Category: Economy
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Column-‘Risk-free risk’ re-emerges as bonds minesweep 5%-plus – Mike Dolan
By Mike Dolan LONDON (Reuters) – To say investors were unprepared for 5% U.S. Treasury yields is perhaps the market understatement of the year – but they are now frantically feeling around to see if rates can go higher still and what landmines that might set off. Real and nominal U.S. government borrowing rates have…
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UK business downturn eases after inflation data, BoE pause – PMI
LONDON (Reuters) – British services companies suffered a less severe downturn in September than first feared, reflecting a surprise fall in inflation and the Bank of England’s decision to leave interest rates on hold, a business survey showed on Wednesday. The final reading of S&P Global UK Services Purchasing Managers’ Index (PMI) fell in September…
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US services sector growth slows moderately
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector slowed in September as new orders fell to a nine-month low, but the pace remained consistent with expectations for solid economic growth in the third quarter. The survey from the Institute for Supply Management (ISM) on Wednesday also showed services sector inflation remaining elevated last…
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As US election looms, investors fear for fiscal peace :Mike Dolan
By Mike Dolan LONDON (Reuters) -Thirteen months is often too distant an horizon for financial markets to focus on, but uncertainties surrounding 2024’s U.S. Presidential election are becoming difficult to screen out. A split Congress is at loggerheads again over government funding just as U.S. bond markets are pricing the most expensive Treasury borrowing in…
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US Congress averts government shutdown, passing stopgap bill
(This Sept. 30 story has been refiled to remove an extra letter from Senator Michael Bennet’s second name in paragraph 12) By David Morgan, Moira Warburton and Makini Brice WASHINGTON (Reuters) – The U.S. Congress passed a stopgap funding bill late on Saturday with overwhelming Democratic support after Republican House Speaker Kevin McCarthy backed down…
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Take Five: Roll on Q4!
LONDON (Reuters) – The shutdown of the U.S. government has been averted, while embattled developer China Evergrande is on the brink, and markets are still adjusting to central banks’ higher for longer rates mantra. If that wasn’t enough to kick off the final quarter of 2023, there’s central bank meetings from Australia to Poland and…
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When is success not success? When Fed gets inflation down to 2.5%: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) -If signals from the U.S. bond market prove accurate, the Fed will be successful in getting inflation down to a ‘2 handle’. Just not its 2% target. Moves in bond yields, implied inflation breakeven rates, and inflation-adjusted ‘real’ yields suggest investors anticipate the Fed’s ‘higher for longer’ interest rate…
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Republic First Bancorp postpones shareholder meet as it reviews strategic options
(Reuters) -Republic First Bancorp has postponed its 2022 annual shareholders meeting until Dec. 19 and said it continues to be in talks with parties, including Norcross-Braca Group, to assess potential strategic opportunities, according to a regulatory filing. The postponement comes a month after the company saw its shares getting delisted from the Nasdaq after failing…
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UK recession risk deepens but consumers stay unfazed
By Andy Bruce and William Schomberg LONDON (Reuters) -Britain’s economy displayed clear recession signals on Friday, a day after the Bank of England called a halt to its long run of interest rate increases that have turned the tide on inflation but at the expense of a hit to businesses. A business survey, which the…
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Bad moment to hike rates as Russia’s growth stimuli sputter – economists
By Darya Korsunskaya and Alexander Marrow (Reuters) – Double-digit interest rates and the possibility of more hikes down the road have come at a bad moment for Russia’s economy as the impact of higher industrial production and soaring defence spending wane, Russian economists said. The Bank of Russia jacked up rates to 13% on Friday…