Euroland retail sales and PPI
Ungovernable U.S. Congress Elevates Uncertainty But Dollar Softens Only Modestly
October 4, 2023
In a startling political development, the U.S. House of Representatives has no Speaker, and it could be quite a while before that critical vacancy is filled. Without that critical step, Congress will be rendered impotent. Ordinarily such a crisis might be expected to weigh discernibly on the dollar, but the other force strongly at play […] More
Taking Stock of the Mixed Signals of Recent Developments
August 3, 2022
Investors breathed a sigh of relief that the Pelosi visit to Taiwan is over but continue to worry that adverse geopolitical repercussions will outweigh any symbolic benefits. In its present fragmented political conditions, America could do without the trio of elevated tensions with Russia, China, and the Middle East. Yesterday’s primary U.S. elections demonstrated the […] More
Technical Recessions in Germany and U.K. and More Impeachment Drama in the U.S.
October 3, 2019
Composite purchasing manager surveys that embody non-manufacturing as well as manufacturing activity released for several countries in Europe by and large underperformed expectations. Most alarming were the reports for Germany and the U.K., each of which recorded slight contractions of real GDP in the second quarter. The German service sector PMI dropped 3.4 points in […] More
Trade Tensions Trigger Stampede Out of Risk
August 2, 2019
U.S.-China trade talks do not appear to be going well, and U.S. June trade data didn’t help investor confidence that the problem may get resolved. Stock markets and sovereign debt yields tumbled around the world, as investors ran from riskier assets. Among currencies, traditional safe havens like the yen (up 0.8% against the dollar overnight) […] More
