BANK OF CANADA TO BUY PROVINCIAL, CORPORATE DEBT; RAISES OTHER PURCHASES
OTTAWA (MaceNews) – The Bank of Canada left its policy rate unchanged, as expected, and stepped up its asset purchases to include provincial debt and corporate debt, the bank said Wednesday. The bank said it will buy up to C$50 billion in provincial debt, and up to C$10 billion in corporate debt, the latter in […]
DATA FLASH: US RETAIL SALES PLUNGE 8.7% AS CONSUMERS STAYED HOME
–Food Store Sales Jump 25.6%, Most Other Categories Fall Sharply–Empire State Index Drops to -78.2 in April from -21.5 in March–Industrial Production Falls 5.4%, Manufacturing Down 6.3%, Lows Since 1946 By Kevin Kastner WASHINGTON (MaceNews) – As U.S. consumers heeded government warnings to remain home to mitigate the spread of COVID-19, and most business were […]
BANK OF CANADA: WITH COVID-19, OIL PRICE SHOCKS, ECONOMIC OUTLOOK UNCERTAIN
NEW YORK (MaceNews) – Canada’s economy is being hit hard by both the COVID-19 and oil price shock, and the timing and quality of recovery remain uncertain, and hinge on controlling the virus, the Bank of Canada said in its Monetary Policy Report. As restrictions in activity linked to COVID-19 are lifted, the economy will […]
WHITE HOUSE WATCH: RIDING THE WAVE OF OPTIMISM; WILL IT LAST?
By Denny Gulino WASHINGTON (MaceNews) – Whew, that was brutal but it’s finally over. After all, Amazon hit an all-time high, and Apple, Google, Tesla finished strong. The markets look into the future and the markets are telling us it can’t be all that bad, right? Or should we be bracing for the Second Wave? […]
BofA GLOBAL RESEARCH FUND MANAGER SURVEY: RECESSION FEARS DOMINATE
–In April, Global Investors Extremely Pessimistic Re World Growth By Vicki Schmelzer NEW YORK (MaceNews) – Recession fears dominated in April, with global investors extremely pessimistic about world growth prospects in the wake of the spread of COVID-19, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A record net […]
FED’S BULLARD: CAN GET V-SHAPED RECOVERY BUT VIRUS CONTROL KEY
NEW YORK (MaceNews) – The economy can see a rapid recovery in the second half after its abrupt slowing in the current quarter, but key is to ensure that people feel safe to resume normal activities, St. Louis Fed President Jim Bullard said Tuesday. The Fed’s emergency measures to steady financial markets, and fiscal measures, […]
TEXAS OIL REGULATOR IN SPOTLIGHT, WEIGHS LIMITS ON STATE’S OIL OUTPUT
–US DOE Negotiating Oil Storage In Strategic Reserve For Private Companies WASHINGTON (MaceNews) – The three-person Texas Railroad Commission Tuesday is contemplating restrictions on oil production in the country’s largest oil-producing state, something not done since the 1970s, to tackle the supply glut that has caused prices to plummet. This comes as the U.S. Department […]
DATA FLASH: US MARCH IMPORT PRICES FALL 2.3% ON FUEL PLUNGE
–Excluding Fuels, Import Prices Were Flat on Mixed Components By Kevin Kastner WASHINGTON (MaceNews) – U.S. import prices fell by 2.3% in March, primarily on a 26.8% plunge in fuel prices. Outside of the fuel price drop, import prices were flat, with mixed components. Analysts had expected overall import prices to fall by 3.1% after […]
IMF WEO: CHINA TO ESCAPE PANDEMIC ECONOMIC DECLINES
WASHINGTON (MaceNews) – The following is IMF chief economist Gita Gopinath’s summary of the World Economic Outlook update published Tuesday outlining sharp declines in economic activity throughout much of the world with the notable exception of China, where the pandemic originated: The world has changed dramatically in the three months since our last update of […]
WHITE HOUSE WATCH COMMENTARY: ANOTHER ‘DECISION’ DRAMA WITH LIVES IN THE BALANCE
–‘I only hope to God that it’s the right decision.’ By Denny Gulino WASHINGTON (MaceNews) – Many governors and their medical advisers are pondering President Trump’s assertion Friday that “the biggest decision I’ve ever had to make” is something they will want to go along with at the end of the month. Some expressed concerns […]