Equities, currencies and interest rates gyrated, crude oil fell, German yields moved further into the negative and the CBOE volatility Index spiked to its highest in four months as markets tried to price the potential of a U.K. departure from the European Union.
Over the past two weeks polls have moved substantially in favor of a British exit with the so-called 'Brexit' vote leading between one to ten percentage points for the vote on next Thursday June 23rd.
Janet Yellen and William Dudley are trying their best to convince the markets that a December increase in the Fed Funds rate is, as the Fed Chair said Wednesday in Washington, a "live possibility."
Credit markets have responded smartly to the assertions of Chair Yellen and New York Fed President Dudley. The yield on the 2-year generic Treasury closed at 0.8116 percent on Wednesday, the highest since April 11th. On Thursday it traded to 0.8575 percent in New York, a four…Continue
Japanese exports, once the mainstay of its economy, grew at the slowest rate in thirteen months and imports tumbled pointing to a decline in domestic consumption that could tip the island nation into recession.
The decline in exports, which have been falling for most of the year, combined with poor results in industrial production, capacity utilization, machine and machine tool orders and a sharp drop in inflation this year will inform the Bank of Japan's October 30th meeting, widely…Continue
China joined the United States and Japan in relative decline in the third quarter leaving the European Monetary Union as the sole major economic bloc expecting stronger economic growth in 2015.
Gross domestic production expansion in the world’s second largest economy dropped to a 6.9 percent annual rate, better than the 6.8 percent forecast, but still the slowest pace since the financial crisis. It was the second weakest quarterly average in more than 20 years. Since 1992 only the…Continue