European stock markets rise as traders look to the Fed August 21, 2019 European stock markets have risen this morning as investors hope for dovish signals from the US Federal Reserve, which is due to release the minutes from its last meeting later today. The Fed will also meet for its yearly symposium in Jackson Hole, Wyoming on Friday, where chair Jay Powell is expected to hint at [...]
UK government spending surplus shrinks in July August 21, 2019 The UK government earned £1.3bn more in taxes than it spent in July 2019, official figures showed today, a smaller surplus than economists had expected. Read more: Chancellor Javid to simplify’ the tax system in Autumn budget Analysts predicted a £2.7bn surplus in public borrowing in the first figures under new chancellor Sajid Javid, but [...]
Germany to sell 30-year bonds with zero interest for first time August 20, 2019 The German government will tomorrow offer investors the chance to hand over their money to the finance ministry for 30 years – and receive no interest for the privilege. Read more: German central bank warns economy could already be in recession In a sign of ballooning global demand for ultra-safe assets, Germany will auction 30-year [...]
Italian PM announces resignation and attacks deputy Matteo Salvini August 20, 2019 Italian Prime Minister Giuseppe Conte announced his resignation to the country’s senate this afternoon and launched a blistering attack on deputy prime minister and League party leader Matteo Salvini. Read more: Italy’s League floats tax cut paid for by deficit In a remarkable speech to the Italian upper chamber, Conte said Italy could enter a [...]
Bond yields fall as Trump calls for cut and ECB hints at stimulus August 20, 2019 Yields on global bonds have fallen following a renewed call for interest rate cuts from US President Donald Trump and dovish words from European Central Bank (ECB) board member Olli Rehn. Read more: Eurozone inflation falls to well below ECB target in July Trump yesterday evening called for a 100 basis point (one percentage point) [...]
Energy group Wood to sell nuclear arm for £250m August 20, 2019 British energy services firm Wood is to sell its nuclear business for about £250m ($301m) to a subsidiary of US company Jacobs in a drive to reduce its debt. Read more: EDF seeks guarantee for nuclear project The firm made the announcement as it released its half-year results, which showed a rise in pre-tax profit [...]
Eurozone inflation falls to well below ECB target in July August 19, 2019 Prices in the Eurozone rose by just one per cent in July, official figures showed today, far below the European Central Bank’s (ECB) inflation target, making it increasingly likely the Bank will relaunch its giant bond-buying programme next month. Read more: US and European stocks buoyed by ECB rate cut expectations The one per cent [...]
German central bank warns economy could already be in recession August 19, 2019 Germany’s central bank has warned that the country’s economy could already be in recession as the malaise in its industrial sector continues. Read more: German economy shrinks in second quarter as exports slump The German economy, Europe’s biggest, contracted in the second quarter due to falling exports and industrial production induced by trade tensions, a [...]
Mark Carney says negative interest rates ‘not an option’ for BoE August 19, 2019 Bank of England governor Mark Carney has said his institution will not pursue negative interest rates, a monetary policy device employed by the European Central Bank (ECB) and Bank of Japan, among others. Read more: BoE boss Mark Carney pulls out of UK-China dinner “At this stage we do not see negative rates as an [...]
Italy’s League floats tax cut paid for by deficit August 19, 2019 Italy’s ruling League party has set up another clash with the European Union over budget rules, saying it wants to cut taxes by raising its deficit. Read more: Italy’s political crisis triggers bond sell-off The statement of intent comes with Italy in political crisis after the League said its coalition government with the anti-establishment Five [...]
