INFL

Japan’s inflation hits 8-year high in test of BOJ’s dovish policy

Sept core CPI rises 3.0% yr/yr, matches forecast Core consumer inflation stays above BOJ goal for 6th month Data underscores broadening inflationary pressure BOJ seen keeping ultra-low interest rates on fragile economy TOKYO, Oct 21 (Reuters) – Japan’s core consumer inflation rate accelerated to a fresh eight-year high of 3.0% in September, challenging the central …

Japan’s inflation hits 8-year high in test of BOJ’s dovish policy Read More »

US retailers fill store shelves with leftover holiday inventory

NEW YORK, NY, Oct 19 (Reuters) – The Ghost of Christmas Past haunts US store shelves, sales floors and stockrooms this year. Retailers were sitting on $548.8 billion of inventory in July, a 21.6% increase from last year, according to US Census data. With less than 10 weeks to go before Christmas 2022, major retailers …

US retailers fill store shelves with leftover holiday inventory Read More »

Biden to announce emergency oil sales to prevent price spikes

WASHINGTON, Oct 18 (Reuters) – US President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from the nation’s emergency oil reserve by year’s end and detail a strategy to refill the stockpile when prices drop, administration officials said. The plan is intended to add enough supply …

Biden to announce emergency oil sales to prevent price spikes Read More »

Soaring food prices push UK inflation back to 40-year high

UK inflation hits 10.1% in September, matching 40-year high Food prices rise by most since 1980 Pounds slips on data, BoE under pressure to raise rates LONDON, Oct 19 (Reuters) – The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July …

Soaring food prices push UK inflation back to 40-year high Read More »

Goldman Sachs sees deeper UK recession after tax U-turn, Bloomberg reports

Oct 16 (Reuters) – Goldman Sachs analysts have downgraded Britain’s economic outlook after Prime Minister Liz Truss removed Kwasi Kwarteng as chancellor and reversed a freeze in corporation tax, Bloomberg News reported on Sunday. “Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK …

Goldman Sachs sees deeper UK recession after tax U-turn, Bloomberg reports Read More »

“60/40” portfolios are facing worst returns in 100 years: BofA

LONDON, Oct 14 (Reuters) – Investors with classic “60/40” portfolios are facing the worst returns this year for a century, BofA Global Research said in a note on Friday, noting that bond markets continue to see huge outflows. “2022 (is) a simple tale of “inflation shock” causing “rates shock” which in turn threatening “recession shock” …

“60/40” portfolios are facing worst returns in 100 years: BofA Read More »

US Treasury asks major banks if it should buy back US government bonds

Oct 14 (Reuters) – The US Treasury Department is asking primary dealers of US Treasuries whether the government should buy back some US government bonds to improve liquidity in the $24 trillion market. Investors are worried about rising volatility in bonds as the Federal Reserve rapidly raises interest rates to bring down inflation. The Treasury …

US Treasury asks major banks if it should buy back US government bonds Read More »

Soaring rent, food costs keep US consumer inflation on front burner

Consumer prices increase 0.4% in September CPI advances 8.2% on year-on-year basis Core CPI rises 0.6%; jumps 6.6% year-on-year WASHINGTON, Oct 13 (Reuters) – US consumer prices increased more than expected in September as rents surged by the most since 1990 and the cost of food also rose, reinforcing expectations the Federal Reserve will deliver …

Soaring rent, food costs keep US consumer inflation on front burner Read More »

Services, food boost US producer prices; some relief could be on the way

Producer price index increases 0.4% in September PPI excluding food, energy, trade rises 0.4% Producer prices up 8.5% year-on-year; core PPI gains 5.6% WASHINGTON, Oct 12 (Reuters) – US producer prices increased more than expected in September, but underlying goods prices posted their weakest reading in nearly 2-1/2 years as supply chains improved further, offering …

Services, food boost US producer prices; some relief could be on the way Read More »

US mortgage interest rates rise to highest level since 2006

Oct 12 (Reuters) – The average interest rate on the most popular US home loan rose to its highest level since 2006 as the housing continued sector to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday . Mortgage rates have more than doubled since the beginning …

US mortgage interest rates rise to highest level since 2006 Read More »