DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; DURABLE GOODS ORDERS PLUNGE
–Initial Claims – 323,000 to 2.123 Mln; 37.2 Mln Total Under COVID–Durable Goods New Orders -17.2%; Shipments -17.7%–Q1 GDP Revised Down To -5.0% Vs -4.8%, PCE -6.8% By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released earlier Thursday offered few surprises, with the level of initial claims continuing to slide, durable goods orders down […]
BANK OF ENGLAND’S SAUNDERS CALLS FOR MPC TO COMMIT TO FURTHER ASSET PURCHASES
External MPC Member Refuses to Be Drawn on Negative Interest Rates By Laurie Laird LONDON (MaceNews) – A Bank of England rate setter has urged the Monetary Policy Committee to commit to further asset purchases at its upcoming meeting, but refused to be drawn on the possibility of negative interest rates in the UK. Addressing […]
EXPECTATIONS LIFT EURO AREA ECONOMIC SENTIMENT IN MAY, EUROSTAT REPORTS
By Marco Babic ZURICH (MaceNews) – Economic sentiment for the countries sharing the euro improved slightly in May, recovering from historic lows the month before, as industry and consumer sentiment increased while the outlook in the services industry continued to decline, according to data released Thursday by Eurostat. The Economic Sentiment Index rose to 67.5 […]
BOE’S BAILEY HINTS THAT EXPANDED QE WILL PRECEDE ANY RATE CUT
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey Wednesday suggested that the UK central bank is likely to expand its quantitative easing program before embarking on any move to nudge interest rates into negative territory. “We have signaled that we stand ready to do more within the framework of policies we […]
FED’S BEIGE BK: SEVERE DISRUPTIONS CONTINUE; NO QUICK RECOVERY SEEN
–Some Recent Improvement in Autos –Not Seeing Full Hirebacks WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity across the country Wednesday chronicled the continuing – and in some regions, deepening – severe disruption caused by the pandemic with some Districts finding low expectations for a quick rebound and complete rehirings. […]
WEDNESDAY WHITE HOUSE SCHEDULE
WASHINGTON (MaceNews) -The following is the White House public schedule for Wednesday: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, MAY 27, 2020 EDT 10:00AM In-House Pool Call Time 11:20AM Out-of-Town Pool Call Time 11:00AM THE PRESIDENT participates in a meeting with the Governor of New York Oval Office Closed Press 12:20PM THE PRESIDENT […]
DATA FLASH: US MAY CONFIDENCE STOPS SLIDE; NEW HOMES UP
–Dallas Manufacturing Reading in Line with Other Regional Data By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose slightly to a reading of 86.6 in May from a downward revised 85.7 reading in April, stopping the slide at two months but leaving the index well below the recent peak in […]
BOE’S HALDANE SOUNDS CAUTIOUS NOTE ON NEGATIVE UK RATES
— Sees “Modest” Recovery in Recent Consumer Spending LONDON (MaceNews) – The Bank of England’s chief economist sounded a decidedly cautious note on the possibility of negative interest rates in the UK, just a week after BoE Governor Andrew Bailey confirmed that sub-zero rates are actively under review. “Reviewing and doing are different things,” said […]
BANK OF CANADA TAKING RISK MANAGEMENT APPROACH DURING ‘UNKNOWABLE TIMES’
NEW YORK (MaceNews) – The Bank of Canada continues to pursue a risk management approach to policy-making as it faces multiple challenges and uncertainties stemming from the Covid-19 pandemic, retiring Governor Stephen Poloz said Monday. The risk management approach to implementing the bank’s inflation mandate means the bank considers multiple economic models and incorporates soft […]
IFO GERMAN BUSINESS SENTIMENT BETTER IN MAY AS LOCKDOWNS EASE
By Marco Babic VIENNA (MaceNews) – German business sentiment improved overall as a more positive view of future developments overcame a more pessimistic assessment of current conditions. It appears that expectations are improving as lockdown measures due to the coronavirus are being eased. Germany’s Ifo institute reported Monday that business sentiment improved to 79.5 in […]