September 26, 2024
United States:
US Post-Pandemic Economic Growth Revised Higher in Annual Update
The US economy bounced back from the pandemic in stronger shape than previously estimated, spurred mainly by bigger consumer-fueled growth, according to revised government data.
The comprehensive annual update from the Bureau of Economic Analysis showed a 5.5% average inflation-adjusted increase in gross domestic product from the second quarter of 2020 through 2023. The revised figure compared with a previously published 5.1% advance.
United Kingdom:
Pound Rally to End as Market Is Wrong on BOE Path, Candriam Says
The pound’s rally looks vulnerable and the currency could fall sharply as markets start to price in deeper interest-rate cuts in the UK, according to a fund manager at Candriam.
Jamie Niven is getting ready to short the pound against the euro, as he says there’s too big a gap between where markets see rates ending up in the UK and euro area. Crowded positioning could exacerbate a slump, he added.
Asia:
China Seeks to Strengthen Listed Companies to Attract More Funds
China’s securities regulator called for the quick development of equity and insurance funds, and to strengthen the quality of listed companies to attract more funding into the capital market.
The China Securities Regulatory Commission will guide funds to transform from scale-oriented to being focused on creating long-term and stable returns for investors, according to new guidelines issued late Thursday. The watchdog will also set up a fast approval channel for ETF index funds.
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