purchasing manager surveys
Fresh Banking Concerns Eclipse Some Encouraging Purchasing Manager Survey Results
March 24, 2023
Investor sentiment hit another air pocket in Friday’s session, with the banking sector absorbing the greatest shock. For example, the share price of Deutsche Bank AG has tumbled 11%, and overall stock markets in Germany, France, Italy, and Spain show declines currently that exceed 2.5% from Thursday’s close. A catalyst for this flight to safety […] More
Case for Central Bank Authorities to Pause Tightening
February 21, 2023
With markets in the United States and Canada set to reopen following their 3-day weekends, ten-year sovereign debt yields have climbed today by 12 basis points in the U.K., 7 bps in the United States and Italy, and 4 basis points in Germany, France and Spain. The yield on the 10-year Japanese government bond is […] More
U.S. Data Out Today Supports Fed Message that a Rate Cut in 2023 is Highly Doubtful
January 5, 2023
The 2022 dynamic of progressively tighter Fed policy supporting the dollar and depressing stocks and bonds remains intact. Minutes from the December FOMC meeting project higher interest rates persisting for some time and indicates that market valuations that imply an initial rate cut late in 2023 are premature. Although inflation cooled in recent months in […] More
Financial Markets Pounded With Data Pointing to Recession Superimposed on Elevated Inflation, Illness, and Neverending War
December 16, 2022
A continuing flight from stocks, bonds, and crypto this Friday saw Equities close down 1.9% in Japan, 1.4% in Taiwan, and 1.0% in Singapore. Late in Europe’s day, share prices are down 0.9-1.4% in Germany, France, Great Britain and Spain, and all three major U.S. indices have lost over 1.0% on top of big losses […] More
Equities in Fresh Selling Wave… And Dollar Less Sturdy
May 24, 2022
Stock markets in the Pacific Rim tumbled Tuesday by 2.4% in China, 1.8% in Hong Kong, 1.6% in South Korea, 1.2% in Taiwan, and 0.9% in Japan. The German Dax and Paris Cac have lost 0.7% and 0.8%, and the tech sector is leading a similar drop of key U.S. equity futures. Snap Inc plunged […] More
Following the Fed’s Lead to an Extent
May 5, 2022
Wednesday saw a post-FOMC rally in U.S. equities and commodity prices but a drop in the dollar and 10-year Treasury yield. The 50-basis point interest rate hike and the details regarding Fed balance sheet reduction were aligned with market expectations, but Powell’s press conference was more dovish than expected, especially his quelling of the possibility […] More
Dollar Strengthens With Fed Perceived Likely to Widen Disparity Between its Policy Stance and Those of Other Central Banks
April 22, 2022
Federal Reserve Chairman Powell and other Fed policymakers continue to go out of the way to encourage speculation that a series of 50-basis point interest rates are on the way. The European Central Bank is also shifting priorities but transitioning at a much slower pace. The Bank of Japan is dug in, committed to an […] More
Stagflationary Outlook Gaining Traction and Western Leaders in Brussels Plan Contingent Plans for Ukraine Crisis
March 24, 2022
The world’s attention today is on Brussels where U.S. President Biden will be meeting with NATO allies, the European Council of political leaders, and Other Group of Seven members. The meetings are meant to coordinate a response to Russia’s continuing invasion of Ukraine, where the use of Russian weapons of mass destruction appears increasingly probable. […] More
Omicron, Central Banks, ISIS, Metaverse, OPEC, Russia, Inflation and January PMIs Vying for Market’s Attention
February 3, 2022
The top leader of ISIS and his family have died after a U.S.-led raid in Syria. Geopolitical tensions between the U.S. and Russia remain very high. A total of 3,623 Covid-19 deaths yesterday in the United States were the greatest single-day total in a year. Omicron affected numerous service-sector and composite purchasing manager surveys reported […] More
Dollar Buoyed by Risk Aversion Ahead of FOMC Meeting and Also Fanned by Ukraine Tensions and Weak Purchasing Manager Surveys
January 24, 2022
The dollar has stremgthened 0.3% against the euro, loonie and on a weighted DXY basis. Even sharper advances can be seen of 0.7% relative to the Australian dollar and 0.5% versus sterling. The global sell-off of equities has resumed, with losses today of 2.6% in India, 1.5% in South Korea, 1.3% in New Zealand and […] More
