Japanese small business sentiment

Dollar Rises and Long-Term Sovereign Debt Yields Spike Upward

September 27, 2017

The dollar advanced overnight by 0.9% against the Mexican peso, 0.6% versus the yen and Swiss franc, 0.4% relative to the euro, and 0.3% vis-a-vis the Aussie dollar, loonie and sterling. The yuan is flat, and the kiwi edged up 0.1%. Ten-year German bund and British gilt yields leaped six and five basis points. Futures […] More

A Somewhat Corrective Wednesday in the Market

August 30, 2017

The dollar recovered, sovereign debt yields rose and so have European and Asian equities overnight. The dollar climbed 0.4% against the euro, 0.3% versus the yen, 0.2% vis-a-vis the loonie, Swissy, and kiwi, and 0.1% relative to the Australian dollar. The dollar has dipped 0.1% versus the yuan and peso and is unchanged against sterling. […] More

Some Confusion Understanding Central Banker Intentions

June 28, 2017

ECB President Draghi said several things yesterday. A remark that the pendulum of price pressure is shifting away from deflation toward reflation had caught the market’s immediate attention and driven the euro higher, but the ECB today clarified that investors had not given sufficient weight to his other observation that plenty of monetary stimulus is […] More

Market Pause

April 26, 2017

After sharp advances on the first two days of the week, equities flattened as investors assessed whether so much optimism is really justified. Opinion polls, which point to a comfortable win for Macron over Le Pen in the early May presidential run-off election, have been wrong before as we saw in Britain and the United […] More

Brexit Dye is Cast

March 29, 2017

British Prime Minister has signed a letter informing EU governments that Article 50 is being invoked today. This starts a 2-year period of negotiations on the terms for the U.K. leaving the European Union, which will happen on March 29, 2019. Sterling is down just 0.1% against the dollar. The Ftse has lost 0.2% today, […] More

Japanese and U.S. Data Dominate Tuesday News

December 27, 2016

Core Japanese consumer price inflation remained at -0.4% in November, but Tokyo’s core rate of deflation was -0.6% in December, a new extreme for 2016. Energy price deflation is lessening, but overall price data are not responding commensurately. The Japanese jobless rate edged up 0.1 percentage point to 3.1% in November. Employment grew 1.1% on […] More

Oil and European Share Prices Show Firmer Tone

September 28, 2016

This has been another day with comparatively few releases of economic data — mostly some sentiment measures. Japanese small business sentiment recovered 1.4 points to a 2-month high of 47.7 in September but remains mired below the 50 threshold. Consumer confidence in China according to the Westpac gauge rebounded 3.7 points to a 3-month high […] More

Sentiment Up Ahead of FOMC on Japanese Fiscal Indication and Apple’s 2Q Earnings

July 27, 2016

The FOMC will release a policy statement at 14:00 EDT (18:00 GMT). ¬†No rate hike is expected. Japanese Prime Minister Abe quantified the coming fiscal stimulus at a greater-than-expected JPY 28 trillion, or roughly $265 billion. ¬†However, it seems that only about half the total will involve “real money,” that is actual government deficit spending. […] More

Markets in Helter Skelter Mode as Trump Wins Big and Oil Drops 3.3%

February 24, 2016

Donald Trump captured the Republican caucus in Nevada with 45.9% of the vote to Rubio’s 23.9% and Cruz’ 21.4% third place showing.  With neither Rubio nor Cruz inclined to drop out, Trump’s bid for the nomination looks unstopable.  Following Tuesday’s difficult day for U.S. stocks, share prices in Europe are registering their worst day since […] More

Continuing Financial Market Volatility on this FOMC Decision Day

January 27, 2016

The FOMC will release a U.S. monetary policy statement at 19:00 GMT (14:00 EST).  The statement this time will not be accompanied by new forecasts or a subsequent press conference.  The federal funds rate was hiked at the prior meeting in mid-December, so a further increase at this one never appeared likely.  The current interest […] More