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 […]
Eurozone March Flash HICP Rises to 1.3% Year-on-Year on Energy Costs
ZURICH(MaceNews) – Inflation in the Euro-area increased in March, rising 1.3% year-over-year, driven higher by rising energy costs, according to data released by Eurostat. The March result matched the median forecast of an Econoday survey of economists, and was well above the 0.9% rate in February. Compared to a month ago, prices also rose 0.9%, […]
Eurozone Economic and Consumer Confidence Improved in March
ZURICH (MaceNews) – Economic sentiment in the Euro-area rose sharply in March and is above it’s long-term average for the first time since the COVID-19 outbreak began, the European Commission said in its latest report Tuesday The Economic Sentiment Indicator (ESI) rose 7.6 points in March to 101.0, exceeding the median forecast of 96.0 in […]
Italy Eyes New USD-Denominated Bond Maturities in 2021, Aims To Become a ‘Frequent Issuer’ – Sources
By Silvia Marchetti ROME (MaceNews) – Italy aims to issue more USD-denominated bonds with new and potentially “unconventional” maturities this year as it seeks to become a “frequent issuer” and turn the U.S. operation into the cornerstone of its global issuance program, according to ruling coalition sources. “Our recent U.S. denominated bonds placement registered a […]
Germany’s IFO March Business Sentiment Rises Significantly
ZURICH (MaceNews) – German business sentiment rose significantly in March, to the highest level since June of 2019, as current conditions and the outlook components exceeded both expectations and the result of the previous month. The Ifo Institute’s Business Sentiment Index rose in March to 96.6 from a revised 92.7 (92.4) in February, beating the […]
Eurostat: Final Feb Inflation in Euro Area +0.9%/Feb
ZURICH (MaceNews) – Inflation in the Euro-area rose 0.9 percent in February, confirming the preliminary figure, Eurostat reported Wednesday. The February result matched the median of an Econoday survey of economist’s forecasts and was the same rate as in January. On a monthly basis, prices rose 0.2 percent. The overall gain was mitigated by a […]
BofA Global Fund Manager Survey: Inflation Jitters Knock COVID-19 Off Perch As Top ‘Tail Risk’
By Vicki Schmelzer NEW YORK (MaceNews) – Inflation jitters knocked COVID-19 off its long-held perch as the top “tail risk” feared by global investors, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Up until this month, COVID-19 has been the primary concern of fund managers since February 2020, the […]