June 20, 2023 United States: US Housing Starts Surge Most Since 2016, Exceed All Estimates US housing starts unexpectedly surged in May by the most since 2016 and applications to build increased, suggesting residential construction is on track to help fuel economic growth. Beginning home construction jumped 21.7% to a 1.63 million annualized rate,
June 19, 2023 United States: BlueBay Ditches Bearish Long-Bond View, Says Rates Topping Out Central banks in the US and Europe are signaling further interest rate increases but Mark Dowding, chief investment officer at RBC Bluebay Asset Management, isn’t buying it. Dowding reckons the Federal Reserve and European Central Bank have probably reached the
June 16, 2023 United States: Fed’s Barkin Comfortable Doing More to Slow Resilient US Economy Federal Reserve Bank of Richmond President Thomas Barkin said the central bank might need to tighten monetary policy further to reduce inflation and slow a resilient US economy and labor market. “I want to reiterate that 2% inflation is
June 15, 2023 Main Event Entertainment Group Limited (MEEG) for the six months ended April 30, 2023: Revenue increased 135% to $1.16 billion (2022: $492.54 million). For the quarter, revenue increased 83% to $531.89 million (2022: $290.82 million). Management noted that this was achieved through strong growth in MEEG’s core business activities. Cost of
June 15, 2023 United States: Bond Traders Step Up Bets the Fed Will Steer US Economy Into Recession Bond traders are stepping up wagers that the Federal Reserve will steer the US economy into a recession. Policy-sensitive front-end Treasuries led a selloff Thursday, while longer-date bonds lagged, a day after Fed officials indicated that
June 14, 2023 The seasonally adjusted Producer Price Index (PPI) for final demand fell 0.3% in May 2023, according to the US Bureau of Labor Statistics (BLS). This decline comes after a gain of 0.2% in April and a decline of 0.4% in March. The final demand index increased 1.1% for the year ended
June 14, 2023 The U.S. Bureau of Labour Statistics (BLS) reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in May 2023, on a seasonally adjusted basis after rising 0.4% in April. The all-items index rose by 4.0% before seasonal adjustment over the last year. This reflects the weakest 12-month
June 14, 2023 United States: US Producer Prices Decline by More Than Forecast on Cheaper Gas US producer prices declined in May, restrained by a drop in the cost of gasoline and underscoring a continued easing in supply-side inflation. The producer price index for final demand decreased 0.3% from a month earlier, according to
June 13, 2023 United States: US Inflation Slows, Giving Room for Fed to Pause Rate Hikes US inflation slowed in May, supporting the case for Federal Reserve officials to pause their run of aggressive interest-rate hikes this week. Both the consumer price index and the core CPI — which excludes food and energy —
June 12, 2023 United States: Fed Backs Away From Wages Focus, Bolstering Case for Rate Pause Federal Reserve officials are rethinking their view that wage gains are fueling inflation, a key intellectual shift that bolsters the case for a pause in their tightening campaign this week. Until recently, many top policymakers at the US
