BofA Global Research Fund Manager Survey: Investors Pare Equity Positions, Increase Cash Holdings in May
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors pared equity positions and increased cash holdings in May, driven by a rethink of growth and inflation expectations, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A net 84% of those polled in May looked for stronger world economic growth […]
Germany’s ZEW Economic Sentiment Surges to Highest Reading Since February 2000
ZURICH (MaceNews) – Economic sentiment in Germany rose to its highest reading in May since February of 2000, as the third wave of the COVID-19 pandemic has slowed, according to the latest report from the ZEW Institute in Mannheim. The Economic Sentiment index for Germany rose 13.7 points to 84.4 in May, far surpassing economists’ […]
Italy to Push for Overhaul of EU Fiscal Rules, Investments Exempted from Deficit – Sources
By Silvia Marchetti ROME (MaceNews) – Rome will push for a revision of tight European fiscal rules to take into account a post-COVID economy, allowing member states to run higher pro-growth deficits net of strategic investments without running into sanctions, according to Italian ruling coalition sources. “There’s growing consensus in Europe on the need to […]
Eurozone April Flash HICP Rises 1.6% Y/Y on Energy Prices; Ex-Energy +0.8% Y/Y
ZURICH (MaceNews) – Inflation in the Eurozone accelerated to 1.6% year-on-year, rising from a 1.3% rate in March, driven higher by energy prices, according to the latest figures from Eurostat. The result was in-line with the median forecast of an Econoday survey of economists. Excluding energy prices which rose 10.3% on a year-on-year basis in […]
Eurozone Economic Sentiment Shows Strong Gains in April and Beats Expectations
ZURICH (MaceNews) – Sentiment in the Euro-area showed a marked improvement in April, driven by an all-time high for industrial sentiment, and is now above the pre-pandemic level for the first time, according to the latest European Commission report. The Economic Sentiment Index (ESI) rose to 110.3 in April, resoundingly above the 103.0 median forecast […]
Italy Readies Sale of New USD-Denominated Bonds, Likely In Coming Days – Sources
By Silvia archetti ROME (MaceNews) – Italy is likely to issue two new maturities of more USD-denominated bonds over the next few days, potentially by the end of this week, according to ruling coalitions sources. It will be a two-tranche issuance with a 3-year and a 30-year maturity each with the goal to further complete […]
German IFO Business Sentiment Shows Slight Improvement in April
ZURICH (MaceNews) – Business sentiment in Germany improved slightly in April, as managers viewed current conditions more favorably, according to the latest report from the Ifo institute in Munich. The Business Climate Index rose to 96.8 from 96.6 in April, the report showed Monday, but failed to meet economists’ expectations for an increase to 97.5, […]
ECB To Accelerate PEPP Purchases With Immediate Outlook Still Subject to Downside Risks
By Laurie Laird — April meeting Affirms Conclusions of March gathering LONDON (MaceNews) – The European Central Bank will continue to accelerate purchases through its emergency quantitative easing programme, with the eurozone economy still facing immediate downside risks. An “ample degree” of monetary accommodation remains necessary, said ECB President Christine Lagarde, briefing reporters after Thursday’s […]
US Tsy’s FX Report Finds No Formal FX Manipulators, Adds to Monitoring List
WASHINGTON (MaceNews) – The U.S. Treasury Department, in its latest evaluation of whether other countries use foreign exchange as a means to boost its competitiveness in trade under criteria set by two different laws, gave China and every other country a pass, but added to its list of countries it closely monitors. The summary of […]
BofA Global Research Fund Manager Survey: Investors Upbeat About Growth, Eye Rising Yields and Inflation
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors were upbeat about world growth prospects in April, but at the same time keeping a close eye on rising yields and inflation, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A net 90% of those polled in April looked for […]