Lower Long-Term Interest Rates and a Focus on Monetary Policies

July 18, 2012

The yields on 10-year German bunds, British gilts and Japanese JGBs edged down by three, two and one basis points.  A drop is also signaled in U.S. Treasury yields.  Over the month since June 18, German bund and British gilt yields have dropped by 21 and 18 basis points.  Treasury and JGB yields are down […] More

Bank of Japan Easing Catches Some Analysts By Surprise

February 14, 2012

The yen weakened 0.6% against the dollar, and the Nikkei index of Japanese share prices went up 0.6% in response to BOJ actions. Japan’s central bank designated 1.0% as a medium-term operational core CPI target and vowed not to end its virtual zero interest rate policy until that goal is in sight and significant deflationary […] More

Focus on Policy Support

September 16, 2011

Stocks in the Pacific Rim advanced by 3.7% in South Korea, 2.6% in Taiwan, 2.3% in Japan, 1.9% in Australia, 1.6% in Indonesia, 1.4% in Hong Kong, 0.8% in Singapore but just 0.3% in India and 0.2% in China where containing inflation remains the top priority.  In Europe, the German Dax so far is up […] More

A Busy Day of Data Releases, Events, and Market Movement

September 15, 2011

The dollar is lower, with overnight losses of 1.2% against the kiwi, 0.5% relative to the euro and sterling, 0.4% against the Swiss franc, 0.2% versus the Canadian and Australian dollars, and 0.1% against the yen.  The yuan is steady. Stocks are up by a strong 2.1% in Germany, 2.0% in France, 1.6% in Britain, […] More

Numerous Official Efforts to Halt Market Turmoil Mostly Failing

August 8, 2011

After markets closed Friday, S&P downgraded the U.S. credit rating from AAA to AA+ and retained a negative outlook, meaning more downgrades are possible. Stocks in Israel tumbled almost 7% on Sunday. G-20 finance ministers and central bank governors released a statement that “affirms our commitment to take all necessary initiatives in a coordinated way […] More

Data Deluge on First Day of Third Quarter

July 1, 2011

The dollar edged up 0.1% against the euro and is trading below 1.45/EUR after touching an overnight low of $1.4553.  The euro’s high in June was $1.4696. Greece has averted a default for now with the positive austerity votes of Wednesday and Thursday.  The Swiss franc has dropped 0.6% against the dollar and 0.5% against […] More

Investors Unnerved by Middle East Unrest and Spiking Oil Prices

February 22, 2011

Stocks are sharply lower.  The dollar, Swiss franc and yen are higher.  Bond yields fell.  In the Middle East, tensions continue to escalate in Libya where strongman Quaddafi seems to be losing the support of his military.  Two Iranian naval ships went through the Suez Canal.  The Security Council meets today to discuss recent Middle […] More

Dollar Down Ahead of U.S. GDP and Employment Cost Reports

January 28, 2011

The dollar lost 0.6% against the yen overnight and is down 0.4% against the Australian dollar, 0.3% versus the kiwi and Swiss franc, and 0.1% against the euro.  The dollar is up 0.1% relative to the Canadian dollar and pound sterling but steady against the Chinese yuan. Share prices are mostly lower, with declines of […] More

Greenspan and Geithner Duke it Out in Verbal Currency Wars

November 11, 2010

With G20 leaders meeting in Seoul, South Korea, bond market strains on the euro area peripherals — Ireland, Portugal, Greece, Spain and Italy — intensified.  The Irish-German ten-year spread widened past 650 basis points.  ECB member Stark denied the fiscal problems of these members constitutes a euro crisis per se.  Another ECB member reiterated that […] More

Euro Falters on Irish Budget Concerns

November 8, 2010

The dollar rose 0.9% against the euro, 0.6% versus the Swiss franc, 1.1% against the New Zealand kiwi, and 0.4% against the Canadian dollar and sterling.  The dollar is also 0.5% and 0.3% lower against the Australian dollar and Japanese yen but unchanged relative to the Chinese yuan. Press reports over the weekend observed many […] More