BOC’S WILKINS: ‘WORRY A LOT’ ABOUT DOWNSIDE
–Hints that Canada’s Central Bank to Echo Fed’s Dovishness By Peter Diekmeyer OTTAWA (MaceNews) – Senior Deputy Governor Carolyn Wilkins provided hints Thursday that the Bank of Canada will continue to mirror the U.S. Federal Reserve’s increasingly dovish policies. “We worry a lot about the downside,” said Wilkins to Toronto Board of Trade audience members following […]
FED’S POWELL DOESN’T SPOIL THE FUN; DATA/UNCERTAINTY RULE
–Cross-Currents To Continue and So ‘Patience’ Remains Watchword By Denny Gulino WASHINGTON (MaceNews) – The markets were hanging on Federal Reserve Chairman Jerome Powell’s every word Wednesday afternoon and as he answered questions after the Federal Open Market Committee meeting stocks were roaring, the dollar was weakening, Treasury prices were rallying and pundits everywhere mostly […]
FOMC: NORMALIZATION? READY TO ADJUST IF NECESSARY
WASHINGTON (MaceNews) – The Federal Open Market Committee, having repeated its willingness to be “patient” in its judgments about a strong economy, Wednesday issued a separate statement that was equally reassuring about the pace of normalization – yet refrained from any actual action. There was no assessment of the balance of risks and no big […]
US TSY REFUNDING: TBAC SEES 10-YEAR FINANCING GAP
WASHINGTON (MaceNews) – The private-sector committee of bond market participants advised the Treasury Department that it saw a “significant financing gap” opening up in the next decade as budget deficits expand and foreign participation diminishes. The minutes of the Treasury Borrowing Advisory Committee or “TBAC” were released Wednesday morning along with the department’s borrowing estimates […]
US TSY: NO INCREASE IN AUCTION SIZES; $84B BORROW IN QTR
–$38 Bln in 3-years, $27 Bln in 10-years;$19 Bln in 30-year bonds WASHINGTON (MaceNews) – In its quarterly refunding annouoncement Wednesday morning, Treasury said it plans to offer $84 billion in securities to refund $54.1 billioin in notes and bonds, about what was expected for the upcoming quarter, in which no increase in issuance […]
ECB ACKNOWLEDGES DOWNSIDE RISKS; POLICY UNCHANGED
–Euro Area Risks ‘Have Moved to the Downside’ By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank said Thursday it has no immediate plans to loosen monetary policy, despite acknowledging a substantial loss of economic momentum in the euro zone and highlighting potential headwinds to the euro zone expansion. “The risks surrounding the euro […]
FED’S BEIGE BK: ‘MANY’ DISTRICTS REPORT LESS OPTIMISM
–Dallas ‘Markedly Less Optimistic’; Boston ‘Somewhat Slower’ WASHINGTON (MaceNews) – The Federal Reserve’s latest “Beige Book” survey of economic conditions around the country Wednesday found the usual “modest to moderate” expansion continuing in eight of the regional bank districts – coupled with a somewhat ominous observation that in “many” of the districts, optimism has dimmed. […]
FED’S POWELL: ONE MORE TIME – ‘PATIENT’
–Probability of a Recession This Year ‘Not Elevated’ By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell Thursday repeated reassuring words like “patient,” that persuaded markets there will be no rate hike late this month and fewer than earlier expected for the balance of the year. As the minutes released Wednesday of the […]
CANADA’S POLOZ DOVISH, FOLLOWING BOC STANDING PAT
–Cites Declining Oil, Continued ‘Froth’ in Housing By Peter Diekmeyer OTTAWA (MaceNews) – The Bank of Canada Wednesday kept its policy interest rate steady at 1.75% for a second straight session, as expected, and slashed its GDP growth projection for 2019 to 1.7% from 2.1%. The BoC cited numerous reasons for a more dovish tone in […]
FOMC MINUTES: PROSPECTS OF FUTURE HIKES ‘LESS CLEAR’
–Chairman Powell’s Switch to ‘Patient’ Actually No Switch at All By Denny Gulino WASHINGTON (MaceNews) – The latest Federal Open Market Committee minutes Wednesday acknowledged policymakers were “less clear” about the extent and timing of future rate hikes in light of concerns about global growth in mid-December and willing to be more “patient,” a fact […]