Look for Yuan Weakness and Yen Strength to Begin the Week

Posted on

The Japanese yen and Canadian dollar were the only major currencies to gain against the US dollar last week.  They are also the only major currencies to appreciate against the dollar so far this year.  US President Trump’s apparent playing down of the pressure to strike a partial deal with China before the 2020 election… Read More

Central Banks may be Data Dependent, Whatever that Means, but Investors Aren't

Posted on

US jobs growth slowed in August, but nearly all the subsequent data, including retail sales, industrial and manufacturing output, housing starts, permits, existing home sales, and leading economic indicators were stronger than expected.  Core CPI accelerated to an 11-year high of 2.4%.  Economic surprise models have exploded, and  Citibank’s measure reached an 18-month high last… Read More

FOMC Meets Amid Money Market Pressures

Posted on

Overview:  News that Saudi Arabia was able to restore 40%-50% of the oil capacity lost by the weekend strike coupled with the Fed’s efforts to offset the squeeze in the money markets are allowing the global capital markets to trade quietly ahead of the conclusion of the FOMC meeting.  Equities are little changed with a… Read More