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President Joe Biden and congressional leaders failed to reach a deal on raising the debt ceiling during a meeting at the White House on Tuesday. The leaders agreed to meet again at the end of the week to continue negotiations. The Treasury Department and budget experts have warned that a bill must be signed by early June to avoid the U.S. defaulting on its debts, which could have catastrophic economic…
Watch today’s US Open for commentary on EUR/USD and NAS100 after Friday’s strong US jobs report and ahead of the US CPI inflation report, Apple’s outlook after its recent quarterly results and more
According to a Federal Reserve report released on Monday, mid-sized institutions' turmoil led to banks tightening their lending standards to households and businesses, which could pose a threat to the US economic growth. The report, called the Senior Loan Officer Opinion survey, revealed that banks had made it tougher to get commercial and industrial loans, mortgages, home equity lines of credit, and credit cards. Respondents expect the situation to persist…
The NFP showed higher average hourly earnings and a lower unemployment rate than expected. The FOMC statement suggests a pause, the RBA delivered a surprise rate hike and the ECB increased rates by a smaller increment. This week we get CPI data on Wednesday and the BoE is expected to increase its official bank rate by 25bps. Disney is set to release results this week and Friday delivers UK GDP…
The US central bank (Fed) and its European counterpart (ECB) adopted very different monetary policy approaches after the failure of SVB and the divergence persisted after this week’s latest decisions, as the stress in the banking sector persists
Watch today’s US Open for commentary on the latest policy decisions by the Fed that hinted to a pause and the ECB, which moderated the pace of tightening, but pointed to more rate hikes
The US central bank hiked rates by another 0.25% to what could be the terminal level, but did take more moves off the table, balancing between financial stress and persistent inflation
The bond market's recession indicator has been signalling an incoming downturn for several months, which could start this quarter. This is based on the inverted Treasury yield curves, specifically the spread between the 2-10 yields, and the spread between the 3-month and 10-year yields.
Watch today’s US Open for commentary on the surprise rate hike of the Reserve Bank of Australia, the acquisition of First Republic by JP Morgan ahead of the Fed’s policy meeting and more
The markets are anticipating the Federal Reserve to raise interest rates by a quarter-point on Wednesday and then take a long break. However, investors should be cautious as they recall the surprising move by Australia's central bank, which increased rates by 25 basis points on Tuesday and warned of the possibility of further rate hikes due to inflation. The market had assumed that the Reserve Bank of Australia would not…
The central bank of Australia raised rates by 25 bps against market expectations for another hold, while keeping the door open to further tightening
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