Federal Reserve Bank of Dallas President Lorie Logan said more interest-rate increases will likely be needed to spur meaningful disinflation and bring price-growth rates back to the central bank’s target. “I remain very concerned about whether inflation will return to target in a sustainable and timely way,” Logan said Thursday in remarks prepared for delivery … Read More “Fed’s Logan says more rate hikes needed to slow hot inflation” »
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Asian shares declined Wednesday as growth in China’s services industry slowed, underscoring concerns over the tepid recovery in the world’s second-largest economy. A region-wide gauge of equities dropped 0.5%, as stocks also fell in Japan, South Korea and Australia. Futures for benchmarks in the US and Europe edged lower. Initial losses in Chinese equities deepened … Read More “Asia stocks fall as China PMI data sours sentiment: Markets wrap” »
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The rally in global shares paused Tuesday amid lackluster trading as US futures fluctuated and Japanese equities weighed down a gauge of Asia stocks. The Australian dollar declined after the central bank kept interest rates unchanged while the yield on the nation’s policy-sensitive three-year bond reversed an earlier gain. Australian equities rose. Both economists and … Read More “Equities halt rally; Aussie falls on RBA’s pause: Markets wrap” »
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China is falling into a “balance-sheet recession” and needs to ramp up fiscal stimulus quickly to address the challenge, according to the economist who coined the phrase to explain Japan’s descent into stagnation in the 1990s. “China is entering balance-sheet recession,” said Richard Koo, chief economist at the Nomura Research Institute, the research arm of … Read More “Inventor of ‘balance-sheet recession’ says China is now in one” »
European and US stock futures inched higher Friday while a gauge of global equities headed for a first-half gain of more about 12%, defying rising interest rates and the risk of recessions in major economies. Treasuries steadied after a sharp rise in yields during the previous session and the yen lit up the currency market, … Read More “Stock futures rise before PCE; dollar-yen hits 145: Markets wrap” »
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South African consumers on both extremes of the income scale are the most affected by the rapid rise in living expenses with pressure exacerbated by unprecedented levels of Eskom’s power cuts. This is according to the latest Consumer Default Index (CDI) figures that track the marginal default rate for credit card, home, vehicle, personal and … Read More “SA’s rich and poor crumbling under financial pressure” »
