Overview: Investors seem to be in want of new drivers, leaving the capital markets with little fresh direction. While Japanese and China equities were little changed, several markets in the region, including Australia, Hong Kong, Taiwan, and India, were off more than 1%. European bourses are mostly higher after the Dow Jones Stoxx 600 slipped 0.4% …
The outbreak of Covid-19 continues to be the major disruptive force, impacting households, investors, businesses, and policymakers. The virus hits vulnerable individuals and institutions. Monetary policy, and in some places, including Italy, fiscal policy will be deployed too. The handling of the crisis could shape both Chairman Xi and President Trump’s political futures. The coronavirus …
What You Should Know about the Other Shock: Oil Prices Read More »
Russia and Saudi Arabia play each other to open the World Cup on June 14. Soccer may not explain the world as well as Foer traces in his famous 2004 book (How Soccer Explains the World), but it may set the stage for the oil producers’ meeting next week. Neither country’s football team are regarded …
We have voiced our objections to the militarization of the language surrounding foreign exchange and trade. For several years, the media and journalists played up ideas of currency wars–beggar-thy-neighbor competitive devaluations. Leave aside the fact that it was often indistinguishable from easy monetary policies to facilitate economic recovery and arrest deflationary forces. Now it is …
The choppy US equity session yesterday, ultimately ending with modest losses as the tech sector remained under pressure, has been shrugged off in Asia and Europe, where modest gains have been seen. The dollar is little changed after yesterday’s gains, and bonds are mostly firmer. With the calendar effect and the approaching Easter holiday, trading …
Bonds and Stocks are Firm, While the Greenback Consolidates Upticks Read More »
Oil prices are lower for the seventh consecutive session. Light sweet crude prices had fallen 10.3% over the past two weeks, and with today’s losses are off another 1.6% already this week. There are two main considerations. The imbalance between supply and demand has not adjusted as much as expected, and the market positioning …