US The Fed left its policy rate unchanged “for the time being.” The case for a rate hike has strengthened with three members wanting to lift rates this week, exemplified by a rare triple dissent. The Fed has all but set itself up for a hike later this year, with most members remaining optimistic for [...]
US Market volatility picked up this week after a post-Brexit summer slumber, with moves dominated by speculation on whether we have seen seen the bottom for longer-term global interest rates. Weaker than expected retail sales and industrial production data for August suggested modestly slower growth in 16H2, while stronger inflation data is consistent with absorption [...]
US August’s pullback in the ISM non-manufacturing index marked the largest pullback since late 2008. While still in expansion territory, the services measure stands at 51.4 compared to a 55.5 reading in July. The details of the report were also disappointing with the business activity index falling 7.5 points, the forward-looking new orders component declining [...]
US The closely watched August employment report came in below expectations, topping off a full week of economic data releases. Since Chair Yellen’s speech last Friday, the Fed’s case for an interest rate hike was strengthened by solid personal income and spending gains, increased consumer confidence and continued job growth. According to the US consumer [...]
