ITALY LIKELY TO ‘PRESS PAUSE’ ON MORE DEFICIT SPENDING; DEBT CONCERNS RISE – SOURCES
By Silvia Marchetti ROME (MaceNews) – Italy’s ruling coalition parties are trying to limit further boosting pandemic deficit spending as fears of long-term debt sustainability rise, according to party officials. Despite pledges made in recent weeks to do “whatever it takes” to tackle the COVID-19 second wave and reassure markets, the “intention is to avoid […]
STATUS CHECK – VIRUS HITS WHITE HOUSE – AGAIN; BIDEN APPEALS FOR CALM
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes. You had a dream, that there is now a president-elect and that all the uncertainty and anxiety of a long week started to fade away like long-ago birth pangs. In your dream President […]
DATA PREVIEW: A QUIET DATA WEEK GIVES INFLATION THE SPOTLIGHT
By Kevin Kastner WASHINGTON (MaceNews) – With little key data scheduled and the Veterans’ Day holiday falling in the middle of the week, the October inflation readings will get their moment to shine – or to disappoint. As has been the case since the FOMC shifted its emphasis on inflation to the backburner, it will […]
DATA FLASH: US OCTOBER PAYROLLS RISE 638,000, UNEMPLOYMENT RATE 6.9%
–Private Jobs Surge 906,000, Led by Leisure, Business Services, and Retail By Kevin Kastner WASHINGTON (MaceNews) – The October employment report Friday showed that even an uptick in COVID-19 cases couldn’t stop the ongoing recovery, with a solid increase in payrolls and a further dip in the unemployment rate. Nonfarm payrolls rose by 638,000 in […]
STATUS CHECK – STILL COUNTING, FUMING AND SUING
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. Peace, harmony and finally a resolution to a hard-fought campaign? Of course not. This is 2020. Thursday night and key states still too close to call, with Joe Biden’s lead in Arizona diminishing […]
JAPAN SEPT TOTAL WAGES CONTINUE FALLING; BASE PAY ON MODEST UPTREND
By Max Sato (MaceNews) – Average wages in Japan remained depressed in September as the coronavirus has triggered layoffs and bankruptcies, while base wages, the key indicator for overall cash earnings, showed modest gains, data released Friday by the Ministry of Health, Labour and Welfare showed. The key points from the Monthly Labour Survey: * […]
JAPAN SEPT HOUSEHOLD SPENDING DOWN Y/Y BUT Q3 RISE TO SUPPORT GDP GROWTH
By Max Sato (MaceNews) – Japan’s household spending in September continued to slump from a year earlier, hit by the October 2019 sales tax hike and the global pandemic, but a quarter-on-quarter gain indicates consumption supported solid GDP growth after a third consecutive contraction through April-June, data released Friday by the Ministry of Internal Affairs […]
FED’S POWELL ACKNOWLEDGES SLOWDOWN, NEED FOR STIMULUS
By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell was as low key as possible in answering questions about the latest policy meeting as vote counts are deciding the next president but he did drop a hint that the asset purchase program may be in for some innovation. “The recent rise in new […]
DATA FLASH: US INITIAL CLAIMS SLIP; PRODUCTIVITY UP SHARPLY
–Initial Claims Decline By 7,000 to 751,000; 4-Week Average Slides–Nonfarm Productivity +4.9% as Output, Hours Worked Both Rebound By Kevin Kastner WASHINGTON (MaceNews) – Initial claims fell by 7,000 to a level of 751,000 in the October 24 week, slightly above expectations for a decline to 745,000. The four-week moving average for initial claims declined by […]
BANK OF ENGLAND EXPANDS QE PROGRAMME; LEAVES RATES UNCHANGED
— Forecasts Q4 GDP Contraction Raises Speculation Negative Rates in 2021 By Laurie Laird LONDON (MaceNews) – The Bank of England Thursday expanded its bond-buying programme but left its benchmark interest rate unchanged at its latest policy meeting, acknowledging the downside risks to forecasts as a second wave of coronavirus grips the country. The Bank […]