‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Four charts that show how US consumer demand is taking off September 27, 2013 US consumer demand is its strongest since spring 2010, according to data published by the Institute for Business Cycle Analyses. The data has seen continual improvement to a positive trend that developed since May to June 2013. Despite a four year period of weakness, the monthly and three-month moving average index for food and other [...]
Evans says Fed can’t provide as stimulus as it would like while unemployment remains high September 27, 2013 The Federal Reserve's resident mega dove Charles Evans has said that the Fed can't provide as much stimulus as it wants. Evans see unemployment too high, and inflation too low. Evans topped that off by saying that the Fed sees itself as non-partisan and non-political. Afraid I'm not buying it.
Church of England snaps up 314 RBS branches September 27, 2013 Church of England backed consortium Williams & Glyn's has agreed the purchase of 314 branches from state-backed bank RBS, with Corsair Capital and Centerbridge Partners also in on the deal (release). RBS was required to divest 308 branches as a condition of the state assistance it receives. The consortium will put £600m of investment into [...]
US personal spending and income data a little stronger in August September 27, 2013 US data a little stronger this afternoon, but nothing surprising – all in-line with analyst estimates. Personal spending growth up from 0.1 per cent to 0.3 per cent in August. Personal income is up even more, up 0.4 per cent from last month's 0.1 per cent. That's the biggest gain since March. Paul Ashworth, chief [...]
Annual German inflation drops to 1.4 per cent in September September 27, 2013 Price pressures seems to be broadly stable in German for this September. A preliminary estimate shows consumer price inflation at zero this month, as it was in the last. In the year to September, inflation stands at 1.4 per cent, slightly lower than the 1.5 per cent estimated. As in the wider Eurozone, inflation varies [...]
French court orders DIY shops to close on Sunday September 27, 2013 The companies affected were Castorama a subsidiary of Kingfisher with over 12,000 employees and 105 stores and Leroy Merlin 53,000 employees in 2010 and 300 stores. A total of 15 stores will be closed on Sunday in the Paris area. The case came to court due to a complaint by Bricorama, another DIY retailer which [...]
Government to receive £1.3bn from Royal Mail sale – but warns of coming strike action September 27, 2013 The government prospectus for the sale of 497-year old Royal Mail reveals that the state will take £1.3bn to £1.7bn from the sale. Fees will exceed £50m, with the government paying £28.5m and the Royal Mail itself a further £23m. Investors should … assume national strike action will take place during the period immediately after [...]
JC Penney to end year with £830m cash before 84m share sell off September 27, 2013 JC Penney is to end the year with £830m cash, excluding the profits from the retailers 84m share sell off. The news was disclosed in a regulatory filing on Friday after a turbulent week for the troubled company. Last night JC Penney shares fell by 4.5 per cent in after-hours trading from previous [...]
Fed’s Evans says forward guidance has helped to boost growth September 27, 2013 The Fed's Charles Evans has said that forward guidance has helped to boost GDP growth while the central bank was unable to to cut short term interest rates. Evans believes that unemployment remains unacceptably high while headwinds continue to contribute to a weak economy. He said that the use of monetary policy to combat financial [...]
Sunny weather not enough to boost service sector as growth disappoints September 27, 2013 UK services output has risen by just 0.2 per in July, from no change in the month before. Analysts had been expecting an increase of 0.5 per cent. That's a 1.8 per cent increase on July 2012, and the Office for National Statistics says that that "three of the four components of the services industries [...]
