Euroland CPI
Monthend, Quarterend, and a Flood of Rain and Data Reported
September 29, 2023
The 10-year U.S. Treasury yield was at 4.55% just prior to 08:30 EDT, down from Thursday’s intra-day and 194-month high of 4.68%. This respite was aided by some remarks from Fed officials suggesting that coming rate moves have not been decided yet. German, French, Spanish and Italian 10-year sovereign debt yields are 7-8 basis points […] More
Move Out of Equities Drives Back Long-Term Interest Rates
August 18, 2023
Ten-year sovereign debt yields dropped overnight by 11 basis points in Italy, 10 bps in Germany, France and Spain, 7 bps in Great Britain, 4 bps in the United States and 1 basis point in Japan. Global equity markets experienced their most difficult week in five months. The tide didn’t turn as the week draws […] More
Investors More Hopeful Than Yesterday about Debt Ceiling Talks
May 17, 2023
The dollar rose overnight by 0.8% against the Mexican peso, 0.6% versus the Japanese yen and Swiss franc, and 0.4% relative to the euro. The Japanese Nikkei closed up 0.8%, but share prices in Hong Kong, Singapore, South Korea, India and Australia closed lower. Continental European equities are slightly higher, and so are the DOW […] More
Factory Purchasing Manager Surveys, An Australian Central Bank Rate Hike, and Much More
May 2, 2023
It’s been a busy Tuesday from an event and data-release standpoint, but financial market movements have been more measured. Drops of 1.0% against the Australian dollar and 0.7% versus the New Zealand dollar followed the Reserve Bank of Australia’s 25-basis point rate hike after having paused tightening in March. Against other currencies, however, the dollar […] More
Reacting to FOMC Minutes and Awaiting More U.S. Data Reports
February 23, 2023
FOMC minutes published Wednesday afternoon confirmed that some policymakers at the Fed leaned toward a 50-basis point hike rather than the 25-bp increase agreed upon. Consideration of a pause in tightening was off the table, and there was widespread consent that more rate hikes will be necessary. Investors now await revised 4Q U.S. GDP figures, […] More
Month-End, Powell’s Speech, and a Whole Lot of Released Data to Digest
November 30, 2022
Investors are awaiting Fed Chairman Powell’s luncheon speech today at the Brookings Institution, scheduled to start at 13:30 EST (18:30 GMT). The last business day of each month typically offers a very heavy menu of released data. November saw the biggest monthly drop in the dollar in over a decade, as long-term interest rates fell […] More
Don’t Even Think that Monetary Tightening Is Going to Pause
November 17, 2022
Central bankers in the United States and around the world are doubling down to quell any investor notions that monetary tightening is about to pause while assessing the delayed results of restraint already in the pipeline. That was the message from recent comments by the Kansas City and San Francisco Fed Presidents and the actions […] More
Intensifying Exodus from Equities
September 16, 2022
Led by a nearly 21% overnight plunge in Fed Ex shares, key U.S. stock market indices are down about 1%. Stock markets in the Pacific Rim had closed down 2.3% in China, 2.3% in China, 1.9% in Indonesia, 1.8% in India, 1.3% in Australia and 1.1% in Japan. The German Dax and Paris Cac are […] More
Dollar Trading Near 20-Year High as Markets Digest Data Storm
August 31, 2022
The dollar rose overnight by 0.5% against the Swiss franc and 0.4% versus sterling and continues to hover around parity with the euro. Equity markets closed down 0.8%, 0.6% and 0.4% in China, Singapore and Japan but climbed 2.7% in India and 1.0% in Taiwan. European stock markets are moderately lower, while U.S. share prices […] More
Central Banks See Little Alternative but to React to Elevated Inflation
August 18, 2022
The reinforcing cycle of high inflation and rising central bank interest rates has made a favorable environment for the dollar, which rose another 0.2% overnight against the yen, euro, yuan, peso and on a DXY weighted basis. The U.S. currency also climbed 0.4% versus the kiwi and 0.3% relative to the Swiss franc but is […] More
