Wednesday, 20 September, 2023
Quantitative strategists at BofA raised their year-end target for the S&P 500 to 4,600 from 4,300, saying that the net message of the bank’s five indicators — including on the macro cycle, valuations and positioning — is bullish. New target implies about 3.5% upside from Tuesday close Strategists led by Savita Subramanian also note that “AI is part of this,” as well as automation and labor efficiency They see better returns for the equal-weighted S&P […] Read More
Wednesday, 20 September, 2023
*GBP/USD EXTENDS LOSSES AFTER UK CPI, DROPS 0.4% TO 1.2346 Read More
Wednesday, 20 September, 2023
Goldman Raises 12-Month Brent Oil Forecast to $100 From $93 (Bloomberg) — Bank now expects “modestly sharper inventory draws,” analysts including Daan Struyven and Callum Bruce say in Sept. 20 note. Significantly lower OPEC supply and higher demand to more than offset higher US production “Overall, we believe that OPEC will be able to sustain Brent in an $80-$105 range in 2024 by leveraging robust Asia-centric global demand growth (1.8m b/d) and by exercising its […] Read More
Tuesday, 19 September, 2023
The Reserve Bank fears financial deterioration in China will batter the Australian economy as the OECD warns the Chinese government may have limited tools to counter the slowdown, which could act as a drag on growth globally. The Reserve Bank board considered raising interest rates by a quarter percentage point earlier this month due to the threat of inflation remaining too high for too long, but risks from China’s downturn and unknown effects of previous […] Read More
Monday, 18 September, 2023
RANKFURT, Sept 18 (Reuters) – European Central Bank policymakers want to soon start discussing how to tackle the multi-trillion-euro pool of excess liquidity sloshing around banks, with raising reserve requirements a possible first move, six sources told Reuters. The debate, likely to start at the ECB’s next meeting in Athens on Oct. 26 ot at an autumn retreat for policymakers, marks a new phase in its fight against inflation. The central bank for the 20 […] Read More
Wednesday, 13 September, 2023
ECB’s crucial 2024 projection to put inflation above 3%, source says – Reuters News Sentiment: Mostly Negative 12 Sep 2023 21:16:57 By Francesco Canepa FRANKFURT, Sept 12 (Reuters) – The European Central Bank expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a tenth consecutive interest rate increase on Thursday, a source with direct knowledge of the discussion told Reuters on Tuesday. The ECB begins a two-day […] Read More
Wednesday, 06 September, 2023
(Bloomberg) — Investors largely betting against a European Central Bank interest-rate increase next week are “maybe” underestimating the likelihood of it happening, according to Governing Council member Klaas Knot. Klaas Knot While a slowdown in the euro zone’s 20-nation economy is sure to damp demand, updated inflation projections won’t differ much from the last round in June, the Dutch central bank chief said. Whether such an outlook, which only just envisages price gains returning to […] Read More
Wednesday, 06 September, 2023
(Bloomberg) — European Central Bank Governing Council member Francois Villeroy de Galhau said interest rates are near a peak, but declined to indicate if that means the institution should hike or hold next week. “I’m not going to say today what we will decide Sept. 14, all the more so because our options are open for this meeting as they are for following meetings,” the Bank of France Governor said on BFM Business. “But I’m […] Read More
Wednesday, 06 September, 2023
*ECB’S KNOT: FURTHER HIKE IS A POSSIBILITY BUT NOT A CERTAINTY *KNOT: ECB INFLATION OUTLOOK WON’T DIFFER MUCH FROM LAST QUARTER *KNOT: MARKETS ABSORBING BALANCE-SHEET SHRINKING `QUITE WELL’ *ECB GOVERNING COUNCIL MEMBER KNOT SPEAKS IN INTERVIEW *ECB’S KNOT: WOULD CAUTION AGAINST TOO MUCH PESSIMISM ON ECONOMY *KNOT: RELUCTANT NOW TO REVISIT GUIDANCE ON PEPP REINVESTMENTS *SNB 7 DAY DOLLAR REPO RATE AT 5.58% *KNOT: WOULDN’T BE HAPPY IF INFLATION ONLY REACHES 2% AFTER 2025 *ECB’S […] Read More
Friday, 25 August, 2023
Powell Remarks Friday at Jackson Hole (Full Text) By Katia Dmitrieva (Bloomberg) — The following is a reformatted version of prepared remarks titled “Inflation: Progress and the Path Ahead” that Federal Reserve Chair Jerome Powell is delivering Friday at Jackson Hole: Good morning. At last year’s Jackson Hole symposium, I delivered a brief, direct message. My remarks this year will be a bit longer, but the message is the same: It is the Fed’s job […] Read More
