BofA Global Research Fund Manager Survey: Global Investors Add To Equity Shorts, Pare Bonds and Cash Longs in June
— Investors Eye Improved World Growth Outlook, Fret ‘Big Tech’ Longs, AI/Tech Bubble By Vicki Schmelzer NEW YORK (MaceNews) –Global investors added to equity short positions and pared bond and cash long positions in June, with the latter driven by an improved world growth outlook, according to the findings of BofA Global Research’s monthly fund […]
FOMC Faces Tough Choice of Policy Options: Hike, Skip or Pause
– At Issue: The Funds Rate May Be ‘Restrictive,’ But Is it ‘Sufficiently Restrictive‘? By Steven K. Beckner (MaceNews) – In the run up to the Federal Reserve’s mid-June monetary policy meeting we’ve been witnessing a kind of clinic on central bank communication or, some would say, miscommunication. With key data yet to arrive and […]
Bank of Canada Surprises Market with 25 BP Rate Hike; Warns Policy-makers More Worried Inflation Could Get Stuck Well Above 2%
–BOC Decision Reflects Its View: Policy Not Sufficiently Restrictive to Bring Supply/Demand Back into Balance, Return Inflation Sustainably To 2% Target –BOC: Canada’s Labor Market Remains Tight; Overall, Excess Demand Looks to Be More Persistent Than Anticipated By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy interest rate – the […]
Preview: Bank of Canada Expected to Pause for 3rd Time in a Row to See Effects of Tightening but Likely to Warn It Is Prepared to Hike If Needed
By Max Sato (MaceNews) – The Bank of Canada on Wednesday is expected to leave its policy interest rate – the target for overnight lending rates – unchanged at 4.50% for the third consecutive meeting in a “conditional” pause during the current tightening cycle that began in March last year aimed at bringing elevated inflation […]
EXCLUSIVE: Ex-BOJ Momma Says BOJ May Raise Rates at Year End if Outlook for Sustained Wage Hikes Emerges; Initial Rate Move More Likely Next Spring or Summer
–Momma Sees 20% Chance of BOJ Achieving Stable 2% Inflation in A Year, Up from Zero 6 to 12 Months Ago –Momma: Cost-Push Inflation Prompting Wage Hikes Amid Labor Shortages By Max Sato TOKYO (MaceNews) – The Bank of Japan is focused on riding the wave of wage hikes to achieve stable 2% inflation by […]
Fed’s Beige Book Survey Sees Little Slowing With Consumption Higher In Most Districts
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions coast-to-coast Wednesday found little change overall, with consumption “steady or higher,” labor still tight, manufacturing “flat to up” and supply conditions continuing to improve. The survey, assembled by the Chicago Fed, was tempered by some downsides, saying “high inflation and the end of […]
FOMC Minutes Show Uncertainty About Any June Rate Hike
WASHINGTON (MaceNews) – The Federal Open Market Committee participants were not sure what is their most likely policy decision at their June meeting as the Fed staff repeated its outlook for a mild recession at year end or early next year, the meeting minutes showed Wednesday. In fact, the staff told the meeting that the […]
US NABE Panel of 45 Forecasters Show Wider-Than-Usual Disparity of Views on Key Metrics, Improve Outlook vs February
WASHINGTON (MaceNews) – The National Association for Business Economics Monday presented the results of its latest quarterly survey of forecasters, with the panel of 45 showing a wider degree of uncertainty over key etrics than usual, although somewhat improved over the previous survey. Some excerpts follow: GDP • Expectations for inflation-adjusted gross domestic product (real […]
Fed’s Powell Says Says Re Future Rate Hikes, No Explicit Pause, Just a Period of Assessment of Effects of Credit Tightening, Other Factors
By Denny Gulino WASHINGTON (MaceNews) – After fulfilling expectations for another rate hike of just a quarter point, Federal Reserve Chair Jerome Powell Wednesday said the FOMC did not decide on an explicit pause in future rate hikes, but is assessing the cumulative effects of those already accomplished as well as the effect of any […]
TRANSCRIPT: Fed Chair Powell’s Post-FOMC News Conference
WASHINGTON (MaceNews) – The Federal Reserve’s transcript of Wednesday’s news conference held by Fed Chair Jerome Powell following the meeting of the policy-setting Federal Open Market Committee follows: