Financial Stability Board sets out plans to minimise “too-big-to-fail” clearing house risk February 1, 2017 The Financial Stability Board (FSB) has set out proposals for new rules around “living wills” for clearing houses to ensure they do not become a new source of “too-big-to-fail risk”. The blueprint, published today, is designed to ensure that collapsing clearing houses, or CCPs, do not cause further damage to the financial system and are not [...]
How Trump’s presidency might affect your investments February 1, 2017 | City Talk While Donald Trump’s presidency is not the only factor that could affect investments in 2017, it is potentially a major one. Trump’s plans to boost employment, rebuild infrastructure and bring businesses back to the US could have massive repercussions, both positive and negative, for global trade and growth. His policies have already had an effect. [...]
US production growth booms as manufacturing expands at fastest rate since 2014 February 1, 2017 The US manufacturing sector grew faster than expected in January to expand at the fastest rate since the end of 2014, according to a widely followed indicator of economic health. The purchasing managers’ index (PMI) for America’s manufacturers reached 56 per cent, according to the Institute of Supply Management (ISM), up from 54.5 per cent [...]
Gold prices fall as the US churns out solid economic data February 1, 2017 Strong economic data from the US has pushed gold prices lower today. The safe haven asset is currently down 0.58 per cent to $1,204.40 per ounce, recovering slightly from a low of $1,200.60 per ounce. The spot price took a hit of 0.41 per cent at $1,205.76. The yellow metal's falling price came as the US recorded stronger than expected [...]
The City A.M. Shadow Monetary Policy Committee votes to hold rates steady February 1, 2017 The Bank of England (BoE) is expected to leave interest rates and its quantitative easing policy unchanged at the latest meeting of the rate-setting Monetary Policy Committee (MPC). Most economists expect serious talk of a rate rise to be reserved until the latter half of the year at least – and the possibility remains of a further [...]
Saudi oil minister welcomes Trump energy policies February 1, 2017 The Trump administration’s energy policies, including planned growth in US oil production, are good for the oil industry, according to Saudi Arabia’s oil chief. “He has steered away from excessively anti-fossil fuel, unrealistic fossil fuel policies,” Khalid Al-Falih said in a BBC interview. As a candidate, Donald Trump had warned that he would be taking [...]
US private sector smashes expectations as most jobs added since June February 1, 2017 The US private sector jobs market smashed economists’ consensus expectations in January in a further sign the labour market in the world’s largest economy is heating up. Employment in the US private sector rose by 246,000 jobs in the last month, according to payrolls company ADP, the fastest rate since June 2016. This far outstripped [...]
Healthy manufacturers boost sterling and the FTSE 100 February 1, 2017 A strong set of data from the UK and the Eurozone have pushed up the value of sterling against the dollar, with the FTSE 100 benefiting as well. The manufacturing purchasing managers’ indices (PMIs) were strong across Europe as the sector continues to expand healthily. Sterling had dipped at the end of Asian trading against [...]
UK’s producers are quick off the blocks as Eurozone sees five-year high in manufacturing activity February 1, 2017 UK manufacturers have shrugged off big input price increases to start 2017 in fine form, while activity in the Eurozone has reached its highest point since a debt crisis almost brought the continent’s economy to its knees, according to closely watched indicators. Growth in the sector’s output reached its highest point since May 2014 as [...]
Why the economics profession remains blind to the benefits of Brexit February 1, 2017 The office for National Statistics last week estimated that the UK economy grew at an annual rate of 2.4 per cent in the final quarter of last year. This is slightly above the long-term average growth of the past three decades. But a Financial Times survey this month showed that the majority of economists remain [...]