Hints and tips:
...The July “data provides little encouragement that the economy is turning the corner”, Robert Carnell, head of Asia-Pacific research at ING, the Dutch bank, wrote in a note....
...Additional reporting by William Langley and Hudson Lockett in Hong Kong...
...Senior Fed officials including Lorie Logan, head of the Dallas Fed, and John Williams, head of the New York Fed, have signalled they don’t expect to raise interest rates in September, though did stop short...
...Robert Carnell, chief head of Asia-Pacific research at ING, the Dutch bank, noted that the RBI had highlighted in its statement that its benchmark rate remained below its pre-pandemic level....
...Robert Carnell, head of Asia-Pacific research at ING Bank, said that global investors were in a “risk-off” mood this week as they considered a surge in Covid-19 in Europe, the potential for further monetary...
...Robert Carnell, regional head of research for Asia Pacific at ING bank, said the Reserve Bank of Australia, which has kept interest rates low despite trends for monetary tightening in other parts of the...
...“In a crisis like this, all the weak spots get revealed,” William Dudley, former head of the New York branch of the Fed, later said. ‘The market had been primed for a 2008-style response....
...Rob Carnell, chief international economist at ING, noted there were still several important US data releases due before the Fed’s Open Market Committee makes its decision on Thursday, including industrial...
...“It will be another couple of months before we get a clear view of what is going on, without new year distortions,” said Mark Williams at Capital Economics....
...“Today’s downbeat flash PMI leaves little doubt that the manufacturing sector is now cooling,” said Mark Williams at Capital Economics....
...Mark Williams, at Capital Economics, said it was unlikely that any steps the BoJ might take would have a lasting impact on the exchange rate anyway....
...“If the BoJ was trying to open a new front in an ongoing currency war, one might have expected it to increase its firepower: the sums involved are too small to make much of a difference,” said Mark Williams...
...“After recent comments from core Fed members, including [William] Dudley and [Ben] Bernanke, we expect a smaller scale QE to be announced in November, with the ability to add to it at later meetings.”...
...Rob Carnell, ING: Hopefully not at all, though Hilary Clinton is sounding worryingly protectionist, using some misquote of Paul Samuelson to justify standing in the way of globalisation....
...Rob Carnell, ING: According to the FT, the Chinese will probably end up taking it, or some other SWF. But does it really matter? Probably not....
...Trevor Williams, Lloyds TSB: Inflationary pressures are not to be ignored. Keynes once said that the long run is simply a series of short runs....
...Rob Carnell, ING: For me, the central question is now, can central banks keep on ignoring asset markets in the mix of their policy setting....
...Rob Carnell, ING: Looking at the US - then 15%+ peak to trough falls. Consumption down to 1.5%. Not enough on its own to say definitely recession, but painful slowdown nonetheless....
...William Poole of the Federal Reserve Bank of St. Louis thinks that this may be what investors who lose money on subprime mortgage-linked securities deserve for not looking at them closely enough....
...Rob Carnell, ING: I would put China top of the list - as we know the US should slow, so that should not be principal risk, but the base case....
...William Poole, the president of the St Louis Fed, was quoted late on Monday as saying that it was reasonable for markets to expect further US rate rises....
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