composite and service PMIs
More Purchasing Manager Surveys and a Slightly Better Balance in the Global Oil Market
October 5, 2026
(119) The Group of Seven consisting of Germany, France, Japan, Canada, Britain, Italy and the United States agreed to release 100 million barrels of oil. Oil movements through the Strait of Hormuz are significantly above the minuscule pace earlier this year, and oil flows Saudi Arabia’s damaged East-West pipeline are largely restored. All that being […] More
Dollar Slides Back to End-2024 Levels
January 6, 2025
After rising in the initial business days of January, the U.S. currency hit a big bump overnight, dropping 1.4% against the Mexican peso, 1.1% versus the Australian and New Zealand dollars, 0.9% versus the Canadian dollar and euro, 0.8% relative to the South Korean won and sterling, 0.7% vis-a-vis the Swiss franc, but just 0.3% […] More
Further Big Rise in Bond Yields
January 4, 2024
Ten-year sovereign debt yields overnight rose by a further 13 basis points in Greece, 12 bps in Italy, 10 bps in Spain, 9 bps in France and Germany, 8 bps in the U.K. and seven basis points in the United States. Amid this backing up of long-term interest rates, equities remained on their back foot, […] More
Friday’s Sharp Market Shifts Remain Largely Intact
November 6, 2023
The markets saw a more dovish message from last Wednesday’s Federal Reserve press conference than I and were therefore preconditioned to react to Friday’s weaker-than-forecast U.S. jobs report and ISM services and composite purchasing manager survey results, which sent equities soaring and both the dollar and long-term interest rates falling. In the Pacific Rim, share […] More
