seven business days of February, losing 13.6% in total […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: February 29 – March 6, 2020
February 28, 2020
Central Banks: Monetary policies will be reviewed in Poland, Australia, Canada and Malaysia. The Fed Beige Book of U.S. regional conditions will be published, and Mester, Evans, Bullard and George are some of the Fed officials with public speaking engagements. Carney and Haldane of the Bank of England, Weidmann of the Bundesbank and ECB, and […] More
New Overnight Developments Abroad - Daily Update
Share Prices Tumble in Tandem with Proliferating Coronavirus Cases
February 28, 2020
Stock markets tumbled 3.7% in Japan and China, 3.6% in India, 3.3% in South Korea, 3.3% in Australia, 2.4% in Hong Kong and 3.2% in Singapore. Declines today in Europe so far exceed 2.5% in the U.K., Germany, France, Switzerland and Italy. Spain’s drop is almost there at 2.3%. 10-year sovereign debt yields plumbed deeper […] More
New Overnight Developments Abroad - Daily Update
Stampede Out of Risky Assets Intensifies
February 27, 2020
Share prices fell 2.7% in Indonesia, 2.1% in Japan, 1.2% in Taiwan, 1.1% in South Korea, 0.9% in New Zealand and 0.8% in Australia. Equities are down at least 1.5% in France, Germany, the U.K., Spain, and Switzerland, and U.S. futures point to a drop of over 1.0%. Sometime today, the cumulative decline of the […] More
New Overnight Developments Abroad - Daily Update
Decline Continues in Equity Markets
February 26, 2020
The dollar climbed overnight by 0.6% against sterling, 0.5% relative to the Australian dollar, 0.3% versus the yen and peso, 0.2% vis-a-vis the loonie, and 0.1% against the yuan. The dollar also extended its uptrend against several developing country currencies like the South African rand and South Korean won. Alternatively, the dollar dipped 0.2% against […] More
New Overnight Developments Abroad - Daily Update
COVID-19 Continues to Dominate World and Market News
February 25, 2020
Confirmed worldwide coronavirus infections and deaths now total 80,348 and 2707. 77,600 and 2663 of these are in China, but the disease continues to spread with Croatia and Austria reporting their initial instances, South Korea and Italy having 977 and 229 infections, and Iran’s deputy health minister becoming one of the casualties. The WHO warned […] More
Larry's Blog
COVID-19 Shakes Investor Confidence in Financial Market and Economic Forecasts
February 24, 2020
The coronavirus outbreak that surfaced initially in China some two months ago presents the greatest known unknown to hit financial markets in some time. The disease is spreading geographically in patterns that have health professionals quite perplexed, and that isn’t surprising since asymptomatic victims can be infectious days before feeling sick. Not enough time has […] More
New Overnight Developments Abroad - Daily Update
Steep Slide in Equities as Covid-19 Virus Spreads Beyond China in Unidentifiable Ways
February 24, 2020
Reported coronavirus cases and deaths jumped over the weekend in three disparate countries (South Korea, Italy and Iran). Not only are these place far apart in distance, but scientists have been in many instances unable to connect the exact source of exposure outside of China. It’s been difficult to separate fact from fiction as all […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: February 22-28, 2020
February 21, 2020
Central Banks: Interest rate policies to be reviewed in Israel, South Korea, and Hungary. Mester, Clarida, and Evans of the Federal Reserve will be speaking publicly. So too will ECB President Lagarde, Deputy Governor Lane of the Bank of Canada, and both Kataoka and Amamiya of the Bank of Japan. Holidays and Events: Brazil celebrates […] More
New Overnight Developments Abroad - Daily Update
Dollar Continuing to Flourish Amid Coronavirus Concerns
February 21, 2020
The dollar climbed overnight by 0.8% against the peso, 0.3% relative to the Australian and New Zealand dollars and 0.1% versus the Chinese Renminbi. There have been dips of 0.3% against sterling, 0.2% versus the Swiss franc and 0.1% relative to the yen and euro. Dollar strength can be seen against a broad spectrum of […] More
