•Bloomberg citing Germany’s Handelsblatt •Will post any follow up but they could just be smaller regional banks as you would assume the big boys would have sorted themselves out. These results are going to be the worst kept secret ever.
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Four German banks may fail bank stress tests – German press
The Bank of Japan 8301.TO -0.53% is reaching the limit of what it can buy in short-term debt from the market, a development that suggests it may have to shift its asset buying toward longer-term debt. Such a tweaking of the central bank’s buying operations would effectively strengthen its easing …
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BOJ May Need to Buy More Longer-Term Debt
U.S. consumer sentiment rose in October to the highest in more than seven years, boosted by views on personal finances and the national economy, a survey released on Friday showed. The Thomson Reuters/University of Michigan preliminary October reading on the overall index on consumer sentiment ca…
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U.S. consumer sentiment at highest since July 2007
The ECB may not release its minutes to the public (opting instead to keep these secret for 30 years) at least for now, but earlier today a transcript of its internal deliberations was made public by the NYT, which revealed how the ECB governing council once again snubbed its responsibilities, and in…
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Leaked ECB Minutes Reveal More Internal Posturing Over Cyprus Bail-Out
Recent market turbulence and signs of global economic weakness haven’t yet dimmed U.S. economic forecasts and won’t likely change the Fed’s policy path unless they do, Boston Federal Reserve Bank President Eric Rosengren said on Friday. “So far, the economic data has not shifted enough to think t…
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Fed’s Rosengren: Market turmoil hasn’t dimmed US economic forecast – CNBC
The Consumer Price Index (CPI) rose 2.0% in the 12 months to September, after increasing 2.1% in August. Prices increased in all major components in the 12 months to September. Higher prices for shelter and food contributed the most to the rise in the CPI, while the transportation index posted the…
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Canada Consumer Price Index, September 2014
The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries.1 This trend paused during the Great Recession because of larger wealth losses for those at the top of the distribution and…
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Yellen: Perspectives on Inequality and Opportunity from the Survey of Consumer Finances
New home construction rose in September after slumping a month earlier, indicating halting progress in the residential real-estate market. Housing starts climbed 6.3 percent to a 1.02 million annualized rate from a 957,000 pace in August, the Commerce Department reported today in Washington. The …
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Housing Starts in U.S. Rose in September to 1.02 Million Rate
If you just look at the price action of gold (xau/usd) in October, you would say that it is bullish, up 5.6% from 1183 to 1249.70. It has indeed been putting in higher highs and higher lows, and weak US data in inflation, retail sales, and manufacturing softened the USD across the board. Then good…
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Gold Keeps Shining in October, But For How Much Longer?
BREAKING
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Fed’s Rosengren: Too soon to say if recent market volatility will change Fed’s path"
Canada’s inflation rate is expected to remain above the Bank of Canada’s 2.0% mid-range target in September, with both the total and core year-over-year inflation rates anticipated to stay at 2.1%. Analysts’ forecast in a MNI survey center on an expectation of a +0.1% monthly increase in the tota…
What’s spooking the markets? One thing we can say for sure is that it is not the slightly weaker-than-expected retail sales that triggered the mayhem on Wall Street on Wednesday morning. Most U.S. economic data have actually been quite strong in the month since Wall Street peaked on Sept. 19. …
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Why markets ignore good news from U.S. to focus on bad news from Europe
The top 113 earners among staff at the Federal Reserve’s Washington headquarters make an average of $246,506 per year, excluding bonuses and other benefits – more than Fed Chair Janet Yellen and nearly double the normal top government rate. Yellen, whose salary is set by Congress, earns $201,700…
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At least 113 staffers at U.S. Fed earn more than Yellen
FXCM Inc. today announced certain key operating metrics for September 2014 for its retail and institutional foreign exchange business. Monthly activities included: September 2014 Retail Trading Metrics • Retail customer trading volume(1) of $414 billion in September 2014, 38% higher than Augus…
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FXCM: Record Retail Trading Volume of $414 billion
I thank you for the invitation and for the opportunity to speak here today. Latvia is the latest member of our Economic and Monetary Union. But in a sense, Latvia’s capital could also be considered part of the vanguard. The history of European integration has been a process of back-and-forth, mar…
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Weidmann: Reforms for Recovery and Resilience
When the facts change, chime many economists, they change their minds. And today one of the most influential of their number has changed his. Andy Haldane is the chief economist of the Bank of England. In his first television interview since joining the Bank’s powerful Monetary Policy Committee (MPC…
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Bank of England points to interest rate rise in the middle of next year
BREAKING
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ECB Mersch: Must act forcefully when ‘push comes to shove
Financial institutions have continued to adopt more proactive lending attitudes both at home and abroad. In Japan, they are now geared toward taking more risks in their business operations by, for example, extending loans to firms with relatively low credit ratings. They are also steadily engaging…
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Bank of Japan Financial System Report
recent economic indicators haven’t been good; would be premature to make any conclusions from latest data; No prizes for that observation; ECB committed to take additional measures if needed; expects Eurozone growth to be positive in Q3 &Q4; Coeure still talking in Riga. EURUS…
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ECB’s Coeure says they will start to buy assets “within days”
German Chancellor Angela Merkel and European Central Bank President Mario Draghi aren’t blinking yet. The longest losing streak in European stocks in 11 years and the weakest inflation since 2009 has intensified pressure on the managers of the euro area’s already ailing economy to deliver fresh …
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Euro Economy’s Managers Aren’t Blinking in Market Rout
