Overview: In the war against the novel coronavirus, humans are striking back, and appear to be gradually getting the upper end, especially in place in Europe, and possibly the US, which has been particularly hard hit. Risk appetites are surging. Nearly all the equity markets are higher today, with India playing catch-up after yesterday’s holiday …
Overview: Encouraged by the election results, investors bid up Indian and Australian currencies and equities. Japan offered a pleasant surprise by reporting the world’s third-largest economy expanded in Q1. Most other equity markets in Asia fell, and European stocks have the week with small losses. The US decision to isolate Huawei sent ripples through the suppliers …
Politics Overshadows Economics Today, but Japan’s Economy Unexpectedly Expanded in Q1 Read More »
After softening ahead of the weekend, the US dollar has begun the new week on a firm note. It is gaining against most major and emerging market currencies. Outside of what appears to be a staged call between US President Elect Trump and the Taiwanese President, the developments in Europe grabbed the markets’ attention. Austria …
Dollar Comes Back Bid, but Still Vulnerable to Corrective Pressures Read More »
There were significant moves in interest rates and currencies last month. The drama was primarily spurred by the solidification of expectations of a Fed hike in the middle of this month and the stimulus promised by President-elect Trump. After years of falling budget deficits, the prospect for fiscal stimulus by the new President may have …
I was on Bloomberg Television with Joe Wisenthal this afternoon. I explain what I have been suggesting for the past couple of weeks, namely that the Austrian presidential election this weekend is the third point in the populist-nationalist wave, not Italy. The changes in the Senate are opposed by a broad array of forces in Italy, …
Cool Video: Bloomberg TV–Italy and Austria this Weekend Read More »
The ADP private sector employment estimate will steal some thunder from the official estimate on Friday. Although the two times do not line up tightly in the short-term, ADP captures the underlying trend. The ADP estimate removes some of the downside risks of Friday’s BLS report. With OPEC apparently reaching an agreement to cut output, …
Austrian Presidential Election is Important even if Overshadowed by Italy’s Referendum Read More »
This weekend’s Austrian presidential election and the Italian referendum may see the populist-nationalist forces do well. The polls suggest Hofer in Austria likely to win and become the first far right head of state in more than a generation. The defeat of the Italian constitutional reform, if it comes, will be not solely at the …
Where may the Populist-Nationalist Forces Stall? Read More »