Favorable Nvidia Earnings, Revised U.S. GDP Data, and A Significant Court Ruling Against U.S. Tariff Policy May 29, 2025 Nvidia’s first quarter earnings leaped over 70% year-on-year, crushing analyst expectations and eliciting a 5.4% pre-open jump in the AI computer chipmaker’s share price. A small revision to U.S. quarterly GDP growth last quarter from -0.3%…
Another New Zealand Interest Rate Cut May 28, 2025 The reduction to 3.25% from 3.50% in policy interest rate of the Reserve Bank of New Zealand returns such to its lowest level since October 2022 and brings the cumulative decline to 225 basis points from a peak of 5.50% sustained from September 2023 until August…
Higher Long-Term Interest Rates But Scant Changes So Far Today in Dollar or Equities May 28, 2025 The 10-year Japanese JGB yield climbed five basis points this Wednesday back to 1.50% despite a warning from Bank of Japan Governor Ueda that volatile long-term rates carry risk. Other 10-year sovereign debt yields have risen by 3…
Some Fresh Policy Signals May 27, 2025 Officials at Japan’s Ministry of Finance signaled an intent to dampen Japanese bond issuance in an effort to counter upward pressure on long-term yields. Governor Ueda of the Bank of Japan warned of upside risks surrounding core inflation in an apparent indication that the next BOJ interest rate…
Trump Interrupts American and British Holidays with a Social Media Blitz May 26, 2025 (190) Monday ought to have been a quiet session in world financial markets given the holiday observances of Memorial Day in the United States and the late spring bank holiday in the United Kingdom, plus a scarcity of items on the…
Next Week’s Menu: May 24-30, 2025 May 23, 2025 Central Banks: Monetary policies will be reviewed in Israel, Kyrgyzstan, South Africa, New Zealand, South Korea, and Hungary. Fed officials speaking publicly include Chairman Powell and also Bostic, Goolsbee, Waller, Kashkari, Waller, and Williams. FOMC minutes will be published. Holidays: The U.S. Memorial Day and late…
Difficult Day for Equities and the Dollar May 23, 2025 The sharp rise earlier this week in long-term sovereign debt yields around the world has been partly trimmed but at the expense of a difficult Friday session for equities. Major U.S. stock futures are down between 1.4% and 2.1%. Similar slides have occurred in the…
Percentage Point Cut in Overnight Deposit Rate Still Leaves Such at 24%, well above 13.9% CPI Inflation May 22, 2025 Today’s interest rate cut at the Central Bank of Egypt had been anticipated but was considerably smaller than prior and initial cut of 225 basis points done in April. A released statement attributes a significant…
Sri Lankan Interest Rate Cut May 22, 2025 The Central Bank of Sri Lanka also reduced its policy interest rate by 25 basis points from 8% to 7.75%. In light of a rise in Sri Lankan consumer price deflation of -2.0% in April versus -4.2% just two months earlier, analysts were not expecting a cut….
The Sounds of Chaos May 22, 2025 In the wake of the tax-cutting and deficit-engorging bill approved by the U.S. House of Representatives last night, The 30-year Treasury bond yield rose as high as 5.154%, its most elevated level since mid-2007 just weeks before the start of the subprime financial market crisis that triggered the…