By Howard Schneider and Lindsay Dunsmuir (Reuters) – Federal Reserve officials, buffeted by concerns the economy might again overheat, got relief on Friday when jobs data for April showed a marked cooling in wage growth and a pace of hiring in line with levels seen before the COVID-19 pandemic. The gain of 175,000 payroll jobs …
Weaker US jobs data soothes Fed worries of renewed overheating Read More »
BERLIN (Reuters) – German manufacturers deepened a decline in their order books in March, but economists pointed to a high comparative base of the previous year’s period and hinted at potential signs of easing, the VDMA association reported on Friday. Orders fell by 17% in real terms year-on-year in March, but March last year saw …
German engineering orders deepen decline in March, reports VDMA Read More »
FRANKFURT (Reuters) – The European Central Bank is “most likely” to cut interest rates just three times this year as stronger-than-expected economic growth supports inflation, ECB policymaker Yannis Stournaras said in an interview with a Greek media outlet. The ECB has all but promised to start lowering borrowing costs from their current, record highs in …
ECB’s Stournaras sees just three rate cuts in 2024 on strong growth Read More »
A look at the day ahead in European and global markets from Ankur Banerjee: A more dovish-than-expected Federal Reserve meeting and an eye-watering $110 billion share buyback programme from Apple have boosted risk sentiment ahead of the crucial U.S. nonfarm payrolls report later in the day. But let’s be honest – yen remains the talk …
By Carolina Mandl NEW YORK (Reuters) -Citadel’s flagship fund, Wellington, rose 2% in April, overcoming a month of pain for the S&P 500, a source familiar with the matter said. Sticky inflation data unveiled in April spread fears that the Federal Reserve might hold interest rates higher for longer than anticipated, driving stocks down. The …
Citadel’s flagship fund rose 2% in April, defying market turmoil Read More »
By Matt Tracy (Reuters) – Spreads on U.S. high yield bonds, or the premium companies pay over U.S. Treasuries, remain tight despite a pick-up in distress within the asset class, as investors see the majority of issuers weathering higher-for-longer interest rates. Elevated rates and persistent inflation have eaten into the bottom lines of many U.S. …
US high yield spreads still tight despite pick-up in distress Read More »
By Nell Mackenzie LONDON (Reuters) – Hedge fund Exodus Point was up about 2% for the year to the end of March, according to a letter it sent to investors, benefiting from a bond market basis-trade that has regulators worried about financial stability risks. Basis and rates trading form over a fifth of the trading …
Hedge fund Exodus Point quarter-end performance lifted by basis trade, letter says Read More »
By Kannaki Deka (Reuters) -Peloton CEO Barry McCarthy, who was tasked in early 2022 to stem the fitness equipment maker’s slide in sales from the pandemic highs, has quit as the company announced job cuts to reduce costs after posting weak results. Its battered shares fell 12% as Wall Street analysts doubted the growth prospects …
Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs Read More »
By Howard Schneider WASHINGTON (Reuters) – Weaker U.S. productivity gains in the first quarter may challenge the Federal Reserve’s efforts to finish its inflation fight without a painful rise in unemployment, potentially stalling progress on prices absent a further economic slowdown. A jump last year in how much workers produce helped the economy grow fast …
Weak US productivity could threaten Fed’s ‘soft landing’ hopes Read More »
By Anandita Mehrotra (Reuters) -Howmet Aerospace raised its full-year forecasts and increased its quarterly dividend on Thursday, powered by demand for its engine products and fastening systems from planemakers looking to cater to a surge in air travel demand. Shares of the company, which supplies to both Airbus and Boeing, jumped about 15% to a …
Howmet lifts dividend, forecasts as robust air travel boosts parts demand Read More »
