Fed’s Evans says December interest rate hike is not a done deal

  • October 11, 2017
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Chicago Fed President Charles Evans on Wednesday said a December interest rate hike was not a done deal, according to a report by the Wall Street Journal. In a talk in Zurich, Evans said he saw scope for an “honest discussion” about whether it is the right time to raise interest rates. Evans said the

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U.S. employment drops 33,000 in September; jobless rate 4.2%

  • October 6, 2017
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The U.S. workforce shrank by 33,000 jobs in September as employment was undercut by hurricanes Harvey and Irma. It was the first contraction in seven years. Economists polled had predicted a 75,000 increase in nonfarm jobs, but estimates were all over the map because of uncertainty about the effects of the storms. The unemployment rate,

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September ISM Non-Manufacturing (Services) stronger than expected

  • October 4, 2017
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September ISM Non-Manufacturing (Services) hit 59.8 vs. estimates of 55.5 This is a strong reading considering anything above 50 is expansionary and the Services sector accounts for more than 2/3 of our economic output.  This is very negative for bonds and interest rate pricing.

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Fed’s Kashkari prefers no more rate hikes until inflation hits 2% target

  • October 2, 2017
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Minneapolis Fed President Neel Kashari on Monday openly disagreed with Fed Chairwoman Janet Yellen by urging the central bank not to raise interest rates again until inflation hits the central bank’s 2% annual target. “My preference would be not to raise rates again until we actually hit 2% core PCE inflation on a 12- month

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Fewer auto sales dent consumer spending in August, inflation still weak, PCE shows

  • September 29, 2017
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Consumer spending rose 0.1% in August. If adjusted for inflation, however, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. The PCE index, the Federal Reserve’s preferred inflation gauge, increased 0.1% in August. The closely followed “core” rate that strips out

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US economic recovery ramps up as 2Q GDP hits 3.1%

  • September 28, 2017
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The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years.

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Treasurys extend selloff as Trump’s tax plan weighs on government bonds

  • September 28, 2017
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In the past, bond investors have been skeptical of prospects for tax legislation. But with more concrete details unveiled, Treasurys have seen selling pressure. Nonetheless, analysts feel there are plenty of stumbling blocks that could serve as roadblocks.

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Durable-goods orders jump 1.7% in August

  • September 27, 2017
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Durable-goods orders climbed 1.7% last month, the government said Wednesday. Economists polled had forecast a 1% gain. The increase stemmed mainly from a big batch of orders for commercial aircraft. Bookings surged 45%. Demand was higher for most other manufactured goods, but orders grew at a smaller pace. Orders minus transportation edged up 0.2%. A

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Dudley sees Fed rate hikes as U.S. inflation weakness fades

  • September 25, 2017
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New York Fed President William Dudley, among the first U.S. central bankers to speak publicly since their decision last week to hold rates steady for now, cited the soft dollar and strong overseas growth among the reasons he expects slightly above-average U.S. economic activity and a long-sought rise in wages. “With a firmer import price

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Another strong gain in leading indicators points to U.S. economy picking up speed

  • September 22, 2017
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  A broad measure of U.S. economy posted another large increase in August, the latest in a string of strong readings that point to faster growth in the months ahead. The leading economic index jumped 0.4% last month to cap off a summer of high readings, the Conference Board said Thursday.

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