An accredited financial and economic news service, specialising in up-to-the-second broadcast reports and headlines
up to the second audio news feed
live press conference feed
fixed income wire service
see what makes the markets move
Wall Street’s expectations for global corporate profit growth have dimmed significantly, with analysts now forecasting that earnings-per-share will rise just 6.5 per cent in 2019. That comes as concerns grow over the fading health of the international economic expansion that excited investors just a few months ago.
The U.K. parliament can’t agree on how to leave the European Union, but many finance firms have already decided how much money to move out of the City of London -- a shift that’s seen by some as irreversible.
The big banks were among the first to plan to move assets out of London, with Frankfurt standing to benefit handsomely. Five of the largest banks looking to serve continental European customers now intend to move 750 billion euros ($855 billion) of balance-sheet assets to Frankfurt, according to people familiar with the matter.
The Federal Reserve’s best laid plan for a below-the-radar rundown of its $4.1 trillion balance sheet has gone awry.
Rather than operating in the background as policy makers intended, the strategy has been thrust into the spotlight as investors and President Donald Trump have attacked it for fueling last month’s stock market sell-off.
“The sudden and unwanted attention that market participants attached to balance sheet policy has thrown the Fed’s communications on the topic into disarray,” JPMorgan Chase & Co. Chief U.S. Economist Michael Feroli said in a recent note
The global economy is stumbling but not falling over.
That’s the analysis of investors, bankers and former policy makers attending the World Economic Forum in Davos, Switzerland, as they argue the expansion is weakening but not by enough to generate a recession.
“We’re slowing, but we’re still growing,” said Philipp Hildebrand, vice chairman of BlackRock Inc. and a former Swiss central banker. “The chances of a recession short of a major mistake or accident this year are limited.”
The release of the latest labour market report from the Office for National Statistics (ONS) saw employment hit new record highs in the three-months to November 2018. Earnings surprised to the upside, widening the gap between wages and inflation.
The number of people in work rose by 141K in the latest period to hit 32.53mln, beating economists’ forecasts of 87K. This meant the employment rate grew to 75.8pct, its highest level since comparable records began in 1971.
The unemployment rate over the three months dropped unexpectedly to 4.0pct from 4.1pct whilst the single month figure fell to 3.8pct in November; a series low. (LiveSquawk – Continue Reading)
Our audience spans the globe, relying on us to filter out the noise to deliver accurate, reliable and timely news
Our journalists and analysts monitor all major newswires, television channels, news websites, blogs and social media platforms for content with market-moving potential. We only broadcast the most relevant news headlines that you need to know. Our analysis and insights rival any of our competitors
We broadcast 24 hours a day from Europe and Asia, Sunday through Friday (except for selected UK holidays). Commentary covers all the main asset classes, including equities, fixed income, FX and commodities