German GDP
Powell’s Highly Awaited Speech Today Lifts Likelihood of Resumed Cycle of U.S. Interest Rate Reduction
August 22, 2025
Speaking at the Jackson Hole Monetary Symposium this morning Federal Reserve Chairman Powell acknowledged that the U.S. baseline outlook and balance of risks between higher inflation and lessening employment growth are shifting. Major points that were expressed include Broad agreement among policymakers exists that recent and ongoing tariff hikes will lift inflation in the short […] More
Difficult Day for Equities and the Dollar
May 23, 2025
The sharp rise earlier this week in long-term sovereign debt yields around the world has been partly trimmed but at the expense of a difficult Friday session for equities. Major U.S. stock futures are down between 1.4% and 2.1%. Similar slides have occurred in the four largest European stock exchanges, and the Shanghai Composite index […] More
Unease about the Future
February 25, 2025
Equities this Tuesday did poorly in the Pacific Rim, closing down 2.4% in Indonesia, 1.8% in New Zealand, 1.4% in Japan, 1.3% in Hong Kong, 1.2% in Taiwan, 0.8% in China and 0.6% in South Korea. Digital money experienced a stellar 2024 but now two months into 2025 is fast approaching what constitutes as a […] More
Electrifying Market Response to U.S. December CPI Data
January 15, 2025
At first glance, today’s huge sigh of relief by investors appears overly optimistic. They previously were fearful that disinflation may have run out of steam, or worse, given way to a fresh upward cycle. The total consumer price index increased 0.4% on month, propelled by a 2.6% leap in the energy component. Year-on-year inflation, a […] More
Looking for a Fresh Direction
August 27, 2024
The U.S. presidential debate is two weeks away, and the mother of all elections will follow eight weeks after that. A once highly likely victory for Trump has been transformed into a close contest. The FOMC next meets September 17-18. Chairman Powell has all but telegraphed a rate cut then, but it’s size is uncertain […] More
German Recession Confirmed and Interest Rate Decisions in South Korea, Turkey and Indonesia
May 25, 2023
U.S. GDP data will be released shortly. In the meantime, German GDP growth last quarter was revised to -0.3% (not annualized) from zero percent reported originally. That’s the second negative quarter in a row and the third drop in the past four quarter, resulting in a negative year-on-year growth rate of -0.5% as well. The […] More
Dollar Strengthens Ahead of Release of U.S. Personal Consumption Price Deflator
February 24, 2023
Broad-based dollar strength overnight has yielded appreciations of 0.8% against the Australian and New Zealand dollars, 0.7% relative to the yen, 0.5% versus the yuan, 0.4% vis-a-vis the loonie, peso and sterling and 0.3% against the euro. The weighted DXY dollar index is 3.6% above its level at the start of this month. Ten-year sovereign […] More
Share and Bond Prices Fall, Dollar Little Changed Ahead of Tuesday-Wednesday FOMC Meeting
January 30, 2023
U.S. equity futures point to a drop of around 1% at the opening bell. Share prices closed down 2.7% in Hong Kong, 1.4% in South Korea, 0.5% in Singapore, 0.4% in Indonesia but up 0.2% in Japan and 0.1% in China. Major European stock exchanges are down about 0.5% thus far. Ten-year sovereign bond yields […] More
Stronger Dollar After Another U.S. Gun Massacre
May 25, 2022
The dollar strengthened 0.4% overnight on a weighted basis, rising 0.7% against the euro, 0.6% versus the Australian dollar, 0.4% vis-a-vis the Swiss franc, and 09.3% relative to the Canadian dollar, Russian ruble, Mexican peso and sterling. U.S. stock indices are essentially flat in futures trading, and so is the 10-year U.S. Treasury yield. The […] More
Much Data to Peruse on a Snowy Friday
January 28, 2022
But first, a quick rundown of overnight market movement. The DXY weighted dollar index touched an 18-month high of 97.44 but is steady on balance. There’s been no net movement against the euro, Swissie or peso, dips of 0.2% against the yuan and Turkish lira, and upticks of 0.6% against the Aussie dollar, 0.3% relative […] More
