US consumer sentiment is today’s second data miss December 23, 2013 The University of Michigan consumer sentiment index has hit 82.5 in December, from 75.1 last month. That's the final reading. Analysts had been hoping for a jump to 83.0. US data has now gone zero for two, as personal consumption expenditure numbers disappointed earlier.
The Federal Reserve’s favourite measure for the US economy just came in weak December 23, 2013 One key measure of US economic health just missed analyst expectations. Core personal consumption expenditure increased by 1.1 per cent in the year to November. Analysts had expected a rise of 1.2 per cent. John J. Hardy, head of FX Strategy at Saxo Bank, says "the inflation/disinflation debate has been the hottest theme going in [...]
Gold prices set to fall further in 2014 December 23, 2013 It's not been a fun year for gold bugs. While equities have experienced a bull year, the metal and gold stocks are suffering. Peter Garnry, head of equity strategy at Saxo Bank, says that's down to the improving global economy and rising real interest rates. The year has seen gold take one "body blow after [...]
Apple stock set to jump as US markets open December 23, 2013 Tech giant Apple is set to be greeted with approval by investors this afternoon. As US markets open at 2.30pm Apple shares could jump by four per cent on news that the company has agreed a tie-up with Chinese state-owned network China Mobile. The network has more than 750m subscribers – while the entire population [...]
2014’s buzzword is “macro-prudential” – Here’s why one analyst is already tired of it December 23, 2013 2013's word was "tapering", now 2014's will be "macro-prudential", says Societe Generale's Kit Juckes. He already dislikes the new term even more. Apparently, the credit crisis was caused by a lack of governance, not by absurdly accommodative monetary policy. And we're going to avoid a repeat by regulating financial markets while keeping rates low. I [...]
Here’s what economists and central bankers would make of Christmas December 23, 2013 Lombard Street Research's daily note has taken a turn for festive today. Below is their (excellent) guide to the macroeconomics of Christmas. The Schools Keynesians Place a lot of emphasis on the "macro stabilisation" properties of Christmas. Ideally, they would vary the number of Christmases each year according to the state of the economy. This [...]
Royal Mail shares drop on FTSE 100 debut December 23, 2013 On its first day in the FTSE 100, Royal Mail shares are failing to deliver. After hitting a fresh record high of 605p on Friday, Royal Mail is today the FTSE 100's biggest faller. Sunny Dhanjal, senior trader at Accendo Markets, says that "could be the result of profit taking ahead of the Christmas break." [...]
Italian consumer confidence is slipping this Christmas December 23, 2013 Italian consumer confidence has fallen from 98.2 (revised from 98.3) to 96.2 in December, according to Istat. Analysts had forecast a slight increase to 98.8. Statisticians said that the decreased can be explained by personal and current components that decreased from 101.1 to 97.3 and from 99.2 to 95.0 respectively. "@minefornothing: Italian Consumer Confidence drops [...]
Here’s why cutting net migration to “tens of thousands” would make us much worse off December 23, 2013 Of the economically destructive policies currently championed by the coalition government, a target to reduce the level of net migration to the UK from "hundreds of thousands to tens of thousands" certainly ranks as one of the worst. The case for the free movement of people is not just a moral one, but economic. As [...]
What you need to know before the open – 23/12 December 23, 2013 The FTSE 100 is expected to open higher on the last full day of trading before Christmas. Volumes will however be thinner than usual with many investors enjoying the festive season and limited news releases to trade on. Last Friday saw the best week for European stocks in eight months. They're now expected to get [...]
