Japanese tertiary index
A Pause after Some Weak U.S. Housing Data
August 16, 2024
A surprisingly frenzied move into riskier assets this week hit a mild speed bump from weak U.S. housing starts and building permits last month. Starts dropped 6.8% on month to a four-year low and were 16% below the year-earlier level. Permits fell 4% on month and 7% on year. Only two days earlier, however, the […] More
Middle Eastern Uncertainty Ramps Even Higher
May 20, 2024
The wreckage of the helicopter carrying Iranian President Raisi, Foreign Minister Amirabdollahian and other key officials has been found in dense mountainous terrain with no survivors. The accident was initially attributed to “technical failure,” but these are early and uncertain days of mourning for Iran. Acting officials have been appointed, and a presidential election is […] More
Dollar and Sovereign Debt Yields Down; Equities and Bitcoin Rebound
October 17, 2022
Investors are hopeful that the continuing parade of third-quarter earnings show firms so far coping reasonably well with rising interest rates. The mood of financial markets got an additional boost from a near complete about-face in British fiscal plans. U.S. stock futures have risen 1-1.5% to start the week. European equity markets show gains so […] More
Dollar Extends Gains
August 16, 2022
In spite of some weak data, the dollar climbed another 0.3% overnight relative to the euro and on a DXY weighted basis. The greenback also strengthened 0.6% versus the yen, 0.8% vis-a-vis the kiwi, 0.4% against the Swiss franc and Australian dollar and 0.2% versus the peso, yuan, and sterling. U.S. equities had risen on […] More
Spotlight on China Where GDP Contracted by Greater-than-Forecast 2.6% Last Quarter
July 15, 2022
Unlike any other country, China’s government treats Covid with no mercy, and so when the highly contagious subvariant emerged in March, officials resorted to aggressive lockdown tactics to stamp it out, regardless of economic cost. The 2.6% quarter-on-quarter slide was about a percentage point more than expected and the most since 10.5% plunge in the […] More
Xi/Biden, Central Banking Signals, and a Big Line-Up of U.S. Data Releases Today
November 16, 2021
The virtual summit between the Presidents of China and the United States exceeded three hours. The talks were reportedly civil but didn’t yield newsworthy compromises on the key contentious issues. The Fed and Bank of England seem closer to an interest rate lift-off than the European Central Bank or Bank of Japan. Minutes published from […] More
Equities Down but Dollar Stronger as U.S. Retail Sales Take a Hit
August 17, 2021
Stock markets in the Pacific Rim on Tuesday fell by 2.0% in China, 1.7% in Hong Kong, 1.2% in Taiwan, and 0.9% in Australia, South Korea, and Singapore. Share prices thus far today in Europe are down 0.9% in Italy, o.7% in Spain, 0.4% in France and 0.2% in Germany. The key U.S. equity indices […] More
Stocks Mixed,Dollar and Oil Price Down at Start of September’s Third Week
September 14, 2020
Equities advanced in the Pacific Rim, slid marginally in Europe, and appear poised to open higher in the United States. The dollar fell overnight by 0.7% against sterling, 0.5% versus the kiwi, 0.3% relative to the peso, euro, and Swiss franc, 0.2% vis-a-vis the yuan and 0.1% against the yen and loonie. The price of […] More
Coronavirus Cases Accelerate But Investors Also Focused on 2Q Corporate Earnings
July 13, 2020
Almost 2000 U.S. deaths have been attributed to Covid-19 since this time Friday, and the number of globally reported cases rose more than 600k to 13.06 million. Stock markets are nonetheless higher as investors await the start of the second quarter earnings season. Share prices rose 2.2% in Japan, 1.8% in China, 1.7% in South […] More
Some Good News Allows Riskier Assets to End Week on Rising Note
April 17, 2020
Released Chinese data were not as bad as feared. Although the first shrinkage of real GDP since 1976 was confirmed, the on-year decline of 6.8% last quarter was close to expectations, and officials asserted that the Covid-19 shock will not impair the continuing impressive long-term expansion of economic activity. Other released figures revealed a much […] More
