Philadelphia-area manufacturing data – Prior was 22.3 – Prices paid 56.4 vs 42.6 prior – New orders 18.4 vs 35.7 prior – Employment 27.1 vs 25.6 prior Those are some big moves in new orders and prices paid.
It’s tough to make a coalition The 5-Star party is trying to hammer out a coalition with Liga and is trying to do it informally now or without a majority. In some distant future, parties will have to lay out coalition plans and agreements and contingencies before elections so this doesn’t drag out for months…
The market wanted a hawkish signal You can usually depend on Mark Carney to be a hawk. He’s repeatedly lured the market into false starts on rates in the past three years, only to walk back.
Russia has joined China, India and the EU in demanding compensation from the United States regarding its decision to impose worldwide tariffs on steel and aluminium.
BlackRock money manager Scott Thiel notes that the EUR/CHF returning to 1.2000 without the need of the SNB’s defence will be a victory for the SNB He questions what happens when 1.2000 is breached – where will price go. He notes that the Swiss monetary policy is unlikely to change before the ECB so he…
Kremlin says unfriendly moves by United States towards Russia still continue, can’t rule out more moves in future because of Washington’s unpredictability Who ya callin’ Unpredictable???
On Tuesday China decided to scrap current limits on foreign ownership of cars, ships and aircraft in 2018 signalling an opening of markets Germany’s largest industry group (BDI) welcomed China’s announcement with , stating that , “the end of the joint venture constraint for the production of cars, airplanes and ships is a first set…
Quite a few currencies on the back foot mid-morning in Europe/UK … but take a look at gold Just seen a sharp drop of around 4USD in minutes Not seeing anything re explaining the drop ….
IMF finance chief, Tobias Adrian, say investors should prepare for more volatile times ahead. He states that investors have become complacent being used to low inflation conditions and easy central bank money.
Nathan Sheets was an under secretary at the US Treasury for international affairs Now head of Global Macroeconomic Research at PGIM Fixed Income (part of Prudential Financial). Interviewed on Bloomberg telly: