CNBC Comment: US debt limit debate is the real decider September 30, 2013 SINCE the Fed surprised us by deciding not to start tapering its stimulus programme, we’re back to listening to what Fed members happen to say on the sidelines of events and finding momentum elsewhere. The two big themes to focus on next are the European Central Bank’s (ECB) rate setting meeting tomorrow, and the impact [...]
Daily FX: Analyst picks September 30, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Looking short dollar-yen, long Kiwi-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I remain long on Kiwi-dollar from $0.8165, though I will cut the trade indiscriminately should US and Italian political issues boil over. The pair suffered mightily in [...]
Albemarle and Bond shares slump on profit warning and £35m rights issue September 30, 2013 For pawnbroker Albemarle and Bond, things have gone from bad to worse after its share value crashed this morning, following their announcement of an emergency rights issue of £35m and profit warning. City A.M.'s Michael Bow reported this morning: TROUBLED pawnbroker Albemarle & Bond is in the market for an emergency bailout after its business [...]
US debt ceiling looms without agreement on healthcare plan September 29, 2013 THE US congress is yet to reach an agreement over the looming debt ceiling, which will prevent the government from borrowing any more at midnight tonight. Politicians are yet to find an agreement that would avoid the debt ceiling, with a dispute over the funding of President Barack Obama’s flagship healthcare policy still raging. Without [...]
New York Report: Wall St awaits US government funding news September 29, 2013 WITH a possible US government shutdown days away, Wall Street still has not come down with a critical case of fiscal fever despite forecasts that failure to resolve the federal budget standoff could be catastrophic. The benchmark S&P 500 is up more than three per cent for September, which has traditionally been described as the [...]
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.
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 [...]
Pound moves above $1.61 as Carney says no case for more QE September 27, 2013 Bank of England governor Mark Carney has said there's no case for more quantitative easing, in an interview with the Yorkshire Post today. But my personal view is, given the recovery has strengthened and broadened, I don’t see a case for quantitative easing and I have not supported it. (Yorkshire Post) That's provided support for [...]
Fed’s Stein would have backed QE taper in September meeting September 26, 2013 FED BOARD member Jeremy Stein suggested yesterday that he would have been happy if the tapering of QE had begun in September. In a Frankfurt speech, Stein said: “I would have been comfortable with the FOMC’s beginning to taper its asset purchases at the September meeting.” Stein added that the most important element of tapering [...]
Kocherlakota says Fed must do whatever it takes for growth – including more stimulus September 26, 2013 The Fed's Narayana Kocherlakota has repeated the phrase so popular among bankers – that they must do "whatever it takes". To Kocherlakota, that means that more stimulus may be warranted while inflation remains low. But he also thinks that the Fed may have to accept above target inflation in order to fix the labour market. [...]