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  • UK PM Liz Truss reverses more tax-cutting plans and names Jeremy Hunt as finance minister

    From cnbc.com

    British Prime Minister Liz Truss on Friday scrapped more key tax-cutting policies after sacking her finance minister, in a bid to placate markets after the government’s controversial “mini-budget.” “It is clear that parts of our mini-budget went further and faster than the markets were expecting,” Truss said in a brief press conference. Truss scrapped the pledge to reverse predecessor Rishi Sunak’s hike of corporation tax from 19% to 25%, a decision estimated to restore around £19 billion ($21.4 billion) to the Treasury’s coffers by 2026. Finance Minister Kwasi Kwarteng was fired on Friday after less ... (full story)

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    Fed's Cook: Labor market is very strong

    From @fxmacro|Oct 14, 2022

    tweet at 10:34am: FED'S COOK: LABOR MARKET IS VERY STRONG tweet at 10:37am: Fed’s Cook: - Labor Market Is Very Strong - Inflation Remains Stubbornly and Unaccepatbly High - Core Inflation Has Been Surprisingly Strong - Bottlenecks Easing, Ex-Gas Prices Still Rising Rapidly - Broad Inflation Pressures Suggest Economy Is Very Tight tweet at 10:39am: FED'S COOK: NEED ONGOING RATE HIKES #News #Forex tweet at 10:43am: Fed’s Cook: - At Some Point, Appropriate to Slow Pace of Rate Hikes - It Is Always a Balancing Act With the Fed’s Dual Mandate - Fed’s Rate Increases Aimed to Do Something Now so We Don’t Have To Do More Later - Don’t Want Stop And Go Policy - We Are Committed to Price Stability

    Fed’s Daly: 4.5%-5% Is Most Likely Top Fed Funds Rate, Then Will Hold It There

    From @sevenloI|Oct 14, 2022

    tweet at 10:21am: Fed’s Daly: - Mindful About Making Sure Inflation Doesn’t Become Embedded - We’ll Stop Raising Rates When Appropriate, and Then Will Hold It for A While - We Can Correct Our Course if Needed - 4.5%-5% Is Most Likely Top Fed Funds Rate, Then Will Hold It There tweet at 10:22am: FED'S DALY: THE FED'S SUMMARY OF ECONOMIC PROJECTIONS IS NOT OUT OF DATE. IT IS AN EXCELLENT POLICY GUIDE. tweet at 10:23am: FED'S DALY: US DOMESTIC DATA STRONGLY SUGGESTS FURTHER RATE HIKES. tweet at 10:24am: FED'S DALY: WE NEED TO SLOW GDP GROWTH SUBSTANTIALLY tweet at 10:25am: FED'S DALY: IF NECESSARY, WE CAN ALTER OUR COURSE.

    US: UMich Inflation Expectations Unexpectedly Jumped In October

    From zerohedge.com|Oct 14, 2022|3 comments

    UMich headline sentiment was expected to rise very modestly in preliminary October data and did - beating expectations with a 59.8 print against 58.8 expectations. However, this was driven by a jump in current conditions offsetting a drop in future expectations... chart Continued uncertainty over the future trajectory of prices, economies, and financial markets around the world indicate a bumpy road ahead for consumers. However, what most investors were watching for was inflation expectations which unexpectedly spiked higher... The median expected year-ahead inflation rate rose to 5.1%, with increases reported across age, income, and education. Last month, long run inflation expectations fell below the narrow 2.9-3.1% range for the first time since July 2021, but since then expectations have returned to that range at 2.9%. After 3 months of expecting minimal increases in gas prices in the year ahead, both short and longer run expectations rebounded in October. tweet at 10:01am: US Univ. Of Michigan Sentiment Oct P: 59.8 (est 58.8; prev 58.6) - Current Conditions: 65.3 (est 59.6; prev 59.7) - Expectations: 56.2 (est 58.3; prev 58.0) - 1-Year Inflation: 5.1% (est 4.6%; prev 4.7%) - 5-10 Year Inflation: 2.9% (est 2.8%; prev 2.7%)

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  • Posted: Oct 14, 2022 10:45am
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     Newsstand
    Category: Fundamental Analysis
    Comments: 0  /  Views: 878

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