June 11, 2024 United States: Fed’s Higher-for-Longer Stance Hits Firms That Expected Rate Cut American businesses and consumers started the year thinking interest rates would finally come down, making big plans to buy equipment or a house. Now all of that is on hold, slowing large swaths of the economy for the foreseeable future. In
June 10, 2024 United States: Traders Are Bracing for Volatility on Fed-CPI Double Blow Whether it’s another move up or a dive down, traders are bracing for added volatility wrought by Wednesday’s dual macroeconomic catalysts: a report on consumer prices in the morning and the Federal Reserve’s rate decision in the afternoon. The options market
June 7, 2024 For the end of 2023, the European Central Bank (ECB) has updated its dataset of structural financial indicators for the EU banking industry. This yearly dataset includes information on the number of branches and staff members of EU credit institutions, as well as data on the concentration of the banking industry in
June 7, 2024 United States: Strong US Payrolls and Wage Growth Push Back Bets for Fed Cuts US job growth surged in May and wages accelerated, prompting traders to push back the expected timing of Federal Reserve interest-rate cuts. Nonfarm payrolls advanced 272,000 last month, a Bureau of Labor Statistics report showed Friday, beating all
June 06, 2024 According to the World Bank's Cambodia Economic Update, which was published today, Cambodia's economic activity increased in the first quarter of 2024 despite subdued domestic demand. This growth was fueled by a resurgence of services and products exports. The economy is predicted to increase by 5.8% in 2024, up from 5.6% in
June 6, 2024 United States: US Payroll Gains Not as Robust as Reported, BLS Data Suggest The US job market may be a lot less vibrant than Federal Reserve Chair Jerome Powell and his colleagues seem to think. Data published Wednesday by the Bureau of Labor Statistics suggest payrolls might have grown about 60,000 less
June 05, 2024 Kenya’s real GDP growth rose to 5.6% in 2023, surpassing the previous year’s rise of 4.9%. However, GDP growth in 2024 is predicted to drop down to 5.0%. This is according to the latest Kenya Economic Update (KEU) issued today, which adds that the 2023 rise was driven by the rebound of the
June 5, 2024 United States: Stocks Rise as ADP Payrolls Bolster Rate-Cut Bets: Markets Wrap Stocks rose after a private payrolls report pointed to a slowdown in the US labor market that would allow the Federal Reserve to start cutting interest rates. Equities extended this week’s advance as data showed hiring at US companies grew
June 4, 2024 United States: Stock Pickers Defy Wall Street Norm to Risk It All on a Few Bets For active managers who spread out their bets across the world’s largest stock market, these are harsh times on Wall Street. A historically small number of Big Tech firms keep driving equity indexes to new highs
June 3, 2024 United States: Key Engines of US Consumer Spending Are Losing Steam All at Once The main drivers behind the remarkably resilient American consumer are losing steam at the same time, suggesting a recent pullback in household demand may be more than just a one-off. Real disposable incomes have risen only modestly over
