US 1Q GDP Technical Note – Breakdown of Key Elements
WASHINGTON (MaceNews) – The following is the text of the U.S. Bureau of Economic Analysis technical note on the elements of the first quarter advance GDP report published Thursday: Gross Domestic Product, First Quarter 2021 (Advance Estimate)April 29, 2021 This technical note provides background information about the source data and estimating methods used to produce […]
US Data Preview: FOMC/Powell News Conf; GDP, Personal Inc, Durables
WASHINGTON (MaceNews) – The week ahead promises no surprises, in the first-quarter GDP report, the FOMC meeting, durable goods report, the price of oil, the president’s address to Congress, the gradually improving trend of virus cases unless … . Unless you count the preternaturally moderate benchmark U.S. 10-year yield. At this writing 1.567%. Who at […]
US Economy Roaring Back, But FOMC Not Ready To Respond … Yet
By Steven K. Beckner (MaceNews) – The economy may be at “an inflection point,” as Federal Reserve Chairman Jerome Powell has said, but monetary policy remains more reflexive than anything, which is to say he and his fellow Fed policymakers are still very much in emergency response mode, concentrating on helping the economy recover from […]
Japan Feb Household Spending Slumps Y/Y As Govt Extends COVID Restrictions
By Max Sato — Feb’s Sharp Drop Also In Reaction To Leap-Year Booster Effect on Feb 2020 (MaceNews) – Japan’s household spending remained below year-earlier levels for the third straight month in February as the government maintained restrictions on economic activity in major cities to fight the pandemic, data released Tuesday by the Ministry of […]
Strong Recovery Demand Masking US Supply Chain Crisis as Wht Hse Fixes Lag
WASHINGTON (MaceNews) – The day’s ISM report on manufacturing focused on supply-chain blockages that will continue into the late summer with the White House effort to diagnose the problem lagging. The Institute for Supply Management’s report showed manufacturing momentum powered up in March, with the index coming in considerably above expectations at 64.7. The new […]
ANALYSIS: Japan Eases Pandemic Rules, Risking Resurgence Amid Flat Approval Ratings
By Max Sato (MaceNews) – Japan’s government has eased some restrictions on economic activity, risking a renewed upswing in coronavirus cases, as it seeks to fight the pandemic and support a recovery from last year’s slump at the same time. Ahead of general elections sometime this year, Prime Minister Yoshihide Suga faces sluggish approval ratings […]
BofA Global Fund Manager Survey: Inflation Jitters Knock COVID-19 Off Perch As Top ‘Tail Risk’
By Vicki Schmelzer NEW YORK (MaceNews) – Inflation jitters knocked COVID-19 off its long-held perch as the top “tail risk” feared by global investors, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Up until this month, COVID-19 has been the primary concern of fund managers since February 2020, the […]
Italy’s Likely Funding Target for 2021 About 500B Euros, Possibly More – Sources
By Silvia Marchetti –Second Nationwide Lockdown to be Running Through Easter–‘Overall Picture Remains Gloomy and Uncertain’ ROME (MaceNews) – Italy’s bond issuance program for this year will likely be slightly higher than EUR 500 billion, in line with 2020 according to ruling coalition sources. There are roughly EUR 230 billion in maturing bonds’ rollover to […]
US Data Preview: Rescue Plan Billions Transcend Data/FOMC
–Coming Up, Retail Sales, Housing Starts; FOMC, Leading Indicators WASHINGTON (MaceNews) – Let’s face it, far more significant than the upcoming week’s economic data and FOMC meeting – more than perhaps the entire year’s upcoming data and FOMC meetings – is that the government is beginning to dump American Rescue Plan billions – hundreds of […]
FOMC Preview: Fed Not Apt To Start Signaling Policy Shift at Mid-March FOMC Meeting
By Steven K. Beckner (MaceNews)– With each passing day, as the recovery continues (and as more Americans get vaccinated), we are getting closer to the time when the Federal Reserve starts tapping the brakes on its supercharged monetary race car. But that doesn’t mean it’s close, and it’s doubtful we will see any perceptible movement […]