Archive for March 17th, 2020

Deeper Analysis

Might U.S. GDP Contract as Sharply as It Did in 2008-09?

March 17, 2020

At least two consecutive quarters of falling gross domestic product in the United States now look unavoidable. Even President Trump has acknowledged the probability of a recession and postulated that the coronavirus outbreak may not recede until well into the third quarter. Late in 2019, few analysts were predicting a recession, but now most do. […] More

Central Bank Watch

Turkey’s One-Week Repo Rate Cut to 9.75% from 10.75%

March 17, 2020

The Central Bank of Turkey‘s board, which was to have reviewed policy later this week, announced a larger-than-anticipated 100-basis point reduction of its one-week repo rate. Reductions in January and February had been by 75 and 50 basis points, respectively, and at 9.75%, the benchmark has fallen 14.25 percentage points from the high of 24.0% […] More

New Overnight Developments Abroad - Daily Update

Picking Apart the Pieces of Monday’s Rout

March 17, 2020

Stocks overnight did not fall as steeply as such had Monday in the United States. In the Pacific Rim, share prices fell 2.5% in South Korea, 2.9% in Taiwan, 5.0% in Indonesia, 2.3% in India, 1.7% in Singapore but just 0.3% in China. Equities rebounded 5.8% in Australia and 0.1% in Japan. European markets show […] More