Euroland GDP growth
With Lunar New Year Under Way, Volatility Persists in Equities and Inflation Worries Remain Uppermost
January 31, 2022
On this last day of January, the Chinese Year of the Tiger has trading shut in China, Hong Kong, Taiwan, and South Korea. The Japanese Nikkei took its cue from the strong U.S. stock market performance on Friday, but that rally looks short-lived with DOW and S&P futures down about a half percent and the […] More
Equities Down but Dollar Stronger as U.S. Retail Sales Take a Hit
August 17, 2021
Stock markets in the Pacific Rim on Tuesday fell by 2.0% in China, 1.7% in Hong Kong, 1.2% in Taiwan, and 0.9% in Australia, South Korea, and Singapore. Share prices thus far today in Europe are down 0.9% in Italy, o.7% in Spain, 0.4% in France and 0.2% in Germany. The key U.S. equity indices […] More
Dollar Up and Equities Down After Weak European GDP Data
April 30, 2021
The dollar advanced overnight by 0.8% against the Turkish lira, 0.3% relative to the Mexican peso and kiwi, 0.2% versus the euro, Aussie dollar and weighted dollar index, and 0.1% vis-a-vis sterling. The dollar also slipped 0.2% against the Canadian dollar and 0.1% versus the Japanese yen. Relationships against the Chinese yuan and Swiss franc […] More
Here Comes the Sun: Less Fear and More Hope
March 9, 2021
Investors are believing more and more that 2021 is gonna be a good year at least for those fortunate enough to have survived 2020. The OECD revised up projected growth this year rather substantially. The mistake of 2009 when the U.S. Congress opened fiscal spigots insufficiently isn’t being repeated. The $1.9 trillion American Rescue Plan […] More
A Rise in Equities, Sovereign Debt Yields, and the Dollar as GameStop and Silver Swoon
February 2, 2021
The price of GameStop has imploded about 60% in the past 24 hours, and the other notable short squeeze has fallen back 6.3%. The removal of these unhealthy elements in financial markets has been beneficial overall. The S&P, DOW, and Nasdaq each opened about 1% higher. In the Pacific Rim earlier today, stock markets closed […] More
A Fresh Worry: Chinese Growth Slowed Last Month
May 15, 2019
Asian stock markets had taken the North America upward cue, posting gains on Wednesday of 1.9% in China, 0.6% in Japan and Hong Kong, 0.4% in Taiwan, and 0.5% in South Korea but that was before news of soft Chinese industrial production, retail sales, and business investment. In European trading, stocks are down 1.0% in […] More
ECB Policy Shift Drives Stocks and Sovereign Debt Yields Lower, Dollar and Yen Higher
March 7, 2019
The Governing Council of the European Central Bank revised projected growth and inflation significantly downward, postponed the first possible interest rate hike to beyond 2019, announced a third round of quarterly targeted longer-term TLTROs to help “preserve favorable bank lending conditions and the smooth transmission of monetary policy,” retained a negative risk balance in spite […] More
In Suspense Ahead of Tariff Announcements
September 7, 2018
President Trump is expected to announce a huge ramp-up in tariffs next week, especially on imports of Chinese goods, and China will no to retaliate in kind. Some pundits worry this escalating trade war will hammer U.S. equities, depress U.S. growth, lift U.S. inflation, and further incentivize the FOMC to raise interest rates. Stocks in […] More
First-Quarter Euro Area GDP Growth
May 15, 2013
The single fact that the euro area’s economy contracted about a third as rapidly last quarter as it had in the final period of 2012 is about the extent of consolation one take take from today’s release of preliminary national income accounts. Only three of the seventeen members reported positive growth. Most had weaker growth […] More
