Market Analysis

Banxico Cuts for Third Meeting as Core Inflation Slows
  • November 14, 2024

Banxico Cuts for Third Meeting as Core Inflation Slows

(Bloomberg) -- Mexico delivered a third straight interest rate cut as a key measure of underlying inflation retreats and concerns mount over the slowdown in Latin America’s No. 2 economy.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway

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JPMorgan AM Says ‘Foggy’ 2025 Set to Keep Fed on Hold Next Year
  • November 14, 2024

JPMorgan AM Says ‘Foggy’ 2025 Set to Keep Fed on Hold Next Year

(Bloomberg) -- The Federal Reserve is likely to pause its interest-rate cuts after December to assess the economic impact of policies under President-elect Donald Trump, Karen Ward, chief market strategist for Europe, the Middle East and Africa at JPMorgan Asset Management, said. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3

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Trump’s Ally Lummis Pushes to Sell Some of the Fed’s Gold to Buy Bitcoin
  • November 14, 2024

Trump’s Ally Lummis Pushes to Sell Some of the Fed’s Gold to Buy Bitcoin

(Bloomberg) -- An ally of Donald Trump in the US Senate has a plan for filling up the president-elect’s proposed strategic Bitcoin stockpile without adding to the government deficit: Sell off some of the Federal Reserve’s gold. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emis

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Barkin: Wages, possible tariffs, reasons to be careful about declaring inflation victory
  • November 14, 2024

Barkin: Wages, possible tariffs, reasons to be careful about declaring inflation victory

High union wage settlements and the possibility of coming tariff increases are among the uncertainties that could make U.S. Federal Reserve officials more cautious about thinking they have won their battle against high inflation, Richmond Federal Reserve president Tom Barkin said on Thursday. "Being thoughtful, gradual, systemic, methodical... in terms of declaring victory is not a bad judgment, because you may have cost pressures coming for things like wages or tariffs or whatever happens...

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US regulator looks to put Google under federal supervision, Washington Post says
  • November 14, 2024

US regulator looks to put Google under federal supervision, Washington Post says

The U.S. Consumer Financial Protection Bureau (CFPB) has taken steps to put Alphabet's Google under formal federal supervision, the Washington Post reported, potentially mounting yet another regulatory challenge for the Big Tech giant. Google has fiercely resisted the idea over months of highly secretive talks, the report said on Thursday, citing two people familiar with the discussions. Federal supervision status can allow regulators access to a company's internal records.

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Fed's Kugler says Fed has made good progress on achieving mandates
  • November 14, 2024

Fed's Kugler says Fed has made good progress on achieving mandates

NEW YORK (Reuters) -Federal Reserve governor Adriana Kugler said Thursday the central bank has made considerable progress in working to achieve its job and inflation goals, while stopping short of offering firm guidance over what that means for the near-term monetary policy outlook. “The United States has seen considerable disinflation while experiencing a cooling but still resilient labor market,” Kugler said in a speech given before the 2024 Annual Meeting of the Latin American and Caribbean Economic Association and the Latin American and Caribbean Chapter of the Econometric Society, in Montevideo, Uruguay. But while there’s been progress on getting inflation back to the 2% target, Kugler noted there are likely to be ongoing challenges to further ease price pressures from housing factors and other factors.

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US Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge
  • November 14, 2024

US Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge

(Bloomberg) -- US producer prices picked up in October, fueled in part by gains in portfolio management costs and other categories that feed into the Federal Reserve’s preferred inflation gauge.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceNYC Congestion Pricing Plan With $9 Toll to Start in JanuaryThe Urban-Rural Divide Over

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US wholesale inflation picks up slightly in sign that some price pressures remain elevated
  • November 14, 2024

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday's report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month before. Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain of 1.9% in September.

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US weekly jobless claims fall; unemployment rolls shrink
  • November 14, 2024

US weekly jobless claims fall; unemployment rolls shrink

The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along and that the abrupt slowdown in job growth in October was an aberration. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9, the Labor Department said on Thursday. Claims surged in early October amid distortions from Hurricanes Helene and Milton as a well as a strike by factory workers at Boeing, but layoffs have remained historically low, which is underpinning the economy.

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