fiscal cliff

Christmas Break

December 25, 2012

Financial markets are closed today throughout Europe and in the United States, Canada, Australia and New Zealand.  The most notable exception was Japan, which opened after a three-day weekend observing the Emperor’s birthday.  Many places will stay shut for Boxing Day tomorrow, such as Britain, Hong Kong, Australia, Canada, Greece and Italy. In Japan, an […] More

Investors Heartened by Reported Progress on Fiscal Cliff Talks

December 18, 2012

Share prices rose overnight by 1.0% in Japan, 0.6% in India, 0.5% in Australia, 0.3% in New Zealand and Thailand, 0.2% in Taiwan and the Philippines, and 0.1% in China.  In Europe, equities have advanced 0.7% in Madrid, 0.4% in Frankfurt and Milan, and 0.3% in London, but the Paris Cac is off 0.1%. Not […] More

Concern over Chinese Growth and U.S. Fiscal Cliff Threat

November 28, 2012

Mounting risk aversion has sent the euro lower and the yen higher.  Commodities, stocks, and sovereign debt yields are lower. The Shanghai Composite index fell another 0.9% and further below the key 2000 level to 1974. The 10-year Japanese JGB yield dipped a basis point to a 9-year low of 0.72%. At $1.2900 per euro, […] More

New OECD Growth Forecast

November 27, 2012

The 92nd semi-annual Economic Outlook from the Organization of Economic Co-Operation and Development has revised world GDP growth next year downward to 3.4% from a prior forecast of 4.2%.  The growth estimate for calendar 2014 is 4.2%.  Among the 34 countries that are in the OECD, growth is projected to climb only 1.4% in calendar […] More

Thanksgiving Week Starts on Optimistic Note

November 19, 2012

This will be a holiday-shortened week in the United States.  Japanese markets will be closed Friday for Labor Thanksgiving. In today’s session so far, European share prices have rallied 1.4% in France, 1.3% in Germany, 1.2% in Italy, 1.0% in Britain, and 0.7% in Spain.  The Japanese Nikkei climbed 1.4% and closed above 9100.  Stocks […] More