Italy Aims to Repeat Success of April’s USD 30-Year Bond Sale with Reopening Likely in Next Few Days – Sources
By Silvia Marchetti ROME (MaceNews) – Italy will be reopening a 30-year maturity USD-denominated bond by issuing additional amounts, potentially as soon as the end of this week, according to ruling government coalition sources. The goal is to replicate the success of the previous placement of a SEC-registered global bond denominated in US dollars with […]
Facing Debt Buildup, Italy Pressing for More Lenient EU Fiscal Rules Post-Covid – Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pressing its European Union partners to define new, more relaxed fiscal rules for the post-Covid era and warns of financial instability ahead unless the EU acts quickly, according to ruling Italian coalition sources. The debate at EU level on the need to reform the Stability and Growth […]
Germany’s Current Economic Situation Negatively Impacted by Supply Bottlenecks and Inflation Concerns
ZURICH (MaceNews) – While the economic outlook for Germany improved for six months hence, current conditions are being negatively impacted by supply bottlenecks and concerns over inflation, according to the latest survey data from the ZEW Institute in Mannheim. Current conditions fell more than expected in November, with the index shedding 9.1 points to 12.5, […]
Italy’s Parliament Battle Against the ‘Citizenship Wage’ Will Open Further Cracks in Ruling Majority – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s parliament attempt to ‘dismantle’ the controversial citizenship wage will open further cracks in the governing coalition and is likely to raise political instability, according to ruling party sources. The citizenship wage – a monthly income granted to the jobless as long as they have an Italian passport – […]
Eurozone Economic Sentiment Unexpectedly Rose in October
ZURICH (MaceNews) – Economic confidence in the countries sharing the Euro rose unexpectedly in October, up 0.8 points to 118.6 from 117.8 in September, according to the latest date from the European Commission. Economists had been expecting a pullback in sentiment according to the median forecast of 117.1 in an Econoday survey of economists’ forecasts. […]
German Oct Business Confidence Dampened by Supply Delays
ZURICH (MaceNews) – Business confidence in Germany was hampered by supply delays, according to the latest report from the Munich-based Ifo institute. The IFO Business Climate Index fell to 97.7 in October, slightly below the Econoday median of 98.1 in a survey of economists’ forecasts. The September result was revised to 98.9, from the 98.8 […]
ECB’s Monetary Policy To Stay On Course Despite Inflation Rise – BOI
By Silvia Marchetti ROME (MaceNews) – The European Central Bank’s monetary policy is expected to remain accommodative despite the “significant” but “temporary” rise in inflation across the eurozone, the Bank of Italy said in its Economic Bulletin released on Friday. According to the BOI “the significant rise in inflation is attributable to the increases in […]
Bundesbank’s Weidmann Makes Surprise Announcement, to Step Down at Year End
— ECB Governing Council to Lose One Of Its Most Hawkish Rate Setters By Laurie Laird LONDON (MaceNews) – Jens Weidmann, president of Germany’s Bundesbank, will relinquish his position at the end of 2021, ridding the European Central Bank of one its most hawkish voices. Weidmann has asked German President Frank-Walter Steinmeier to “dismiss” him […]
BofA Global Research Fund Manager Survey: Increasingly Negative World Growth Outlook Prompt Former Bulls To Retreat in October
By Vicki Schmelzer — Record Underweight in Bonds On Rate Hike Jitters NEW YORK (MaceNews) – World growth expectations fell more markedly in October, prompting formerly bullish global investors to retreat, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Growth expectations were weighed by fears of higher interest rates, […]
Italy to Clear EUR20-25 Billion Budget Plan with Tax Cuts and Pension Fixes – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government will approve by end of this week the 2022 budget plan worth up to EUR 25 billion with tax cuts, pro-growth measures and a fix to the current pension system, according to sources. “We’re holding a preliminary meeting today to define the general framework but we still […]