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 […]
German Economic Sentiment Declined in April, First Drop Since November 2020; ZEW
ZURICH (MaceNews) – The economic outlook in Germany fell in April, declining for the first time since November 2020 on concerns a stricter lockdown will dampen private consumption, according to ZEW. The Economic Sentiment Index unexpectedly fell in April, down 5.9 points to 70.7, and well below the Econoday median forecast of 77.0 and the […]
Italy Hones EU Pandemic Aid Plan, Reforms ‘Key’ Part – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is honing a key pro-growth plan to deploy European pandemic aid which will be forwarded to Brussels by the end of April and will include ambitious investments alongside structural reforms, according to ruling coalition sources. In order to apply for European funds the European Commission must greenlight […]
ECB Rate Setter Refuses to Rule Out Additional PEPP Purchases to Lift Inflation to Target
By Laurie Laird — Fabio Panetta calls inflation outlook “unsatisfactory” LONDON (MaceNews) – A leading European central banker lamented the eurozone’s chronically-low inflation, refusing to rule out an extension of the current asset purchase programme if inflation remains below target. “We do have room for manoeuvre, because so far we have only used part of […]
Italy Government To Issue ‘Gloomy’ Fiscal Outlook, Downgrade Growth Target, Say EU Aid ‘Not Enough’ – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is expected to clear a “gloomy” fiscal document by April 10 as the pandemic outlook remains uncertain and European aid might not be enough to kickstart the recovery, according to ruling coalition sources. Premier Mario Draghi’s new cabinet will likely downgrade the growth target for this year […]