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
Friday, 15 May, 2015
(Bloomberg) — Stocks rose in Europe and Asia while bonds gained, stabilizing after a debt-market selloff that erased more than $400 billion of value in three weeks. The dollar pared a fifth weekly decline. The Stoxx Europe 600 Index added 0.3 percent to 8:34 a.m. in New York. Standard & Poor’s 500 Index futures increased less than 0.1 percent. Chinese shares listed in Hong Kong rose for the first time in four days. Treasury 10-year […] Read More
Friday, 15 May, 2015
(Bloomberg) — Chinese shares slid, cutting their gains since an interest-rate cut in half, while the dollar pared its fifth straight weekly retreat. Asian bonds followed gains in the U.S. and Europe, while oil headed toward its longest rising streak in 32 years. The Shanghai Composite Index tumbled 2 percent by 12 p.m. in Tokyo, trimming its advance since China cut rates this week to 2 percent. The MSCI Asia Pacific Index fluctuated and Standard […] Read More
Thursday, 14 May, 2015
(Bloomberg) — The dollar slipped to the lowest level in almost four months against major peers, while European bonds extended a selloff that’s wiped more than $400 billion from global markets. Treasuries pared gains before a sale of 30-year bonds and U.S. equity-index futures advanced. The Bloomberg Dollar Spot Index retreated 0.3 percent at 7:24 a.m. in New York. The yield on 10-year German bunds rose four basis points to 0.76 percent while the rate […] Read More
