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Swiss Surprise, but France More Telling

August 03, 2011
The Swiss National Bank took the market by surprise by announcing what amounts to another version of quantitative easing.  Its first attempt was via foreign bond purchases and sales of Swiss franc for euro and dollars.  It failed miserably and leaving the august institution with significant paper losses.
This new attempt includes: 1) a formal ad…
Swiss Surprise, but France More Telling Swiss Surprise, but France More Telling Reviewed by Marc Chandler on August 03, 2011 Rating: 5
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Atlantic Council Interview: US Budget Deal Atlantic Council Interview: US Budget Deal Reviewed by magonomics on August 02, 2011 Rating: 5
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US Economic Headwinds Restrain the Dollar

August 02, 2011
The US dollar advanced in Asia and Europe but news of the first outright drop in US consumption in 2 years has seen the greenback surrender much of its earlier gains.  
June personal consumption expenditures fell 0.2% in June.  The consensus had looked for a small increase. Consumer spending on durable goods, a good cyclical indicator, has been fal…
US Economic Headwinds Restrain the Dollar US Economic Headwinds Restrain the Dollar Reviewed by Marc Chandler on August 02, 2011 Rating: 5
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A Few Observations about the US Deficit Deal

August 01, 2011
The deal that has been struck by party leaders in the US now needs rank and file support.  Some modifications even at this late date are possible, but there are several points that are worth considering at this juncture.  
First, even though the US has technically defaulted in the past (a similar episode as now took place in the late 1970s) a signi…
A Few Observations about the US Deficit Deal A Few Observations about the US Deficit Deal Reviewed by Marc Chandler on August 01, 2011 Rating: 5
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Two Major Developments at Start of the Week

August 01, 2011
There have been two major developments.  The first is what appears to be the basis of a US debt deal that will avoid a technical default and may in fact avoid an imminent downgrade of its credit rating.  The second development is batch of purchasing managers surveys that warn of powerful economic headwinds.
Two Major Developments at Start of the Week Two Major Developments at Start of the Week Reviewed by Marc Chandler on August 01, 2011 Rating: 5
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