Thursday, 21 March, 2024
Britain’s economy is “moving in the right direction” for the Bank of England to start cutting interest rates, Governor Andrew Bailey said as two of his colleagues dropped their vote a rate hike. The BoE’s interest rate-setters voted 8-1 to keep borrowing costs at their 16-year high of 5.25% on Thursday as the two officials who had previously called for higher rates changed their stance. Most economists polled by Reuters had expected one member of […] Read More
Tuesday, 19 March, 2024
{US} Timiraos (WSJ) – The Fed Is Playing a Waiting Game on Rate Cuts. The Rules Are Starting to Change. While investors focus on whether officials project fewer rate cuts, the Fed looks ahead to recession risks https://www.wsj.com/economy/central-banking/federal-reserve-interest-rate-cuts-rules-bd19a124 Read More
Thursday, 14 March, 2024
Corporate defaults running at highest level since global financial crisis, says S&P (FT) This year’s tally of corporate defaults stands at 29, the highest year-to-date count since the 36 recorded during the same period in 2009, according to S&P. There have been 17 defaults in the US, with eight in Europe. The average number of defaults for the same period in the years 2010-23 was slightly more than 16, according to the S&P data. Subdued […] Read More
Thursday, 14 March, 2024
We’ve seen ppi miss before after a cpi beat SFRH5 30bps off post-payroll highs on fri and close to the 95.715 yearly lows We starting to build longs in SFRH5 ahead of US data Some UST upside for tomorrow exp 111 c is 9/11 111.25 call for 4 (looks good) 111/111.5 cs for 8 {EU} RX upside for tomorrows expiry 133 call for 10 with a nice delta is the one you would be after Read More
Tuesday, 12 March, 2024
{au} Philip Lowe backs RBA’s caution on rate cuts https://www.smh.com.au/business/the-economy/philip-lowe-backs-rba-s-caution-on-rate-cuts-20240312-p5fbsy.html Read More
Monday, 04 March, 2024
Fed’s Bostic: No urgency to cut interest rates given US economy’s strength – Reuters News 04 Mar 2024 17:00:00 By Howard Schneider WASHINGTON, March 4 (Reuters) – The U.S. Federal Reserve is under no urgent pressure to cut interest rates given a “prospering” economy and job market, Atlanta Fed President Raphael Bostic said in remarks that highlighted the risk inflation may get stuck above the central bank’s 2% target or be sent higher by “pent-up […] Read More
Thursday, 29 February, 2024
Post PCE Equities in focus: While the street turns myopic focus to today’s Core PCE data – the most important inflation read since the last inflation reading – we look forward to tomorrow’s PMI data. Last month, the aggregate Global manufacturing PMI started to turn, having spent a year in a bottoming phase of contraction. – The JPM Global Manufacturing PMI hit 50-expansionary territory for the first time since the start of 3Q22. – The […] Read More
Tuesday, 27 February, 2024
*BOE’S RAMSDEN SAYS CAN’T TAKE STABILITY FOR GRANTED *BOE’S RAMSDEN SAYS STARTING TO NORMALIZE BALANCE SHEET https://www.bankofengland.co.uk/speech/2024/february/david-ramsden-keynote-address-at-association-for-financial-markets-forum Read More
Friday, 23 February, 2024
Where mortgage stress is on the rise For all the back-slapping about the absence of a recession and assuredness around a soft landing, this cycle is not yet over. Christopher Joye Columnist This column has been banging the table relentlessly about the fact the path for global services inflation will determine what happens to asset prices in 2024. The argument has been that most of the improvement in the inflation pulse has been an artefact […] Read More
Friday, 23 February, 2024
Goldman Pushes Back Bet on First Fed Interest-Rate Cut to June2024-02-23 06:49:02.283 GMT By Malcolm Scott(Bloomberg) — Goldman Sachs Group Inc. economists havepushed back their view on when the Federal Reserve will begincutting interest rates to June after parsing recent commentsfrom the central bank and minutes of its January meeting.The US investment bank has dropped its forecast for a Maycut and now expects four reductions this year, versus fivepreviously, with moves in June, July, September […] Read More
