August 2, 2023 United States: Fitch’s US Credit Downgrade Sparks Criticism Along With Unease Fitch Ratings’ downgrade of US government debt sparked criticism from Washington and Wall Street even amid unease that swollen fiscal deficits risk eventual turbulence in markets, the economy and next year’s presidential election. Fitch cut the US’s sovereign credit grade one level from
July 31, 2023 United States: Traders Brace for $102 Billion Wave of Treasury Bond Sales The US Treasury is set this week to begin a ramp-up in issuance of longer-dated securities that’s likely to stretch into next year, forced by a rapidly deteriorating budget deficit and soaring interest rates. For the first time since early 2021, the Treasury will
July 28, 2023 United States: Key US Inflation, Wage Measures Cool in Boost for Soft Landing Key measures of US inflation and labor costs cooled significantly in recent months, adding to growing optimism that the economy may be able to avoid a recession. The employment cost index, a broad gauge of wages and benefits, increased 1%
July 27, 2023 Gas Price Movement - July 27, 2023 Disclaimer: Analyst Certification - The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no
July 27, 2023 Effective July 27, 2023, the Governing Council made the decision to raise the three key interest rates set by the European Central Bank (ECB) by yet another 25 basis points. As a result, effective August 2, 2023, the interest rates on the main refinancing operations, the marginal lending facility, and the deposit
July 27, 2023 United States: US GDP Growth Accelerates to 2.4%, Blowing Past Estimates US economic growth unexpectedly picked up steam in the second quarter thanks to resilience among consumers and businesses in the face of high interest rates. Gross domestic product rose at a 2.4% annualized rate after a 2% pace in the previous
July 26, 2023 United States: US New-Home Sales Fall for First Time Since February US new-home sales declined in June for the first time in four months, suggesting high borrowing costs and prices are restraining momentum in the market. Purchases of new single-family homes fell 2.5% to an annualized 697,000 pace after a downward
July 25, 2023 United States: Home Prices in US Rise for Fourth Month With Inventory Tight Home prices in the US climbed for a fourth month as demand coupled with tight inventory to push values higher. A national gauge of prices rose 0.7% in May from April, according to seasonally adjusted data from S&P
July 24, 2023 According to the statistical office of the European Union (Eurostat), the first quarter of 2023 seasonally adjusted government deficit to GDP ratio was at 3.2% in the euro area and 3.0% in the EU, a decrease in both regions comparable to the fourth quarter of 2022. These decreases can be primarily attributable
July 24, 2023 Government debt down to 91.2% of GDP in euro area The government debt to GDP ratio in the euro area was 91.2% at the end of the first quarter of 2023 compared to 91.4% at the end of the fourth quarter of 2022. The percentage ratio fell from 83.8% to 83.7% in
