TARIFFS STATE OF PLAY: CHINA Tightens Restrictions on Rare Earth Exports to USA Among Tariff Retaliations
WASHINGTON (MaceNews) – In what analysts have said is a measured response, intended not to further escalate U.S.-China trade tensions, China nevertheless Tuesday has imposed some significant new penalties. Chief among them are export controls on several rare-earth minerals important to the U.S. manufacture of high-tech products. They include indium, bismuth, molybdenum, tellurium and tungsten. […]
US ISM Manufacturing Back in Growth at Start of 2025, Waking Up from More Than 2 Years of Doldrums on Cyclical Pickup in New Orders, Output, Jobs
–ISM Manufacturing Index at 50.9 Vs. 49.2 in December, Again Well Above Consensus (49.5)–ISM’s Fiore: Upward Help from Seasonal Adjustments in January 2025 Half of Those in January 2024–Fiore: Trump Tariffs Won’t Help US Firms; Doesn’t Make Sense to Pay Duties on Own Goods Made in Canada, Mexico–Fiore: Demand for US Manufacturers Sees Cyclical Rebound […]
ISM: US Services Sector Expands for 6th Straight Month in December on Robust Business Activity, with Boost from Seasonality, Preparation for Possible Trump Tariffs
–ISM Services Index at 54.1 in December Vs. 52.1 in November, Above Median Forecast 53.2–ISM’s Miller: Fed Likely to Pause in Rate Cuts in Face of 2nd Straight Quarterly Growth in Services Sector, Creeping Costs–Miller: Firms Concerned About Expected Drag from Trump Tariffs on Canadian Product Supply By Max Sato (MaceNews) – The U.S. services […]
Fed Gov. Cook, Other Fed Officials Tread Carefully on Monetary Policy Outlook as 2025 Begins
By Steven K. Beckner (MaceNews) – Federal Reserve Governor Lisa Cook joined other Fed officials Monday in opening the new year with ambiguous comments about the outlook for monetary policy. Cook, like several colleagues, gave no indication she is eager to resume interest rate reductions in 2025, preferring to wait to see how inflation and […]
US December ISM Manufacturing Shows Signs of Pickup on Demand Side but Layoffs Continue Until Yearend
–ISM Manufacturing Index at 49.3 Vs. 48.4 in November, Well Above Median Forecast of 48.5–ISM’s Fiore: ‘We Are Concerned’ About Trump Tariff Threat as It Would Cause Supply Chain Confusion–Fiore: ISM Set to Rise Above Neutral Line of 50 in Q1, ‘If Not In January, Probably in February’–Fiore: Not Much Price Pressure; December CPI, PCE, […]
ISM: US Services Sector Expands for 5th Straight Month in November but Posts Sharp Slowdown on Trump Tariff Concerns, Slow Fed Rate Cuts
–ISM Services Index at 3-Month Low of 52.1 vs. 56.0 in October, Well Below Median Forecast 55.5–ISM’s Miller: Trump Tariff Complications Not Accelerating Ongoing Move Away from China–Miller: Higher Costs of Sourcing from Mexico Likely to Be Resolved Via North American Trade Pact As in Past By Max Sato (MaceNews) – Business activity in the […]
US November ISM Manufacturing in Contraction for 8th Straight Month but Shows Signs of Pickup in early 2025; Firms Look at Bright Side of Potentially Business Friendly New Administration
–ISM Manufacturing Index at 48.4 vs. 46.5 in October, Well above Median Forecast of 47.6–ISM’s Fiore: Concerns about Inflationary Fiscal Policy Not Going Away but Optimism over Trump Plans Kicks in–ISM’s Fiore: US Economy on Soft-Landing Course; Still Believes ISM Index Likely to Pick Up Above Neutral Line of 50 in Q1 of 2025 By […]
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 […]