Markets

Price declines have the strongest effect on foreclosure rates; unemployment is secondary. The foreclosure document mess is temporarily slowing foreclosures.

The US dollar is little changed against most of the major foreign currencies and is mostly firmer against the emerging markets.  The two main exceptions are the euro, which, while holding above yesterday's lows, continues to…

Irish woes appear to be the main culprit dragging the euro down to its lowest level since Oct 20.  A break of the $1.3650-80 area could signal another two cent decline in the coming days. The flight into German bunds for safety is…

Highlights The US dollar was just about evenly split across the board versus the G10 with large gains versus yen, but largely down versus sterling and CAD.  Meanwhile, the EUR whipsawed between $1.37 and $1.38, and as London came in…

by Win Thin China took more efforts aimed at “further curbing inflows” with measures designed to “maintain China’s economic and financial security.”  The measures appear to be relatively mild, but like Brazil, China may end up…

Highlights The US dollar was largely up in Asian session as concerns about debt in the European periphery continued to weigh on markets but sharply reversed course. EUR/USD dropped from $1.3920 to $1.3823 where it subsequently climbed…

The outcome of the US midterm elections and Federal Reserve Open Market Committee meeting, coupled with the various economic reports, strengthens our base case scenario in which we expect the US dollar to generally trade higher as the 2010…

Highlights The US dollar strength before and after the payrolls report Friday continued through Monday, apart from a blip in early trading. The euro initially made gains, with EUR/USD up above $1.4080, as local elections in Greece gave…

by David Galland As I write, gold is back in record territory, surging from $1,313 a month ago, to over $1,390 as I write. Paid subscribers to our International Speculator service, which focuses on the junior resource companies – mostly…

by Win Thin Greece has the worst performing bonds in the euro zone, with 10-year spreads to Germany blowing out 80 bp this week and 136 bp this month.  It retakes the worst-performing mantle from Ireland, whose 10-year spreads are up…