February 2, 2023 The Governing Council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return of inflation to its 2% medium-term target. Accordingly, the Governing Council today decided to raise the three key ECB interest rates …
Gap between job openings and hiring suggests wage growth could remain high, an indicator that interest rates could rise. Job openings in the United States unexpectedly rose in December, showing demand for labor remains strong despite higher interest rates and mounting fears of a recession, which could keep the Federal Reserve on its policy tightening …
FOMC responses continue. This from Rick Rieder, a BlackRock Managing Director. Rieder is BlackRock’s Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. In brief: Today’s policy statement from the FOMC, and Chair Powell’s press conference, were signals to economic observers and …
LONDON, Feb 1 (Reuters) – (This Feb. 1 story has been corrected to fix the name of CIO in the “Going Private” section to Nicoll from Nicole) The end of the easy-cash era is over and its impact yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high …
The “money illusion” ranks among the most lyrical-sounding concepts in economics. It refers to the mistake that people make when they focus on nominal rather than real values. Anyone chuffed to get a hefty pay rise over the past year without considering whether, after inflation, they can actually buy more has fallen prey to the …
Cochrane’s economy is about to get a huge boost as Garmin Canada is set to announce a significant expansion of its headquarters here in town. The announcement will be made on Monday, February 6 at 10:15 a.m. at Garmin Canada Headquarters in Cochrane. The event will be attended by Jim Rooney, Managing Director of Garmin …
Hundreds of Cochrane jobs expected with major Garmin announcement Read More »
Refining margins in Asia have dropped in recent weeks as China ramped up exports of fuels amid high export quotas assigned to its refiners in recent months. The profit margins of processing diesel are still at high levels historically, and they could start rising again once the EU embargo on seaborne imports of Russian fuels …
Diesel Margins Could Get a Boost from Russian Diesel Ban Read More »
SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still …
Via AG Metal Miner The Chinese stock market reacted to Beijing’s about-face on COVID infections with a surge in prices, particularly in tech stocks. Due to a strong correlation with the stock market, metal prices have continued to rise since December. The expectation is that abandoning any meaningful attempt to control the spread of the …
China’s Reopening Has Been A Boon For Metal Markets Read More »
A couple of analyst snippets in response to Wednesday’s Federal Open Market Committee (FOMC) and Powell. BMO: there are more tightening moves to be realized this cycle still too soon to look for the Fed to shift to an on-hold stance inflation … eased somewhat, but remains elevated the phrase “pace of future increases” transitioned …
FOMC responses – inflation still high, more +25bp hikes ahead, Read More »
