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September 2010

Prospects Daily: Europe debt concerns Persist

Global Macroeconomics Team's picture

Important developments today:

1.  Debt concerns on some European countries persist

2.  Japanese export growth continues deceleration

 

Debt concerns on some European countries persist. Investor concerns about the fiscal health of selected eurozone economies has deepened, as worsening debt problems for Ireland and Portugal are pushing interest costs higher across the region.

Global Commodity Watch

John Baffes's picture

Non-energy commodity prices in August jumped for the second straight month, up 4.6 percent, in part due to a weak U.S. dollar—down 0.7 percent versus the euro. The increases were again led by strong gains in base metals and food prices, the latter generated by weather-related production losses in Canada and the former Soviet Union.

Europe and the United States object to yen intervention

Global Macroeconomics Team's picture

Important developments today:

1.  Japanese intervention to weaken yen draws criticism

2.  U.S. CPI moves up 0.3% in August (m/m) on higher food and fuel prices