larrygreenberg @ November 30, 2010 # Comments Off
The second round of Fed quantitative easing was meant to depress long-term interest rates. Many perceived a hidden agenda to weaken the dollar. Neither trend played out in November unless one considers the fact that ten-year Treasury yields…
CalculatedRisk @ November 30, 2010 # Comments Off
On Europe:
• From the WSJ: Fresh Round of ‘Stress Tests’ Planned for European Banks
The [first stress] tests were largely discredited by revelations that they lacked rigor, including a Wall Street Journal report in September that the tests understat…
CalculatedRisk @ November 30, 2010 # Comments Off
From Andy Greenberg at Forbes yesterday: WikiLeaks’ Julian Assange Wants To Spill Your Corporate Secrets (ht Robert) Early next year, Julian Assange says, a major American bank will suddenly find itself turned inside out. Tens of thousands of its int…
larrygreenberg @ November 30, 2010 # Comments Off
In November, the fear of a new U.S. recession receded, helped by upbeat retail sales and labor market data. In contrast, the euro area was subjected to intensifying centrifugal forces amid contrasting rates of economic growth among members, widen…
larrygreenberg @ November 30, 2010 # Comments Off
Real GDP expanded 1.0% at an annualized rate last quarter. In the Bank of Canada’s Monetary Policy Report published last month, officials had projected growth of 1.6%. Growth in Canada was less than half as fast as the 2.3% pace in th…
CalculatedRisk @ November 30, 2010 # Comments Off
This morning, S&P reported that there were “broad based” house price declines in Q3. And earlier this month, CoreLogic reported that house prices declined 1.8% in September.
The following graph shows the Case-Shiller National index (quarterly), t…
ForexBlogger @ November 30, 2010 # Comments Off
EUR/USD today extended its decline to the lowest level since September, though currently recovered somewhat, on concerns about European sovereign-debt crisis and as US economy shows signs of recovery. The recovery is …
CalculatedRisk @ November 30, 2010 # Comments Off
S&P/Case-Shiller released the monthly Home Price Indices for September (actually a 3 month average of July, August and September).
This includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities), and the quarterl…
larrygreenberg @ November 30, 2010 # Comments Off
EUR/USD dipped briefly under $1.3000 for the first time since September 16 and shows a net additional overnight loss of 0.6%. In contrast to its gain against the euro, the dollar fell 0.5% versus the yen. Otherwise, the dollar shows gains o…
Peter Rosenstreich @ November 30, 2010 # Comments Off
Risk sentiment failed to capitalize on the Irish financial rescue plan yesterday, as risk reduction continued to be the name of the game. As to be expected, EURUSD was hardest hit, dropping 2.00% as any confidence that the EU sovereign crisis was solve…