TEXT: STAFF BRIEFS FOMC RE YIELD CURVE CAPS, FORWARD GUIDANCE, ASSET PURCH
— Simulations Suggest Highly Accommodative Conditions ‘For Many Years’ WASHINGTON (MaceNews) – The Federal Open Market Committee most recent meeting saw participants discuss all the pandemic-related effects and probabilities already covered in Fed speeches and comments since. However the FOMC minutes released Wednesday also had a unique disclosure, the staff briefing for participants on yield […]
DATA FLASH: US MANUFACTURING MOVES BACK TO POSITIVE IN JUNE
–May Construction Spending Falls Sharply–June ADP Points to Further Job Recovery; Challenger Shows Layoffs Continue By Kevin Kastner WASHINGTON (MaceNews) – The June ISM index showed U.S. manufacturing sector activity improved further, in line with the regional and Markit data. Survey respondents in the ISM report noted a rebound in demand has kept factories busy. […]
EUROZONE ECONOMIC SENTIMENT ROSE BY RECORD AMOUNT IN JUNE
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro increased by a record amount in June, extending the turnaround which started in May, with employment expectations also increasing, the European Commission reported Monday. Economic sentiment improved to 75.7 in the euro area, rising 8.2 points, which is the largest monthly increase on record, […]
DATA PREVIEW: WILL EMPLOYMENT REPORT PROVIDE EARLY FIREWORKS?
By Kevin Kastner WASHINGTON (MaceNews) – Before the Fourth of July holiday, there are plenty of opportunities for the June U.S. data to create further buzz after a partial recovery in May. The employment report released Thursday – early because of the pending holiday – is undoubtedly the highlight of the week ahead of Friday’s […]
DATA FLASH: US MAY PERSONAL INCOME SLOWS, SPENDING SOARS
–US May Personal Income -4.2% After Stimulus-Led Surge in April–Savings Rate 23.2%, Nominal PCE +8.2%, Real PCE +8.1%, Core +0.1%–June Michigan Sentiment Revised Down to 78.1, Still Up From 72.3 in May By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell in May after a large runup in April on government stimulus payments, while spending […]
DATA FLASH: US INITIAL CLAIMS SLOW; DURABLE GOODS ORDERS SURGE
–Initial Claims -60,000 to 1.480 Mln; Pace of Decline Continues To Flatten–May Durable Goods New Orders Jump 15.8%; Shipments Up 4.4%–Q1 GDP, Real PCE Both Unrevised As Analysts Focus On Massive Q2 Decline––May Adv Trade Gap -$74.3 Bln, Wholesale Inventories -1.2%; Retail -6.1% By Kevin Kastner WASHINGTON (MaceNews) – The massive amount of data released simultaneously […]
GERMAN CONSUMER CONFIDENCE IMPROVES AS ECONOMY REOPENS: GFK
ZURICH (MaceNews) – German consumers appear more optimistic as economic stimulus and the opening of the economy are boosting expectations, Germany’s Gfk Institute reported Thursday. GfK projects that its measure of consumer confidence will be -9.6 in July, an improvement from a revised -18.6 (-18.9) in June, rising for a second consecutive month. However, GfK […]
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 […]