Deeper Analysis
February 2021 in Figures
February 27, 2021
Extreme financial market volatility on the final business day of February exerted a significant effect on monthly changes shown in the table below. The ten-year U.S. Treasury yield, for example, plunged from last week’s 12-month high of 1.61% to 1.40% at yesterday’s close, and the prices of oil and gold sank 3.2% and 2.6% on […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: February 27 – March 5, 2021
February 26, 2021
Central Banks: Monetary policies will be reviewed in Australia, Sri Lanka, Malaysia, Ukraine and Poland. New York Fed President Williams speaks publicly, and the Fed Beige Book of U.S. regional economic conditions will be published. Holiday: In South Korea, Independence Day falls on Monday. Purchasing Manager Surveys: Surveys covering manufacturing, service sector activities, and construction […] More
New Overnight Developments Abroad - Daily Update
February Ends with a Snag in the U.S. Fiscal Package, Plenty of Price and GDP Data, and President Biden’s First Military Action
February 26, 2021
World financial are exiting February in a highly volatile conditions. Share prices tumbled today by 5.0% in Taiwan, 4.0% in Japan, 3.8% in India, 3.6% in Hong Kong, 2.8% in South Korea, 2.4% in Australia, and 2.1% in China. Equity markets in Europe are down 1.5% in the U.K., 0.9% in France and Italy, and […] More
New Overnight Developments Abroad - Daily Update
Many Data Released Today as Inflation fears Continue
February 25, 2021
Shortly before today’s release of U.S. economic data, 10-year sovereign debt yields were showing considerable increases (for example, 8 basis points in the United States and Italy, 12 bps in Canada, 6 bps in Spain and the U.K., 5 bps in Germany and France, and 2 basis points in Japan). The trade-weighted dollar had eased […] More
New Overnight Developments Abroad - Daily Update
Monetary Policy Differences Starting to Emerge Across Nations
February 24, 2021
The dollar weakened 0.7% overnight against its closest neighbors, the Mexican peso and Canadian dollar. The greenback also fell by 0.6% versus the kiwi, 0.2% relative to the yuan, and 0.1% vis-a-vis the Australian dollar and sterling but advanced 0.6% relative to the Japanese yen and 0.3% vis-a-vis the Swiss franc. Equities were clobbered in […] More
Deeper Analysis
U.S. Pandemic Trends Since the November Election
February 23, 2021
February 22nd used to be a national holiday celebrating the birth of George Washington in 1732, but it was a solemn occasion in America this year, as the number of identified U.S. deaths from Covid-19 surpassed half a million people. That’s greater than the number of combined U.S. deaths from World War II, the Korean […] More
New Overnight Developments Abroad - Daily Update
Watching Stocks, Long-Term Interest Rates, and Events on Capitol Hill
February 23, 2021
Futures trading on the Nasdaq, which fell over 300 points yesterday, are down an additional 1.4% this Tuesday. The half-percentage point rise in the U.S. ten-year Treasury yield since mid-December reflects speculation that inflation and growth may be stronger than assumed later this year but not so much so as to provoke the Fed into […] More
New Overnight Developments Abroad - Daily Update
Focus in Last Week of February to Be on U.S. Economic Policy
February 22, 2021
U.S. stock futures this Monday point to a lower open, with the S&P index down 0.8% and the Nasdaq off 1.4%. Share prices closed down 1.5% in China, 1.2% in New Zealand, 1.1% in Hong Kong and 0.9% in South Korea, while in Europe, equities are thus far down 0.5% or more in the U.K., […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: February 20-26, 2021
February 19, 2021
Central Banks: Monetary policies will be reviewed in New Zealand, China, Hungary, South Korea, and Colombia. Governors Macklem of the Bank of Canada and Orr of the Reserve Bank of New Zealand will be speaking publicly, and so too will New Fed District President Williams. Holidays and Events: Japan observes the Emperor’s birthday holiday on […] More
New Overnight Developments Abroad - Daily Update
Equities and Bond Yields Up… Dollar and Price of Oil Slip
February 19, 2021
Share prices advanced 0.7% in South Korea, 0.6% in China, and 0.5% in Indonesia. European markets and U.S. futures are up, too, but equities fell in Japan, Australia, New Zealand, and Singapore. Ten-year sovereign debt yields today climbed 6 basis pints in the U.K., 3 bps in the U.S. and Germany and one basis point […] More
