BofA Global Research Fund Manager Survey: Global Investor Sentiment Plunges as Macro Pessimism Surges
–US Equity Allocation Sees Biggest Monthly Drop on Record By Vicki Schmelzer NEW YORK (MaceNews) – A drop in expectations that the U.S. economy will outperform and rising worries about the global economy prompted a “bull crash” in global investor sentiment in March, according to BofA Global Research’s monthly fund manager survey, released Tuesday. When […]
TARIFFS STATE OF PLAY: Trump Tariffs Go Global – A Small Start Compared to What’s Coming
WASHINGTON (MaceNews) – The new worldwide 25% U.S. tariffs on steel and aluminum Wednesday – with no exemptions – piled atop the now 20% levied on China goods, 22 days away from the start of the nation’s far bigger experiment in confrontational trade policy, “reciprocal tariffs.” As expected, retaliatory tariffs also began to accumulate, first […]
Bank of Canada Continues to Provide Measured Rate Relief Amid High Uncertainty over Growth, Inflation Triggered by Trade War
–BOC Trims Policy Rate By 25 Basis Points To 2.75% in 7th Straight Rate Cut as Widely Expected–Governor Macklem: Governing Council Will Proceed ‘Carefully’ with Any Further Changes to Policy Rate–Macklem: Council Didn’t Seriously Consider 50-Basis Point Cut Due to Uncertainty Over When and How Much Trade War Will Boost Prices–BOC Surveys: Threats of New […]
ISM: US Services Sector Expands for 8th Straight Month in February While Concerns Over Trump Tariffs Darken Outlook
–ISM Services Index at 53.5 in February Vs. 52.8 in January, Above Median Forecast 52.7–ISM’s Miller: Services PMI Has Been Trending Down but More Stable Now, Points to Sustained Growth on Year–Miller: Jump in ISM February Manufacturing Prices Paid Index Amid Higher Commodities Markets Not Yet Feeding Through to Services Prices By Max Sato (MaceNews) […]
TARIFFS STATE OF PLAY: Confusion as Tariffs and Tariff Threats Multiply
WASHINGTON (MaceNews) – As one round of tariffs took effect Tuesday and more were threatened, rampant uncertainty permeated plunging U.S. stock markets while interest rates continued to dramatically ease. Analysts found themselves giving contradictory assessments on the business channels as the probabilities for more Federal Reserve rate cuts this year were coupled with dire predictions […]
Japan Still Sees Modest Economic Recovery but Warns It Now Needs to Watch Future US Policy amid Headwinds of Inflation, Middle East Tensions, Weak Yen
By Max Sato (MaceNews) – Japan’s government maintained its overall assessment that the economy’s “modest recovery” is set to continue thanks to wage hikes amid widespread labor shortages, but urged a close watch on the future U.S. government policy as well as lingering high costs for necessities, geopolitical risks and the weak yen. In its […]
Japan Government Slightly Upgrades Its View on Economic Recovery after BOJ Conducts 2nd Rate Hike in July
By Max Sato (MaceNews) – Japan’s government upgraded its overall economic assessment for the first time in six months, noting consumer spending is supported by wage hikes and temporary income tax credits, but the change in wording is subtle and it continues to say the economy is recovering “moderately.” In its monthly report for August […]
Japan May Export Rise Led by Automobiles, Semiconductors as in April; Trade Balance in Deficit for 2nd Straight Month
–Imports Up on Higher Demand for Crude Oil, Products, Computers; Chips Down–Exports to China Post 6th Straight Y/Y Rise, Picking Up from Last Year’s Slump–Exports to US Remain Robust; Those to EU Mark 2nd Straight Y/Y Slip By Max Sato (MaceNews) –Japanese export values rose 13.5% on year in May for the sixth straight increase, […]
Japan Government Keeps Its View on Economic Recovery, Downplaying Q1 GDP Slump as Mainly Caused by Temporary Vehicle Output Suspension
Japan government keeps view on economy
White House and Other Schedules for Thursday, April 25
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, APRIL 25, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the President will […]