What you need to know before the open March 20, 2014 Following a broadly favourable Budget yesterday, then something of a curveball from Janet Yellen – her suggestions about the course of interest rates unsettling markets, European bourses are expected lower today, tracking Asian and US counterparts. Markets sold off sharply on talk that the Fed could raise rates by the spring of next year, and [...]
Yellen says Fed may raise rates by spring 2015 March 19, 2014 THE Federal Reserve will probably end its massive bond-buying programme this coming autumn, and could start to raise interest rates around six months later, Fed chair Janet Yellen said yesterday. US stocks fell after the statement with the Dow closing 0.7 per cent lower at 16,222.17. The Fed had pledged not to raise rates until [...]
New York Report: Interest hike fears hurt US March 19, 2014 US stocks fell yesterday after comments from Federal Reserve chair Janet Yellen raised the possibility of an earlier- than-anticipated increase in interest rates. The central bank dropped the US unemployment rate as its definitive yardstick for gauging the economy’s strength and made clear it would rely on a wide range of measures in deciding when [...]
US markets exercise caution ahead of Yellen speech March 19, 2014 US markets crept lower today at the open, following weaker European counterparts. Investors are awaiting the new inflation and growth forecasts from the Fed’s Open Market Committee, with Janet Yellen holding her first press conference (6.00pm GMT) since taking over as chair last month. Despite some recent weaker economic data, the Fed isn’t expected to [...]
Bank of England minutes reveal risks of further pound gains March 19, 2014 Members of the UK's interest rate setting committee voted unanimously against any policy change in March. The Bank of England's Monetary Policy Committee (MPC) chose to keep rates at their historic lows of 0.5 per cent, with asset purchases also unchanged. Minutes of the MPC reveal that sterling could strengthen further as the UK's economy [...]
What you need to know before the open March 19, 2014 Europe is expected to open mixed this morning after Vladimir Putin said yesterday that he’ll respect the sovereignty of Ukraine, going no further than recognising Crimea as part of Russia. Foreign secretary William Hague’s accused Russia of a “land grab”, calling the situation the most serious test of European security this century. Of course, we’ve [...]
Asian markets calm ahead of Fed policy review March 19, 2014 Asian markets are having an indecisive day ahead of the Federal Reserve's policy review. Investors are keeping a close eye on the Ukraine situation but tensions appear to have cooled for the time being after Vladimir Putin's comments that Russia did not intend to annexe any other parts of Ukraine. However, Western leaders have promised [...]
New York Report: Wall St pushes stocks close to a record high March 18, 2014 US STOCKS climbed for a second straight session yesterday, with the S&P 500 within striking distance of its record after comments from Russian President Vladimir Putin lessened anxiety that tensions over Ukraine could escalate even further. Gains were broad, with nine of the 10 primary S&P 500 sector indexes higher for the day. An S&P [...]
Could Portugal be the next Germany? March 18, 2014 “Portugal is on track to repeat Germany’s successful conversion from the unsustainable sick man of Europe to a competitive and balanced growth champion.” A note this morning from Christian Schulz, senior economist at Berenberg, says that Portugal is the new Germany. The bank thinks that after a contraction of 3.2 per cent in 2012 and [...]
What you need to know before the US open March 18, 2014 US markets are expected to open lower today. European counterparts have headed higher, but investors will be looking towards comment from Fed chair Janet Yellen tomorrow, as the bank puts forward its latest monetary policy decision. It’s expected to continue with its tapering programme. There are also have the latest inflation figures to digest. US [...]