March and the First Quarter in Figures

April 1, 2016

March was unlike January and February.  Ten-year sovereign bond yields edged a little higher last month but recorded substantial declines in the quarter.  Equities likewise performed well in March, but quarterly changes in share prices ranged from modest gains in the S&P 500 and Dow Jones Industrials to double-digit net losses in the Japanese and […] More

February in Figures

March 1, 2016

In February, most 10-year sovereign debt  yields fell significantly further.  Short-term money market rates edged up in the United States but fell in the eurozone and Japan.  The dollar rose against sterling but fell, especially relative to the yen, versus other currencies examined in this monthly feature. Equities for the most part lost further ground especially […] More

September and the Third Quarter in Figures

October 1, 2015

The dollar and yen strengthened in September, while equities and commodities fell globally.  Sovereign debt yields dropped sharply in the United States, Britain and Germany but only marginally in Japan, Canada, and Switzerland.  The third quarter equity performance was the worst in several years, and WTI crude oil collapsed 24.2%.  The dollar in 3Q advances sharply […] More

August in Review

September 1, 2015

A possible global bear market in equities took shape increasingly as August unfolded.  Currency markets were dominated by the fall-out of the Chinese yuan devaluation, namely a decline of the dollar against the yen and euro and generally weak commodity-sensitive currencies.  A significant rise of 16 basis points occurred in the 10-year German bund yield, […] More

July in Figures

August 1, 2015

In July, oil plunged slightly more than 20%, sovereign debt yields fell, the dollar strengthened, and equities were volatile.  All the share price indices shown in the table below closed higher, except the Toronto exchange.  But emerging market equities especially in China, had rough going during the months.  Oil was not the only commodity to […] More

March and the First Quarter in Figures

March 31, 2015

Sovereign debt yields fell significantly during the first quarter of 2015.  In Switzerland’s case, so did short-term interest rates.  The dollar extended its rise against the euro, sterling, and commodity-sensitive monies, was steady against the yen and yuan, and fell against the Swiss franc despite a 1.9% rise in March against that currency.  Dollar strength […] More

October in Review

November 2, 2014

Most long-term interest rates declined in October.  Little change in three-month interest rates masked a widening polarization of monetary policies, as the Fed ended quantitative easing, the Bank of Japan augmented quantitative stimulus, and ECB officials remained publicly divided over whether to stimulate further and how to do so.  The dollar strengthened most sharply against […] More

August in Figures

August 30, 2014

Long-term interest rates fell substantially in August.  Stock markets, with the notable exception of Japan, recorded gains, and the U.S. performance was the best in a half year.  The dollar rose against the euro, Swissie, sterling, yen and kiwi but fell marginally against the loonie, yuan and Australian dollar.  Short-term interest rates were narrowly mixed […] More

July in Figures

July 31, 2014

Like an Olympic bicycle racing event, most of the financial market action in July happened at the end of the race.  For the month as a whole, the dollar mostly rose, while share prices, commodities and bond yields mostly fell.  None of the dollar’s year-to-date movements exceeded +/- 4.0%. 10-Yr Yield 07/02/14 Chg vs End-2Q […] More

February in Figures

February 28, 2014

February was a very different month from January in several market respects.  In January, the dollar mostly rose, while equities declined for the most part.  Both trends reversed in February.  Net movement in ten-year sovereign debt yields this past month were insignificant is size in contrast to their substantial declines in January.  West Texas Intermediate […] More