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U.S. GDP, PCE Price Deflator, and the Preliminary February Purchasing Manager Surveys Top Friday’s Menu
February 20, 2026
The dollar was narrowly mixed just prior to the eagerly awaited twin-bill of U.S. economic data releases, unchanged against the euro and loonie, 0.3% higher relative to New Zealand’s currency, 0.3% stronger against the Mexican peso, and 0.1% firmer relative to the yen and Swiss franc. Ten-year sovereign debt yields had fallen overnight by three […] More
Markets Focused on Data Releases and Awaiting FOMC Minutes of January’s Meeting
February 18, 2026
The dollar is mostly narrowly mixed today, but a 0.8% rise against the New Zealand dollar (aka the kiwi) has been an exception. The U.S. DOW, SPX and Nasdaq in futures trading are around 0.3%. Many Asian stock markets remain closed for the extended lunar year holiday. Those that were open tended to rise, including […] More
Weaker Dollar and Huge Election Victory for Japanese PM Takaichi’s LDP Party
February 9, 2026
(153) In lower house Japanese parliamentary elections yesterday, the ruling Liberal Democratic Party won 316 of 465 contested seats, up from 198 in the previous election and exceeding their prior record high of 300 in the 1986 election. Yesterday’s landslide win also surpasses the two-thirds threshold that will prevent the lower house from stopping any […] More
Next Week’s Menu: February 7-14, 2026
February 6, 2026
Central Banks: Interest rate settings will be reviewed in Russia, Peru, Serbia, Egypt and the Philippines. Hammack, Bostic and Logan of the Federal Reserve and Hunter and Hauser of the Reserve Bank of Australia will be speaking publicly. Japanese Holiday and Event: National Foundation Day falls on Tuesday, and lower house parliamentary elections are set […] More
Investors Being Cautious Amid Elevated Economic and Geopolitical Uncertainty
January 8, 2026
Yesterday’s declines in equity prices have been extended. U.S. stock futures are around 0.5% lower prior to the release of U.S. statistics today of jobless insurance claims, the trade balance, consumer price expectations and labor productivity, as well as tomorrow’s most eagerly awaited labor situation figures. Stock markets in Asia closed down 1.6% in Japan, […] More
This Week’s Menu: January 3-9, 2026
January 3, 2026
Central Banks: The Bank of Israel holds its first interest rate review of 2026. Federal Reserve officials speaking publicly during the coming week will be Kashkari, Bowman, Barkin, and Paulson. Cipollone, Marderer, and Guindos of the European Central Bank also have speaking engagements. Event and Purchasing Manager Surveys: OPEC and non-OPEC ministerial meeting tomorrow. Over […] More
Closing in on the End of 2025
December 30, 2025
The release this afternoon of minutes from the FOMC’s policy review earlier this month will be the last meaningful economic event of this year. Many stock markets will in fact be closed tomorrow, including those in Japan, Germany, Italy, Switzerland, Sweden, Argentina and Venezuela. Others will close early such as those in Great Britain, France, […] More
Next Week’s Menu: December 20-26, 2025
December 19, 2025
Central Banks: Monthly fixing of China’s Loan Prime Rates. The Bank of Japan will publish Board minutes, and BOJ Governor Ueda delivers a speech. Holidays and Special Event: Most markets, including those in the United States, Switzerland, Germany, France, Italy, New Zealand, Australia, Canada, Ireland and Great Britain will be closed on Thursday for Christmas, […] More
Next Week’s Menu: December 13-19, 2025
December 12, 2025
Central Banks: Monetary policy stances will be reviewed at the European Central Bank, Bank of Japan, Bank of England, and also in Norway, Sweden, Indonesia, Hungary, Thailand, Mexico, Russia, Czech Republic and Jamaica. Fed officials speaking publicly during the period include Miran, Waller, Williams, and Bostic. The Bank of Japan’s quarterly corporate survey, known as […] More
Investors Positioning for Likely Fed Reserve Rate Cut from FOMC Meeting that Starts Tomorrow
December 8, 2025
(162) The 10-year U.S. Treasury yield rose five basis points overnight in anticipation of a 25-basis point cut likely to be announced on Wednesday. This increase exerted a similarly-sized increase in other 10-year sovereign debt yields, for example of 8 bps in Spain, 7 bps in Spain, 6 bps in Germany and Great Britain, 5 […] More
