Warning: Illegal string offset 'page_specific_metadata' in /home/livesqua/public_html/classes/metadata.php on line 120
Livesquawk - European Briefing - Friday 11.06
European Briefing - Friday 11.06
Headlines
  • Federal Reserve Balance Sheet Tops $8 Trillion For First Time
  • RTRS Poll Sees Fed To Announce Taper In August/September
  • Bipartisan Senate Group Seals $1.2Trillion Infrastructure Deal
  • Biden Oppose EV Mileage Tax, Adjusting Gas Tax For Inflation
  • US Lifts Some Iran Sanctions, Easing Pressures In Stalled Talks
  • US Treasury: Congress Need To Fund Debt Relief Programmes
  • US Democrats Seek House Path For Competitiveness, Chip Bill
  • BoC Dep Lane: Inflation Could Remain Hot If Pressures Persist
  • Biden, PM Johnson Put Brexit Tension On Hold In First Summit
  • UK Ponders Four-Week Delay Before End Of Covid Restrictions
  • France’s Macron Repeats EU Will Not Renegotiate NI Protocol
  • Tech Giants Lift S&P 500 To Record As Reddit Favourites Drop
Commentary
Fed To Announce Taper In August/September On Inflation Concerns

The Federal Reserve is likely to announce in August or September a strategy for reducing its massive bond buying program but will not start cutting monthly purchases until early next year, a Reuters poll of economists found.

 

A significant number of Fed watchers also said the central bank would wait until later in the year before announcing a taper, now the main focus for markets fretting over rising inflation as an end to the pandemic in the United States is in sight.

 

Booming demand with the US economy reopening is expected to continue and push up consumer prices this year, with the June 4-10 Reuters poll of over 100 economists showing an upgrade to both growth and inflation forecasts. (RTRS - Continue Reading)

Deal Or No Deal? Confusion Rules Senate Infrastructure Talks

Senators painted a confusing picture on the status of infrastructure talks as they left DC for the weekend, with some claiming major progress and others sceptical a deal is in hand.

 

Late Thursday afternoon, the group released a statement trying to clear up the confusion. But it omitted the total cost of the deal and came only after significant internal discord among the members over how much information to reveal, sources close to the issue said.

 

The senators in the group were mum on the details. Sources close to the negotiations said the number is $579Bln in new spending, and negotiators have discussed two timetables for spending the money, totalling either $973Bln over five years or $1.2Tln over eight years. (Politico - Continue Reading)

Exception To The Rule? G7 Deal On Tax Triggers Carve-Out Talk

With the foundations for a global tax deal finally laid down by the G7, officials are limbering up for a clash over exemptions and other carve-outs for specific industries and special economic zones, with China at the centre.

 

The Group of Seven wealthy, industrialised states agreed on June 5. to support a minimum corporate tax rate of at least 15% and how to share rights to tax the biggest companies operating across borders in their countries.

 

But the official communique from G7 finance ministers made no mention of whether exceptions and exemptions should be made in broader talks underway, leaving a critical question hanging. (RTRS - Continue Reading)

Files & Links
DATA
APAC GOVERNMENT/CENTRAL BANKS
EUROPEAN/AMERICAS GOVERNMENT/CENTRAL BANKS
FX
FIXED INCOME
COMMODITIES/ENERGY
APAC EQUITIES
EUROPEAN/US EQUITIES