Uncategorized
Optimism Bumps Up that Recovery Can Withstand Covid, Higher Inflation, and Central Bank Tightening
October 14, 2021
Equities have experienced a better session, with higher closes in Asia of 1.5% in Japan and South Korea and 1.4% in Indonesia. Hong Kong was closed for the Chung Yeung festival. The German Dax, Paris Cac and British Ftse are respectively up 0.9%, 1.0% and 0.7%, and U.S. futures point to similar gains. The move […] More
Next Week’s Menu: October 9 – 15, 2021
October 8, 2021
Central Banks: Monetary policies will be reviewed in South Korea, Sri Lanka, and Chile. FOMC minutes will be published. We’ve also entered a window when President Biden will be revealing his nomination for Fed Chair-person. It could be another 4-year term for Jerome Powell, whose current term ends in January, or somebody else. Four years […] More
Considerable Central Bank News and a Whole Lot More
September 23, 2021
The takeaways from Fed Chairman Powell’s press conference yesterday are that a tapering of Fed bond purchases could begin as soon as right after the next scheduled FOMC meeting and should be drawn down to zero by mid-2022, plus the lift-off date for the fed funds target could occur next year rather than in 2023. […] More
FOMC Preview
September 22, 2021
Today’s FOMC news is awaited for several reasons. The statement, less than half an hour away, is expected to confirm that quantitative tapering will begin next quarter even thought Covid trends have been worse than hoped of late and are having an adverse economic effect. The spike in inflation is persisting longer than had been […] More
Next Week’s Menu: September 4 – 10, 2021
September 3, 2021
Central Banks: Monetary policies are being reviewed at the European Central Bank and in Poland, Russia, Australia, Canada, Ukraine, Malaysia, Peru, and Serbia. NY Federal Reserve President Williams, ECB President Lagarde, Bank of Canada Governor Macklem, and Reserve Bank of Australia Deputy Governor Debelle are some of the central bank officials speaking publicly in the […] More
July 2021 in Figures
July 30, 2021
In July the dollar closed virtually unchanged from its midyear value against its DXY weighted index. The U.S. currency fell against other perceived safe havens like the yen and Swiss franc but rose 2.1% against the Australian dollar. The ten-year U.S. Treasury yield dropped 24 basis points, similar to the size of the drop in […] More
Next Week’s Menu: July 24 -30, 2021
July 23, 2021
Central Banks: There is a two-day FOMC meeting with Powell’s press conference to follow Wednesday. Policy meetings are also scheduled in Colombia and Hungary, and the Bank of Japan will publish a summary of its most recent policy review. U.S. Statistical Releases Next Week: Quarterly GDP and employment cost index. Monthly personal income, spending & […] More
June 2021 and Second Quarter in Figures
June 30, 2021
The dollar was strongly bid against other currencies and gold during June but lost modest ground over the course of the whole second quarter. Although all the central banks highlighted in the feature did not change interest rates during the second quarter, Fed officials signaled that quantitative easing is likely to begin sooner that thought […] More
Next Week’s Menu: June 12 – 18, 2021
June 11, 2021
Central Banks: Monetary policies will be reviewed in the United States, Japan, Indonesia, Turkey, Brazil, Switzerland, Norway, Ukraine and Taiwan. Fed Chairman Powell, BOJ Governor Kuroda, Reserve Bank of Australia Governor Lowe, and Swiss National Bank President Jordan will be speaking publicly. RBA minutes to be published. Events and Holidays: U.S. President Biden’s trip to […] More
Half Percentage Point Central Bank Interest Rate Hike in Russia
June 11, 2021
A third successive hike of the Central Bank of Russia has been engineered, and its 50-basis point increase to 5.5% exceeded forecasts of a 25-basis point move. The rate had been raised by 50 basis points in April and 75 bps in May. A statement from the Board of Directors after the scheduled policy […] More
