Risk Aversion in Spite of Gaza Ceasefire and Trump’s “It Will All Be fine” Comment on Trade Tensions October 14, 2025 Equity markets and long-term sovereign debt yields faltered anew this Tuesday. China is lifting port fees against U.S. imports and accusing Trump of reigniting trade tensions between the two countries. In the middle east…
Dollar Mixed and U.S. Stocks Positioned to Trim Friday Losses October 13, 2025 (170) Today is a holiday in Japan (Health Sports Day) and a federal holiday in the United States (Columbus Day a.k.a. Indigenous People’s Day). While U.S. banks and thus Treasury market trading are closed, the U.S. stock market will observe its normal…
Next Week’s Menu: October 11 – 17, 2025 October 10, 2025 Central Banks: The Monetary Authority of Singapore (MAS) will release it semi-annual Monetary Policy Statement on Tuesday. Unlike most other central banks that target an interest rate, MAS orients monetary policy by targeting the weighted value of its currency. Three variables are targeted: the…
Larger-than-Expected Interest Rate Hike by National Bank of Kazakhstan October 10, 2025 Kazakhistan faces a far different inflationary situation than Peru, and officials at the National Bank of Kazakhstan today made a statement of serious intention to counter price pressures by hiking their reference interest rate to 18.0%, higher than such has been in over…
Several Countries Release Price Data and Industrial Production October 10, 2025 The dollar slipped overnight by 0.3% against the yen, 0.2% versus the Korean won and New Zealand dollar, and 0.15 relative to the euro, Swiss franc and Mexican peso. Notable stock market movements in Asia this Friday ranged from gains of 1.7% in South…
National Bank of Poland’s Reference Interest Rate Lowered 25 Basis Points to 4.5% October 9, 2025 The interest rate target hasn’t been as low as the new level since just before a 75-basis point hike in May 2022. The adjustment today was the fourth cut since May, and the combined drop since then has been…
Filipino Central Bank Interest Rate Cut October 9, 2025 The overnight Filipino deposit rate was cut today by 25 basis points further to 4.75% in a move that had not been predicted by analysts. This was the seventh such reduction since August 2024 and was made in spite of a near doubling of on-year consumer…
Awaiting Powell’s Speech October 9, 2025 There’s been little reaction to news that Hamas and Israel reached a deal that is supposed to allow an exchange of hostages and prisoners and pave the way to a ceasefire in Gaza by the weekend. Financial market attention is instead focused on Fed policy. In the wake of…
New Zealand’s Interest Rate Cut Tops Expectations October 8, 2025 The Reserve Bank of New Zealand’s decision involved an interest rate change that exceeded analyst expectations. The Official Cash Rate was cut by 50 basis points, twice the street’s forecast. At 2.50%, the new OCR level drops to its lowest since August 2022 and a…
Dollar Revival Extended October 8, 2025 Driven by sluggish growth and political uncertainties affecting other economies, the dollar climbed overnight by a further 0.6% against the Japanese yen and Korean won, 0.4% relative to the New Zealand dollar, 0.3% vis-a-vis the euro and 0.2% versus the Swiss franc, Turkish lira and British pound. The intra-day…