USTR LIGHTHIZER CASTS CHINA RELATIONSHIP IN ROSY HUES
–Doing OK in Adherence to Phase 1 Commitments –China Pullback in Ag Purchases ‘Not True.’ NEW YORK (MaceNews) – President Trump’s top trade negotiator Thursday cast U.S.-China relations, at least in his sphere, in unexpectedly positive terms and called reports of a setback in purchases of U.S. soybeans perhaps the result of “disinformation.” U.S. Trade […]
BANK OF CANADA’S GRAVELLE: POLICY-MAKERS ‘HOPEFUL,’ WATCHING DATA AS ECONOMY REOPENS
NEW YORK (MaceNews) – Bank of Canada policy-makers are hopeful the pandemic’s economic impact has peaked, but admit there’s much uncertainty how the recovery will unfold, BOC Deputy Governor Toni Gravelle said Thursday. Gravelle, in remarks prepared for delivery during an online meeting, said the bank will be watching economic data closely to gauge the […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; APRIL TRADE GAP WIDENS
-–Initial Claims -249,000 to 1.877 Mln; 38.8 Mln Total Under COVID–-Int’l Trade Gap $49.4 Bln vs $42.3 Bln In March; China Gap Surges-–Nonfarm Productivity Rev Up to -0.9%, Unit Labor Costs Rev Up to +5.1%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. initial claims data came in above expectations Thursday but still posted a ninth […]
SIFMA SURVEY: ’20 GDP -5.5%; ’21 +4.7%; NO NEGATIVE RATES
NEW YORK (MaceNews) – A survey of 26 chief economists of global and regional financial institutions Tuesday saw U.S. fourth quarter to fourth quarter GDP falling 5.5% this year and rebounding strongly next year with a 4.7% gain. The survey, taken through May 28, also found no expectation for the Federal Reserve to purposely employ […]
PRES TRUMP CLEARS PATH THROUGH PROTEST TO STAND AT ST. JOHN CHURCH
–‘Law and Order’ President Threatens Military Force Across Couintry By Denny Gulino WASHINGTON (MaceNews) – President Trump Monday posed with a Bible at a vandalized church across the street from the White House along with his defense secretary and attorney general declaring he is ending rioting and arson even if it takes active military force. […]
DATA FLASH: US MANUFACTURING CONTRACTION SLOWED IN MAY
-April Construction Spending Declined, As Suggested by Housing Data By Kevin Kastner WASHINGTON (MaceNews) – The May ISM index Monday showed U.S. manufacturing sector activity contracted further, but at a slower pace, in line with the regional and Markit data. Survey respondents in the ISM report noted while COVID-19 continues to weigh heavily on business […]
DATA PREVIEW: AFTER A 20M JOBS DROP, WHAT’S NEXT?
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. April data were, in a word, horrible. There was no silver lining, except that it was, hopefully, the worst we will see and that some relative recovery began over last few weeks. The May business conditions data already released continued their downward trend, but the pace of […]
DATA FLASH: APRIL INCOME LIFTED BY STIMULUS, BUT NO PLACE TO SPEND
–US April Personal Income +10.5%, Transfer Payments +89.6% on Stimulus–Savings Rate 33.0%, Nominal PCE -13.6%, Real PCE -13.2%, Core Prices -0.4%–May Chicago PMI Falls to 32.3 from 35.4 in April–May Michigan Sentiment Index Revised Down to 72.3 After 71.8 in April By Kevin Kastner WASHINGTON (MaceNews) – Personal income surged in April on the large […]
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 […]
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. […]