BofA Global Research Fund Manager Survey: Investor Optimism High in December on ‘Run-it-Hot’ Macro and Policy Expectations
–Macro-optimism Highest Since August 2021 –Expectation For Higher Bond Yields Highest Since April 2022 by Vicki Schmelzer NEW YORK (MaceNews) – Global investor optimism was high in December, driven by “’run-it-hot’ macro and policy expectations,” according to the latest BoA Global Fund Managers survey, released Tuesday. This month, a net 18% of those polled looked […]
US TARIFFS STATE OF PLAY: EU Signs On; China, Not Yet; Tariff Regime Fragile As Most of the Transition Lies Ahead
By Denny Gulino WASHINGTON (MaceNews) – Thursday’s 10a ET oral arguments in the U.S. Court of Appeals for the Federal Circuit is one of the several legal challenges of President Trump’s “reciprocal tariffs,” a stark reminder that much of the entire U.S. tariff regime could suddenly collapse, requiring the refund of all the billions of […]
Analysis: Bank of Japan Taking Another Step Forward but Still Halfway Toward Brave New World of Paying Interest on Loans
By Max Sato (MaceNews) – Bank of Japan policymakers have taken another step forward with their third rate hike this cycle, but they are still only hallway through their mission of hauling the economy from the lukewarm super-low borrowing costs toward the brave new world of paying normal levels of interest on loans. At its […]
Analysis: FOMC Minutes Suggest Gradual, Cautious Approach To 2024 Rate Cuts
By Steven K. Beckner (MaceNews) – At their final meeting of 2023, Federal Reserve officials reached a consensus that they had likely raised short-term interest rates as high as they needed to go but they were not eager to begin cutting rates as dramatically as many had hoped, minutes of the Dec. 12-13 Federal Open […]
Analysis: Bank of Japan Cautious About Lifting Negative Short-Term Rate Target Until Confirming Path to Higher Wages in April
By Max Sato (MaceNews) – Bank of Japan policymakers are expected to maintain the current easing stance for now as they are likely to refrain from raising interest rates at least until April, when they may be able to see a clearer sign that wages will continue rising substantially in the next fiscal year. In […]
BOJ September Meeting Summary: Some Optimistic About Sustained Wage Hikes, Inflation Toward Stable 2%; Others More Cautious
–Members Agree Easing Should Continue to Support Wage Hikes but Some Also Call for Review of Easing Tools By Max Sato (MaceNews) – Some Bank of Japan board members predicted that wages may see a sustained hike in the next fiscal year starting in April, supporting a path toward stable 2% inflation, but others pointed […]
Preview: BOJ September Tankan to Show Modest Improvement in Major Manufacturers’ Sentiment
–Supply Chain Recovery Supports Auto Industry but Silicon Demand Sluggish –Eased Covid Rules Helping Services Sector While High Costs Hurting Consumers –December Business Confidence Seen Flat to Slightly Lower –FY23 Capex Plans Among Large, Small Firms Expected to Be Revised Up Further By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey […]
Powell: Fed Committed To 2% Goal but May Need To Do Less Given Bank Stress
– Williams Blames Demand, Shocks for Inflation – Not Past Monetary Ease – Fed Policymakers Divided on Where Funds Rate Needs To Go By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell renewed the Fed’s commitment to reducing inflation Friday, but gave no clear indication whether he thinks the central bank will need […]
Commentary: US Debt-Limit ‘Impasse’ Sees Biden Holding the High Cards
By Denny Gulino WASHINGTON (MaceNews) – When members of Congress prepare to leave on their next recess the Friday before Memorial Day, the debt-limit showdown will likely have been decided and House Speaker Kevin McCarthy will likely have seen his carefully built barriers to agreement be demolished like toothpicks in front of a freight train. […]
BOJ Under Governor Ueda Keeps Easing Stance to Pursue Stable 2% Inflation but Also Decides to Review Prolonged Easing
–No Longer Expects Short-, Long-Term Rates to Go Lower Than Now –Ueda Has Told Diet, Reporters: ‘Appropriate’ to Continue Current Policy Framework; Underlying Inflation Has Not Reached 2% By Max Sato (MaceNews) – The Bank of Japan said Friday its policy board decided unanimously to maintain its monetary easing stance, keeping its zero to slightly […]