Japan Govt Sees Economy Fighting Off Covid, Wants BOJ to Achieve ‘Sustainable’ 2% Inflation
By Max Sato (MaceNews) – Japan’s government Wednesday maintained its economic overview for May after upgrading it for the first time in four months in April as consumer spending appears to have overcome an Omicron-hit slump but it also warned about continued uncertainty over global growth amid Chinese Covid lockdowns and the Ukraine war, according […]
Japan Q1 GDP Slips on Import Surge but Domestic Demand Resilient Despite Covid Spike
–Private Consumption Flat Vs Sharp Drop Forecast, Capex Rise Solid–Imports Jump on Covid Vaccine Purchases, Outpacing Export Growth–Q2 GDP Rebound Expected but High Costs, Supply Constraints Linger By Max Sato (MaceNews) – Japan’s economy contracted slightly in the January-March quarter after a sharp rebound in October-December as a surge in imports pushed down net exports, […]
Powell Vows Fed Will ‘Keep Going’ Til ‘Clear And Convincing’ Evidence Inflation Falling
FOMC Will Hike ‘More Aggressively” if Inflation Doesn’t Cool Won’t Hesitate To Raise Funds Rate Beyond Neutral Unemployment May Have to Rise ‘A Few Ticks’; Landing May Have To Be ‘Softish’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell vowed Tuesday the Fed will continue to raise interest rates until it sees […]
BofA Global Research Fund Manager Survey: Global Investors Load Up On Cash, Shun Tech in May As Extreme Bearishness Permeates Sentiment
— Highest Cash Levels since 9/11— Biggest Tech Short since August 2006 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors loaded up on cash and shunned the tech sector in May as extreme bearishness permeated market sentiment, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Average cash balances […]
Preview Update: Japan Q1 GDP Contraction Seen Amid Covid Restrictions, Supply Delays
–Consumption Hit by Public Health Rules During Most of January-March –Capex Slower on Supply Constraints, High Producer Costs Amid Ukraine War –Q2 GDP Rebound Expected as Economy Reopens but Uncertainty Lingers –Japan GDP Report at 19:50 ET Tuesday By Max Sato (MaceNews) – Japan’s gross domestic product for the January-March quarter is forecast by economists […]
Japan March Household Spending Rebounds M/M on Eased Covid Rules
–Spending Posts 1st Y/Y Drop in 3 Months as People Cook Less at Home –January-March Spending Dips Q/Q, Hit by Omicron-led Spike in Covid Cases By Max Sato (MaceNews) – Japan’s real household spending posted the first month-on-month rise in three months in March as the government eased public health restrictions and the weather improved […]
Japan April Tokyo CPI Jumps to Around 2% as Mobile Phone Charge Discount Base Effects Ease Off 
–BOJ Board Sees CPI Jump in FY22 as Temporary; FY23 CPI to Slip Back to 1% –Utilities, Food Prices Lead Inflation; Impact of Energy Market Spike Seen Fading Next Year –Energy Prices Post 1st Slowing in Current Y/Y Rise Phase; Govt Subsidies Capping Gasoline Markups By Max Sato (MaceNews) – The year-on-year rise in consumer […]
Bank of Canada Rogers: Need Higher Interest Rates, To Watch How Economy Responds
–Senior Deputy Governor Says BOC ‘Not on Autopilot’ in Rate Actions –Rogers: ‘We Have Tools, Committed to Getting Inflation Back to Target’ By Max Sato (MaceNews) – Interest rates in Canada need to rise further to stave off overheating from a “remarkably fast” recovery from the pandemic-caused slump but policymakers are “not on an autopilot” […]
Japan March Retail Sales Rebound as Govt Eases Covid Restrictions 
–METI Repeats Retail Sales Are Flat After Downgrading Its View in February –Department Store Sales Rebound, Fuels Up, Demand for Medicine, Cosmetic Solid By Max Sato (MaceNews) – Japanese retail sales rebounded on the year in March while marking the first monthly rise in four months as the government eased public health restrictions and the […]
FOMC Seems Sure to Go 50 Basis Points on May 4, but After That Rate Path Uncertain
By Steven K. Beckner (MaceNews) – It now seems all but guaranteed that the Federal Reserve will raise short-term interest rates for a second straight Federal Open Market Committee meeting in early May, but it is less certain what the Fed will do thereafter. With a 50 basis point hike in the federal funds rate on May 4 considered a foregone conclusion, the real […]