U.S. housing starts
Central Bank Interest Rates Back in the Spotlight
June 20, 2023
Tuesday has been a more active day in financial markets than Monday, with the return of U.S. leadership after yesterday’s Juneteenth holiday. The dollar has been mixed, dropping 0.3% against the yen and 0.1% versus the euro but advancing 1.0% relative to the Australian currency, 0.5% vis-a-vis the kiwi, 0.4% against the Turkish lira, 0.3% […] More
Some Surprises But Not All in Same Direction
April 18, 2023
Chinese data reported this Tuesday exceeded expectations, but officials cautioned that solid recovery isn’t yet firmly entrenched. Real GDP last quarter rose 2.2% on quarter, and the prior quarter’s change was revised to an increase of 0.6% from the earlier estimated zero percent quarterly growth rate. Year-on-year growth of 4.5% in 1Q was up from […] More
Contrasting Concerns Among Central Bankers and Financial Market Investors
January 19, 2023
As often is the case, the World Economic Forum in Davos has thrust central bank policies into the spotlight. The primary concern of monetary policymakers remains inflation. Federal Reserve District Presidents Mester of Cleveland and Bullard of St. Louis endorsed a need to crank the federal funds rate target above 5.0%. European Central Bank President […] More
Highest British and German CPI Inflation in 357 and 354 months respectively
January 19, 2022
Inflation and Covid-19 infections remain elevated around the world. Investors at the moment are reacting mostly to the inflation numbers, believing that economic activity has become more insulated against the pandemic. The expectation that central banks will continue tilting away from stimulus lifted ten-year sovereign debt yields overnight by five basis pints in the U.K., […] More
Dollar Extends Rise Amid Pandemic-Related Uncertainty
April 16, 2020
Overnight dollar gains prior to today’s report on U.S. new jobless insurance claims range from 1.0% versus the peso, 0.5% against sterling, 0.4% relative to the Australian dollar, 0.3% versus the euro and kiwi, 0.2% against the Swiss franc, and 0.1% relative to the yen, yuan, and loonie. In futures trading, the 10-year U.S. Treasury […] More
Bond Yields, Stocks, and Dollar Higher
May 19, 2015
The dollar strengthened 1.4% against the euro, 1.0% versus the Swiss franc, 0.8% relative to sterling, 0.6% vis-a-vis the Canadian and Australian dollars and 0.2% versus the kiwi. The yuan held steady. Ten-year Treasury and British gilt yields are four and three basis points firmer. Equities in the Pacific Rim rise by 3.4% in China, […] More
Setback for France, Good News from America
November 20, 2012
Moody’s withdrew France’s top-grade sovereign credit rating. S&P had already done this some time earlier, and coincidentally the cover story of this week’s Economist presents an alarming portrayal of France as “the time-bomb at the heart of Europe” and the “biggest danger to Europe’s single-currency.” Moody’s cited structural problems such as France’s persistent erosion of […] More
