Thursday, 21 May, 2015
(Bloomberg) — Asian stocks pared gains as a preliminary Chinese factory gauge missed estimates, reinforcing the need for further government stimulus. U.S. equity-index futures retreated and the dollar was weaker against most peers after a three-day rally. The MSCI Asia Pacific Index added 0.1 percent by 2:10 p.m. in Tokyo, as the Hang Seng China Enterprises Index fell 0.4 percent. Shares in Shanghai and Shenzhen advanced. Standard & Poor’s 500 Index futures slipped 0.2 percent. […] Read More
Wednesday, 20 May, 2015
(Bloomberg) — Bank of England policy makers said slack in the economy will probably be fully eroded within a year, signaling potential future inflation pressures that will require policy tightening. In the minutes of its May policy meeting, the Monetary Policy Committee said while there was uncertainty about estimates of spare capacity, the panel’s best collective view was that the level of slack was about 0.5 percent of GDP and “likely to be fully absorbed […] Read More
Wednesday, 20 May, 2015
(Bloomberg) — The dollar traded at a two-week high versus the euro and extended gains against the yen, while Treasuries advanced before the Federal Reserve releases minutes of its last meeting. Oil rallied for the first time in six days. The Bloomberg Dollar Spot Index climbed 0.3 percent by 8:15 a.m. in London, after its biggest two-day advance since 2011. The euro slipped 0.6 percent and the yen dropped 0.3 percent. The yield on 10-year […] Read More
Tuesday, 19 May, 2015
(Bloomberg) — New residential construction in the U.S. surged in April to the highest level in more than seven years, indicating the industry has moved beyond a weather-related soft patch to regain strength. Housing starts jumped 20.2 percent to a 1.14 million annualized rate, the most since November 2007, from a 944,000 pace in March, a Commerce Department report showed Tuesday in Washington. The median forecast of 83 economists surveyed by Bloomberg was 1.02 million. […] Read More
Tuesday, 19 May, 2015
(Bloomberg) — The European Central Bank intends to increase its purchases of euro-area assets in May and June ahead of an expected low-liquidity period in the summer, Executive Board member Benoit Coeure said. “We are also aware of seasonal patterns in fixed-income market activity with the traditional holiday period from mid-July to August characterized by notably lower market liquidity,” Coeure said, according to the text of a speech delivered in London on Monday. “If need […] Read More
Tuesday, 19 May, 2015
(Bloomberg) — Board agreed May’s statement communicating rate-cut decision “would not contain any guidance on the future path of monetary policy. Members did not see this as limiting the board’s scope for any action that might be appropriate at future meetings,” RBA says in minutes of May 5 meeting released in Sydney. * Board discussed whether to cut rates in May or wait until June: “they could see cases both for moving at this meeting […] Read More
Tuesday, 19 May, 2015
(Bloomberg) — Asian shares rose, led by Chinese equities, while bonds in the region tracked a resumption of selling in international markets. New Zealand’s dollar jumped on increased inflation expectations, and silver retreated. The MSCI Asia Pacific Index climbed 0.3 percent by 2:16 p.m. in Tokyo, with a measure of Chinese companies in Hong Kong jumping 2.1 percent. U.S. equity-index futures were higher after the Standard & Poor’s 500 Index and Dow Jones Industrial Average […] Read More
Monday, 18 May, 2015
(Bloomberg) — The dollar rose from a four-month low while Treasuries slid on speculation economic data this week will bolster the case for higher interest rates. A gain in Apple Inc. dragged U.S. stocks to record levels. The Standard & Poor’s 500 Index rose 0.2 percent at 11:35 a.m. in New York, extending an all-time high. Apple rose 1.3 percent after a billionaire investor called for a bigger buyback. The Bloomberg Dollar Spot Index climbed […] Read More
Monday, 18 May, 2015
(Bloomberg) — Australia retains scope to lower interest rates further, the central bank’s second in command said, while warning against spurring a debt-fueled spending boom. “There is a fairly fine line to tread” in balancing the need to encourage household spending and business investment while preventing imbalances emerging in the economy, Deputy Governor Philip Lowe said in Sydney Monday. Australia has been trying to engineer a transition from mining since late 2011 when investment and […] Read More
Friday, 15 May, 2015
(Bloomberg) — Consumer confidence unexpectedly fell in May by the most in more than two years as Americans’ views on the economy dimmed. The University of Michigan preliminary index of sentiment dropped to 88.6, the lowest since October, from 95.9 in April. The 7.3 point decrease was the largest since December 2012. The outcome was lower than the lowest estimate of 68 economists surveyed by Bloomberg. News that the world’s largest economy stalled last quarter […] Read More
