Euroland GDP
Few Rays of Hope
May 17, 2022
Euroland GDP growth last quarter was revised marginally higher. British labor market data showed greater resilience than imagined, and Chinese officials indicated progress against Covid and plans to reopen Shanghai. Recent U.S. earnings reports from retailers have exceeded expectations. Share prices rallied Tuesday, closing up 3.3% in Hong Kong, 2.6% in India, 1.0% in Taiwan, […] More
The Fact of Inflation Persistence is More Certain than Russia’s Claim to Be Partially Pulling Troops Back from the Russian Border
February 15, 2022
Stock markets rebounded Tuesday on reports out of Russia that some military forces at the border with Ukraine will be pulled back. President Putin’s real intentions remain to be seen. Nonetheless, Putin wasn’t expected to flinch, so the unexpected nature of his action triggered an initial sigh of relief from investors. Prices of WTI oil […] More
Dollar and Equity Markets Extend Recoveries
December 7, 2021
Identified Covid cases in America are zeroing in on the 50 million level since the start of the pandemic, including almost 119k cases yesterday. But there has been a sense of relief in the absence so far of evidence that the Omicron Variant will be associated with higher rates of hospitalization or deaths. Investors are […] More
Higher Long-Term Interest Rates Lifts Dollar and Depresses Stocks and Commodities
September 7, 2021
10-year sovereign debt yields are five basis points higher in the United States and Great Britain and up four basis points in Germany. The 10-year Japanese JGB yield, by contrast, is unchanged. The dollar rose 0.4% overnight against the DXY weighted index. The yen (up 0.3%) has outpaced the 0.1% upticks in the euro and […] More
Dollar Up 0.2% Against Euro, yen and Weighted index on Final Business Day of July
July 30, 2021
The U.S. currency also climbed overnight by 0.3% against sterling and 0.1% relative to the Swiss franc. However, equities have dropped, especially in Japan (-1.8%), Hong Kong (-1.4%), New Zealand (-1.2%), Spain and Taiwan (each down 0.9%), but also in Indonesia (-0.8%), the U.S. (Nasdaq -0.6% and S&P 500 down 0.4%), the U.K. (-0.5%) and […] More
Narrowly Mixed Dollar… Tuesday Data Menu Features GDP
June 8, 2021
The dollar slipped overnight by 0.4% against the Mexican peso, 0.3% relative to the Turkish lira and 0.2% versus the Swiss franc but rose but 0.2% versus the kiwi and sterling and 0.1% relative to the euro, yen, and Australian dollar. There’s been no net change in the Chinese yuan or Canadian dollar. Ten-year sovereign […] More
Equities Down and Dollar Weak but Little Changed Overnight
December 8, 2020
Senate Majority Leader McConnell has not yet lent his support to the bipartisan U.S. fiscal stimulus plan. Opinion polls suggest the all-important senate races in Georgia are both close, and unprecedented funds are being poured into both contests. The EU summit begins in two days, with fiscal stimulus and trade relations with the U.K. high […] More
Additional Leap in U.S. Covid Cases; Euroland 3Q GDP and U.S. PPI Headline Data Menu
November 13, 2020
The dollar is slightly weaker today, with overnight losses of 0.4% against the peso, 0.3% versus sterling, 0.2% vis-a-vis the yen and Australian dollar, and 0.1% relative to the Swiss franc. The dollar is also unchanged against the yuan and euro. Covid News continued to weigh on Asian equities, which dropped 0.9% in China, 0.7% […] More
Lots of Monthend Data, Fresh Covid Records, Disappointing Tech Earnings, and Home Stretch of the U.S. Election Campaign
October 30, 2020
Almost 600,000 new Covid cases worldwide have been identified in the past day, and the U.S. count exceeded 90,000 for the day and more than 9 million since the first case was reported. U.S. stock futures are down about 1% after several high tech firms reported weaker-than-forecast earnings for 3Q. Share prices in the Pacific […] More
A Many-Sided Investor Gloom
September 8, 2020
The U.S. Labor Day holiday pause didn’t restore stability to tech stocks, which continue to look overpriced and are set to fall sharply again this Tuesday. Talks between the EU and British government over a post-Brexit trade deal and between U.S. Republicans and Democrats over a fiscal stimulus package remain totally stalled, and it looks […] More
