S&P claims quantitative easing is a programme for the many, not the few August 25, 2016 Standard and Poor's (S&P) has downplayed the role quantitative easing has in fuelling income inequality in a new report published to coincide with the annual central bankers' bash in Jackson Hole. In an investigation into whether the US Federal Reserve should consider the impact its policies have on widening the gap between the richest and the poorest, [...]
Before the bell: What you need to know before the US market open August 25, 2016 Jackson Hole – the annual US economic symposium – is now underway with market watchers keenly awaiting clues on a September Fed rate hike. Here's what you need to know before the US market open at 2:30pm London time. US markets are not looking perky ahead in the pre-market. The S&P is off by 0.24 [...]
Sterling on the front foot as Jackson Hole approaches August 24, 2016 Sterling picked up a gear yesterday as the timing of a US interest rate rise was under the spotlight ahead of the annual central bankers’ Jackson Hole meeting. The pound rose to $1.3226, up 0.2 per cent before the gathering in Wyoming kicks off tomorrow evening. Fed chair Janet Yellen could use her speech on [...]
Gold loses its sheen as Randgold and Fresnillo tumble ahead of Jackson Hole August 24, 2016 The price of gold fell more than one per cent to $1,325.20 today, as investors nervously awaited an appearance by US Federal Reserve chair Janet Yellen later this week. The fall in gold prices hit FTSE-listed producers Randgold Resources, which fell 4.7 per cent to 7,640p, and Fresnillo, which dropped 3.7 per cent to 1,767.4p. Read [...]
Best Buy’s share price has jumped ahead of the opening bell August 23, 2016 Shares in the largest US consumer electronics retailer Best Buy have leapt ahead of the opening bell in New York after posting a rare rise in sales. An hour ahead of the open the company's shares were 16 per cent higher at $38.18 in pre-market trading. The boost to shares came from an up-tick in forecasts for the third [...]
Investment bank issues warning about “dangerous” trend of shorting the fear index August 22, 2016 One of the world's top investment banks has warned that financial markets are entering "dangerous" territory as investors eye up increasingly exotic products in the search for returns. In a note to clients, entitled "dangerous yield chasing", the Bank of America Merrill Lynch (BoAML) today raised a "red flag" over the "worrisome trend" of investors selling [...]
Janet Yellen to talk interest rates and Fed shake-up at Jackson Hole August 21, 2016 The Federal Reserve's No. 2 ratesetter has signalled the US economy should prepare for a rate rise in the near future, as Janet Yellen gears up to make a key intervention at the annual central bankers' gathering at Jackson Hole, Wyoming. Stanley Fischer, vice chairman of the Fed said this afternoon he believed the US would [...]
At the close: EasyJet brightens up drab day in the City August 19, 2016 It's August. It's raining. It's Friday. It was never going to be easy for the traders still at their desks to get going. And it showed, with the FTSE 100 yawning to a 0.2 per cent loss for the day, clocking off at 6,858. That was down slightly on the week after the bluechip index [...]
US Fed logs on to Facebook to boost visibility August 18, 2016 The US Federal Reserve has created a Facebook page, adding to its existing Twitter, YouTube, Flickr and LinkedIn pages. The Fed, often criticised for its communication methods, said in a statement it aims to “increase the accessibility and availability” of its “news and educational content” using Facebook’s likes, comments and shares. But will the opportunity to [...]
US Federal Reserve minutes contain hawkish undertones August 17, 2016 The minutes from the US Federal Reserve's meeting on 26-27 July showed growing support for an interest rate rise. An unnamed individual agreed with the Federal Open Market Committee member who voted to increase borrowing costs at the meeting. "Given their economic outlook, they judged that another increase in the federal funds rate was or would soon be warranted, with a [...]