Is Fiscal Austerity Being Rewarded?

From the IMF to the G20, from bloggers to Nobel prize winning economists, there have been calls for the major developed countries to reduce deficits and stabilize debt to GDP ratios.  The idea is that if this is done properly it need…

Dollar Slips, but Range Bound

Highlights The US dollar is mostly lower.   The euro is the strongest of the majors, gaining across the board.  The week’s high was set on Monday just below $1.24 and unless this is taken out, it simply seems like range…

Irish GDP Turns Positive, Sort Of

Ireland, the first euro zone country to fall into a recession in 2008, reported today that Q1 GDP expanded by 2.7% from Q4 09.  While the headline is impressive, even if Q4 09 was revised to show a 2.7% contraction rather than -2.3%…

Risk Returns on Successful ECB Tender

Highlights The US dollar is generally softer, consolidating yesterday’s moves.  In fact, the three best performers yesterday and for the month of June, namely the Swiss franc, British pound and Japanese yen, are the laggards…

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