Markets Calm(er)

Overview: Oil prices have stabilized after yesterday’s surge.  Both Brent and WTI are holding on to around $7-$8 a barrel gain. Equity markets are mixed.  Some are attributing the losses in Asia Pacific outside of Japan (Nikkei rose its highest level since late April), Korea and Australia to the rise in oil prices.  European shares opened …

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The Hong Kong Dollar and the Goose that Laid the Golden Egg

The boldness and persistence of the demonstrators in Hong Kong have captured the attention of the world.  China has shown more restraint arguably than others would have demonstrated. So far it offers a stark contrast to Macron’s response to the “Yellow Vest Movement” (des gilets jauner) in France, for example.  However, the last act in …

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Dollar Trades Off

The US dollar has not recovered from the judgment that yesterday’s that Fed was not as hawkish as many had anticipated.  There was no indication that officials thought they were behind the curve or prepared to accelerate the pace of hikes.  Powell is comfortable with the broad policy framework that has been established but seemed to have …

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