Initial reactions to Barclays results and capital shortfall plan July 30, 2013 Source: Yahoo Following the drop in Barclays's share price after it announced a drop in profits and plans to fill a bigger-than-expected £12.8bn capital hole, analysts have been mulling what this means for the bank. Mark Kimsey, a senior trader at Accendo Markets, says investors are getting fed up with Barclays and moving into state-owned [...]
New York Report: US shares fall as Fed decision due tomorrow July 29, 2013 US STOCKS fell yesterday, pulling back before this week’s Federal Reserve meeting that could signal when the Fed is going to begin reducing its bond purchases aimed at helping the economic recovery. Losses were led by the energy and financial sectors, with both the S&P energy index and S&P financial index down 0.8 per cent. [...]
US manufacturing expansion sees unexpected decline in pace July 29, 2013 The newest figure from the Dallas Fed manufacturing business index shows a fall from 6.5 to 4.4 in July. Economists had been forecasting a rise to 7.3 (release). Texas factory activity continued to expand in July, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state [...]
Global bond bubble will cripple all investors when it bursts July 28, 2013 THIS column has long highlighted the massive bubble in the global bond markets and the horrific, systemic risk it poses to the global recovery and financial system. A combination of ultra-low central bank short-term interest rates, massive amounts of quantitative easing (QE), regulatory-driven purchases of government bonds by financial institutions and Asian forex accumulation have [...]
Obama getting ready to reveal next Fed boss July 28, 2013 PRESIDENT Obama is examining the field of candidates to take over from outgoing Federal Reserve chairman Ben Bernanke, he said over the weekend, and will announce the next central bank boss in the coming months. A host of top academics and policymakers are in the running for the job, from without the Fed and outside [...]
Wall St The Week Ahead: Wall St awaits jobs, Fed and earnings news July 28, 2013 THIS week on Wall Street could be a summer blockbuster, with the roster featuring a triple bill: the Fed, jobs and earnings. Of the three, the Federal Reserve has the most potential to upset the market. The Federal Open Market Committee is expected to release a statement on Wednesday after a two-day meeting. Fed chairman [...]
We won’t find out who the next Fed chairman is until the autumn July 26, 2013 The White House has said that US president Barack Obama is not expected to name a new Federal Reserve chairman until the Autumn, lowering expectations of an imminent announcement. The news was reported by the Associated Press, citing a senior White House official speaking on the condition of anonymity. Among the leading candidates are former [...]
IMF thinks the dollar is overvalued by as much as 10 per cent July 26, 2013 The IMF has said that it considers the dollar is mildly overvalued by as much as 10 per cent more than its fundamentals suggest. The organisation said that it expects US growth of 1.7 per cent in 2013, and 2.7 per cent in 2014. Risks to the US economic outlook are said to be modestly [...]
Fed goes after Wall St giant July 25, 2013 US FEDERAL prosecutors yesterday criminally indicted a top Wall Street hedge fund over allegations that years of spectacular performance were partly based on insider trading. SAC Capital Advisors was charged by a court in New York on four counts of securities fraud and one count of wire fraud following a seven-year investigation by regulators. No [...]
Boeing drives US durable goods orders to unexpected high July 25, 2013 New orders for durable goods in the US rose for the third consecutive month in June by 4.2 per cent, higher than the 3.6 per cent growth recorded in May and far above analyst expectations of 0.5 per cent growth. But some beady eyes noted that a lot of this growth stemmed from a single [...]