It’s becoming increasingly tricky to know how to fairly and dispassionately judge the various sentiment surveys from Markit economics. On Monday they suggested that the UK’s manufacturing orders have reached a 19 year high and that the manufacturers in the UK are employing an extra 5,000 each month. As a consequence analysts in the UK […]
Thursday was a relatively quiet day for the markets due to the closure of the USA markets for the thanksgiving holiday. However, one of the most illuminating events of the day concerned the governor of the Bank of England Mark Carney. His decision, that the funding for lending programme which banks in the UK have
UK BoE governor stuns UK banks by redirecting the funding for lending scheme Read More »
There was mixed economic news from the USA on Wednesday, the Conference Board index improved by 0.2%, short of expectations and less than the previous 0.9% increase for the month of September. Crude oil supplies rose, the USA weekly unemployment claims fell sharply; down to 316K down circa 10,000 from the previous week. However, durable
Tuesday was a busy day for news from the USA. But firstly the news that the UK is hiring in the service sector, at the fastest rate for six years, adds more fuel to the belief that the UK economy is recovering at a better pace than many would have predicted at the start of
New Zealand is the Lord Of The Rings as deficit shrinks to a record low Read More »
According to Markit Economics U.S. private sector activity increased in November after slowing during the previous month, whilst new orders grew at their fastest pace since April 2012. Financial data firm Markit stated that its preliminary composite Purchasing Managers Index (PMI), a weighted average of its manufacturing and services indexes, rose to 57.1 in November
The DJIA rose more than 100 points and finally closed above 16,000 for the first time in history. The index crossed that psychological milestone earlier this week, but then sold off for three days as the index closed in the red. The S&P 500 also closed up, while the Nasdaq rose more than 1%. The
Dow closes above 16,000 for first time as dollar yen rises above 101 Read More »
Perhaps the most illuminating comment in the latest FOMC meeting minutes, published late Wednesday evening, was the commitment that; “the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends”. This appears to suggest that even if (when) the
Tuesday proved to be a fascinating day for news that wasn’t previously pencilled in as high impact news events. The OECD issued another estimate with regards to global economic growth, whilst the troika is (as predicted) having difficulty in agreeing new terms with the Greek government in relation to further bailout funds. Germany’s ZEW index
Will the EU ignore the OECD’s suggestion regarding quantitative easing? Read More »
The Dow Jones industrial average eventually hit a new record high on Monday, creeping over the critical psyche number of 16,000 for the first time shortly after the start of trading on Wall Street. The Dow rose 61 points in early trading to hit 16,023, up 0.4%. The S&P 500 also hit record highs, up
Dow Jones Index finally but briefly breaches 16,000, up circa 30% in 2012 Read More »
There were plenty of high impact news events on Thursday to keep analysts on their toes. The USA unemployment claims came in worse than expectations, the USA balance of payments increased sharply, Janet Yellen gave evidence to a senate hearing during her confirmation hearing, Ireland came in for praise for how it’s handled its austerity
