The emergency lending facilities set up by the Federal Reserve to stabilize markets in the spring were successful and could be restarted later if needed after they expire at year end, New York Federal Reserve Bank President John Williams said Tuesday.
U.S. Treasury yields on the
longer end of the curve extended their rise on Tuesday as
investors rushed to riskier investments, including soaring
stocks.
U.S. consumer confidence fell more than expected in November amid a widespread resurgence in new COVID-19 infections and business restrictions, reinforcing expectations for a sharp slowdown in economic growth in the fourth quarter. The survey from the Conference Board on Tuesday followed on the heels of reports this month showing a moderation in job growth and retail sales in October.
* Consumer confidence index falls 5.3 pts to 96.1 in November. * House prices increase 6.6% year-on-year in September. By Lucia Mutikani. U.S. consumer confidence fell more than expected in November amid a widespread resurgence in new COVID-19 infections and business restrictions, reinforcing expectations for a sharp slowdown in economic growth in the fourth quarter.
A recent rise in oil prices continued Tuesday, putting crude on track for its highest close since early March with investors wagering on a brighter economic outlook and higher demand for fuel. U.S. crude-oil futures for January delivery advanced 2.9% to $44.32 a barrel, rallying for the sixth time in seven sessions and eclipsing their peak closing level from late August. Oil started the year above $60, briefly tumbled below $0 for the first time ever in April as coronavirus...
* President warned of "major" unemployment wave in briefings. * Central bank chief ousted, then finance minister resigned. * Quick pivot after Biden election and before new virus curbs. By Orhan Coskun and Jonathan Spicer.
Consumers' views of the economic outlook soured in November as coronavirus cases soared across the country, according to survey data released Tuesday. The Conference Board, a private research group, said its index of consumer confidence fell to 96.1 this month, from a revised 101.4 in October. Economists surveyed by The Wall Street Journal had expected a reading of 98.0.
Manufacturing activity across the central Atlantic region of the U.S. remained broadly positive in November, as the composite index declined but continued in expansionary territory, data from a survey from the Federal Reserve Bank of Richmond showed Tuesday. The Fifth District Survey of Manufacturing Activity's composite index came in at 15 in November, down from the 29 reading registered in October. The indicator compares with FactSet's forecast of 19..
Consumer confidence in the U.S. declined for the second consecutive month in November amid a continued surge in Covid- 19 infections across the country, according to data from The Conference Board released Tuesday. The consumer confidence index decreased to 96.1 in November from an upwardly revised 101.4 in October. Economists polled by The Wall Street Journal expected consumer sentiment to slip to 98.0.
The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Wednesday 0830 Jobless Claims Nov 21 733 K 742 K 0830 Durable Goods Orders Oct +0.6% +1.9% 0830 Real GDP 3 Q +33.1% +33.1%* 0830 GDP Prices 3 Q +3.6% +3.6%* 1000 Personal Income Oct -0.1% +0.9% 1000 Consumer Spending Oct +0.3% +1.4% 1000 Core PCE Prices M/M Oct +0.0% +0.2% 1000 Core...
AM Best has assigned Long-Term Issue Credit Ratings of ?a? to the recently issued $600 million 0.750% senior unsecured notes due 2025 and the $600 million 1.450% senior unsecured notes due 2030 of The Allstate Corporation. Following the debt issuance, AM Best expects Allstate?s financial leverage and interest coverage metrics to remain within the guidelines for its current ratings.
NEW YORK, Nov. 24, 2020 The Conference Board Consumer Confidence Index? declined in November, after remaining relatively flat in October. The monthly Consumer Confidence Survey?, based on a probability-design random sample, is conducted for The Conference Board by Nielsen (NLSN), a leading global provider of information and analytics around what consumers buy and watch.
Home-price growth accelerated in September, as a widespread shortage of homes for sale spurred competition among home buyers. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 7% in the year that ended in September, up from a 5.8% annual rate the prior month. September marked the highest annual growth rate since May 2014..
U.S. Treasury yields on the
longer end of the curve inched higher on Tuesday with the stock
market poised to open stronger and ahead of a seven-year note
auction.
The benchmark 10-year yield was ...
OTTAWA--Statistics Canada said Tuesday it anticipates that manufacturing sales climbed 0.6% in October, marking another deceleration in the factory sector's recovery from a virus-induced plunge. The data agency said the estimate is based on strong sales of petroleum and coal products, paper, primary metals and wood products industries. The advance reading was based on a response rate of almost 60% to the survey.
WASHINGTON, Nov. 24, 2020 The Chemical Activity Barometer, a leading economic indicator created by the American Chemistry Council, rose 0.8 percent in November on a three-month moving average basis following a 1.0 percent gain in October. The unadjusted data show a 1.3 percent gain in November following a 0.5 percent gain in October and a 0.7 percent gain in September.
Thailand's central bank governor said on Tuesday the speedy rise of the country's baht currency was causing concern, but played down the chance of launching unconventional measures such as mass bond purchases any time soon.
Nigeria's central bank held its benchmark lending rate at 11.5% on Tuesday, its governor Godwin Emefiele said. Prior to Tuesday's meeting, the last of 2020, the bank had cut the rate on two occasions this year - both by 100 basis points. Emefiele said all 10 members of the monetary policy committee had voted to stick to the rate.
Nigeria's central bank held its benchmark lending rate on Tuesday at 11.5%, its governor Godwin Emefiele said. Prior to Tuesday's meeting, the last of 2020, the bank had this year cut the rate on two occasions - both by 100 basis points.
MEXICO CITY--Mexican inflation fell back toward the central bank's target in early November as lower produce prices and discounts related to an annual shopping promotional event largely offset a seasonal jump in electricity rates. The consumer price index rose 0.04% in the first two weeks of the month from the end of October, the National Statistics Institute said Tuesday. It was the smallest increase on record for the period and pushed the 12- month inflation rate down to...
Thailand's central bank governor said on Tuesday the speedy rise of the country's baht currency was causing concern, but played down the chance of launching unconventional measures such as mass bond purchases any time soon.
Brazil's IPCA-15 consumer price index rose 0.8% in the month to mid-November, statistics agency IBGE said on Tuesday, the highest November reading for five years as food prices continued to boost overall inflation.
Bank of Japan Governor Haruhiko Kuroda said on Tuesday policymakers must be vigilant to the risk of new financial imbalances and a shift in economic changes posed by the coronavirus pandemic. "Due attention must be paid to the possibility that a shift in the challenges facing firms and households from liquidity to solvency could affect the future financial system," Kuroda said.
Speech Analytics and Contact Center AI Improve Experiences for Both Clients and Agents Observe.AI, a leader in Contact Center AI, today announced that its platform has enabled National Debt Relief to improve customer experience, automate quality assurance, and provide better coaching to its front-line agents.
Mexico's unemployment rate eased to 4.7% in October from 5.1% in September, as an economic recovery from the coronavirus pandemic continued, data from national statistics office INEGI showed on Tuesday.
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. The Australian dollar rose to a two-and-a-half-month high and the euro gained on Tuesday as U.S. President Donald Trump accepted the transition to a Joseph Biden presidency, which may include former Federal Reserve Chair Janet Yellen as Treasury secretary. Appetite for riskier assets was evident across the board.
A massive increase in projected government debt poses a "major threat" to financial stability in South Africa, the central bank warned on Tuesday, while problem mortgages were also a risk. South Africa's government debt is now set to hit 82% of gross domestic product this year as the Treasury grapples with the impact of the COVID-19 pandemic.
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. Risk-oriented currencies including the Australian dollar and the euro rose on Tuesday after U.S. President Donald Trump accepted the start of a transition to a Biden regime, that may include former Federal Reserve Chair Janet Yellen as Treasury secretary.
The Bad Homburg-based FERI Group is cooperating with Target Global in the management and placement of a new growth fund. The new Target Global Growth Fund offers investment opportunities in selected growth companies to semi-professional and professional investors.
Germany's gross domestic product grew by a record 8.5% in the third quarter as Europe's largest economy partly recovered from an unprecedented plunge caused by the first wave of the COVID-19 pandemic in spring, the statistics office said on Tuesday. The stronger-than expected rebound was mainly driven by higher household spending and soaring exports, the office said.
The German economy posted a record expansion in output in the third quarter, even larger than reported in the first release, the German statistics office Destatis said Tuesday. The country's gross domestic product grew 8.5% compared with the previous quarter, according to Destatis. This is above the preliminary estimate of 8.2% growth.
Germany's gross domestic product grew by a record 8.5% in the third quarter as Europe's largest economy partly recovered from an unprecedented plunge caused by the first wave of the COVID-19 pandemic in spring, the statistics office said on Tuesday.
SYDNEY--The Reserve Bank of Australia expects the likely global release of a Covid-19 vaccine in the coming months to boost confidence and investment across the economy, although recovery will be uneven and monetary and fiscal stimulus will need to remain in place for some time. "While the news about vaccines should help bolster business confidence, the recovery will be uneven," RBA Deputy Governor Guy Debelle said in a speech to business economists Tuesday.
President-elect Joe Biden is expected to nominate former Federal Reserve Chair Janet Yellen as U.S. Treasury secretary, breaking a 231-year gender barrier and putting a seasoned economist and labor market expert in charge of leading the country out of the steepest downturn since the Great Depression.
- Chicago Federal Reserve Bank President Charles Evans said Monday there is still "quite a long ways to go" for the U.S. recovery from the coronavirus crisis, adding that he expects the Fed to keep interest rates at their current near-zero level until perhaps into 2024.
P resident-elect Joe Biden is expected to nominate former Federal Reserve Chair Janet Yellen as U.S. Treasury secretary, breaking a 231-year gender barrier and putting a seasoned economist and labor market expert in charge of leading the country out of the steepest downturn since the Great Depression.
DENVER, Nov. 23, 2020 ?Lumen Technologies*? announced that it has agreed to sell $1 billion aggregate principal amount of its unsecured 4.500% Senior Notes due 2029 pursuant to the private offering announced earlier today. The 2029 Notes were priced to investors at par and will mature on Jan. 15, 2029.
Investors gave their approval on Monday to U.S. President-elect Joe Biden's pick of former Federal Reserve Chair Janet Yellen to be the next Treasury secretary, touting her experience at the central bank as critical to helping the country weather coronavirus-fueled economic struggles.
MIAMI, Nov. 23, 2020 Carnival Corporation?& plc?, today announced that Carnival Corporation (CCL) has closed its previously announced registered direct offering of 10.4 million shares of its common stock at a price of $17.59 per share to a holder of its 5.75% Convertible Senior Notes due 2023.
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Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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