Weaker Japanese and Chinese Share Prices

March 28, 2013

Equities slumped 3.3% in China on fear of more property market curbs.  Weakness was concentrated in financials.  The decline occurred in spite of data showing a strong 17.2% on-year advance in Chinese corporate earnings. The Japanese Nikkei fell 1.3% on the next to last day before the end of the fiscal year.  Bank of Japan […] More

U.S. to Release Several Indicators Today

March 26, 2013

Misgivings persist over the Cyprus bailout, which continues to be handled clumsily.  Banks in that country remain closed today and tomorrow.  European finance ministers first suggested the deal might be a trendsetter for other banking systems in trouble but then reverted to calling Cyprus a special case. Attention now shifts to the United States.  In […] More

Still No Resolution in Cyprus

March 22, 2013

The Cypriot government has until Monday to raise EUR 5.8 billion, or the country will not receive bailout money from the ECB troika.  A rumor that Laiku Bank might close sent depositors scrambling to ATMs.  Not much data were released overnight.  The IFO business climate index for Germany was the main item, and it was […] More

A Day of Big Events

March 20, 2013

The proposed levy on Cypriot bank deposits was rejected by that country’s parliament by a vote of 36 to zero with 19 abstentions.  Tremendous uncertainty surrounds the scramble for an alternative plan to secure bailout aid and how this development might hurt the post-OMT stabilization of Ezone and global financial markets.  Cyprus constitutes just 0.2% […] More