Chinese money growth

Fragile Market Conditions

February 12, 2018

Stocks rose, and the ten-year Treasury yield of 1.84% is five basis points below the recent peak. However, the rhetoric of comments about the market sounds unconvinced that last week’s extreme turmoil is out of the system.  The DOW at this hour shows a rise of 0.8%, but the S&P 500 is only 0.3% firmer. […] More

Markets React Calmly to Terrorist Explosion in NYC

December 11, 2017

A bomb carried by Bangladeshi suicide bomber seems to have exploded prematurely at the New York Port Authority bus terminal at around 07:30 am this morning, producing only 3 minor injuries other than to the Terrorist assailant. Compared to Friday closing levels, the dollar is down 1.2% versus the kiwi, 0.6% relative to the yen, […] More

Sterling Extends Rally

September 15, 2017

Sterling rose another 1.4% against the dollar overnight, at one point reaching $1.3617, which is the strongest level since the first day following last year’s Brexit referendum on June 23rd. The Bank of England has signaled that its first interest rate hike in a decade is likely to occur within a few months. It’s been […] More

Reduced Fear of Korean War

August 15, 2017

Today is the 72nd anniversary of Korea’s liberation from Japan, and markets there are closed. Reported remarks by the leaders of both Korean nations dispelled fear of an imminent resumption of war. Markets were also closed today in India for a holiday commemorating the 70th anniversary if independence and Italy for Assumption Day. The dollar […] More

Swiss National Bank Lights a Firestorm and India’s Central Bank Also Surprises

January 15, 2015

There’s been a whole lot of shaking going on in world financial markets overnight. Dollar/Swissie plunged 14.2%, and Swiss equities have slumped 9.5%.  The trigger for these big moves was the Swiss National Bank’s abandonment of its 1.2000 franc per euro ceiling, which was imposed initially on September 6, 2011.  The cost of intervention was […] More

Asian Equities Rally on Heightened Hopes of Chinese and ECB Support

May 12, 2014

Stocks in the Pacific Rim advanced by 2.4% in Indonesia, 2.2% in China, and 1.8% in Hong Kong.  Japan’s Nikkei slipped 0.4%, but share prices in Europe are up 0.8% in Germany and Italy, 0.4% in Spain, 0.3% in Britain, and 0.2% in Switzerland. Draghi’s press conference remark on Thursday that the Council is comfortable […] More

Festering Concerns

April 15, 2014

Russia appears to be doing to Eastern Ukraine what it did in Crimea, and the West seems powerless to resolve the crisis. A day ahead of China’s release of first-quarter GDP, analysts anticipate a sub-7.5% growth rate. The ZEW Institute measures of investor sentiment toward Germany and the euro area fell in March. Investors await […] More

Euro, Stocks, and Bond Yields Drop Further

July 12, 2012

The euro fell 0.4% against the dollar, declining below $1.2200 and to within three cents of its June 2010 low.  The dollar has advanced by 1.3% and 1.2% against the commodity-sensitive New Zealand and Australian dollars.  The greenback fell 0.5% against the yen but is  higher by against the Swiss franc, 0.4% relative to the […] More

Market Eyes on Europe

January 9, 2012

French President Sarkozy and German Chancellor Merkel are holding talks today in Berlin.  A fair number of European economic statistics were released.  Governments in Spain, Italy, and Greece plan debt auctions this week, and monthly interest rate policy meetings take place Thursday at the ECB and Bank of England.  Japan was closed for Coming of […] More

11-11-11: One’s Are Wild

November 11, 2011

It’s Veterans Day in the United States, France and Canada.  The Armistice to end the First World War was signed 93 years ago today.  Overnight market activity was comparatively subdued, but closures for today’s holiday will be only partial.  U.S. stock markets are open. The new Greek cabinet to be headed by Lucas Papademos has […] More