U.S. merchandise trade deficit
Waiting for the War to End
May 29, 2026
The verbal message that a peace deal in the Middle East, which began very soon after the conflict’s outbreak, may be getting stale but nonetheless continues to temper the reaction of financial markets. The Strait of Hormuz remains largely shut. Fighting in Lebanon continues. The U.S. has still not signed off on the reported deal […] More
Investor Enthusiasm Pauses
December 28, 2023
Two opposing themes are vying for the attention of investors: 1) rising hopes that an initial interest rate cut by the Federal Reserve may be only a couple of months away and 2) mounting fear of a broader war in the Middle East. Yesterday’s equity rally in the United States extended into Asia where share […] More
Dollar Rallying Further, Stocks Fragile
April 27, 2022
The weighted DXY dollar index advanced another 0.4% overnight to its highest level since mid-March 2020 when the Covid pandemic was still a new phenomenon. The dollar rose 0.7% versus the Japanese yen, 0.5% against the euro, and 0.3% relative to the Swiss franc, but the U.S. currency has slid somewhat against the Australian and […] More
