Japan’s October Energy-Led CPI Rise Capped by Deeper Mobile Phone Discounts
— Gasoline, Heating Oil, Utilities Costs Up Sharply Amid Rising Energy Markets — Total CPI Marks 2nd Straight Y/Y Gain; Slower on Fresh Food Price Drop — Producer Price Spike Has Limited Impact on CPI But BOJ Sees Gradual Pickup By Max Sato (MaceNews) – Core consumer prices in Japan maintained a small step upward […]
Eurozone October Final HICP Rose 4.1% vs Year Ago, Matching Preliminary Result
ZURICH (MaceNews) – Inflation in the countries sharing the euro rose 4.1% in October, according to final figures released today by Eurostat, and confirmed the preliminary result. Energy prices were the main driver of the gain as they were 23.7% higher than year ago levels, and contributed 2.21 percentage points to the overall increase, according […]
MaceNewsViews – Commentary: President Biden-President Xi Talked For Nearly Four Hours – Exactly What Happened?
By Eric Ham WASHINGTON (MaceNews) – The long-awaited meeting between leaders of the two largest economies talked for nearly four hours Monday night and some of the exchanges were “incredibly direct.” There were several readouts afterwards by the U.S. side, a brief appearance Tuesday at the Brookings Institution think tank by National Security Adviser Jake […]
Japan September Machine Orders Flat, Posting Only Small Q3 Gain
–Japan Govt Keeps View: Pickup in Machine Orders Pausing –Q3 Core Orders Far Below Official Forecast; Q4 Seen Up Moderately By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, were unchanged in September, coming in weaker than a rebound forecast by many and following a surprise slip […]
Japan Oct Exports Slow on Parts Supply Delays; Steel, Machine Demand Solid
— Imports Up on Rising Energy Costs, Leading to 3rd Straight Trade Deficit By Max Sato (MaceNews) – Year-on-year growth in Japanese exports continued to lose momentum in October as Covid-triggered delays in parts supply from Southeast Asia, microchip shortages and congestion at international ports have forced carmakers and others to trim output and shipments, […]
San Fran Fed’s Daly Calls For ‘Patience’ Regarding Monetary Tightening
–Wants More ‘Clarity” Before Adjusting Taper Pace, Funds Rate –Moved Liftoff Date From 2024 to 2023; Not Sure About 2022 Given Delta –Data Too ‘Cloudy’; Tightening Policy Further Could Be ‘Costly,’’Mistake’ By Steven K. Beckner (MaceNews) – San Francisco Federal Reserve Bank President Mary Daly called Tuesday for “patience” and urged the Fed to await […]
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 […]
White House Transcript of Biden-Xi Backgrounder Briefing
WASHINGTON (MaceNews) – The following is the White House transcript of the late Tuesday background teleconference in which reporters were briefed on the three-hour virtual meeting of Pres Biden and China’s President Xi: Background Press Call by Senior Administration Officials on President Biden’s Virtual Meeting with President Xi of the People’s Republic of China Via […]
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 […]
US Data Preview Commentary: Retail Sales, Housing Starts, and More Angst About Threats of Partisan Violence
By Denny Gulino WASHINGTON (MaceNews) – A week of ordinary and not too consequential economic data, like October retail sales and housing starts, a US-China summit chat, the signing of BIF (Amtrak fans rejoice) and more socioeconomic angst reflected in a flurry of essays about America’s threatened civil war. No one needs to be told […]