GERMAN BUSINESS SENTIMENT JUMPS BY RECORD AMOUNT IN JUNE
By Marco Babic ZURICH (MaceNews) – Business sentiment in Germany improved by a record amount in June, with current conditions and the expectations components rising in tandem, Ifo Institute reported Wednesday. The IFO Institute business sentiment index rose by a record amount to 86.2 in June from a revised reading of 79.7 (79.5) in May. […]
DATA FLASH: MAY EXISTING HOME SALES LIKELY HIT BOTTOM
By Kevin Kastner WASHINGTON (MaceNews) – Existing home sales fell for the third straight month in May, but the current month’s data reflects contract signings in March and April at the worst points of the shutdown. It is expected that this may be the bottom for home resales. National Association of Realtors Chief Economist Lawrence […]
WHITE HOUSE WATCH COMMENTARY: THE HAZARDS/OPPORTUNITIES OF RISING EXPECTATIONS
By Denny Gulino WASHINGTON (MaceNews) – This Juneteenth, things have really changed, with pollsters saying never before has U.S. public opinion changed so dramatically and so fast as in the 26 days since the gruesome killing of George Floyd. If only history showed that such turning points were typically the beginning of more easily achieved […]
DATA PREVIEW: AFTER PARTIAL RECOVERY IN MAY, FOCUS TURNS TO JUNE
By Kevin Kastner WASHINGTON (MaceNews) – After solid improvement in the May U.S. data released over the last two weeks, the focus in the coming week turns to the early-June regional conditions data. June readings from the New York Fed and Philadelphia Fed released this previous week indicated continued improvement, with the Philadelphia Fed’s reading […]
OPEC-PLUS WATCHDOG URGES GREATER COMPLIANCE WITH AGREED PRODUCTION CUTS
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Complete adherence to the recent accord on oil production limits is paramount to rebalancing oil market fundamentals and ensuring stability in the industry, the OPEC-plus watchdog group warned Thursday. The Joint Ministerial Monitoring Committee (JMMC) is co-chaired by Russia and Saudi Arabia’s energy ministers, […]
DATA FLASH: US INITIAL CLAIMS FALL FURTHER, PHILADELPHIA FED JUMPS
––Initial Claims -58,000 to 1.508 Mln; 41.8 Mln Unadj Total Under COVID-–Philly Fed Manufacturing Index Surges to 27.5 in June from -43.1 in May By Kevin Kastner WASHINGTON (MaceNews) – U.S. initial jobless claims filings fell further in the current week, but the pace of weekly declines has slowed and the level itself remains extremely elevated. […]
BANK OF ENGLAND SLOWS ASSET PURCHASES AS CONSUMER SPENDING PICKS UP
— Base Rate Remains at Record-Low 0.1% By Laurie Laird LONDON (MaceNews) – The Bank of England will decrease the pace of its emergency quantitative easing program, noting that the UK has not suffered as much as feared during the economic shutdown implemented in late March. “Recent payments ant other high frequency data suggested that […]
FED’S MESTER: ‘VERY ACCOMMODATIVE POLICY NEEDED’ WITH FUNDS RATE UNCH. THROUGH END 2022
NEW YORK MaceNews) – Cleveland Federal Reserve President Loretta Mester said monetary policy needs to stay “very accommodative” and she agrees with her colleagues that the federal funds target should remain unchanged through 2022. In remarks for delivery on a webinar, said she and her colleagues agree a recovery is under way beginning in the […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
BNK OF AMERICA GLOBAL FUND MANAGER SURVEY SEES CAUTIOUS OPTIMISM
–Fret Any Second COVID-19 Wave –World Stocks Deemed Most ‘Overvalued’ Since 1998 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in June were cautiously optimistic about world growth, but wary that a second wave of COVID-19 could weigh on economic prospects, according to the findings of BofA Global Research’s monthly fund manager survey, […]