Sovereign Debt Yields Rise as Fiscal and Tariff Concerns Crowd Out Soft Economic Data July 14, 2025 (183) A six-basis point increase of the 10-year Japanese government bond yield (JGB) led a rise in comparable sovereign debt yields this Monday that also included increases of two bps in France and Italy and a single basis…
Next Week’s Menu: July 12-18, 2025 July 11, 2025 Central Banks: Bank Indonesia has a scheduled interest rate policy review. The Fed Beige Book of regional trends will be published, and Hammack and Williams are among the Fed officials with speaking engagements. Bank of Governor Bailey also speaks publicly. Holiday and Special Events: France’s Bastille…
Central Banks, Tariff News, and Corporate Earnings Vie for Market Attention July 11, 2025 A fresh record high in the price of Bitcoin overnight of $118,661 was main eye-catching market development since yesterday’s closing time on the U.S. east coast. Even after retreating about $1000, crypto’s net overnight gain has been 1.5%. The rise since…
FOMC Minutes, Tariff Mahem, and a Whole Lot of Price and Industrial Production Data Releases July 10, 2025 People are seeing what they want to see in yesterday afternoon’s publication by the Fed of minutes from the June 17-18 FOMC meeting. The minutes retain a majority view that embodies the likelihood of two 25-basis point…
More Tariff Letters, Extended Uncertainty, and the Beat of Released Data and Central Bank Watching Goes On July 9, 2025 Many governments received formal letters from President Trump yesterday, and others will get their “greetings” today. One is struck by the similarity of tariff threats assigned to each country to what had been promised nearly…
Investors Following the Bouncing Tariff Ball and Are Meanwhile Surprised by an Unexpected Australian Interest Rate Decision July 8, 2025 Continuing tariff policy uncertainty is making day-to-day financial market activity very choppy. President Trump had intensified tariff war fears on Monday by disclosing some hefty planned import levies, for instance 40% on goods shipped from…
More Tariff News July 7, 2025 (184) Like so many other Mondays this year, financial markets are marching to the beat of President Trump postings on Truth Social rather than economic fundamental trends. And as typically has been the case, the postings serve a dual purpose of unveiling new and changed information about future policy…
This Week’s Menu: July 5-11, 2025 July 6, 2025 Central Banks: Monetary policies to be reviewed in Australia, New Zealand, Malaysia, South Korea, Peru, Romania and Serbia. FOMC minutes will be published on Wednesday, and the Reserve Bank of Australia’s quarterly Monetary Policy Statement will be released. Waller, Daly and Musalem are some of the…
Trade Concerns Back in the Forefront July 4, 2025 Having secured a single broad tax and spending bill, President Trump turned attention back to promised trade tariffs, and once again investors are learning of a sudden policy shift. Instead of a multitude of trade negotiations with complex commodity-specific and varied tariff charges, the president has…
Awaiting U.S. Labor Statistics, Trump’s Fiscal Package and ECB Minutes July 3, 2025 Financial markets are waiting and seeing ahead of today’s one-day early release of June U.S. labor market statistics. Considerable progress was made overnight toward a likely passage by the House of President Trump’s tax and spending bill, setting the stage for its…