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Trump talks down dollar–and U.S. stocks

Trump talks down dollar–and U.S. stocks

The U.S. dollar fell today after President-elect Donald Trump told the Wall Street Journal that the U.S. currency was too high–in part because China holds down the price of the yuan. On the comments the Bloomberg Dollar Spot Index was down 1.1% as of noon New...

Will the euro band-aids stick this time?

Another weekend, more band-aids. Will the latest round succeed in convincing financial markets that the bleeding in the euro has stopped when earlier applications have failed? The results this morning are mixed. The extent of this round is impressive. First, of...

So what happened to the euro relief rally?

Ireland formally appealed for a rescue by the European Union and the International Monetary Fund on Sunday November 21. The European Union and IMF quickly agreed to the request. Irish Prime Minister Brian Cowen said he expects talks on the package to be completed in...

Now it's Ireland's turn to rattle the euro

The Irish crisis keeps getting deeper—at least as judged by spreads on Irish government bonds. Yields on Irish government bonds hit records on Tuesday, September 28. The yield on the 10-year government bond climbed by 0.25 percentage points on the day to 6.72%....

Now it' Spain's turn to depress the euro

More worries for the euro. This time from Spanish politics. Prime Minister Jose Luis Rodriguez Zapatero has set a September 30 deadline for announcing his government’s budget plan. Investors want to see a combination of taxes and spending that reduces Spain’s budget...