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Brexit and the Euro Shorting the euro is probably going to be fashionable soon as it weakens against the US dollar and the Swiss franc. The British pound may also gain against the euro once the Brexit agreement, whether hard or soft, is agreed upon as it is likely that the UK and the US will...
The EUR/USD pair, which is the value of the euro expressed in terms of U.S. dollars, recently spiked into the end of the 2019 calendar year. As we can see from the daily candlestick chart below, a rise of over 70 basis points (about 80 pips) occurred on the trading day of December 27, 2019. Th...
Overview In quiet turnover, Asia-Pacific and European equities are trading lower, while US shares are enjoying a firmer bias. China and Hong Kong markets bucked the trend. The Dow Jones Stoxx 600 is off by about 0.40% in late morning turnover. The S&P 500 has a five-week rally in tow. Bo...
Originally published on December 18, 2019 Today, shortly after Paul Volcker's passing and his memorial service, and shortly after Mario Draghi passed the baton of the European Central Bank to Christine Lagarde, I can't help but reflect on the heroism of these people and the heroism of Ben ...
The US dollar is finishing the year on a soft note. The Federal Reserve's real broad trade-weighted dollar index, which is updated at the end of the month, was lower at the end of November than at the end of 2018 (101.85 vs. 102.00). It has eased in five of the past six months, and December ha...
Overview Equities are finishing the holiday-shortened week on a firm note, encouraged by strong holiday internet sales in the US. Most markets in the Asia-Pacific region advanced except China and Thailand, while Japanese markets were mixed after weak industrial output and retail sales. The M...
Overview Many centers remain closed for the holiday, and those that are open are seeing light activity. The large bourses open in the Asia-Pacific region, like Japan, China, and South Korea, advanced. India and Taiwan equities slipped. Most European markets remain closed. The S&P 500 is ...
Overview The holiday has already shut several markets, and those that are open are lightly traded. Equity markets are mixed but little changed in the Asia-Pacific region, while the European benchmark, the Dow Jones Stoxx 600, was hovering around the record high. Benchmark bond yields are sli...
Overview In light volume, equities are trading with a heavier bias, bonds are mostly firm, and the dollar is softer against the major currencies. China's equities stand out, with the Shanghai Composite falling over 1%. The South Korea, Australia, and Indian markets eased, but most of the sma...
The title quote is from Tad Rivelle, Chief Investment Officer of TCW (Los Angeles-based fixed-income management company), who manages one of the largest actively managed bond funds. He goes on to comment about the implications of the negative rate policy that has been implemented by Japan and ...