BofA Global Research Fund Manager Survey: Global Investors Buy Bonds on Declining Global Growth Expectations
–US Recession Concern Top Tail Risk –Sixty percent of Managers Expect Four Or More Fed Cuts in Next 12 Months By Vicki Schmelzer NEW YORK (MaceNews) – Global investors made a beeline into bonds in July, driven by declining world growth expectations, according to BofA Global Research’s monthly fund manager survey, released Wednesday. Jitters about […]
ISM: US Services Sector Back in Growth in July After Unexpected Slip Back into Contraction in June; April-July Average Moderates to Early 2020 Pandemic Slump
–ISM Services Index at 51.4 Vs. 48.8 in June Vs. Median Forecast 51.0–Business Activity, New Orders, Employment All Rebound–Prices Paid Index Remains Elevated at 57 but Has Eased from Above 70, 80 in 2021 and Parts of 2022 By Max Sato (MaceNews) – The U.S. services sector rebounded largely as expected In July, backed by […]
US July ISM Manufacturing in Contraction for 4th Straight Month as Soft Demand, Job Cuts Continue, Firms Await Fed Rate Cut
–ISM Manufacturing Index Dips to 46.8 from 48.5 in June, Well Below Median Forecast of 48.8–ISM’s Fiore: Sector in Temporary Trough, Not Diving into New Slump–Fiore: Firms Concerned About Supply Chain Disruptions amid Geopolitical Risks–Fiore: US Election Also Generating Uncertainty Over Future Energy Policy By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]
ISM: US Services Sector Unexpectedly Slips Back into Contraction; Key Index Hits Lowest Since Early Phase of Pandemic Slump
US service business contracts in June
US June ISM Manufacturing in Contraction for 3rd Straight Month as Demand Remains Weak amid High Interest Rates
–ISM Manufacturing Index Dips to 48.5 from 48.7 in May, Below Median Forecast of 49.1–ISM’s Fiore: Biggest Concern in June Report is over Falling Production–Fiore: Employment Unlikely to Expand Without Significant Pickup in Demand–Fiore: Manufacturing Still ‘Stable’ During Summer Months When Activity Slows Down By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]
FOMC Holds Funds Rate Steady; No Rate Cut Til Confident Inflation Headed to 2%
–Fed Officials Project Single 25 BP Rate Cuts in 2024 –Powell Calls CPI ‘Encouraging,’ But Wants More Data To Gain ‘Confidence’ By Steven K. Beckner (MaceNews) – The Federal Reserve’s policy making Federal Open Market Committee again held the federal funds rate steady Wednesday and gave no indication it will be cutting that key money […]
TRANSCRIPT: Fed’s Powell Says Waiting for Better Inflation Data, In Addition to ‘Encouraging’ CPI Report
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell’s bottom line is that more inflation data is needed before any rate cuts regardless of the “dot plot” and regardless of the day’s encouraging Consumer Price Index report. The transcript of his post-FOMC news conference follows: Inflation has eased substantially from a peak of 7% to 2.7% […]
FOMC Stands Pat Hints of More Hawkish Stance; ‘Dot Plot’ Sees One Rate Cut This Year
WASHINGTON (MaceNews) – The Federal Open Market Committee kept the fed funds rate as is again this time around while the “dot plot” projections that accompanied the policy statement contained hints of a slightly more hawkish stance, seeing just one rate cut this year. The statement text, with no dissents, follows: Recent indicators suggest that […]
ISM: US Services Sector Swings Back into Growth in May from April’s Brief Contraction but More Firms Concerned About High Interest Rates
US service sector business rebounds
ISM Semiannual Survey: US Economy to Expand Softly in 2024 amid Expected Lower Revenue Growth, Slowing Spending on Capacity
US purchasing managers see slow expansion