Today’s the day the bears are having their picnic
Take last week’s fears that the drop in oil prices was a sign of a slowdown in global growth and add a plunge in the ruble and you’ve got a market where the bears feel free to roam.
Greece threatens to exit the euro again
You’d think that the renewed possibility that Greece would exit the Euro if Prime Minister Antonio Samaras loses the snap election that he’s just called would have sent European stocks and the euro down further today. After all, if the Samaras government loses to a government led by Syriza, it’s likely that party will lead Greece out of the euro at a gallop
People’s Bank–finally–cuts interest rates
After a year and a half of trying—and largely failing—to stimulate China’s economy by supplying more funds to the country’s banking system, today the People’s Bank of China went back to its demand side tools and cut the benchmark one-year deposit rate and the one-year lending rate for the first time since July 2012
Japan falls into recession–again. Look for a falling yen, lower oil prices, and an even more cautious Federal Reserve
The Japanese government announced today that the Japanese economy contracted at an annualized 1.6% rate in the quarter that ended on September 30. Put that together with the much bigger June quarter drop of 7.3% (revised upwards today from 7.1%) and Japan is officially in recession. Again.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The only good news for the EuroZone in today’s economic forecasts is that it could be worse
The drop in forecast inflation despite the European Central Bank’s initial steps to purchase assets in the bond markets, and thus to weaken the euro, and thus to raise growth and import some inflation hit the euro especially hard. The continued downward trend in inflation expectations leaves the financial markets convinced that the central bank will have to go even further in its program of asset purchases/euro weakening
So far no follow through on Friday’s upward move; small caps resume retreat
After a good move upward in the first half hour the Dow Industrials and the Standard & Poor’s 500 both gave back all their gains and moved into negative territory at 0.22% and 0.14% lower, respectively.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Talk is cheap but euro isn’t: Financial markets don’t buy latest “detail light” plan from European Central Bank
Not enough! Financial markets have responded. “We want more details.” On the news for the European Central Bank the euro has climbed against the U.S. dollar and European stock markets have plunged
With no obvious explanation for the drop, the markets get nervous
Today’s drop has wiped out all of yesterday’s recovery that put an end to a streak of three down days. The speed of the reversal has unsettled the markets. And so has the absence of a clear catalyst for the drop
How a strong dollar is driving a strong yuan–and creating a growth problem for China’s economy
A strong dollar has been driving markets to look for alternatives as dollar-portfolio positions grow. China’s yuan has been a big beneficiary but that means the People’s Bank has to pick between growth and more credit expansion
Trick or Trend: Could a stronger U.S. dollar become too much of a good thing?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Jim’s Stock Alerts
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