Chinese retail sales and industrial production

U.S. Debt Ceiling Obsession Progressively Crowding Out Other Issues

May 16, 2023

On this Tuesday, The second estimate of Euroland growth in 1Q was reported, leaving GDP unrevised at 0.1% higher than in the final quarter of 2022 and 1.3% above its year earlier level, down from four-quarter advances of 1.8% in 4Q 2022 and 5.5% in the first quarter of last year. Last quarter saw the […] More

Fresh Wave of Concern Surrounding Financial Institutions

March 15, 2023

Equities had rebounded Tuesday following U.S. government measures to protect depositors and amid a slew of reassuring comments from the experts that 2023 is not 2008. In Asia overnight, stock markets had climbed 1.5% in Hong Kong, 1.4% in Singapore, 1.3% in South Korea, and 0.6% in China where growth in retail sales (+3.5% year-on-year […] More

Intensifying Exodus from Equities

September 16, 2022

Led by a nearly 21% overnight plunge in Fed Ex shares, key U.S. stock market indices are down about 1%. Stock markets in the Pacific Rim had closed down 2.3% in China, 2.3% in China, 1.9% in Indonesia, 1.8% in India, 1.3% in Australia and 1.1% in Japan. The German Dax and Paris Cac are […] More

Dollar Up Amid Weaker-Than-Forecast Data Around the World

August 15, 2022

The weighted DXY dollar index is up 0.6% and near its overnight highs. Gains compared to Friday closing levels have been even higher relative to the Canadian dollar (1.0%), New Zealand dollar (1.3%), Australian dollar (1.2%) and Mexican peso (0.7%). The dollar has risen 0.6% vis-a-vis the euro, 0.5% versus sterling and 0.4%relative to the […] More

ECB Steals Some Attention from the Fed

June 15, 2022

An unscheduled meeting of the European Central Bank Governing Council has been underway for a bit over two hours to consider the bond market selloff and increasing fragmentation of that market that saw a 242-basis point spread at the close of Tuesday trading between 10-year Italian and German sovereign debt yields. That hasn’t be so […] More

Disappointing Chinese Data to Kick Off the Week

May 16, 2022

Investors got some bad news from April Chinese economic data and the European Union’s spring forecast. Equity markets closed down 0.3% in China, South Korea, and India but up 0.5% in Japan and 0.3% in Australia. The German Dax and Paris Cac are down 0.6% and 0.4%, and U.S. stock futures have dropped, too. Ten-year […] More

Stagflation Breezes this Ides of March

March 15, 2022

Concerns that China will pay a price for supporting Russia’s invasion of Ukraine led to a huge rout in the Shanghai equity exchange, which tumbled 5.6% today, as in its vassal Hong Kong, the Hang Seng plunged by a similar 5.7%. Equities also closed down 2.0% in Taiwan, 1.3% in India and 0.7% in Australia. […] More

Watching China and Central Banks

July 15, 2021

The U.S. dollar edged slightly higher overnight, with gains of 0.4% against the Australian and New Zealand currencies, 0.3% versus the euro, and 0.1% relative to the Swiss franc, loonie, and DXY weighted index. Alternatively, the dollar slipped 0.2% against the Chinese yuan and 0.1% versus sterling, while dollar/yen stayed steady. Share prices had climbed […] More

Ten-Year U.S. Treasury Stays Firm but Dollar and Equity Moves Have Been Muted

March 15, 2021

The ten-year U.S. Treasury yield is unchanged on balance at 1.62% after touching a 13-month high of 1.635%. The price of a Bitcoin moved briefly above $60,000 but also has settled back. The dollar has risen 0.5% against the Aussie dollar and 0.3% relative to the euro but only 0.1% against the yen, sterling, and […] More

Chinese Data, MLK Day and First Central Bank Rate Change of 2021

January 18, 2021

Financial markets this Monday will lack U.S. leadership due to the observance of MLK Day. In the wake of aroused racial strains that culminated in the 1/6 domestic terrorism attack on the nation’s capitol, there is extra poignancy to this year’s observance and uneasiness that more violence may mar this day. The National Bank of […] More