Chicago activity index stronger but revisions disappoint September 23, 2013 One of the better predictors of the US economy's fortunes has come in strong. The Chicago Fed national activity index is designed to gauge economic activity in the surrounding area. It rose from -0.43 (revised from -0.15) to 0.14 in August. So a nice number, much higher than expectations of a rise to 0.05, but [...]
Record week for equity funds as inflows hit £16.2bn September 23, 2013 Last week saw a record breaking £16.2bn flow into into equity funds. Funds in developed markets experienced the bulk of the inflow posting £15.4bn while funds in developing nations saw an inflow of £1bn, according to data from EPFR Global. The inflows were the largest ever recorded in the EPFR data set. The move into [...]
Before the open: Markets mixed following German elections and Bullard on taper September 23, 2013 Despite Angela Merkel's win in the German elections, European markets look set to open mixed this morning, following James Bullard's Friday comments on the Fed's decision not to taper. Share markets seen drifting, mainly lower, as #Merkel works to form new German government. Financial bookies: FTSE 100 -15, DAX +7, CAC40 -8 — Peter Hoskins [...]
Rating agency puts Royal Mail above its rivals September 22, 2013 ROYAL Mail has been given a better financial health rating than any other post or parcels companies in the world, boding well for the government’s planned flotation of the postal service in the coming weeks. Independent US rating company Rapid Ratings said that Royal Mail had “changed dramatically” in the past two years, ranking it [...]
Letters to the Editor – 23/09 – Future of gaming, Care robots, Best of Twitter September 22, 2013 Future of gaming [Re: Computer games have grown up – and they’re an economic powerhouse, Friday] This is an excellent article. While George Osborne goes on about the march of the makers, the gaming industry shows exactly what Britain can do if creativity is allowed to combine with technical and scientific know-how. I even think [...]
Stenson’s superb run rolls on to land FedEx Cup and £6.25m prize September 22, 2013 IN-FORM Henrik Stenson feels he is playing the best golf of his career after continuing his outstanding season yesterday with a wire-to-wire victory in the Tour Championship to land the FedEx Cup and $10m (£6.25m) prize. Stenson’s two under par round of 68 saw him win by three shots from American pair Jordan Spieth and [...]
Sorry, investors, but Ben Bernanke has got it totally wrong September 21, 2013 FOR the junkies in the markets, the shock news that the Fed’s monetary methadone will continue to flow freely was greeted with jubilation last night. Never mind that QE will only continue at this rate for another few months, and that the delay to tapering was caused by worsening economic growth forecasts, combined with fiscal [...]
US Fed’s Bullard says inflation is still on the low side September 20, 2013 The Fed's James Bullard has warned that the Federal Reserve's focus has shifted too much towards jobs and away from inflation. Bullard reminded viewers of Bloomberg that the Fed has a dual mandate, and must consider both jobs and inflation. He said that inflation is still low. The Fed's man said that labour force participation [...]
Before the open: markets slower following Fed decision on tapering September 20, 2013 European markets are set to open muted this morning, given the marginally weaker finish in the US, following the Fed's decision not to taper, and record high for the Dax earlier in the week. It was a similar story for Asian markets which were subdued, following Wednesday's announcement. Following a slightly rough time against the [...]
Fed caution gets undermined by strong US data September 19, 2013 BEN Bernanke’s surprise decision not to dial down the Federal Reserve’s money printing, which he justified on Wednesday by pointing to an uncertain US economy, was embarrassed by a sheaf of positive economic news revealed yesterday. The Federal Open Market Committee announced on Wednesday that it would “await more evidence that progress will be sustained” [...]