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US Equity and Economic Review For the Week of May 11-15; A Really Unimpressive New High, Edition

By: HaleStewart

Hale Stewart is a former bond broker who has been writing about economics and financial markets since 2006 on the Bonddad Blog. He is also a tax attorney with a domestic and international practice while also forming and managing captive insurance companies for US companies. Read more

Weekly Indicators: the overly strong $ is killing the US expansion edition

By: New_Deal_democrat

Monthly data for April included a decline in industrial production and capacity utilization, declining producer, import, and export prices, an increase in business inventories, and a decline to 6 months lows in consumer sentiment about both the present and the future. Read more

XE Market Analysis: Asia - May 15, 2015

By: XE Market Analysis

The dollar gave back recent gains on Friday, with soft U.S. data again the culprit. Weaker industrial production and Michigan sentiment sent the greenback to fresh three week lows against the euro, taking EUR-USD to 1.1450, and resulted in USD-JPY giving back most of its hard-fought gains, to a low under 119.20. Read more

International Economic Week in Review: More Concerning Numbers From the US, Edition

By: HaleStewart

Hale Stewart is a former bond broker who has been writing about economics and financial markets since 2006 on the Bonddad Blog. He is also a tax attorney with a domestic and international practice while also forming and managing captive insurance companies for US companies. Read more

What's killing steel?

By: New_Deal_democrat

Ever since January, US steel production has turned seriously south, down over -10% YoY in most weekly reports. What's killing steel? One graph from the Iron and Steel Institute http://www.steel.org/~/media/Files/AISI/Press%20Releases/2015/IMP1503final.pdf is worth 1000 words: This week the analysis was updated through April: "[S]teel import permit applications for the month of April total 3,294,000 net tons (NT). Read more

XE Market Analysis: North America - May 15, 2015

By: XE Market Analysis

EUR-USD retreated below 1.1400, correcting after logging a three-month high at 1.1444 yesterday. ECB's Draghi pledge that its QE program will be implemented "in full" helped deflate the pair, while there is an increasing possibility that Greece's Syriza-led government will be forced to hold a referendum in the face of intransigent creditors. Read more

XE Market Analysis: Europe - May 15, 2015

By: XE Market Analysis

EUR-USD remains well bid following yesterday's U.S. data misses, particularly the weak retail sales figure which spared downward revisions to Q1 GDP estimates to the -0.7% area from the initially reported +0.2% figure. This has seen the dollar's yield advantage erode back to the 155 bp area at the 10-year T-note versus Bund comparison, down from above 160 bp. Read more

XE Market Analysis: Asia - May 14, 2015

By: XE Market Analysis

The dollar started out in N.Y. near its recent lows, though managed a bit of a comeback through the session. EUR-USD was unable to test the 1.1445 London highs, and eventually made its way to lows near 1.1340. USD-JPY meanwhile, strayed under 119 again briefly, though made its way back over 110.20 in afternoon trade. Read more

XE Market Analysis: North America - May 14, 2015

By: XE Market Analysis

EUR-USD logged a fresh three-month high at 1.1430. There haven't been data or developments of significance out of Europe so far today, while the market is continuing to adjust to the latest batch of U.S. data misses and consequent downward revisions to Q1 and Q2 GDP estimates. Read more

XE Market Analysis: Europe - May 14, 2015

By: XE Market Analysis

EUR-USD remains well bid following yesterday's U.S. data misses, particularly the weak retail sales figure which sparked downward revisions to Q1 GDP estimates to the -0.7% area from the initially reported +0.2% figure. This has seen the dollar's yield advantage erode back to the 155 bp area at the 10-year T-note versus Bund comparison, down from above 160 bp. Read more

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