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 […]
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. […]
ECB’S LAGARDE: EUROZONE ECONOMY LIKELY TO SHRINK 8-10% IN 2020
By Laurie Laird LONDON (MaceNews) – The eurozone economy could shrink by as much as 10% this year, according to the European Central Bank president, a more shallow contraction than envisioned under the bank’s most severe forecast scenario. Addressing an online European youth event, Christine Lagarde predicted the eurozone will suffer a downturn “about double” […]
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 […]