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
