euro area current account

A Fresh Wave of Risk Aversion

March 22, 2019

There’s been a big move into safe assets, reflecting three developments since Wednesday: The Fed’s decision was more dovish than expected, putting interest rate normalization on hold for all of 2019 and ending the balance sheet rundown after September. EU leaders put Britain on a short leash to decide on its Brexit plan. While March […] More

Softer Equities and No Trade Deal Yet

November 19, 2018

Stocks have begun another week on a downbeat. The DOW is off slightly more than 1.0%. Share prices fell 0.6% in Germany, France and Australia but firmed 0.7% in Japan. The dollar is softer, too, with losses of 0.4% versus the euro, 0.3% vis-a-vis the yen and sterling, and 0.2% against the Canadian dollar. However, […] More

Not Much Happening at the Solstice

June 20, 2014

The dollar is up 0.3% against the kiwi and shows upticks of 0.1% versus the euro, yen, Swissie, sterling, and Australian dollar.  The dollar is 0.1% softer relative to the yuan. The ten-year British gilt yield firmed three basis points.  The equivalent German bund is a basis point higher, but the Japanese JGB dipped a […] More

Four Central Banks in the Spotlight

May 21, 2014

Minutes from the Bank of England’s meeting on May 7-8 revealed an increasing inclination by some members of the Monetary Policy Committee to entertain the thought of starting to raise interest rates, but the vote against doing so at that meeting remained unanimous.  The debate is focused on determining how much slack remains in the […] More

A Busy Day

May 22, 2013

Many things are happening today.  One spotlight is on central banks.  The BOJ did not change policy of aggressive quantitative easing.  The economic assessment was upgraded, but market players are somewhat disappointed that no concrete modifications were announced to stop the erratic yet sharply rising trend in JGB yields, which have roughly doubled since early […] More