US May Confidence Stops Slide; New Homes Up

The Conference Board’s US consumer confidence index rose slightly to a reading of 86.6 in May from a downward revised 85.7 reading in April, stopping the slide at two months, but leaving the index well below the recent peak in February. Analysts had expected the May index to rise to 88.3 from the originally reported […]
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NCFX Fix Study Highlights the “Probabilities of Ruin”

A new study by New Change FX (NCFX) studies the cost outcomes of using the London 4pm WM Fix and while it is important to note that the company also offers a benchmarking of transactions service, the study indicates that the cost of trading at 4pm far outweighs the benefits on a 15/1 ratio. To […]
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Fed’s Clarida: Haven’t Changed Mind vs Negative Rates

Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, that the path forward […]
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US May Lease Additional Crude Oil Storage

The Trump administration is pleased with initial results of its actions to secure crude oil for the national stockpile while easing storage pressures on the struggling oil companies, and might conduct similar operations in the near future, Energy Secretary Dan Brouillette said Thursday. Speaking during a virtual meeting of the Secretary of Energy Advisory Board, […]
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Fed’s Williams: Outlook Uncertain; Tools to be Used to the ‘Utmost’

The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course of interest rates remain […]
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US Initial Claims Slow: Existing Home Sales Plunge

The US data released on Thursday were a mixed bag, with data for May showing some signs of recovery, but April data reminding us of how far things slipped in the first month of the shutdown. The level of initial claims continued to slip in the May 16 employment survey week, putting it below the […]
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White House Watch: An Inconsequential Virus Obituary

With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of getting the jobs report, the Consumer […]
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WHW: ‘My Decision to Make’ – The New Virus Anthem

A few loose ends remain but this whole virus thing is about to be wrapped up, with all the states reopening to some degree, so far no virus rebound evident and a vaccine candidate or two coming along fine. Once that vaccine is nailed down and a few hundred million doses administered, back to revving […]
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Fed’s Rosengren: Don’t Give Up Progress in Rush to Re-Open

US economic challenges reflect public health concerns, and it’s critical that progress on containing Covid-19 not be undone as businesses and other activities reopen, Boston Fed President Eric Rosengren said Tuesday. “Public health solutions are paramount – without them, it will be virtually impossible to return to full employment,” Rosengren said in remarks for delivery […]
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Lack of Demand Keeps US Home Building Depressed

The US April home building data, released Tuesday, reflected the lack of buyer traffic and reduced demand that has been in place since mid-March, even as mortgage rates remain near record lows. Construction was labeled as an essential business in most states during the social distancing shutdowns, but without demand builders were reluctant to get […]
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