Italy Eyes More Medium-Long Bonds to Lengthen Debt Life – Sources
According to Rome’s government that has carried out several surveys, longer maturities appeal to Italian families as they tend to have lots of savings they prefer to invest in long term investments, and trust the state to hold their money more than banks. “The era of zero rates is over, which means that the cost […]
US June ISM Manufacturing in Contraction for 3rd Straight Month as Demand Remains Weak amid High Interest Rates
–ISM Manufacturing Index Dips to 48.5 from 48.7 in May, Below Median Forecast of 49.1–ISM’s Fiore: Biggest Concern in June Report is over Falling Production–Fiore: Employment Unlikely to Expand Without Significant Pickup in Demand–Fiore: Manufacturing Still ‘Stable’ During Summer Months When Activity Slows Down By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]
Japan May Export Rise Led by Automobiles, Semiconductors as in April; Trade Balance in Deficit for 2nd Straight Month
–Imports Up on Higher Demand for Crude Oil, Products, Computers; Chips Down–Exports to China Post 6th Straight Y/Y Rise, Picking Up from Last Year’s Slump–Exports to US Remain Robust; Those to EU Mark 2nd Straight Y/Y Slip By Max Sato (MaceNews) –Japanese export values rose 13.5% on year in May for the sixth straight increase, […]
INTERVIEW: Ex-BOJ Policymaker Kiuchi Sees Flexible JGB Purchase Program as Fine-Tuning Tool, Expects Only Gradual Rate Hikes to Below 1%
By Max Sato TOKYO (MaceNews) – The Bank of Japan is likely to maintain its “flexible” Japanese government bond purchase program as a “fine-tuning tool” so it can respond to both upside and downside risks to growth and inflation, instead of clearly reducing JGB buying from the current monthly pace of about ¥6 trillion, Takahide […]
FOMC Holds Funds Rate Steady; No Rate Cut Til Confident Inflation Headed to 2%
–Fed Officials Project Single 25 BP Rate Cuts in 2024 –Powell Calls CPI ‘Encouraging,’ But Wants More Data To Gain ‘Confidence’ By Steven K. Beckner (MaceNews) – The Federal Reserve’s policy making Federal Open Market Committee again held the federal funds rate steady Wednesday and gave no indication it will be cutting that key money […]
TRANSCRIPT: Fed’s Powell Says Waiting for Better Inflation Data, In Addition to ‘Encouraging’ CPI Report
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell’s bottom line is that more inflation data is needed before any rate cuts regardless of the “dot plot” and regardless of the day’s encouraging Consumer Price Index report. The transcript of his post-FOMC news conference follows: Inflation has eased substantially from a peak of 7% to 2.7% […]
FOMC Stands Pat Hints of More Hawkish Stance; ‘Dot Plot’ Sees One Rate Cut This Year
WASHINGTON (MaceNews) – The Federal Open Market Committee kept the fed funds rate as is again this time around while the “dot plot” projections that accompanied the policy statement contained hints of a slightly more hawkish stance, seeing just one rate cut this year. The statement text, with no dissents, follows: Recent indicators suggest that […]
Fed’s Beige Book Shows Lukewarm Growth, Less Jobs Pressure, Retail and Auto Sales Mostly Flat
WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic activity coast-to-coast Wednesday showed generally lackluster growth but only two districts – Dallas and Boston – with little or no improvement. The survey, prepared for the June 11-12 Federal Open Market by the Dallas Fed found most districts with ‘negligible to modest” job gains, prices increasing […]
Japan April Core CPI Annual Rate Eases to 3-Month Low of 2.2% on Smaller Processed Food, Durable Goods Price Gains; Overall Energy Costs Edge Up After Long Drop
–Total CPI +2.5% Y/Y Vs. +2.7% in March Despite High Fresh Food Prices–Core-Core CPI (Ex-Fresh Food, Energy) Annual Rate Eases to 19-Month Low of 2.4% By Max Sato (MaceNews) – Consumer inflation in Japan moderated in all three key measures in April in light of easing food and durable goods markups, offsetting the slight upward […]
White House and Other Schedules for Tuesday, May 14
WASHINGTON (MaceNews) – The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR TUESDAY, MAY 14, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In […]