FOMC MINUTES AS EXPECTED, WITH LESS INTENSITY THAN SUBSQUENT COMMENTS
WASHINGTON (MaceNews) – The Federal Open Market Committee minutes released Wednesday offered no insights into Fed thinking beyond what has been revealed in participant comments since the meeting, in some cases with considerably less emphasis, that uncertainty is high and that downside risks are prevalent. Recent comments by Boston Fed President Eric Rosengren and Dallas […]
BoA GLOBAL FUND MNGR SURVEY: INVESTORS INCREASE EQUITY HOLDINGS, TRIM BOND UNDERWEIGHT
–Inflation Concerns Broaden –US Election Deemed 3rd Biggest Tail Risk, Behind Covid/US-China Trade By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in August were confident enough about global growth to increase their equity holdings and pare back their bond underweight, according to the findings of the BofA Global Research’s monthly fund manager survey, […]
DATA FLASH: JULY HOUSING STARTS SURGE, SUGGEST SUPPLY SURGE
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. July home building data, released Tuesday, were much stronger than expected and show that the record low mortgage rates are encouraging an increase in supply to meet the demand for new homes. The pace of housing starts rose by 22.6% to a 1.496 million annual rate, well […]
STATUS CHECK: NOT THE TIME TO PINE FOR NATIONAL UNITY AS ELECTION APPROACHES
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: “I wish that when we went into lockdown we looked like Italy.” Quote of the day, from Dr. Deborah Birx, Corona Virus Task Force coordinator, to KARK-TV. Is it true, as she said, […]
STATUS CHECK: BARS OR SCHOOLS? ANOTHER WEEK DEEPER INTO THE VIRUS PIT
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes: “Do you want want to open bars or open schools?” Best quote yet from the NIH’s Tony Fauci as his consternation becomes more tangible every day. It was Thursday when his Task Force […]
DATA PREVIEW: REDUCED NORTHEAST CASES LIFT FACTORY DATA
By Kevin Kastner WASHINGTON (MaceNews) – After a busy week, the upcoming data schedule is a bit lighter. After being hit hard by COVID early in the spring, the Northeast region has seen a sharp improvement that will translate into further strengthening in manufacturing conditions for August. The New York Fed’s Empire State reading, to […]
DATA FLASH: US JULY RETAIL SALES WEAKER THAN EXPECTED, UP 1.2%
–Retail Sales Excluding Motor Vehicles Up 1.9%; Vehicle Sales Fall 1.2%–Nonfarm Productivity Surges Despite Output Decline; Workweek Drops–Industrial Production Rose 3.0%; Manufacturing, Utilities, Mining All Up–Preliminary August Michigan Sentiment Ticked Up to 72.8 From 72.5–Business Inventories Fall 1.1% in June, Business Sales Surge 8.4% By Kevin Kastner WASHINGTON (MaceNews) – Retail sales rose further in […]
STATUS CHECK: MIDDLE EAST BREAKTHROUGH; VIRUS RELIEF STALEMATE
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: An authentic though preliminary breakthrough, a third Arab country normalizing relations with Israel. With the UAE’s agreement, Israel suspends its claims of sovereignty over the West Bank claimed by Palestinians for a future […]
TEXT: UAE/ISRAEL ESTABLISH DIPLOMATIC RELATIONS
–Israel Agrees To Suspend Claim of Sovereignty Over West Bank WASHINGTON (MaceNews) – The following is the text of the joint statement among the U.S., Israel and the United Arab Emirates which Thursday became the third Arab country to formally declare peace with Israel: Joint Statement of the United States, the State of Israel, and […]
DATA FLASH: US INITIAL CLAIMS DIP AS FUTURE STILL UNDER DEBATE
–Initial Claims -228,000 to 963,000; First Reading Below 1 Million Under COVID–July Import Prices Rose 0.7%, But Only 0.2% Ex. Fuels By Kevin Kastner WASHINGTON (MaceNews) – As Congress and the White House continue to spar – or currently refuse to spar – on the future of the enhanced jobless claims program, initial claims fell by […]