German industrial production

Continuing Rise of Long-Term U.S. Bond Yields Lifts Dollar but Depresses Equities

March 8, 2021

The 10-year Treasury yield’s uptrend that began from 0.89% in mid-December has been extended another three basis points to 1.60%. The senate approved a $1.9 trillion pandemic relief package along partisan lines over the weekend, and  investors are concerned that U.S. inflation will exceed the Fed’s expectations in both the short and long run. Bond […] More

Firmer Share Prices, Commodity Prices and Dollar

February 8, 2021

U.S. share prices point to a 0.3-0.4% additional rise at today’s open. Equities earlier had climbed 2.1% in Japan, 1.0% in China, 0.9% in Indonesia, 0.8% in Singapore and 0.6% in Australia. European gains so far today amount to 0.7% in France, 1.0% in the U.K., 0.5% in Switzerland, 0.3% in Germany and 1.6% in […] More

A Drop in Sterling and China Records a Record Trade Surplus

December 7, 2020

The dollar is unchanged from the Friday closing levels against the euro, yen and Swiss franc and shows insignificant net changes against the loonie, kiwi, Australian dollar and yuan. But a big 1.0% appreciation has occurred against sterling amid news that the EU and U.K. trade negotiators remain far apart with time running out for […] More

Trump on Steroids Has People on Edge and Unsure What Happens Next

October 7, 2020

President Trump returned from the hospital unrepentant and as erratic as ever. His major pronouncement on Tuesday — a unilateral postponement of stimulus talks until after the election — was seemingly reversed by an overnight tweet expressing a desire for a simplified “stand alone” bill. He downplayed the coronavirus threat and claimed to feel 20 […] More

Brexit Concerns Back in Spotlight while Holidays Close Other Markets

September 7, 2020

Investors perceive the odds of no post-Brexit trade deal between the U.K. and EU to be climbing. British Prime Minister Johnson reportedly will abandon trade talks after October 15 if no agreement is reached by then. The Eurogroup holds a monthly meeting at the end of this week. Markets are shut today in the United […] More

Risk Aversion Rekindled by Downbeat Economic Forecast and Data as Well as Covid-19’s Relentless Spread

July 7, 2020

Major stock markets in Europe show losses so far today of 1.2% in the U.K. and Germany and 1.0% in France and Spain. Equities closed down 1.4% in Hong Kong, 1.1% in South Korea and Singapore, and 0.4% in Japan. U.S. futures suggest that at least half of Monday’s strong rise in equity prices will […] More

Economic Reopening Spreads Even as Pandemic Chugs On

June 8, 2020

Many more business establishments will be reopening on a modified basis this week in a calculated gamble that the Covid-19 pandemic doesn’t intensify unduly as a result. An additional risk for the United States is the unknown impact of the many days of street protests since the death of George Floyd. Globally reported confirmed cases […] More

Disconnection Thursday Between Recessionary Data and Buoyant Stocks

May 7, 2020

Equities were mixed in Asia but have risen more impressively in Europe this morning. There were drops of 0.8% in India, 0.7% in Hong Kong and 0.2% in China but advances of 0.6% in Taiwan, 0.3% in Japan and 0.5% in New Zealand. The British Ftse, German Dax, and Paris Cac each have risen at […] More

Bigger Risk Appetite of Monday Continues

April 7, 2020

Share prices in Asia closed up 9.0% in India, 4.1% in Singapore, 2.1% in China and Hong Kong, 2.0% in Japan and 1.8% in South Korea and Taiwan. Equity markets so far in Europe show additional gains today of 4.3% in Italy, 4.0% in Germany, 3.1% in France, 3.5% in Spain and 3.0% in the […] More

Dollar Extending Gains Against Commodity-Sensitive Currencies

February 7, 2020

The dollar rose overnight by a further 0.7% against the kiwi, peso, Russian ruble, and Aussie dollar and by 0.5% relative to the Chinese yuan. The dollar dropped 0.3% versus the yen and 0.1% vis-a-vis sterling but is unchanged against the euro. Intensifying concern about the spreading coronavirus epidemic provided an excuse for profit-taking in […] More

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