Uneasiness about Europe

September 25, 2012

Numerous concerns persist about the euro area debt crisis.  Will a banking union get formed?  Will Spain submit to outside conditional aid?  Does the Bundesbank have a hidden agenda to torpedo the monetary union?  What’s to be done about Greece, which seemingly cannot meet its bailout macroeconomic promises?  Doomsayer Nouriel Roubini, NYU’s pessimistic economics professor, […] More

Greek Woes Depress Euro Against Dollar and Crosses

June 15, 2011

European Finance Ministers did not make progress finding a way to share the cost of a restructured Greek debt. Moody’s is reviewing the rating of three French banks that are vulnerable to such a restructuring. The dollar climbed 1.0% against the euro, 0.6% versus sterling, the kiwi, and Swiss franc, and 0.3% relative to the […] More

The Age of Negativity

July 14, 2010

The fear genie is out of the lamp and running wild.  Just read the press headlines.  From a single page in today’s Financial Times, one can choose from “Three years on, fault lines threaten the world economy”, “The war on greed begins at the dinner table,” or “Hell no is not a platform for power.”  […] More

Awaiting FOMC Statement and Obama’s State of the Union Speech

January 27, 2010

With attention on the FOMC and tonight’s address from President Obama, stocks fell further and the dollar is mixed. Equities lost 2.9% in India, 1.6% in Thailand and Australia, 1.4% in China, 1.2% in Singapore, 0.7% in South Korea and Japan, and 0.5% in Indonesia and Taiwan.  In Europe, the Paris Cac, British Footsie, and […] More