Archive for May 2nd, 2018

Central Bank Watch

FOMC Statement

May 2, 2018

Today’s just-released FOMC statement sets the stage for a rate hike in June. The view regarding economic activity and labor market conditions is as upbeat as in March. The comment on investment is even more encouraging. On inflation, officials as much as say that the target is close at hand. A decision not to change […] More

Deeper Analysis

Convergence of U.S. and Euroland Manufacturing Operating Conditions Last Month

May 2, 2018

The rates of improvement in factory operating conditions slowed in April both in the United States and Euroland, but the U.S. deceleration was somewhat more pronounced. Hence, America enjoyed its smallest advantage relative to the euro area in three months. Declines of 3.8 points in the U.S. output sub-index and 3.1% in the U.S. jobs […] More

Central Bank Watch

FOMC Preview

May 2, 2018

Since the 25-basis point federal funds target interest rate hike to a range of 1.50-1.75% on March 21, the 10-year Treasury yield has risen another 7 basis points on balance, the price of WTI oil has climbed 3.5%, and the dollar has appreciated by 3.4% against the yen and 2.5% relative to the euro. A […] More

New Overnight Developments Abroad - Daily Update

An FOMC Announcement and Lots of Data Releases

May 2, 2018

In this second day of the third FOMC policy review of 2018, a statement will be released at 14:00 EDT (18:00 GMT). No rate changed is expected, and no subsequent press conference is scheduled. The fed funds target was last raised at the prior March 21-22 meeting. In light of further evidence of rising inflation, […] More

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