Fed in rescue bid on fears over growth August 10, 2010 THE US Federal Reserve confirmed fears of a marked slowdown in the world’s biggest economy yesterday as it made its first step towards extending its emergency monetary policy regime in a significant policy shift. The central bank said it would reinvest proceeds from its investments in mortgage-backed securities to buy longer-term government debt in a [...]
Banks boost FTSE past the 5,400 mark after quiet day August 9, 2010 FINANCIAL stocks boosted the UK’s leading share index yesterday, rallying from falls in the previous session following weak US jobs data and supported by energy markers which gained in tandem with crude. The FTSE 100 was up 78.13 points, or 1.5 per cent, at 5,410.52, having closed 0.6 per cent lower on Friday, albeit in [...]
Wall Street pauses ahead of Fed rates August 9, 2010 US stocks rose yesterday in the quietest session of the year on speculation that the Federal Reserve would signal potential steps to boost the sluggish economic recovery. Volume was a mere 5.71bn shares, compared with last year’s estimated daily volume of 9.65bn shares, as investors were wary of taking new positions before the Fed’s statement [...]
US Fed predicted to unveil more easing August 8, 2010 WEAK US employment figures have spurred speculation the Federal Reserve will announce a return to “unconventional” quantitative easing (QE) at tomorrow’s policy meeting. After figures on Friday showed 131,000 Americans lost their jobs in July, more than double the number expected, analysts at Goldman Sachs said the Fed could begin using the proceeds from maturing [...]
WALL STREET WEEK AHEAD August 8, 2010 US INVESTORS’ eyes are this week on the Federal Reserve, which may provide a fillip to an otherwise dull summer market. Investors are leaning toward the view that the Fed will resort once more to some mild quantitative easing, which may be good or bad for the market. “Bernanke himself has suggested extending the Bush [...]
Treasury yields at record low as Fed mulls new QE August 3, 2010 YIELDS on short-term US Treasury debt fell to a record low yesterday after a raft of negative data heightened expectations that the Federal Reserve may seek to further stimulate the stagnating economy. Two-year note yields, which move inversely to prices, fell three basis points to 0.53 per cent, after touching a new record low of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 2, 2010 FINANCIAL TIMES LIVERPOOL FC AUCTION ATTRACTS GLOBAL INTEREST Global interest in the auction of Liverpool Football Club intensified on Monday with prospective bidders emerging from Hong Kong and the Middle East. Chinese sports entrepreneur Kenneth Huang has made an approach to Liverpool’s bankers Royal Bank of Scotland and US-based Wachovia seeking support for a deal, [...]
FRAGILE US IS STILL RELIANT ON STIMULUS August 2, 2010 CFD MARKET STRATEGIST, GFT THE tension in the tug-of-war between equity bulls and bears cranked up a few notches last week. Initially, results from the second quarter earnings season boosted stocks since the majority of firms that have so far reported released better-than-expected numbers. But as the week drew to a close, doubts appeared to [...]
Growth slows in parts of US July 28, 2010 Economic growth in parts of the US is at risk of grinding to a halt, heightening fears of a double-dip recession. The Federal Reserve’s latest Beige Book survey, released yesterday, and tracking 12 regions showed growth in Atlanta and Chicago had slowed and Cleveland and Kansas City had held steady. Other regions were described as [...]
US stocks fall after poor durable figures July 28, 2010 US stocks fell yesterday after weak durable goods figures and a downbeat assessment of the economy from the Fed’s Beige Book kept the benchmark S&P 500 trapped below its 200-day moving average. A three-day rally built on strong earnings boosted the index to close Monday above its 200-day moving average, a closely watched measure of [...]