GERMANY’S ECONOMIC SENTIMENT IMPROVES DECEMBER DESPITE LOCKDOWN
By Marco Babic ZURICH (MaceNews) – Improved current economic conditions and expectations pushed overall economic sentiment in Germany higher in December, even with increased lockdown measures due to COVID-19. The Ifo Business Climate Friday rose to 92.1 in December from a revised 90.9 (90.7) the previous month, and was well above the median forecast of […]
US LABELS SWITZERLAND, VIETNAM CURRENCY MANIPULATORS; NOT CHINA
–Tracking China Interventions ‘Closely’ By Denny Gulino WASHINGTON (MaceNews) – The U.S. Treasury Department Wednesday signaled that Switzerland and to a much lesser extent Vietnam are manipulating their currencies, in part at least, for a competitive advantage in trade while China, having briefly been so designated up until January, was not included. Switzerland renewed its […]
BoA FUND MANAGER SURVEY: GLOBAL INVESTORS EYE POST-COVID-19 RECOVERY IN 2021, PUT CASH TO WORK IN DEC
By Vicki Schmelzer NEW YORK (MaceNews) – In anticipation of a post-COVID-19 economic recovery in 2021, global investors began more markedly to put cash to work in December, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. In December, a net 89% of fund managers looked for global growth […]
ITALY’S G20 PRESIDENCY TO FOCUS ON ‘NEW MULTILATERALISM’ WITH BIDEN ADMIN. – SOURCES
By Silvia Marchetti ROME (MaceNews) – Italy’s G20 presidency aims to act as a European bridge toward a “new multilateralism” with the US administration of President-elect Joe Biden, said ruling coalition sources. “It’s an historical moment: it’s the first time Italy has the G20 presidency, and after too many years of US isolationism there is […]
GERMANY SEES REBOUND IN ECONOMIC SENTIMENT IN DECEMBER ON COVID-19 – ZEW
By Marco Babic ZURICH (MaceNews) – Economic sentiment in Germany bounced back in December from a decline the previous month, as pending approvals for a COVID-19 vaccine pushed expectations higher, the Mannheim based ZEW institute reported Tuesday. The Index of Economic Sentiment for Germany rose 16.0 points to 55.0 in December, well above the median […]
ITALY’S 5 STARS DISSIDENTS TO VOTE AGAINST ESM REFORM, GOVT AT RISK – SOURCES
By Silvia Marchetti ROME (MaceNews) – Dissidents within Italy’s 5 Stars Movement ruling party will vote Wednesday against authorizing the European Stability Mechanism reform, and their opposition could spur a government collapse, 5 Stars sources said. Premier Giuseppe Conte is scheduled to address parliament on Wednesday on Italy’s position ahead of a key European Union […]
NOTED BOE DOVE ADOPTS MORE CAUTIOUS TONE ON NEGATIVE RATES
By Laurie Laird LONDON (MaceNews) – One of the more dovish Bank of England rate setters has adopted more cautious view toward sub-zero interest rates in the UK, stressing that the development of a Covid vaccine could herald a more-rapid-than-expected return to normal financing conditions. Silvana Tenreyro, an external member of the Bank’s Monetary Policy […]
ITALY WORKING ON PLAN TO START ISSUING GREEN BONDS – SOURCES
By Silvia Marchetti ROME (MaceNews) – Italy’s government is honing its first-ever green bonds issuance plan to be launched soon to fund environmental projects, according to ruling coalition sources. Key investment areas have been identified but the framework, containing the standards and list of specific projects, is still to be defined, though sources say it will […]
EURO AREA BUSINESS SENTIMENT POSTS FIRST DROP SINCE APRIL
By Marco Babic ZURICH (MaceNews) – Economic sentiment in the euro area fell in November for the first time since April when the effects of the first COVID-19 wave pushed sentiment sharply lower. The Economic Sentiment Index (ESI) for the countries sharing the euro fell “markedly” in November to 87.6 from 91.1 the previous month, […]
ECB’S SCHNABEL SUGGESTS EXTENDING TIME FRAME TO RETURN INFLATION TO TARGET
— Rate setter says the Bank has lost the “trust” of the public By Laurie Laird LONDON (MaceNews) — A key European Central Bank official Tuesday suggested adjustments to bank’s mandate, particularly the timing of returning inflation to target, while hinting that historically-loose monetary policy could become ever-less effective in stimulating economic growth. “It could […]