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 […]
Japan Q3 GDP Slump Deeper Than Expected on Weaker Consumption, Capex
By Max Sato (MaceNews) – Japan’s economy plunged at a much faster pace than expected in the July-September quarter, after a modest rebound in April-June, as a Covid resurgence dampened shopping and dining out while supply chain disruptions hampered business investment, Cabinet Office data released Monday showed. The gross domestic product slumped a preliminary 0.8% […]
MaceNewsViews: Commentary – Democrats Celebrating (Perhaps Fleeting) Victory
By Eric Ham WASHINGTON (MaceNews) – On Monday, President Biden will sign into law the $1.2 trillion bipartisan infrastructure bill, a cornerstone of the president’s agenda, in a lavish ceremony with many supporters and even a few Republicans present. The bill provides billions for roads and bridges across the nation and much more, for instance […]
PREVIEW: Japan Q3 GDP Seen Down as Covid Spreads, Supply Squeeze Lingers
By Max Sato (MaceNews) – Japan’s gross domestic product for the July-September quarter is forecast by economists to show a 0.2% slump on quarter, or an annualized 0.8% drop, as consumers were cautious amid a resurgence in coronavirus infections and global supply chain disruptions slowed business investment and exports. The median forecast for Q3 […]
Japan October Producer Price Rise Fastest in 4 Decades on Energy, Commodities, Yen
By Max Sato (MaceNews) – Producer prices in Japan surged at the fastest annual pace in four decades, as the pandemic-caused global supply chain disruptions, labor shortages and reopening demand have pushed up the costs for production and shipments, data released Thursday by the Bank of Japan showed. The depreciation of the yen has also […]
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, […]