BOE OFFICIAL: FURTHER UK QE MORE EFFECTIVE WITH RATE CUT
—MPC External Member Saunders Also Sees Merit in Sub-Base Rate lLnding to Corporates By Laurie Laird LONDON (MaceNews) – Any expansion of quantitative easing will pack a greater punch if coupled with a rate cut, according to a key Bank of England official, who believes that borrowing rates in the UK have yet to reach […]
STATUS CHECK COMMENTARY: IS PANDEMIC RELIEF CLOSER? REALLY?
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. It would be the biggest accomplishment of the House Problem Solvers Caucus, to be the catalyst for the passage of a pandemic relief package. The approximately half a hundred Republicans and Democrats who […]
FED’S BEIGE BK: FOUR DISTRICTS W/LITTLE OR NO GROWTH
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions from coast to coast, prepared for the final Federal Open Market Committee of the year in the middle of the month, not surprisingly Wednesday found a “modest” recovery marbled with seams of stagnancy as a resurgence of Covid-19 suppresses a lot of commerce. […]
JAPAN MOF SURVEY: Q3 CAPEX REMAINS WEAK; REVISION TO GDP CAPEX DATA SEEN LIMITED
By Max Sato (MaceNews) – Business investment in equipment by many Japanese companies remained depressed in the July-September quarter, compared to year-earlier levels, but the pace of decline decelerated from the previous three-month period, a quarterly survey by the Ministry of Finance released Tuesday showed. This may prompt the Cabinet Office to make only a […]
JAPAN OCT FACTORY OUTPUT POSTS 5TH STRAIGHT M/M RISE, REMAINS ON PICKUP TREND
By Max Sato (MaceNews) – Japan’s industrial production continued chugging along in October for the fifth consecutive monthly rise, recovering much of the pandemic-triggered slump as solid demand for general machinery and automobiles more than offset lower output of electronic parts and devices, preliminary data released Monday by the Ministry of Economy, Trade and Industry […]
EURO AREA BUSINESS SENTIMENT POSTS FIRST DROP SINCE APRIL
By Marco Babic ZURICH (MaceNews) – Economic sentiment in the euro area fell in November for the first time since April when the effects of the first COVID-19 wave pushed sentiment sharply lower. The Economic Sentiment Index (ESI) for the countries sharing the euro fell “markedly” in November to 87.6 from 91.1 the previous month, […]
JAPAN NOV TOKYO CORE CPI POSTS LARGEST Y/Y DROP IN OVER 8 YEARS AMID SLIDING ENERGY COSTS
By Max Sato (MaceNews) – Consumer prices in Tokyo, a leading indicator of the national average, posted a larger-than-expected drop in November, amid falling energy prices and a controversial government program to support the pandemic-hit tourism industry with hotel and transport discounts, data from the Ministry of Internal Affairs and Communications released Friday showed. The […]
STATUS CHECK COMMENTARY- THE HAVES GIVE THANKS, THE HAVE-NOTS WAIT IN LINE
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. The day before Thanksgiving, the latest economic data suggested the country is fractured economically as well as politically, with hardship increasing at the same exponential pace as virus infections while those lucky enough […]
DATA FLASH: US OCTOBER PERSONAL INCOME FALLS AS STIMULUS DISAPPEARS
–US October Personal Income -0.7% After +0.7% in October, Savings Rate 13.6%–Nominal PCE +0.5%, Real PCE +0.5%; Core Prices Flat–November Michigan Sentiment Index Revised Down to 76.9, Expectations Tumble By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell in October, reflecting the removal of the Lost Wages stimulus package that lifted income in September, one […]
UK DOWNGRADES ECONOMIC FORECASTS; RETURN TO POST-PANDEMIC LEVEL DELAYED TO END 2022
By Laurie Laird LONDON (MaceNews) – The UK economy – already lagging its developed-world peers – will recover more slowly than expected, according to updated forecasts released on Wednesday. Output will not regain its pre-pandemic level until the final quarter of 2022, according to UK’s top finance official, Chancellor Rishi Sunak, delivering his spending statement […]