DATA PREVIEW: THE COVID BILL COMES DUE WITH Q2 US GDP
By Kevin Kastner WASHINGTON (MaceNews) – All throughout the COVID-19 shutdown, everyone from talking heads to economists to politicians spoke about second quarter GDP in ominous terms – a data point that was way down the road at the time. So now here we are. The advance estimate of second-quarter GDP will be released Thursday […]
STATUS CHECK: TRUMP: ‘WORSE BEFORE IT GETS BETTER;’ GA VIRUS SHOWDOWN DELAYED
WASHINGTON (MaceNews) – The following is Tuesday’s updated status check of developments in the U.S. that can influence economic, health and political outcomes: With the VIX down 1.6% to maintain moderately elevated 24.84, U.S. stocks had a mixed session Tuesday with a much different composition than Monday’s Nasdaq blowout. In fact the Nasdaq ended in […]
STATUS CHECK: NASDAQ WOWS; TRUMP REPEATS; SHELTON UP
WASHINGTON (MaceNews) – The following is Monday’s updated status check of developments in the U.S. that can influence economic, health and political outcomes: With the VIX down 4.13% to a calmer 24.60, the Nasdaq set another record in a big way, gaining 2.51% or 263.90 on the back of Tesla (+9.47% to record high), Peloton […]
BOE’S HALDANE: MPC MULLING SUB-ZERO RATES DESPITE STRONG ECONOMIC RECOVERY
By Laurie Laird LONDON (MaceNews) – The Bank of England is continuing to assess the efficacy of negative interest rates, despite a stronger-than-expected economy recovery, the bank’s chief economist said Monday. Sub-zero interest rates are “actively under review,” said Andy Haldane, addressing the UK’s Treasury Select Committee. The bank could also consider expanding its quantitative […]
FED’S BEIGE BK: SOME BOUNCEBACK FROM STILL VERY LOW LEVELS
WASHINGTON (MaceNews) – The latest Federal Reserve Beige Book survey of economic conditions in all 12 Districts published Wednesday was particularly uninformative this time around, providing little insight beyond generally available information on what’s happening to guide the upcoming meeting of the Federal Open Market Committee. The summary and District-by-District snapshots, assembled by the Chicago […]
EXCERPTS: BOC’S MACKLEM: REOPENING SURGE TO GIVE WAY TO BUMPINESS
OTTAWA (MaceNews) – Bank of Canada Gov. Tiff Macklem Wednesday said the decision to hold the policy rate at the lower bound and maintain the pace of quantitative easing was based on the assessment that the current rebound of economy activity will give way to a “slower and bumpier recuperation phase.” The following are excerpts […]
DATA FLASH: US JUNE INDUSTRIAL PRODUCTION SURGES ON VEHICLES
-Industrial Production Up 5.4%, Motor Vehicle Production Jumps 105%-Manufacturing Production Up 7.2%, Rises 3.9% Excluding Motor Vehicles-Utilities Production Up 4.2%, Mining Production Down 2.9%-Empire State Index Rises to 17.2 in July from -0.2, First Positive Under COVID By Kevin Kastner WASHINGTON (MaceNews) – Industrial production, released by the Federal Reserve Wednesday, rose by 5.4% in […]
DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]
FED’S DALY/BARKIN SEE HUGE PANDEMIC-CAUSED ECONOMIC CHALLENGES STILL TO COME
By Denny Gulino WASHINGTON (MaceNews) – The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. […]
FED’S BOSTIC: HIGH-FREQUENCY DATA SHOW LEVELING OFF IN ECONOMY
NEW YORK (MaceNews)- Recent high-frequency economic data suggestthe recovery is slowing as virus infections rise, Atlanta Fed President Raphael Bostic said Tuesday. Bostic, in webinar remarks to the Tennessee Business Roundtable, said the economy is rebounding from its depths in the first part of the second quarter but “more recent economic data show the upward […]