Author: FX
© Reuters. FILE PHOTO: People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith (Reuters) – Citigroup Inc (NYSE:) is boosting compensation for most of its junior bankers by as much as 15%, Bloomberg News reported on Wednesday, highlighting the talent war on Wall Street even amid downsizing by some firms over recent months. The bank is increasing base salaries for associates and vice presidents by an average of 10% to 15%, the report said, citing people familiar with the matter. Citigroup declined to comment on the report. In its…
I started out the year warning that the US consumer has more left in the tank than believed. The market is beginning to adopt that view, with Bank of America today changing its recession call.”We push back the timing of our outlook for a mild recession in the US economy by about one quarter given durability in consumer spending on account of strong labor markets, excess saving, declining energy prices, and easier financial conditions,” economist at Bank of America wrote. “That said, we think the headwinds will lead consumers to reduce spending and push the saving rate higher as the…
Federal Reserve’s Loretta Mester, president of the Federal Reserve Bank of Cleveland, crossed the wires in recent trade and said,” we’re beginning to see the kind of actions that we need to see.” Her comments to the Associated Press fall in following today’s slew of economic data, specifically the Producer Price Index and Retail Sales. These showed disinflationary tendencies in the data and reinforced expectations that the Fed will continue to reduce its tightening pace in upcoming meetings. “Good signs that things are moving in the right direction … That’s an important input into how we’re thinking about where policy needs to go.…
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© Reuters. People shop in a grocery store in Manhattan, New York City, U.S., March 28, 2022. REUTERS/Andrew Kelly WASHINGTON (Reuters) – U.S. business inventories increased in November as higher interest rates depressed sales, boosting the inventory-to-sales ratio to the highest level in nearly two years. Business inventories rose 0.4% after gaining 0.2% in October, the Commerce Department said on Wednesday. Inventories are a key component of gross domestic product. November’s increase in inventories was in line with economists’ expectations. Inventories increased 15.1% on a year-on-year basis in November. The pace of inventory accumulation has slowed considerably from the robust…
Current policy “not quite” in restrictive territory, needs to be over 5% at leastFed wants to ‘guarantee’ inflation will be on a steady path back to target and not waver on thatWants to err on the tighter side to allow disinflationary process to take holdLast half of 2022 surprised to the upside on jobs and GDPGlobal economic factors have improved with easing recession risks in Europe and China moving towards reopening. But that could fuel inflationThese comments read exactly like a central bank that’s going to stay too tight. Source link
US Market Alert: PPI and Retail SalesUS Producer Price Index (PPI) beats estimates to the downside (-0.5% vs est. -0.1%)US retail sales dropped faster than anticipated in December (-1.1% vs est. -0.8%)Customize and filter live economic data via our DailyFX economic calendarLower PPI adds Further Pressure on the Fed to Pause HikesUS PPI data dropped more than expected in December. As the end consumer breathers a sigh of relief there was more good news to come from the data in the form of a revision of the November figure which corrected a supposed monthly price increase of 0.3% to 0.2%.This,…
Retail Sales in the US declined more-than-expected, by 0.8% in December. US Dollar Index remains heavily offered near a multi-month low after the data. Retail Sales in the United States declined by 1.1% on a monthly basis in December. This follows November’s fall of 0.6% and misses consensus estimates for a 0.8% fall. Excluding autos, core retail sales also contracted by 1.1% during the reported month as compared to a 0.4% fall anticipated and a modest 0.2% drop in November, pointing to a slowdown in consumer demand. Market reaction The US Dollar Index maintains its heavily offered tone and drops…
One of the most common mistakes of newbie traders is focusing too much on finding the next winning trades instead of becoming good traders. It’s not unusual to see newbies who spend most of their time doing fundamental or technical analysis to find a profitable trade setup. Some even straight up copy other traders’ ideas and systems without learning much about the rationale behind them. They’re so afraid of missing a good opportunity that they’d rather devote their trading time to taking trades rather than identifying their strengths and weaknesses and working on their skills. What they fail to understand is that…
Paratek/ Zai Lab antibiotic added for reimbursement in China Source link