German PPI
Dollar a Bit Weaker
May 19, 2023
The dollar is 0.8% and 0.6% weaker today against the New Zealand and Australian currencies and has also settled back 0.4% against the Chinese yuan, 0.3% versus the Swiss franc, 0.2% relative to the euro and sterling and 0.1% relative to the Canadian dollar and Mexican peso. European equity advances so far this Friday range […] More
Dollar, Equities, and Sovereign Debt Prices Somewhat Lower to Start New Week
May 15, 2023
Compared to closing levels before the weekend, the U.S. currency has lost 0.6% against the Australian dollar, 0.5% versus sterling, 0.4% relative to the Swiss franc,and 0.3% vis-a-vis the euro, New Zealand dollar, and Canadian dollar. Alternatively, the U.S. dollar has risen 0.5% against the Turkish lira and 0.3% versus the Japanese yen. Following higher […] More
More Difficult Access to Credit But Central Banks Still Leaning Into Inflationary Winds\
April 20, 2023
Touted as a hedge against inflation and other uncertainties, cryptocurrencies have proven to be a fair-weather friend. The price of Bitcoin, down another 0.5% overnight, has been a good barometer of whether investors see a cup half full or half empty. Today’s stock market mood has been edgy. U.S. equity futures are down over half […] More
More Banking Uncertainty
March 20, 2023
The share price of First Republic Bank plunged 32.8% on March 17, and over the weekend Swiss authorities arranged for UBS to acquire Suisse Bank. Market expectations of the Federal Reserve’s interest rate decision this Wednesday range from an increase of only 25 basis points to no change at all in the federal funds target. […] More
Equity Slide Gets Extended
February 17, 2023
After decelerating in many countries during the final months of 2022, inflationary pressures intensified last month, and it didn’t take long for U.S. monetary officials to ramp up the projected path of interest rate hikes during the first half of this year. Federal Reserve District Presidents Mester of Cleveland and Bullard of St. Louis each […] More
Japanese Surprise
December 20, 2022
At the last scheduled Bank of Japan policy review in 2022 and with Governor Kuroda’s decade-long tenure approaching its April 2023 end, the Board decided to double the allowable daily trading corridor of the 10-year JGB yield from +/-0.25 to plus or minus 0.50 percentage points around a central target of “around zero percent.” The […] More
Dollar and Sovereign Debt Yields Lower, while Equities Rebound
November 22, 2022
The dollar fell overnight by 0.8% against the Swiss franc, 0.5% versus the yen and sterling and 0.3% relative to the euro, Aussie dollar and loonie. Ten-year sovereign debt yields dropped six basis points in the U.S., four bps in the U.K. but just a basis point in Germany. The DOW and S&P 500 are […] More
Dollar Gain Fueled by Higher Interest Rates, but Stocks and Bitcoin End Week on Very Sour Note
August 19, 2022
Ten-year sovereign debt yields soared overnight by 13 basis points in Germany and the U.K. and by 8 bps in the United States. A parade of remarks from Fed officials to dissuade any thought of an early end to aggressive monetary tightening was backed up by hawkish FOMC minutes released this week. The dollar appreciated […] More
Rising Inflation Dampening the Mood of Consumers Around the World
May 20, 2022
Amid bear markets, investors periodically test the waters in search of good values. Today has been one such day. The week will end with huge net share price declines, but on this Friday equities closed up 3.0% in Hong Kong, 2.9% in India, 1.8% in South Korea, 1.6% in China and Singapore, 1.4% in Indonesia […] More
China Plane Crash, Japanese Holiday, No Let-Up in Ukraine Clash, and a Percentage Point Hike in Egypt’s Central Bank Interest Rate
March 21, 2022
The dollar rose overnight by 0.4% against sterling and the Aussie dollar, 0.2% versus the Canadian dollar, 0.2% relative to the Canadian dollar, and 0.1% against the Swiss franc, euro, peso, and Turkish lira. With Japanese domestic markets closed for the Vernal Equinox, dollar/yen has remained steady. Capital controls continue to stabilize the Russian ruble […] More
