The Fed could be hiking the US into a recession, investor Peter Boockvar warns
The Federal Reserve just keeps on hiking, and it could be setting the U.S. economy up for its next recession, says Peter Boockvar, chief investment officer at Bleakley Advisory Group. This week, the Fed raised its benchmark interest rate a...
Dollar Higher on Hawkish Fed, Euro Dragged Down by Italy
Dollar rose broadly last week as markets received Fed’s hawkish rate hike rather week, despite initial hesitation. However, the greenback was just the second strongest, overshadowed by Canadian Dollar. Stronger than expected GDP data from Canada solidify the case of...
Global financial crisis: Did they get their house in order?
Ten years ago, as Euromoney was writing its 2008 jumbo issue for the World Bank/IMF meetings, it was clear that the global banking industry was in crisis. Lehman Brothers had collapsed, Merrill Lynch was rescued at the last minute. What...
72-year-old Fidelity bets on the future with blockchain, virtual reality and AI
“What are you doing here?” a young engineering student asked Vipin Mayar, the head of artificial intelligence initiatives at Fidelity Investments, at a MIT conference in San Francisco. As Mayar recalled, “They were all just… surprised.” Fidelity executives are getting...
How the US’s ‘mini-recession’ helps explain the economy’s current growth spurt
Sometimes the most important economic events announce themselves with huge front-page headlines, stock market collapses and frantic intervention by government officials. Other times, a hard-to-explain confluence of forces has enormous economic implications, yet comes and goes without most people even...
Weekly Economic and Financial Commentary: Central Banks in Focus as Growth Remains Steady
U.S. Review Fed Rate Hike Took Center Stage This Week The Federal Open Market Committee (FOMC) raised the fed funds rate 25 bps this week in a widely-expected move. The removal of language characterizing monetary policy as “accommodative” in its...
The Weekly Bottom Line: Don’t Let Textual Changes Get in the Way of Rate Hikes
U.S. Highlights The Fed hiked rates by 25 bps this week as widely expected. But, the communiqué dropped the reference to policy remaining “accommodative”. Interpretations regarding this change led to volatility in bond yields and equities. The debate on textual...
Week ahead: NFP in Focus as Q4 Kicks Off
A rather volatile week is drawing to a close and it has been a very interesting one indeed. The dollar started the week on the back foot and it fell initially in the immediate aftermath of the Fed’s rate hike...
Loonie Lifted by OPEC, Decent GDP Data
With FX traders once again focused on US political developments (to say nothing of the kickoff of the biennial Ryder Cup), the loonie has quietly snuck to the top of the major currency pack today. Canada’s currency found some support...
Strong Dollar Awaits Jobs Report to Validate Further Fed Hikes
The US dollar is mixed against major pairs on Friday. The dollar gained against the JPY, EUR, GBP and CHF but depreciated against the commodity pairs (CAD, AUD and NZD). Fundamental data in the US supported the dollar: the Fed...