Deeper Analysis
April 2026 in Figures
April 30, 2026
A second full month has now passed without an end to the Middle East war that had been projected initially as likely to last only a few weeks. In March with world energy prices soaring like it was 1974, 1979 or the late summer of 1990, financial markets experienced a significant drop in the appetite […] More
Central Bank Watch
Interest Rates Kept Unchanged at Bank of England and European Central Bank
April 30, 2026
both the ECB and Bank of England interest rates were left unchanged as had been expected. The ECB deposit rates has been at 2.0% since a 25-basis point cut last June, while the Bank of England’s last rate change (also of 25 basis points) was done in December to 3.75%. The Bank of England’s decision […] More
Central Bank Watch
Rate Cut in Brazil
April 30, 2026
One economy where there has been an interest rate change involves the Brazilian Selic rate, which was sliced yesterday by 25 basis points to 14.5%. An initial easing of 25 bps had also been done in March, prior to which the Central Bank of Brazil‘s rate had stayed at 15.0% since last June. Considering that […] More
New Overnight Developments Abroad - Daily Update
Key Central Bank Decisions, Many Data Releases, Suspected Japanese Intervention, and A Possible Resumption of U.S. Military Attacks on Iran Vie for Investor Attention
April 30, 2026
Frustrated with the continuing effective shutdown of the Strait of Hormuz, President Trump is reportedly soliciting advice on the options for resuming military strikes against Iran, which he had hoped to avoid. The price of WTI oil briefly poked above $110.0 per barrel overnight but is quoted currently at $104.44, down 2.3% on balance. With […] More
Central Bank Watch
Comments on FOMC Statement and Press Conference
April 29, 2026
The significant change in this FOMC statement from the last one involves the votes. Once again only Governor Miran dissented in favor of a 25-basis point cut of the federal funds target. The eleven other votes favored leaving the target unchanged at 3-1/2 to 3-3/4% where such has been since December. In addition, three of […] More
Central Bank Watch
FOMC Preview
April 29, 2026
The last FOMC meeting occurred only 2-1/2 weeks into the Middle Eastern war. Seven additional weeks have elapsed, and a war that was not expected to last more than five weeks, if that, is still unresolved. A ceasefire has quelled outright conflict but the economic pressure points of the war — the global price of […] More
New Overnight Developments Abroad - Daily Update
Central Banks Move Further Into the Spotlight
April 29, 2026
The Federal Open Market Committee is expected to announce an unchanged federal funds target range of 3.50-3.75% at 14:00 EDT today. This is the last scheduled meeting of the Jay Powell chairmanship, although his Trump-nominated successor Kevin Warsh has not yet been confirmed by the senate. The last interest rate change was made in December. […] More
New Overnight Developments Abroad - Daily Update
A Fresh Upturn in Global Energy Prices as Trump is Said to Turn Down Iran’s Latest Deal Offer
April 28, 2026
The price West Texas Intermediate oil, now at $100.17 per barrel, is almost 4% above Monday’s closing level. Iran’s proposal, which addressed reopening the Strait of Hormuz but defers discussion of its nuclear development, never realistically had much chance of gaining Trump’s favor. The U.S. position has conditioned any reopening of the Strait on steps […] More
Central Bank Watch
State Bank of Pakistan’s Interest Rate Hike Catches Pundits by Surprise
April 27, 2026
There’s been an unexpected decision by officials at the State Bank of Pakistan to crank up their interest rate to 11.5% from 10.5%. Pakistan’s central bank rate crested at 22.0% for a whole year until June 2024 and as CPI inflation imploded from a 38.0% in May 2023 all the way to just 0.3% in […] More
New Overnight Developments Abroad - Daily Update
Fresh Peace Proposal From Iran as Traffic Through the Straight of Hormuz Remains Blocked
April 27, 2026
(142) The attention of financial markets quickly moved past the the failed politically motivated assassination attempt at the U.S. press corps gala on Saturday night and is focused squarely back on the Middle East war, now in its ninth week. The fresh development in that regard is a report that Iran is offering a new […] More
