IFO index

Chinese Central Bank to the Rescue — Really No Big Deal

August 25, 2015

The People’s Bank of China reduced its one-year lending and deposit rates by 25 basis points each to 4.60% and 1.75% while also slicing its reserve requirement ratio to 18.0% from 18.5%.  Stock markets rebounded on the news. Near 10:30 EDT, key U.S. stock market indices were up by 2.5-3%. In Europe, share prices gained […] More

Concerns about Rising Chinese Interest Rates

October 25, 2013

Short-term Chinese money market rates climbed higher overnight to multi-month highs.  The People’s Bank of China introduced a new prime lending rate. Key data releases this Friday include Japanese consumer prices, the German IFO business climate index, British 3Q GDP, and Euroland money and credit. Comments from the governor of the Reserve Bank of New […] More

Decent Data but Equities Fall Anyway

July 25, 2013

British GDP experienced the best quarter in nine, rising twice as fast in the second quarter (0.6%) as in 1Q and to 1.4% above the level in 2Q12.  Britain’s services index in March-May was 0.8% higher than in December-February. The German industrial business climate index of the IFO Institute improved another 0.3 points to 106.2, […] More

PMI and IFO Data Show Darkening German Economy

October 24, 2012

The euro and Swiss franc have declined 0.3% against the dollar, which is otherwise off 0.6% against the Australian dollar, 0.4% versus sterling, 0.3% relative to the kiwi, 0.2% against the loonie and 0.1% vis-a-vis the yen. Today’s focus will be the FOMC statement.  No press conference is scheduled, so the statement will be released […] More

A Better Market Tone

June 24, 2011

Equities rose 2.9% in India, 2.4% in China, 1.9% in Hong Kong, 1.7% in South Korea, 1.2% in The Philippines, 0.9% in Japan and Thailand, 0.7% in Indonesia and Singapore, and 0.2% in Australia.  The Paris Cac, British Ftse, and German Dax are 1.7%, 1.4%, and 1.3% higher. The ten-year Japanese JGB yield touched a […] More