Bloomberg Business –Yellen sees rate rise in 2015:The dollar strengthened, with a gauge of the currency heading for its biggest weekly gain in two months, following a speech by Federal Reserve Chair Janet Yellen yesterday evening where she said the central bank is on track to raise rates later this year. Stocks in Europe rebounded....
Bloomberg Business -Euro-area inflation: Inflation in the Euro-area unexpectedly turned negative in September, falling to minus 0.1 percent, according to a flash estimate from Eurostat, the European statistics agency. The drop was driven by falling energy prices, with a breakdown of the headline number showing that component dropping 8.9 percent from a year earlier. -Awful....
Bloomberg Business -U.S. budget passed: In the early hours of Friday morning Congress passed a two-year bipartisan budget plan, meaning a debt default on Nov. 3 will be avoided. With some details still to be ironed out the deal diminishes, but does not eliminate, the chances of a government shut-down ahead of current funds expiring....
Bloomberg Business -Nonfarm payrolls: The view among economists is that if today’s Nonfarm Payrolls growth comes in close to the projected 185,000 it will allow the Federal Reserve to press ahead with its first rate rise since 2006 at its December meeting. The market is already pricing in higher chances of an increase in benchmark....
Bloomberg Business -Prepare for liftoff: Friday’s better than expected U.S. jobs report seems to have cemented the Federal Reserve’s case for liftoff later this month. Economists at Barclays reckon that a rate hike is now fully priced in, while Allianz SE Chief Economic Adviser and Bloomberg View columnist Mohamed El-Erian says it would be difficult....
Bloomberg Business -Spanish election turmoil: No clear winner emerged from yesterday’s Spanish government election. Current prime minister Mariano Rajoy, as leader of the largest party following the vote, will get the first chance to form a government, but with insufficient seats to form a majority (even under a coalition with fourth-place Ciudadanos), it is likely....
Bloomberg Business -Oil: WTI futures in New York slid 1.9 percent to $32.50 a barrel while contracts on Brent crude dropped 2.2 percent to $32.80 at 10:43 a.m. London time. Morgan Stanley has warned that a rapid appreciation of the U.S. dollar may send Brent crude as low as $20 a barrel. Saudi Arabia, which....
Bloomberg Business -China stocks slammed: The Shanghai Composite Index plunged 6.4 percent to 2,749.79 at the close. Huang Weimin, a hedge fund manager whose Chinese stock-index futures wagers returned more than 6,200 percent last year, has warned investors should sell their shares now, before it’s too late. To add to China’s woes, discrepancies between its....
Bloomberg Business -Fed reaction: Emerging markets advanced in the aftermath of yesterday’s Fed statement which acknowledged global risks, reassuring investors that the pace of rate hikes could be slow. The Europe Stoxx 600 was 0.5 percent lower at 10:55 a.m. in London following worse than expected earnings from companies and a report from the European....
Bloomberg Business -Iowa: Hillary Clinton emerged victorious in the closest ever Iowa Democratic caucus, with her 49.9 percent to Bernie Sander’s 49.5 percent enough to ensure a win even with one precinct left to report. On the Republican side, there were two surprises: that U.S. Senator Ted Cruz won ahead of Donald Trump and that....
Bloomberg Business -China GDP: China’s gross domestic product rose 6.7 percent in the first quarter from a year earlier, in line with the median expectation of economists surveyed by Bloomberg. The People’s Bank of China also released data on credit growth in the economy in March with an expansion of aggregate financing to 2.34 trillion....
BBC News «Quebec City mosque shooting: Six killed, eight wounded» Six people have been killed and another eight wounded in a shooting at a mosque in Quebec City, Canada, police say. Shots were fired at the Quebec Islamic Cultural Centre on Sunday night, where more than 50 people had gathered for evening prayers. One suspect....
Bloomberg “Romanians Flood Streets as Cabinet Defies Protests Over Pardons” Romania’s president urged the government to reverse a surprise decision to quash corruption investigations into officials and annul some other convictions after the measures drew thousands of protesters into the streets of major cities. About 12,000 people rallied in freezing temperatures late Tuesday in Bucharest,....
The Washington Post. “188,000 evacuated, emergency declared as California’s massive Oroville Dam threatens floods” If interest rates rise in an economic forest and no one hears a central-bank statement, do they still make a tightening sound? This is the metaphysical question of Chinese monetary policy these days. Last week the People’s Bank of China nudged....
Fox News “Trump may have been unclear, but Sweden experiencing a migrant crime wave” Police investigator Peter Springare isn’t likely to be among those mocking President Trump for his remarks about refugees in Sweden. Trump’s comments during a Florida campaign rally on Saturday – which some took as a misstatement about a supposed terror attack....