BOE’S BROADBENT DOWNPLAYS PROSPECTS OF UK RECOVERY IN H2
— Sees OBR forecast of 35% decline in output in Q2 as “not unreasonable”— Decision on expanded QE expected early next month By Laurie Laird LONDON (MaceNews) – A Bank of England deputy governor Monday endorsed a grim forecast of a massive economic contraction in the second quarter, but warned that a rapid recovery may […]
WHITE HOUSE WATCH: ‘DECLINING TRAJECTORY’ DOES NOT NECESSARILY MEAN DECLINING
By Denny Gulino WASHINGTON (MaceNews) – The first rule of virus reporting is to focus on what the virus is doing, despite the many distractions from the White House and statehouses, from anti-mitigation demonstrations to progress reports on testing and the chronic complaints of short supplies. On a beautiful Sunday in many parts of the […]
WHITE HOUSE WATCH COMMENTARY: HOPES VS REALITY? OR HOPES BECOME REALITY?
By Denny Gulino WASHINGTON (MaceNews) – The virus is still moving, killing more than 2,000 people in the United States for the fourth day in a row Friday and only for the fifth time ever. The death toll is leveling, on a deadly plateau. Except in those states like Illinois, where the daily death toll […]
IHME: VIRUS DEATHS MAY HAVE PEAKED TWO DAYS AGO; SOME OPENINGS POSSIBLE MAY 4
–Vermont, West Virginia, Montana, and Hawaii May See Early Reopening –Iowa, N/South Dakota, Nebraska, Utah, Arkansas, Oklahoma May Need to Wait Until Late June/Early July. WASHINGTON (MaceNews) – The following is the text of a summary of state-by-state analysis of Covid-19 spread and infection rates published Friday afternoon byone of the leading analysis projects, that […]
WHITE HOUSE WATCH COMMENTARY: THE REOPENING, CHAPTER ONE: THE QUESTIONS
By Denny Gulino WASHINGTON (MaceNews) – By one count there were 2,174 virus deaths in the United States in the latest 24 hours, not the worst day this week, yet the question that suggests itself is whether Thursday was the best day to encourage governors to start planning for recovery. “Our experts say the curve […]
NY FED’S WILLIAMS: TOO SOON TO KNOW SCALE OF ECONOMIC DISRUPTION
NEW YORK (MaceNews) – The full scale of economic fallout from the COVID-19 pandemic remains unknown, but the Federal Reserve has acted decisively to support recovery, New York Fed President John Williams said Thursday. “Although stresses in financial markets will not entirely abate until the pandemic is behind us, we have seen material improvements in […]
DATA FLASH: US INITIAL CLAIMS CONTINUE TO PILE UP; MARCH HOUSING STARTS PLUNGE
–Initial Claims Level Fell By 1.370 Mln to 5.245 Mln, Continuing Claims Spike–Housing Starts Pace Slows to 1.216 Mln SAAR, Permits Slow to 1.353 Mln–April Philadelphia Fed Index Drops To -56.6, Echoing Drop in Empire Survey By Kevin Kastner WASHINGTON (MaceNews) – The growth rate of initial claims slowed further in the April 11 week […]
WHITE HOUSE WATCH COMMENTARY: VIRUS TOPS ANOTHER GRIM RECORD AMID JAGGED MOSAIC
By Denny Gulino WASHINGTON (MaceNews) – The virus continued painting a clear picture Wednesday of death on the march, killing more in the latest day than ever before, while all the elements that could make up a different picture, of success against the disease, remains a muddled mess. A status report with two weeks to […]
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 […]
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? […]