U.S. services activity growth eased in February but remained at robust levels amid an improvement of the public health situation and weather-related disruptions in the central part of the country. The ISM Services Report on Business PMI decreased to 55.3 in February from 58.7 in January, data from a survey compiled by the Institute for Supply Management showed Wednesday. Economists polled by The Wall Street Journal expected the reading to hold at 58.7, unchanged from the...
U.S. services industry activity unexpectedly slowed in February amid winter storms, while a measure of prices paid by companies for inputs surged to the highest level in nearly 12-1/2 years, bolstering expectations for faster inflation in the near term.
Activity in the U.S. services sector grew in February at the fastest rate in more than six years supported by a marked rise in new orders following stronger client demand, data from IHS Markit showed Wednesday. The final reading for the U.S. Services Purchasing Managers' Index for February was 59.8, up from 58.3 in January and above the flash estimate of 58.9.
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 Thursday 0830 Jobless Claims Feb 27 750 K 730 K 0830 Productivity 4 Q -4.7% -4.8%* 0830 Unit Labor Costs 4 Q +6.6% +6.8%* 1000 Factory Orders Jan +2.3% +1.1% Friday 0830 Nonfarm Payrolls Feb +210 K 49 K 0830 Unemployment Rate Feb +6.3% 6.3% 0830 Avg.
Business Activity Index at 55.5%; New Orders Index at 51.9%; Employment Index at 52.7%; Supplier Deliveries Index at 60.8%?. TEMPE, Ariz. Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management? Services Business Survey Committee: "The Services PMI? registered 55.3 percent, 3.4 percentage points lower than the January reading of 58.7 percent.
U.S. stocks opened slightly higher Wednesday as investors sold government bonds. The S&P 500 rose 0.1%, while the Dow Jones Industrial Average edged higher 0.2%. The Nasdaq Composite Index also opened with modest gains of less than 0.1%, following declines in technology stocks Tuesday.
Brexit is opening a new chapter for Britain to think "creatively" about keeping the UK an attractive location for international financial services companies, Britain's finance minister Rishi Sunak told the Bank of England. Britain left the EU's single market on Dec. 31 and its trade deal with the bloc does not cover cross-border financial services.
Brexit is opening a new chapter for Britain to think "creatively" about keeping the UK an attractive location for international financial services companies, Britain's finance minister Rishi Sunak told the Bank of England. Britain left the EU's single market on Dec. 31 and its trade deal with the bloc does not cover cross-border financial services.
U.S. private payrolls increased by' sluggish' 117,000 in February, ADP says. Private payrolls rose by 117,000 jobs in February after adding a revised 195,000 in the prior month, according to the ADP National Employment Report released Wednesday. Stock Futures Waver on Vaccine, Stimulus Hopes.
SAO PAULO--Brazil's economy contracted in 2020 at the fastest pace in more than 20 years after social distancing measures intended to slow the spread of the coronavirus shut many businesses in the middle of the year and slashed activity. Gross domestic product shrank 4.1% last year, the biggest contraction since the current series began in 1996, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. GDP increased 3.2% in the fourth quarter from the...
Brazil's Economy Ministry on Wednesday kept its 2021 economic growth forecast of 3.2%, but noted that uncertainty remains high due to the deadly second wave of the COVID-19 pandemic and the first quarter in particular will be challenging.
The nonfarm private sector in the U.S. slowed its pace of job gains in February despite falling Covid-19 infections and the easing of restrictions in several states, data from ADP National Employment Report showed Wednesday. Total U.S. nonfarm private employment increased by 117,000 in February. Economists polled by The Wall Street Journal were expecting payrolls to increase by a much higher 225,000..
Morocco's trade deficit shrank by 32.7% to stand at 16.4 billion dirhams in January, the foreign exchange regulator said on Wednesday. Moroccan imports dropped 16% to 41.7 billion dirhams and exports decreased 5.2% to 25.3 billion dirhams compared with the same month a year earlier, the regulator said in its monthly report.
Malaysian police said on Wednesday it was investigating the husband of the country's former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal.
U.S. private payrolls increased less than expected in February amid job losses in manufacturing and construction, suggesting the labor market was struggling to regain speed despite the nation's improving public health picture. Private payrolls rose by 117,000 jobs last month, the ADP National Employment Report showed on Wednesday.
Britain will expand the remit of the Bank of England to include environmental sustainability and its drive to create a net-zero carbon economy, finance minister Rishi Sunak said on Wednesday. " will be an updated monetary policy remit for the Bank of England. "But now, it will also reflect the importance of environmental sustainability and the transition to net zero."
It would be natural for the central bank to keep its current accommodative stance on short- and long-term rates for a prolonged period given deflation risks, Japan's top currency official Kenji Okamura said on Wednesday.
ROSELAND, N.J., March 3, 2021 Private sector employment increased by 117,000 jobs from January to February according to the February ADP? National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute? in collaboration with Moody's Analytics.
Federal Reserve: 1, bond markets: 0. That's more or less where it stands after Round One in the tussle over borrowing costs. February's bond selloff sent U.S. 10- and 30-year Treasury yields more than 30 basis points higher while governments from France to Australia saw their borrowing costs jump.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Elizabeth Howcroft. Euro zone government bond yields edged up on Wednesday, in line with an uptick in global market risk appetite, but remained below the previous week's spike, as market participants focused on comments from central bank policymakers.
Britain's economy is forecast to grow 4% in 2021, finance minister Rishi Sunak said on Wednesday, citing the latest projections from the Office for Budgetary Responsibility during his budget statement. Wednesday's forecasts were lower than those produced in November, when the OBR had forecast a 5.5% rebound for 2021.
SAO PAULO--Brazil's economy expanded in the fourth quarter from the third as the recovery from the worst period of the coronavirus pandemic continued, but the impact of the health crisis still left gross domestic product smaller compared with a year earlier. GDP increased 3.2% in the fourth quarter from the previous three months, and contracted 1.1% from the fourth quarter of 2019, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday.
Brazil's economy shrank last year by 4.1% amid the pandemic, data showed on Wednesday, the worst drop in decades, but not as much as originally expected due to cash transfers to the poor. Latin America's largest economy grew by 3.2% in the fourth quarter, according to official statistics agency IBGE, more than the 2.8% median estimate in a Reuters poll of economists.
* Futures up: Dow and S&P 0.6%, Nasdaq 0.7% By Shashank Nayar and Medha Singh. U.S. stock index futures rose on Wednesday as a swift global roll out of vaccines and a new round of stimulus bolstered bets on a quick economic rebound, with investors also focusing on private employment and service sector reports.
Brazil's economy grew by 3.2% in the three months to December last year, government statistics agency IBGE said on Wednesday, the second consecutive quarter of expansion, which reduced the calendar year drop in gross domestic product to 4.1%. The increase in Brazil's GDP from the prior quarter was more than the 2.8% median forecast in a Reuters poll of economists, while the 1.1% drop from a yea...
Treasury prices have stabilized following last month's rout, but many investors say a continued recovery likely hinges on an imminent decision on U.S. capital rules for banks. A special exemption allowing banks to hold less capital compared with the size of their balance sheets is due to expire March 31, nearly a year after its adoption to facilitate the Federal Reserve response to the coronavirus pandemic. The exemption enables large banks to exclude their holdings of...
The Italian economy's contraction in the fourth quarter of last year was slightly less pronounced than previously estimated, data from the country's statistics agency Istat showed Wednesday. For the October-December period, gross domestic product fell 1.9% over the previous quarter, whereas the preliminary estimate released on Feb. 2 had reported a 2.0% drop. In year-on-year terms, GDP shrank 6.6% in the quarter, unchanged from the preliminary estimate.
The euro zone economy is almost certainly in a double-dip recession as COVID-19 lockdowns continue to hammer the services industry, but hopes for a wider vaccine rollout has driven optimism to a three-year peak, a survey showed on Wednesday.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Senate Democrats Iron Out Details on Covid-19 Aid Package.
Eurozone producer prices rose more than expected in January signalling stronger inflationary pressures early in the pipeline, data from the European Union's statistics office Eurostat showed on Wednesday. Eurostat said prices at factory gates rose 1.4% month-on-month in January for a 0.0% year-on-year change.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. Euro zone government bond yields were little changed on Wednesday, as the market calmed after its recent yield spike and market participants focused on comments from European Central Bank policymakers.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Senate Democrats Iron Out Details on Covid-19 Aid Package.
A look at the day ahead from Danilo Masoni. No wonder, world stocks are marching back toward peak levels. We get another snapshot of the world economy from final PMI figures in a range of countries but advance readings have looked good. As demand for safe-havens abated, the U.S. dollar slipped from near one-month highs.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Biden Says U.S. to Have Vaccines for All Adults by End of May.
Wipro Limited (WIT), a leading global information technology, consulting and business process services company, today announced that it has joined the ?Partnering for Racial Justice in Business initiative? launched by the World Economic Forum to promote a culture of diversity, inclusion, equity and justice for people of all racial backgrounds in the workplace.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Stocks Drop After Monday's Rally.
Australia's economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus.
BEIJING--A private gauge of China's services-sector activity fell in February, with the rate of growth in business activity dropping to a 10- month low, as a recent resurgence of Covid-19 cases globally dampened overseas demand. The Caixin China services purchasing managers index fell to 51.5 in February from 52 in January, Caixin Media Co. and research firm Markit said Wednesday. But the index still stood above the 50- mark separating expansion from contraction for the 10th...
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Stocks Drop After Monday's Rally.
SYDNEY--Australia's economy roared back to life in the fourth quarter, as strong consumer spending and rapid rehiring by companies consigned a pandemic-induced recession at the start of the year--the country's first in nearly 30 years--to history. The resource-rich economy grew 3.1% in the fourth quarter, leaving national output down just 1.1% from a year earlier, the Australian Bureau of Statistics said Wednesday. Economists had expected GDP growth of around 2.3% in the...
* Q4 GDP up 3.1% q/q vs +2.5% consensus. * Q3 GDP upwardly revised to +3.4% * Annual output still down 1.1% vs -1.8% consensus. * 2021 seen stronger led by consumer spending, housing boom. By Swati Pandey.
Japan's services sector extended declines in February for a 13th straight month, as business activity was hit by curbs put in place to stop the spread of the coronavirus pandemic, leading to weak demand.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Stocks Drop After Monday's Rally.
Asian shares edged higher on Wednesday as investors shrugged off concerns that stocks may have rallied too far too fast in the past year, and focused instead on optimism that more imminent U.S. stimulus will energise the global economic recovery.
Federal Reserve governor Lael Brainard said Tuesday that the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. "I am paying close attention to market developments," Ms. Brainard said in a video appearance.
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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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