Euroland GDP and CPI

Breeze of Risk Aversion Returns

October 31, 2022

U.S. stock futures are about 0.5% lower. With the FOMC meeting this week, investors are having second thoughts that it will be signalling a pause in monetary tightening to assess the impact of the restraint that’s now in the pipeline. Five-month lows reported in the government-compiled Chinese composite and service sector purchasing manager indices to […] More

End-Month Data Storm

July 29, 2022

The last business day of each month tends to experience a load of economic data reports, and July has been no exception. A market misconception caused by a policy dynamic fraught with uncertainty that translates into lessening transparency about future policy has complicated the task of reducing inflation. I personally did not think that Powell’s […] More

Concerns about Corporate Earnings

April 29, 2022

Led by the tech sector especially pre-open declines of nearly 10% in Amazon and 2.5% in Apple, U.S. stock futures are lower on this final trading session of the difficult month of April. Amazon reported a quarterly drop in earnings, and Apple warned of persistent supply delays. Having touched a 19-year weighted high on Thursday, […] More

Sobering Data

October 29, 2021

A round of risk aversion depressed equities but lifted the dollar and 10-year bond yields on Friday. The price of gold dipped below $1,800 per ounce. Ten-year German bund and British gilt yields rose five basis points overnight, and the 10-year Treasury yield is 3 bp higher. Share prices fell 1.3% in South Korea, 1.4% […] More

Monday Night Massacre, Lots of Released Data, and a BOJ Meeting

January 31, 2017

President Trump sacked Acting Attorney General Sally Yates late last night, who had refused to enforce his selective immigration ban, and replaced her with Dana Boente. The firing stirred recollections of Nixon firing of Eliot Richardson and Bill Ruckelshaus when they wouldn’t fire Watergate Special Prosecutor Archibald Cox in October 1973. In other U.S. political […] More