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Browsing Category
Markets
Markets Like What They See and Hear
The combination of a 50 bp cut in China's required reserve ratios and anticipation that the European finance ministers sign off on the second aid package for Greece has lifted equity markets and most of the non-US dollar currencies.
Big weekend developments in China and Europe
There are two sets of important developments over the weekend that will influence the global capital markets. The first is in China and the second in Europe.
Greek Uncertainties Drive Flight to Safety
The US dollar continues to rally as uncertainty over the fate of Greece boosts demand for safety as the Greek tragedy is spinning into a farce.
Europe Still Dominates the Headlines
The vagaries of Europe's debt crisis continues to be the most important driver of the short-term price action in the foreign exchange market. Indications that Greek New Democracy leader Samaras would sign a letter of commitment to the aid…
Currencies Look Past Moody’s Downgrade
The US dollar is broadly mixed against the majors and EMs after the market appears to have shrugged off Moody’s downgrades of European sovereigns. Central banks ability to surprise the market remains intact, even in these trying times. It…
The BOJ Surprises, Weakens Yen
Central banks' ability to surprise the market remains even in these trying times. It was the Bank of Japan's turn today. It surprised the market in two ways. First, it expanded its asset purchase plan by JPY10 trillion ($128 bln).…
Moody’s Monday Mass Downgrade
We stress again that the loss of AAA is not the end of the world, and one could make the case that AA is indeed the new AAA. However, the Moody’s news comes a time when markets are nervous about Greece, and so some limited fallout to the…
Ten Observations To Start the Week
Ten thoughts on the economy and markets that include events in Greece, the US, Sweden, the EU and China.
Will Government Bank Mortgage Deal Help or Hinder Prosecutions?
This Real News Network segment was recorded before the deal was announced today, but the observations are still germane. Yves Q. Smith argues this is just kabuki theater for the masses (ahead of a general election, I would add). Clearly,…
Dollar Higher on Greek Stumbling Blocks
Concerns over the Greek deal have seen the dollar move higher against most of the majors and EMs
EuroStoxx 600 is off its lows but down 0.4%, bank shares down 1.7%; S&P 500 futures down 0.6%
Safe have securities are rallying with…