Euroland GDP growth

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

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