FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS
WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]
BOE RATE SETTER: UK CONTRACTION EXAGGERATED BY STATISTICAL ANOMALIES
— MPC Member Broadbent suggests inflation has fallen by less than feared By Laurie Laird LONDON (MaceNews) – The UK economic contraction may have been exaggerated by the statistical measurement of public services, according to a Bank of England official, who also downplayed sustained below-target inflation in Britain. “Part of the drop in GDP reflects an […]
FED’S BOSTIC: READY TO ‘RECALIBRATE’ POLICY IF ECON STRONG BUT DON’T SEE 2021 HIKES
By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic said Monday he would be willing to consider “recalibrating” the Fed’s monetary policy stance if the economy proves stronger than expected, but said he can’t envision raising the federal funds rate from near zero until next year at the earliest. Bostic, a […]
BOE OFFICIAL MAKES FORCEFUL CASE FOR NEGATIVE UK INTEREST RATES
—Tenreyro Sees Diminishing Benefit of QE as UK Output Contracts Sharply By Laurie Laird LONDON (MaceNews) – A top Bank of England rate setter forcefully endorsed the case for sub-zero interest rates, raising questions over the continued benefits of quantitative easing with UK output in the midst of another severe contraction. “My overall assessment is […]
STATUS CHECK COMMENTARY: TRUMP HOPES FOR A REBOUND, FACES ANOTHER IMPEACHMENT
WASHINGTON (MaceNews) – The following is Friday night’s status check of developments in the U.S. that can influence economic, health and political outcomes. · The bastions of freedom are firmly in place, holding back the forces of Trump, at least temporarily. That’s right, Twitter, Facebook, Google, even Spotify have moved to keep the president off […]
DATA PREVIEW: RETAIL SALES AND INFLATION MEASURES
WASHINGTON (MaceNews) – Economic data in the week ahead includes the December retail sales report, along with the two major inflation measures, the CPI just a week from Inauguration Day and the PPI but market participants are unlikely to pay much attention. The major stock indexes were propelled back into record territory Friday, in part […]
STATUS CHECK COMMENTARY: THE POST-SIEGE SCRAMBLE
WASHINGTON (MaceNews) – The following is Thursday night’s status check of developments in the U.S. that can influence economic, health and political outcomes. · The White House scrambled Thursday to soften the accurate perceptions of President Trump’s actions that precipitated the physical attack on Congress as various threats to his remaining few days in office […]
JAPAN NOV HOUSEHOLD SPENDING POSTS MODEST RISE ON YEAR BUT SLIPS FROM OCT AMID PANDEMIC FEARS
By Max Sato (MaceNews) – Japan’s household spending in November posted a modest rise from a year earlier, up for the second straight month, as the effects of a sales tax hike in October 2019 had faded, but consumption marked the first month-on-month decline in four months in light of rising new cases of the […]
EURO-AREA ECONOMIC SENTIMENT PICKS UP IN DECEMBER
—Germany Sees Sentiment Stagnate By Marco Babic ZURICH (MaceNews) – Economic sentiment in the Euro-area was a positive note, rising in December from the previous month driven by “markedly higher” industrial and consumer confidence, the European Commission said in its latest Business and Consumer Survey report. Economic sentiment picked up 2.7 points in December to […]
ITALY TO SELL MORE USD-DENOMINATED BONDS IN 2021; NEW ‘GREEN’ SECURITIES – SOURCES
By Silvia Marchetti ROME (Mace News) – Italy’s government aims to issue more U.S. dollar-denominated bonds this year alongside new green bonds and retail securities aimed at supporting pandemic measures, according to ruling coalition sources. The goal is to keep diversifying the investor base through new issuances in foreign currencies both in the Global and […]