Market Snapshot

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Market Snapshot

Market Snapshot
Aug 19

More mixed signals from the Fed:

When Doves Try...

Minutes from the July FOMC meeting revealed little consensus for a rate hike in September; new data suggest that Abenomics’ “three arrows” may be falling short; and three reasons that S&P 500 earnings could improve later this year.

Market Snapshot
Aug 12

How will this affect the Fed?

US retail: Not buying it

Retail sales for July disappointed, with auto sales the only major category making up for contraction in the others. Financial markets, however, focused on the impact of the shortfall on the Fed's September rate decision. Meanwhile, Germany issued more zero-coupon notes priced above par, and Brazilian President Rousseff's impeachment grew increasingly likely.

Market Snapshot
Aug 05

More signs of growth. Rate hike ahead?

US jobs: Nice work

July's US employment report was a solid win in just about every category, rekindling speculation about a Fed rate hike as early as September. Meanwhile, the Bank of England cut rates and more than doubled its bond-buying, and Europe's banks pondered the results of one of its regulators' latest stress test.

Market Snapshot
Jul 29

Look behind the headlines

US GDP: The angel's in the details

The disappointing headline GDP for 2Q masked underlying consumer and industrial strength; look for upward revisions in subsequent estimates. Meanwhile, the Bank of Japan held back on further stimulus, perhaps pinning hopes on fiscal expansion. In Europe lending is finally picking up; is growth around the corner?

Market Snapshot
Jul 22

So far, so good

US growth: Summer sizzle

The US economy is having a solid summer so far; with a dovish Fed, more growth may need new tools. Meanwhile, Europe is feeling the first impact of the Brexit vote; China's currency continues to play a supporting role in global trade.

Market Snapshot
Jul 15

Wallets at the ready

US consumers to the rescue?

Slow, steady growth spread to the consumer sector in June, with retail sales perking up right along with consumer prices. Meanwhile, Japan's election gave Shinzo Abe a historically free hand for reform, both economic and military, and China growth showed the benefits of government support.

Market Snapshot
Jul 08

US jobs: Risk-on, but for how long?

Friday’s jobs report cheered markets; good news was perceived as good news, given broad-based belief in a still-dovish Fed. Meanwhile, the three-way tug-of-war between Italy's central bank, a preoccupied ECB and a regional Italian bank continued.

Market Snapshot
Jul 01

Market Liquidity: The dog that didn't bark

While beginning the adjustment to a changing economic and political landscape, world market liquidity appeared to hold up well, thanks to careful central bank management. Meanwhile, Puerto Rico got a much-needed break.

Market Snapshot
Jun 24

At what price?

You Brexit, you bought it

Last week's markets and policymakers' reaction to the UK referendum results were about price discovery and risk control; meanwhile, US banks passed an important stress test, and Saudi Arabia seemed to endorse $50 crude.

Market Snapshot
Jun 17

It's not just for Brexit

Central Banks: Four no's and a maybe

The Fed, the Bank of England, the Bank of Japan and the Swiss National Bank all kept their rates unchanged, each for different reasons, but all nodding to the UK's referendum on leaving the EU -- as global bonds and the Japanese yen continued to soar. All this as the European Central Bank (ECB) got ready to add yet more stimulus.


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