Pessimism weighing on Britain's households has hit unprecedented levels as the cost-of-living crisis pushed confidence in the economic outlook to its joint lowest, a survey showed. Market research firm GfK said consumer morale gauge, dating back to 1974, touched an all-time low of -40 in May from -38 in April.
GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. UK Q1 GDP data last week proved a real disappointment and March monthly GDP did by even more. Furthermore, the situation with the Northern Ireland protocol still hangs over the pound like the sword of Damocles.
- Minneapolis Federal Reserve Bank President Neel Kashkari on Thursday suggested that because household finances are in some cases in better shape than before the pandemic, the Fed may end up needing to raise rates further to bring inflation under control.
* BANK OF CANADA TO AUCTION C$400 MILLION OF 0.25% REAL RETURN BONDS DUE 2054 ON MAY 26 Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/real-return-bonds/
* BANK OF CANADA TO AUCTION C$4 BILLION OF 2% BONDS DUE 2032 ON MAY 25 Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/nominal-bonds/
The Biden administration?s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank?s independence. But he did not meet the same resistance from Republicans as the White House?s first choice, Sarah Bloom Raskin, observers said.
Refinitiv Lipper reported $2.712 billion of outflows, bringing the total outflows so far in 2022 to $65.8 billion, surpassing the last largest annual outflows of $63.5 billion during the Taper Tantrum in 2013.
AM Best has affirmed the Financial Strength Rating of A and the Long Term Issue Credit Rating of ?a? of the U.S. operating subsidiaries of Global Indemnity Group, LLC (GBLI) [NYSE: GBLI]. Concurrently, AM Best has affirmed the Long-Term ICR of ?bbb? of Global Indemnity..
U.S. Treasury yields fell on
Thursday, with those on benchmark 10-year notes sliding to
three-week lows, as continued softness in U.S. economic data
fueled growth concerns amid aggressive monetary ...
Some worry that governments will use new infrastructure funds for generic, shovel-ready projects, or even tax cuts, instead of collaborative plans that could transform regions.
Shopify Inc shares are trading higher Thursday amid a drop in Treasury yields. The 10-Year Treasury yield was hovering around 2.855% at press time.?Lower rates increase the present value of future cash flows, which can positively impact the valuations of growth stocks.
This year, Davos, Switzerland,?will host some of the world's most prominent psychedelic industry leaders and researchers in a separate satellite event that will run parallel to the World Economic Forum.
KBRA assigns the long-term rating of AA+ with a Stable Outlook to the Department of Water and Power of the City of Los Angeles Water System Revenue Bonds, 2022 Series C. Concurrently, KBRA affirms the long-term rating of AA+ with a Stable Outlook to the Department of Water and Power of the City of Los Angeles outstanding Water System Revenue Bonds. Click here to view the report.
Brazil's Economy Ministry maintained on Thursday its forecast of a 1.5% increase in gross domestic product this year and 2.5% next year, as previously reported by Reuters on Wednesday. The ministry raised the IPCA consumer price index projection to 7.9% in 2022 from 6.55% seen in its previous outlook, from March.
The bulk of the first tranches of the $15 billion of IIJA funds will likely be used to figure out where lead lines are located, so states and water systems can determine the scope of the problem.
Casella Waste Systems, Inc. (CWST), a regional solid waste, recycling and resource management services company, today announced that it has priced the previously announced offering of $35.0 million aggregate principal amount of Vermont Economic Development Authority Solid Waste Disposal Revenue Bonds Series 2022 to be issued under an indenture between the Issuer and the bond trustee.
Chicago's preliminary projected gap in the next budget, when Mayor Lori Lightfoot has vowed to reach structural balance, is down from an $867 million estimate.
* Weekly jobless claims increase 21,000 to 218,000. * Continuing claims drop 25,000 to 1.317 million. * Mid-Atlantic factory activity slows in May. * Existing home sales fall 2.4% in April. By Lucia Mutikani.
Mortgage rates in April averaged their highest level since 2010, while inventory of houses continued to decrease across the Empire State,?according to the housing report released today by the New York State Association of REALTORS?.? According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage rose from 4.17 percent in March 2022 to 4.95 percent in April 2022.
The Federal Reserve has "important but quite limited" authorities to police financial risks emanating from climate change, according to Michael Barr, President Biden's nominee to lead to the central bank's regulatory work.
Michael Barr, the second person nominated by Democratic President Joe Biden to be the Federal Reserve's Wall Street cop, looked to be on a path to confirmation after testifying before the Senate on Thursday. Barr, who served as a senior Treasury Department official under Democratic President Barack Obama, received some skeptical questions from Republican lawmakers.
U.S. Treasury yields fell on
Thursday, with those on benchmark 10-year notes sliding to
three-week lows, as continued softness in U.S. economic data
supported growth concerns amid an aggressive path ...
The Federal Reserve has "important but quite limited" authorities to police financial risks emanating from climate change, according to Michael Barr, President Biden's nominee to lead to the central bank's regulatory work.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
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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