GERMAN BUSINESS SENTIMENT JUMPS BY RECORD AMOUNT IN JUNE
By Marco Babic ZURICH (MaceNews) – Business sentiment in Germany improved by a record amount in June, with current conditions and the expectations components rising in tandem, Ifo Institute reported Wednesday. The IFO Institute business sentiment index rose by a record amount to 86.2 in June from a revised reading of 79.7 (79.5) in May. […]
BANK OF CANADA’S MACKLEM: NOT CONSIDERING NEGATIVE INTEREST RATES; OUTLOOK UNCERTAIN
NEW YORK (MaceNews) -The Bank of Canada is not considering negative interest rates and now sees its asset purchase program having a stimulative effect, Bank of Canada Governor Tiff Macklem said Monday. Macklem, in remarks prepared for delivery during an online event, said the bank expects quick job gains as the economy reopens, but growth […]
WHITE HOUSE WATCH COMMENTARY: THE HAZARDS/OPPORTUNITIES OF RISING EXPECTATIONS
By Denny Gulino WASHINGTON (MaceNews) – This Juneteenth, things have really changed, with pollsters saying never before has U.S. public opinion changed so dramatically and so fast as in the 26 days since the gruesome killing of George Floyd. If only history showed that such turning points were typically the beginning of more easily achieved […]
DATA PREVIEW: AFTER PARTIAL RECOVERY IN MAY, FOCUS TURNS TO JUNE
By Kevin Kastner WASHINGTON (MaceNews) – After solid improvement in the May U.S. data released over the last two weeks, the focus in the coming week turns to the early-June regional conditions data. June readings from the New York Fed and Philadelphia Fed released this previous week indicated continued improvement, with the Philadelphia Fed’s reading […]
DATA FLASH: US INITIAL CLAIMS FALL FURTHER, PHILADELPHIA FED JUMPS
––Initial Claims -58,000 to 1.508 Mln; 41.8 Mln Unadj Total Under COVID-–Philly Fed Manufacturing Index Surges to 27.5 in June from -43.1 in May By Kevin Kastner WASHINGTON (MaceNews) – U.S. initial jobless claims filings fell further in the current week, but the pace of weekly declines has slowed and the level itself remains extremely elevated. […]
BANK OF ENGLAND SLOWS ASSET PURCHASES AS CONSUMER SPENDING PICKS UP
— Base Rate Remains at Record-Low 0.1% By Laurie Laird LONDON (MaceNews) – The Bank of England will decrease the pace of its emergency quantitative easing program, noting that the UK has not suffered as much as feared during the economic shutdown implemented in late March. “Recent payments ant other high frequency data suggested that […]
FED’S MESTER: ‘VERY ACCOMMODATIVE POLICY NEEDED’ WITH FUNDS RATE UNCH. THROUGH END 2022
NEW YORK MaceNews) – Cleveland Federal Reserve President Loretta Mester said monetary policy needs to stay “very accommodative” and she agrees with her colleagues that the federal funds target should remain unchanged through 2022. In remarks for delivery on a webinar, said she and her colleagues agree a recovery is under way beginning in the […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
BNK OF AMERICA GLOBAL FUND MANAGER SURVEY SEES CAUTIOUS OPTIMISM
–Fret Any Second COVID-19 Wave –World Stocks Deemed Most ‘Overvalued’ Since 1998 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in June were cautiously optimistic about world growth, but wary that a second wave of COVID-19 could weigh on economic prospects, according to the findings of BofA Global Research’s monthly fund manager survey, […]
DATA FLASH: US MAY RETAIL SALES SURGE BY 17.7% ON REOPENINGS
–Retail Sales Excluding Motor Vehicles Rose 12.4%; Vehicle Sales Surge 44.1%–Industrial Production Rose 1.4%, Motor Vehicle Production Rebounds by 120.8%–NAHB Index Jump To 58 in June From 37 in May, Suggests Stronger Home Building Ahead–Business Inventories Down 1.3% in April, Business Sales Down 14.4% By Kevin Kastner WASHINGTON (MaceNews) – As social distancing eased in […]