December, 4Q12, and 2012 in Figures

January 2, 2013

Fiscal cliff worries depressed the dollar but did not prevent a rise of equities in December.  Stocks also posted gain in 2012 as a whole.  For the year, interest rates fell both in short and long maturities, particularly in Germany.  The dollar rose nearly 13% in 2012 but lost ground otherwise.  Gold climbed  7% from […] More

November in Figures

November 30, 2012

Ten-year yields fell in November, whereas short-term rates were steady.  The dollar hardly changed on balance except in the case of the yen, which appreciated 3.3%.  U.S. equities under-performed other stock markets.  Japan’s Nikkei advanced 5.8%.  West Texas Intermediate crude oil prices climbed 3.1%, while gold closed the month 0.4% lower on balance. 10-Yr Yield […] More

Continuing Slide in Share Prices

November 16, 2012

Equities in Europe show further losses so far today of 1.4% in Italy, 0.6% in Germany, Britain and Spain, and 0.3% in France.  Share prices also fell 0.9% in India, 0.8% in China, 0.5% in South Korea and 0.3% in Australia.  Contrary to the trend in most other bourses, Japan’s Nikkei-225 index jumped 2.2%.  Japanese […] More

A Substantial Downward Break in Share Prices

February 27, 2012

Equities dropped by 2.7% in India, 1.9% in The Philippines, 1.6% in Sri Lanka, 1.4% in South Korea, 1.1% in Singapore, 1.0% in Thailand, and 0.9% in Australia, Indonesia and Hong Kong.  In Europe, the British Ftse has so far lost 1.5%, and the German Dax and Paris Cac show declines of 1.2%. Japan’s Nikkei […] More

Quarter-End Distortions

September 29, 2011

Markets can get flooded around quarter-end periods by a rush of data releases and transactions inspired by accounting objectives. Investors continue to watch the unfolding European debt crisis.  Germany’s parliament is expected to approve the expanded EFSF facility today, but the vote will be a barometer of the support Chancellor Merkel retains from her own […] More

Only a Brief Respite after G20 Communique

September 23, 2011

Today is the first day of the semi-annual IMF/World Bank meetings in Washington.  G20 finance ministers and central bankers released a statement overnight that promised a coordinated response to five identified downside risks: Contagion from sovereign debt stresses. Financial systems fragility. Market turbulence. Weak economic growth. Unacceptably high unemployment. European share prices initially rose after […] More

January 14, 2000: A Date to Remember

August 23, 2011

January 14, 2000 is a well-suited statistical benchmark for assessing the U.S. economy.  If February 3, 1959 was the day the music died as immortalized in Don McLean’s ballad American Pie, calling January 14, 2000 the day the American economy died is only a slight overstatement because the before-and-after performances around that milestone are so […] More

Equities Continued Their Retreat as New Week Begins

May 16, 2011

Stocks are down 1.4% in Germany and France and by 0.8% in Britain.  They fell 1.4% in Hong Kong, 1.3% in Australia, 1.1% in Taiwan, 1.0% in India, 0.9% in Japan, China and Indonesia, and 0.8% in South Korea. Oil prices dropped 1.8% to $97.88 per barrel, while gold is trading 0.2% softer and below […] More

Dollar Stronger But Stocks and Bond Yields Fall

January 5, 2011

The dollar rose overnight by 0.6% against the euro, 0.5% relative to the Aussie dollar, and 0.3% versus the yen, Swissy, and kiwi.  The dollar edged up 0.1% against the yen, shows no change against sterling and has softened 0.3% relative to the Chinese yuan.  Investors continue to react to yesterday’s FOMC minutes, which presented […] More

Relentless Concern about Advanced Economies

November 16, 2010

The take-no-prisoners angered folk of the U.S. Republican Party have turned their sights on the Bernanke-led Federal Reserve.  QE2 has been associated with rising long-term interest rates, not the decline it was intended to promote.  Stocks got pummeled overnight. In Europe, Britain announced a further and unexpected rise in CPI inflation, and Bank of England […] More