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Markets
crossroads-market-marketexpress-in

Month-End Leaves Market at Crossroads

Global equity markets are closing another strong month. The MSCI Asia Pacific Index was little changed on the day, but up 4.3% in October, the 10th consecutive monthly advance. Europe’s Dow Jones Stoxx 600 is...

NPL-Europe-non-performing-loans-ecb

ECB Gets Serious about Non-Performing Loans

US businesses traditional relied on bond and equity markets to raise capital. When the crisis struck, the US acted early and quickly to re-open market functions before the banks were prepared to expand their lending....

politics-policy-japan-germany-marketexpress-in

Implications of German and Japanese Political Developments

There have been two developments in German and Japanese politics that will likely have implications for future policy. Let’s review the developments and consider the implications for investors. There is much talk of the Jamaica...

dollar-yuan-marketexpress-in

Dollar Losses Accelerate, Adjustment not Over

The US dollar had one of its worst weeks of the year, as its interest rate support eroded. Despite prospects for a further upward revision in Q2 US GDP above 3.0% and continued above trend...

dollar-yuan-marketexpress-in

Trade Featured as Dollar Drifts Lower

The US dollar has a slightly lower bias today, but the against most of the major currencies, it is consolidating within the range set at the end of last week. The main exceptions are sterling...

abe-japan-marketexpress-in

Scandal-hit Shinzo Abe is a ‘dead man walking’

Japanese PM Abe’s approval rating has dropped to record new low amid a growing scandal surrounding suggestions that he intervened with officials at the ministry of education on behalf of a friend. Julian Ryall reports....

global-remittances-dollar-trump-marketexpress-in

Dollar Remains on the Defensive

The US dollar is narrowly mixed after selling off following the FOMC statement. Sometimes the narrative explains the price action, and sometimes the price action explains the narrative. This seems to be the case of...

dollar-yuan-marketexpress-in

Dollar Dumped on Doubts on US Economic Agenda

News of the defection of two more Republican Senators doomed the Senate attempt to replace and repeal America’s national health care. The failure to replace the system dubbed Obamacare, despite the Republican majority in both...

sterling-europe-boe-policy-marketexpress-in

Sterling, McCafferty, and BOE Policy

Sterling’s advance today is being attributed to comments by a member of the Bank of England’s Monetary Policy Committee McCafferty. However, we suspect it was a news item that was used to justify the price...

sterling-pound-marketexpress-in

Carney’s Reversal Lights Fire Under Sterling

Bank of England Governor Carney said shortly after the 5-3 vote at the MPC that now was not the time to increase interest rates. Today sterling is flying. It is posting the largest gain in...

Hong-Kong-Housing-Index-marketexpress

Hong Kong Warns: Its Housing Bubble is a “Dangerous Situation”

The HK financial system is “very strong” and “can withstand an adjustment in the property market.” The Hong Kong dollar is pegged to the US dollar. Hong Kong’s monetary policy is follows the Fed’s monetary...

US-auto-loan-annualized-net-loss-index-Fitch-marketexpress-in

This Toxic Trifecta for Auto Loans is Fueling #Carmageddon

Subprime Auto-Loan Backed Securities from 2015 on track to be Worst Ever. Institutional investors that manage other people’s money grabbed subprime auto-loan backed securities because of their slightly higher yields. These bonds are backed by...