US TSY NOT READY TO ADDRESS ANY FED-CAUSED T-BILL ‘SCARCITY,” MM ‘VOLATILITY’
— ‘Year-End Financing Rates Are Expected to be Volatile Again’ –Changes In T-Bill Issuance May Not Wait Until Next Refunding By Denny Gulino THE TSY DEPT (MaceNews) – The Federal Reserve’s $60 billion-a-month T-bill purchase program intended to stabilize the money markets and prevent liquidity crunches may not prevent more unwelcome volatility at the end […]
BANK OF CANADA HOLDS INTEREST RATE TARGET AT 1.75%
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy appears to be settling into a slower-but-steadier pattern of growth, with inflation remaining relatively unchanged and policymakers maintaining their interest rate target at 1.75%. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said Wednesday in its […]
BANK OF CANADA LEAVES RATES UNCHANGED, EYES GLOBAL SLOWING
By Gordon Isfeld OTTAWA (MaceNews) – The Bank of Canada kept its interest rate target unchanged at 1.75%, as expected, but is watching closely as global economic growth slows, the bank said Wednesday. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said in its quarterly […]
TEXT: US BEA 3Q GDP TECHNICAL NOTE
WASHINGTON (MaceNews) – The following is the U.S. Bureau of Economic Analysis technical note that accompanied the report on third-quarter GDP Wednesday: Gross Domestic Product Third uarter of 2019 (Advance estimate) October 30, 2019 Third Quarter GDP increased 1.9 percent (annual rate) in the third quarter of 2019, following an increase of 2.0 percent in […]
EXCERPT OF TBAC RPT TO TSY: T-BILL SCARCITY ‘COULD DEVELOP’
–‘Year End Financing Rates Ate Expected to be Volatile Again’ US TSY DEPT (MaceNews) – The private-sector Treasury Borrowing Advisory Committee warned the department Treasury bill “scarcity” could develop with implications for the money markets where the Federal Reserve is offsetting liquidity pressures with T-bill purchases, according to documents released by the Treasury Department Wednesday. […]
WHITE HOUSE WATCH: HAVE MKTS SEEN PEAK CHINA, PEAK BREXIT, PEAK NEGATIVE RATES?
By Denny Gulino THE WHITE HOUSE (MaceNews) – With China more resilient than depicted, Europe dithering as usual, President Trump having already flinched on trade, the impeachment inquiry reaching the public relations stage and, most important, global interest rates continuing to slowly lift off, why shouldn’t the S&P 500 be hovering around record levels? The […]
INCOMING ECB HEAD LAGARDE URGES EUROPEAN STRUCTURAL REFORM
By Laurie Laird FRANKFURT (MaceNews) – The incoming president of the European Central Bank stressed the importance of structural reform and expansionary fiscal policy in her final public speech before taking over the reins of the bank, echoing the increasingly-urgent calls of her predecessor, Mario Draghi. Addressing leaders of Europe’s financial and political worlds, Christine Lagarde […]
TRUMP HAILS END OF TOP ISIS LEADER BAGHDADI
–May ‘Have to Fight’ to Retain Control of Syria Oil Fields By Denny Gulino WASHINGTON (MaceNews) – President Donald Trump Sunday morning hailed the death “like a dog” of top ISIS leader Abu Bakr al-Baghdadi and the success without U.S. casualties of a massive Delta Force operation that attacked his compound in Syria near Turkey’s […]
TRUMP-AUTHORIZED DELTA FORCE RAID SEES TOP ISIS LEADER KILL HIMSELF
WASHINGTON (MaceNews) – The ISIS leader who spread terror and built a Caliphate only to see it destroyed,. Abu Bakr al-Baghdadi, killed himself Saturday by detonating a suicide vest in a Delta Force raid authorized by President Trump, according to various reports. The president scheduled a 9 a.m. ET on-camera statement Sunday to confirm the […]
US TREASURY WATCH: AN EARLY START ON DECADE OF TRILLION DLR DEFICITS
–Formal FY’19 Deficit $984 Bln, Biggest Since 2012; Adjusted Deficit $1 trillion By Denny Gulino US TREASURY DEPT (MaceNews) – The formal deficit for the government’s fiscal year was $984 billion, the Treasury announced Friday, and after eliminating some calendar quirks, the red ink totaled $1 trillion, a head start on what congressional estimators say […]