When I write, as I did again yesterday, Brazil may already be toast it’s not just Brazil who is likely to be on the painful end of the eurodollar. The balance of probability says that this one unfortunate South American country is potentially going to suffer more than most, for a second time, but they will not be unique in [...]
Well before Jerome Powell changed his dots a little, or the ECB chickened out, the Reserve Bank of India had already acted. For the first time since January 2014, on June 6 the RBI raised its benchmark repo rate. Rather than reverse the rupee’s slide it appears to have renewed it. The euro may have routed yesterday and hogged all the [...]
Economic Reports Scorecard – 11/6/15 to 11/20/15 The incoming economic data continues to disappoint. The Citigroup Economic Surprise index set a record this year for the length of time it stayed in the negative column (data less than expected) of over 200 consecutive days. Even in the depths of the Great Recession we never had more than 100 consecutive days [...]
Stay In Touch