April 27, 2023 United States: US Economic Growth Slows to 1.1% While Inflation Accelerates US economic growth slowed in the first quarter by more than expected as tepid business investment and a pullback in inventories tempered a pickup in consumer spending. Gross domestic product rose at a 1.1% annualized rate on the back of
April 26, 2023 According to Tourism Minister Hon. Edmund Bartlett, Jamaica’s cruise sector is recovering strongly with continued increases in cruise passenger arrivals. In 2022, Jamaica witnessed cruise passenger arrivals of about 855,000 and the Minister expects 1.4 million cruise passengers to arrive during the current fiscal year. Jamaica remains a first-call destination among
April 26, 2023 United States: Orders for US Business Equipment Decline by More Than Forecast Orders placed with US factories for business equipment fell in March by more than expected, suggesting higher borrowing costs and a cloudy economic outlook are restraining capital investment. The value of core capital goods orders, a proxy for investment
April 25, 2023 United States: US Stocks Fall After Mixed Earnings; Bonds Rise: Markets Wrap US equities declined along with European stocks as investors scrutinized a flood of earnings reports for clues on the outlook for corporate profits amid high interest rates and slowing economic growth. The S&P 500 and the Nasdaq 100 slipped,
April 24, 2023 United States: Bond Traders Wait for Calm to Shatter With Fed ‘Breaking Stuff’ Bond traders are taking little solace in the market’s recent calm for a simple reason: It’s not likely to last. Two-year US Treasury yields, some of the most sensitive to expected changes in interest-rates, held in a relatively
April 21, 2023 United States: US Inflation Seen Coming Down Much Faster Due to Tighter Credit After Bank Failures US inflation is now expected to come down faster than originally projected thanks to tighter credit conditions in the aftermath of several bank failures. Economists lowered their projections for the consumer price index as well
April 20, 2023 United States: Oil Extends Drop as US Slowdown Concerns Eclipse Stockpile Draw Oil retreated for the third time in four days as further signs of a US slowdown overshadowed a substantial draw in crude stockpiles. Global benchmark Brent dropped below $82 a barrel after closing 2% lower on Wednesday. The US
April 19, 2023 United States: US Stock Bulls Ignore 100 Years of Recessions at Their Peril The chorus of stock bulls predicting US equities will weather a recession has got it wrong, if history is any guide. Optimists say stocks hit this cycle’s low in 2022 and an economic contraction this year or in
April 18, 2023 United States: BofA Tops Estimates as Fixed-Income Traders Fuel Profits Bank of America Corp. first-quarter profit beat estimates after its fixed-income traders delivered a windfall large enough to cover the rising cost of the bank’s souring loans. Revenue from fixed-income, currencies and commodities trading unexpectedly rose almost 30% to $3.4 billion
April 17, 2023 Sygnus Real Estate Finance Limited (SRF) for the six months ended February 28, 2023: Net interest loss amounted to $11.53 million (2022: income of $28.71 million). For the quarter, net interest loss amounted to $24.46 million (2022: income of $30.94 million). Of the six-month net interest loss: Interest income increased 51%
