ECB minutes
Uncertainty Reigns Yet Little Has Changed
April 16, 2026
The Middle East’s future evolution remains unclear. Both sides want to avoid a resumption of the fight but still can’t find mutually acceptable terms for an extended peace. Equally uncertain is the economic repercussions of the war, which will be felt in most countries but in asymmetric ways. Barring a fresh turn for the worse, […] More
Revised U.S. GDP, Euroland Economic Sentiment, and ECB Minutes in Today’s Headlines
August 28, 2025
The dollar lost marginal ground overnight, including dips of 0.2% against the euro and yen. In contrast to one-basis point upticks in the U.S. and German ten-year sovereign debt yields, those of other key economies slipped such as 3 basis points in Italy, two bps in France and Great Britain, and one basis point in […] More
Awaiting U.S. Labor Statistics, Trump’s Fiscal Package and ECB Minutes
July 3, 2025
Financial markets are waiting and seeing ahead of today’s one-day early release of June U.S. labor market statistics. Considerable progress was made overnight toward a likely passage by the House of President Trump’s tax and spending bill, setting the stage for its signing into law tomorrow. Minutes from the last European Central Bank will also […] More
The Sounds of Chaos
May 22, 2025
In the wake of the tax-cutting and deficit-engorging bill approved by the U.S. House of Representatives last night, The 30-year Treasury bond yield rose as high as 5.154%, its most elevated level since mid-2007 just weeks before the start of the subprime financial market crisis that triggered the global great recession. Ten-year bond yields climbed […] More
Stagflationary Concerns
February 27, 2025
The investment community remains concerned that President Trump’s revolutionary policy agenda, which is proceeding at Blitzkrieg speed, will introduce upside inflationary risks and downside growth risks. The concerns are limited to the U.S. economy. Europe is likely to fair even worse and possibly Asia, too. The disparate possibilities are reflected in today’s market action. The […] More
Spotlight Today on Central Banks
May 10, 2024
Published minutes from the April European Central Bank Governing Council meeting observe an ongoing and projected moderation of wage pressures, downwardly skewed growth risks, and diminishing public concern shown in survey evidence that inflation in the long term will stay above target. Inflation is projected to be at target by the middle of next year, […] More
Better Market Tone Than Earlier This Week
April 4, 2024
There’s an old adage not to bet against the central bank. Market participants earlier this week had been unnerved by fears that disinflation is stalling amid improving aggregate demand. Yesterday’s speech at Stanford University by Fed Chairman Powell depicted essentially unchanged forward policy guidance. The precise path of the federal funds target may be currently […] More
Financial Markets Pause Amid Some Bargain-Hunting
January 18, 2024
Most stock markets rose overnight, breaking the recent streak of early-2024 declines. The Hong Kong’s Hang Seng advanced 0.8%, and Indonesian share prices closed 0.7% higher. The markets in China and Taiwan each closed 0.4% higher, and those in Germany, France and Italy are presently up by 0.8-1.1%, as is the Nasdaq in pre-open trading. […] More
U.S. CPI, Russian Capital Controls & Revealing Minutes From the ECB Governing Council Meeting
October 12, 2023
The dollar largely marked time prior to the 08:30 EDT release of U.S. consumer price data, losing 0.2% versus the Swiss franc, dipping 0.1% against the yen and as measured by the weighted DXY index, holding unchanged against the euro and sterling but advancing 0.1% against the Canadian and Australian dollars. The biggest move was […] More
Varying Central Bank Interest Rate Changes to Tackle Inflation
October 6, 2022
The global environment of high inflation, slower economic growth, and central banks raising interest rates has favored the dollar. The weighted DXY dollar index climbed 0.4% overnight. Although the poorly received plan to eliminate the highest British tax bracket has been withdrawn, British financial markets remain especially vulnerable. Sterling is 0.5% weaker today against the […] More
