The first estimate of US Q2 GDP will released a few hours before the FOMC meeting concludes on Wednesday. Estimates have generally been reduced as data suggest consumers have pulled back and the expected inventory...
This Great Graphic was posted by Sober Look. It was in Barclay’s research and users Haver Analytics data. It depicts the real GDP level of the US, UK and euro area. It shows that the downturn was not as deep in...
Unemployment in Europe is near record highs. There seems to a be both cyclical and structural components. The the regional economy contracting for six consecutive quarters, the demand for labor is understandably poor....
This Great Graphic was posted on Business Insider, which got it from Bank of America, which relied on data from EPFR Global. It shows the cumulative capital flows into developed and emerging market equities funds since...
The prepared remarks from Bernanke’s testimony do not appear to break any new ground. They reflect what has said recently and several times he drives home this point. The prepared statement is peppered with phrases...
The contrast between the US and European auto markets is stark and captures the significant divergence of the two economies. June auto sales in Europe slumped from a year ago to their lowest level since 1996. In June,...
The Federal Reserve delivered a one-two punch to market expectations today. First the FOMC minutes did not appear as hawkish as many expected. Several FOMC members wanted to see more job growth before pulling back on...
The Federal Reserve is suggesting that barring a deterioration of economy activity in the coming months, it is preparing a protracted exit from the extraordinary monetary policy pursued since the credit cycle...
The ECB took an unprecedented step today. Part of its mantra has been that it does not pre-commit. Today it did. It indicated interest rates will be the same or lower for an extended period of time. Draghi, when pressed,...
A political crisis in Portugal threatens to steal the region’s lightening rod from Greece which has a few days to meet the latest the terms of the next aid tranche. This was seized upon by the euro bears who...