TBAC CHANGES TACK TO RECOMMEND BIGGER INCREASES IN LONGER MATURITIES – EXCERPT
WASHINGTON (MaceNews) – The private-sector Treasury Borrowing Advisory Committee’s recommendations to the U.S. Treasury, in preparation for Wednesday’s quarterly refinancing announcement, now favor bigger issuance increases in longer maturities. The following is an excerpt from the TBAC report: The Committee discussed the elevated cash balance that Treasury has held in recent months and projects to […]
STATUS CHECK: MUDDLED, MURKY – STILL WEEKEND VIRUS RELIEF SUCCESS EXPECTED
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · The general public, the markets, social service providers, food pantries and shelter providers were left reading between the lines Tuesday as they tried to decode the scant signals being sprinkled like bread crumbs […]
STATUS CHECK: TREASURY TO BORROW $1 TRILLION MORE, OR MAYBE $2 TRILLION
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · Phase 4 or otherwise known as the next corona virus relief legislation is slowly – very slowly – coming together on Capitol Hill, with two and a half hours of talks Monday […]
CHI FED’S EVANS: FED CAN’T MAKE WORKPLACES SAFE
–Economic Activity Seems to be Leveling Off By Suzanne Cosgrove CHICAGO (Mace News) — Chicago Federal Reserve President Charles Evans, hosting a virtual roundtable for news media Monday, said that while the second-quarter gross domestic product was the worst on record, declining at an annualized rate of 32.9 percent, with about 18 million unemployed workers, […]
FED’S BULLARD: US RECOVERY SLOWED IN JULY; WILL BE ‘UPS AND DOWNS’ AS ECONOMY ADJUSTS
NEW YORK (MaceNews) – The U.S. economy slowed in July after surprising to the upside in May and June as it bounced back from its low in April,St. Louis Fed President James Bullard said Monday. Bullard, in webinar remarks at an event hosted by the St. Louis Fed’s Memphis branch, repeated that he expects the […]
DATA FLASH: US MANUFACTURING CLIMBED FURTHER IN JULY
–June Construction Spending Falls on Home Building By Kevin Kastner WASHINGTON (MaceNews) – The July ISM index showed U.S. manufacturing sector activity progressed further, as suggested by the Markit estimate and most of the regional data. Survey respondents in the ISM report noted that while some issues remain, there was considerable improvement in July after […]
WATCH LIST: PHASE 4 TALKS, TRUMP ADS, SCHOOL ADVICE SWITCH, DJIA/NASDAQ DIVERGENCE
WASHINGTON (MaceNews) – The following are Monday’s notable U.S. events and developments worth watching in the days ahead: White House/GOP Senate/Dem House talks to the next virus response legislation approaching crunch time later in week, coming up against Aug 8 summer recess deadline set by Senate. Members of Congress will be getting anxious by Thursday […]
STATUS CHECK: ANOTHER DAY, ANOTHER 1,000 US VIRUS DEATHS
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · Hours of testimony by the nation’s pandemic experts before the House virus oversight committee Friday should have updated the nation with a factual treasure trove of information but instead was mostly a […]
DATA PREVIEW: COVID-19 RESURGENCE TO BE WEIGHED IN JULY DATA
By Kevin Kastner WASHINGTON (MaceNews) – The coming week’s July data will be scrutinized for any early effects of the COVID-19 resurgence, with the highlight of the week being Friday’s monthly employment report. The combined 7.5 million payrolls gain in May and June only began to scratch the surface of offsetting the 22.2 million total […]
DATA FLASH: US JUNE PERSONAL INCOME DROPS AS STIMULUS WINDS DOWN
–US June Personal Income -1.1% After -4.4% in May–Savings Rate 19.0%, Nominal PCE +5.6%, Real PCE +5.2%, Core Prices +0.2%–Chicago PMI Jumped to 51.9 from 36.6 in June, Highest Since May 2019–July Michigan Sentiment Index Revised Down to 72.5, Well Below 78.1 in June By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell further in […]