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April 14, 2021

Inflation

IMF says Japan’s economy can weather change of plan in Olympics

Reuters
TOKYO (Reuters) -Cancelling or postponing the Tokyo Olympics Games probably will not hurt Japan’s economy much, but may require the government to offer targeted support for hard-hit small firms, a senior International Monetary Fund official said. FILE PHOTO: The giant Olympic rings are silhouetted in the sunset, amid the coronavirus......

Surprise drop in Japan machinery orders stokes recovery fears

Reuters
TOKYO (Reuters) – Japan’s core machinery orders unexpectedly fell the most in about a year in February, government data showed, dashing hopes for a pick-up in capital expenditure needed for a private sector-led recovery from the coronavirus-induced slump. FILE PHOTO: Smoke rises from a factory during the sunset at Keihin......

The Biden Administration Is Quietly Obsessing Over Inflation

New York Times
“We think the likeliest outlook over the next several months is for inflation to rise modestly,” two officials at Mr. Biden’s Council of Economic Advisers, Jared Bernstein and Ernie Tedeschi, wrote on Monday in a blog post outlining some of the administration’s thinking. “We will, however, carefully monitor both actual......

Fed’s Harker says central bank will ‘hold steady’ for now

Reuters
FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File Photo (Reuters) – The U.S. economy could grow by around 5% to 6% this year, buoyed by increased vaccinations and strong fiscal aid, but the Federal Reserve is not going to pull back......

S&P futures cut losses after tame inflation report, Nasdaq futures rise

CNBC
CNBC – For more and to sign up click here U.S. stock futures gyrated on Tuesday after a March inflation report turned out not as bad as some traders feared but the impact of a halt to the rollout of Johnson & Johnson vaccines kept optimism in check. Futures tied......

Consumer prices rise more than expected on jump in gas prices and as recovery heats up

CNBC
CNBC – For more and to sign up click here Consumer prices shot higher in March, given a boost both by a strong economic recovery and year-over-year comparisons to a time when the Covid-19 pandemic was about to throttle the U.S. economy, the Labor Department reported Tuesday. The consumer price......

Sudan’s annual inflation rate rises to 341% in March

Reuters
KHARTOUM (Reuters) – Sudan’s annual inflation rate climbed to 341% in March from 330% in February, the country’s statistics agency said on Monday. Sudan, which has one of the highest rates of inflation in the world, sharply devalued its currency in February in an attempt to overcome a crippling economic......

UK economy to return to pre-COVID-19 level around mid-2022: Reuters poll

Reuters
LONDON (Reuters) – Britain’s economy will be back to its pre-COVID-19 level around the middle of next year, according to economists in a Reuters poll who said unemployment would peak at 6.2% as 2021 draws to a close and the pandemic job support scheme ends. FILE PHOTO: The City of......

Market braces for key inflation report Tuesday that may test the Fed’s mettle

CNBC
CNBC – For more and to sign up click here Shoppers wearing protective masks push shopping carts inside a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images The pace of consumer inflation is likely to have returned to prepandemic......

Instant View: India’s retail inflation rises to 5.52% in March

Reuters
(Reuters) – India’s retail inflation rose to 5.52% in March from a year earlier, government data released on Monday showed. A vendor waits for customers at his shop inside a vegetable market in Kolkata, India, February 12, 2020. REUTERS/Rupak De Chowdhuri/Files Analysts in a Reuters poll had predicted annual inflation......

Powell says it’s ‘highly unlikely’ the Fed will raise rates this year, despite stronger economy

CNBC
CNBC – For more and to sign up click here Federal Reserve Chairman Jerome Powell Kevin Lamarque | Reuters Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell on Sunday reaffirmed the central bank’s commitment to keep loose monetary policy on place. That includes a......

Earnings season should boost hot financial stocks, RBC’s top bank analyst predicts

CNBC
CNBC – For more and to sign up click here One of the year’s hottest trades may get a boost from earnings season. RBC Capital Markets’ Gerard Cassidy expects financials to exceed Wall Street expectations when they start reporting this week. “The big beats are likely to come from the......

Lagarde sees strong rebound for EU economy in second half, expects U.S. to meet inflation goal soon

CNBC
CNBC – For more and to sign up click here European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. Kai Pfaffenbach | Reuters Despite a difficult struggle against the......

NY Fed may make technical adjustment due to asset purchases, official says

Reuters
FILE PHOTO: The cornerstone for the Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri (Reuters) – The Federal Reserve’s ongoing asset purchases are lifting bank reserves to new highs and contributing to a new......

Op-ed: Tech boost is temporary, and more pain is ahead

CNBC
CNBC – For more and to sign up click here Investors should be able to take advantage of bullish momentum in tech stocks for at least the next couple of months. In my last post on the subject on Feb. 4, the takeaway was “tech’s reign of relative dominance has......

Fed officials expect it will be ‘some time’ before it starts tightening policy, minutes show

CNBC
CNBC – For more and to sign up click here Federal Reserve officials indicated at their last meeting that the pace of asset purchases is unlikely to change anytime soon while the central bank pursues its economic goals. The Federal Open Market Committee on Wednesday released minutes from the March......

Fed presses ahead on policy debate as economy takes off

Reuters
WASHINGTON (Reuters) – Last month’s U.S. Federal Reserve meeting showed policymakers were universally optimistic in their overall economic outlook, but divisions among them over how much longer to keep massive central bank support in place were on display Wednesday. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured......

Futures struggle for direction ahead of Fed minutes

Reuters
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid/File Photo (Reuters) – U.S. stock index futures were little changed on Wednesday as investors stayed on the sidelines ahead of minutes from the Federal Reserve’s last......

Brazil cenbank would need big inflation outlook shift to change ‘partial normalization’ stance

Reuters
BRASILIA (Reuters) -Brazil’s central bank will continue with its “partial normalization” of monetary policy unless it sees signs of inflation and inflation expectations rising significantly, central bank President Roberto Campos Neto said on Tuesday. FILE PHOTO: Brazil’s Central Bank President Roberto Campos Neto attends a news conference, amid the coronavirus......

China’s blue-chip index ends lower as healthcare, consumer stocks slip

Reuters
SHANGHAI, April 6 (Reuters) – China’s blue-chip index retreated on Tuesday, pressured by healthcare and consumer companies, as upbeat economic data raised worries of policy tightening. ** The blue-chip CSI300 index fell 0.4% to 5,140.34, while the Shanghai Composite Index was flat at 3,482.97. ** As of last close, the......

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