The U.S. 10-year Treasury yield climbed Wednesday on the first day of June, with investors focused on rising inflation and interest rate hikes. The yield on the benchmark 10-year Treasury note gained 8.7 basis points at 2.931% as of 2:51 p.m. ET. The yield on the 30-year Treasury bond moved 1.8 basis points higher to …
WASHINGTON, June 1 (Reuters) – U.S. manufacturing activity picked up in May as demand for goods remains strong, which could further allay fears of an imminent recession, but a measure of factory employment contracted for the first time in nearly a year. The Institute for Supply Management (ISM) said on Wednesday that its index of …
Continue reading “U.S. manufacturing sector regains speed in May-ISM”
Bear market bounces are violent yet short-lived. The latest excuse for an oversold rally was provided by JP Morgan’s Jamie Dimon. The bank’s CEO stated at Morgan’s Investor Day Conference on Monday, May 23rd, that the US economy remains strong despite gathering storm clouds. He said, “I’m calling it storm clouds because they’re storm clouds. …
Exempting Russia from the OPEC+ alliance’s oil-production agreements is being discussed by some members of the Organization of Petroleum Exporting Countries, the Wall Street Journal reported. Such a move would have major ramifications for global oil supply. Russia is one of the world’s top three crude producers — along with Saudi Arabia and the US …
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The world faces a “much bigger” energy crisis than the one of the 1970s, the Executive Director of the International Energy Agency (IEA), Fatih Birol, told German daily Der Spiegel in an interview published on Tuesday. “Back then it was just about oil,” Birol told the news outlet. “Now we have an oil crisis, a …
Continue reading “IEA: Current Energy Crisis Is “Much Bigger” Than 1970s Oil Crunch”
May 30 (Reuters) – The U.S. Federal Reserve should raise interest rates by a half percentage point each time at more than its next two meetings, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to bring down high inflation. “I support …
Continue reading “50 bps rates hike on table till inflation hits target – Fed’s Waller”
Bear market bounces are violent yet short-lived. The latest excuse for an oversold rally was provided by JP Morgan’s Jamie Dimon. The bank’s CEO stated at Morgan’s Investor Day Conference on Monday, May 23rd, that the US economy remains strong despite gathering storm clouds. He said, “I’m calling it storm clouds because they’re storm clouds. …
U.S. stock futures rose on Monday in light holiday volume, helped by plans from the world’s number-two economy to lift some restrictions as it fights COVID more aggressively than the rest of the world. While U.S. stock exchanges are closed in observance of Memorial Day, electronic futures trading continues. On Friday, the Dow Jones Industrial …
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Authorities in Shanghai have announced that some Covid-19 lockdown measures imposed on businesses will be lifted from Wednesday. Plans have also been introduced to support the city’s economy, which has been hit hard by the restrictions. The commercial centre has been under a strict lockdown for almost two months. Meanwhile, China’s capital Beijing has reopened …
Continue reading “Shanghai confirms lifting COVID lockdown Wednesday”
European Union officials are meeting Monday to try to break an impasse over a proposed embargo on Russian oil imports amid continued resistance from Hungary. The EU failed to strike a deal despite a push to get an agreement before a two-day meeting of the bloc’s leaders starting Monday afternoon in Brussels. Hungary is refusing …
Continue reading “EU Seeks Elusive Accord on Russian Oil Embargo”