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Much of the excess liquidity absorbed by RRPs arises from government spending not immediately offset by bond sales. Ensuring currency debasement globally is a compelling reason behind monetary cooperation between governments. The private sector’s growing economic woes furth...
The dollar is narrowly mixed bid ahead of the jobs report. The Scandis lead advancing major currencies, while the yen and Australian dollar are the laggards. Among emerging market currencies, the Turkish lira and the Russian ruble are off the most (~0.45%), while the South African ran...
China real estate developer Evergrande, facing default, is now expected to restructure its debt. Evergrande was also very focused on raising liquidity to avoid default. In particular, Evergrande lowered property prices (perhaps by around 15%) in order to generate sales. Chinese cu...
The sharp upside reversal in US shares yesterday carried over in Asia and Europe today. The Asset Purchase Program had strict parameters in terms of the capital key and country limits. US weekly jobless claims have risen for the past three weeks. For further details see: ...
The Nikkei fell for the eighth consecutive session, and today's 1% drop brings the cumulative decline to 9%. The Reserve Bank of New Zealand became the second high-income country to hike rates. The US dollar appeared to break the neckline of the possible head and shoulders topping...
The markets remain unsettled. The surge in energy prices, the fears emanating from China's property market, and the unresolved US fiscal drama weigh on sentiment. While the German and French flash services and composite PMIs were revised higher, Spain and Italy disappointed. The U...
The dollar slipped to a five-day low a little below JPY110.90 in early activity, but by late morning turnover in Europe was probing the JPY111.25 area. Sterling bottomed in the middle of last week ahead of $1.3410, and before the weekend, was probing $1.3575. The US Congress manag...
Investors continue to sell equities today. The Asia Pacific was a sea of red, with Japan, Australia, and Taiwan off 2% or more. The decline in the UK's manufacturing PMI was not as severe as the preliminary estimate implied. A shutdown of the US government has been averted. ...
Interest rates, ostensibly the fuel behind the dollar's surge, pulled back a little in the US yesterday. However, the greenback's rally continued, lifting it to new highs for the year against sterling, the euro, and yen. The US dollar spiked to a three-month high yesterday against...
Sterling is the weakest major currency this month and yesterday's drop of more than 1.1% was the largest in over a year. The looming debt ceiling may have encouraged some banks to avoid the T-bills that expire in mid-October and push more funds into the reverse repo facility, which sa...
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WisdomTree, Inc. (NYSE: WT), a global financial innovator, today announced plans to close and liquidate five WisdomTree ETFs. The ETFs will no longer accept creation orders after Friday, October 20, 2023. The final day of trading on the ETFs’ respective exchanges will also be Friday, O...