By Howard Schneider WASHINGTON (Reuters) – Deposit withdrawals from U.S. banks following the collapse of Silicon Valley Bank were concentrated in around 30 “super-regional” institutions in the $50 billion to $250 billion range, similar to SVB, New York Fed researchers concluded in a newly released study. Deposits among thousands of “community and smaller regional banks… …
By Andrea Shalal NIIGATA, Japan (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. Yellen issued the latest in a series of increasingly stark warnings in remarks …
Yellen warns US default would threaten global economy, undermine its leadership Read More »
FRANKFURT (Reuters) -Euro zone consumers raised their inflation expectations in March for the first time since the autumn, even as the rate of price growth fell and the European Central Bank kept raising interest rates, an ECB survey showed on Thursday. The median respondent in the latest Consumer Expectation Survey saw prices growing by 5.0% …
Euro zone consumers raise inflation expectations – ECB survey Read More »
By Andrea Shalal NIIGATA, Japan (Reuters) – Brazilian Finance Minister Fernando Haddad expressed serious concerns on Thursday that Argentina’s economic challenges and a major drought there could affect the country’s “political destiny” and usher in an extremist government. “We are worried because this situation may affect the political destiny of Argentina,” Haddad told U.S. Treasury …
Brazil’s Haddad raises concerns about economic situation, drought in Argentina Read More »
OSLO (Reuters) – Norway’s centre-left government said on Thursday it plans to spend an extra 56 billion Norwegian crowns ($5.3 billion) from its sovereign wealth fund in 2023 to compensate for soaring inflation and pay for aid to Ukraine. Cash spending from the $1.4 trillion sovereign wealth fund is now expected to reach 372.6 billion …
Norway government raises spending by $5.3 billion due inflation, Ukraine Read More »
By Harry Robertson LONDON (Reuters) – Italian bonds face a rockier road in the coming months after a period of unusual calm, starting with credit ratings decisions over the next two weeks. Ratings agency Fitch will pronounce on Italy’s creditworthiness on Friday. Moody’s will follow suit on May 19, and there is a small risk …
Italian bonds face a raft of challenges as credit ratings loom Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Some investors are growing concerned that the U.S. economy may not be cooling fast enough to justify bets that the Federal Reserve will cut interest rates this year, threatening a view that has helped boost stocks. Expectations of rate cuts in the second half of the year have …
Analysis: Inflation may not be cooling fast enough to justify stock valuations Read More »
By Lucia Mutikani WASHINGTON (Reuters) – The annual increase in U.S. consumer prices slowed to below 5% in April for the first time in two years, while a key inflation measure monitored by the Federal Reserve subsided, potentially providing cover for the central bank to pause further interest rate hikes next month. Nevertheless, inflation remains …
US annual inflation slows to below 5%, price pressures still strong Read More »
By David Lawder WASHINGTON (Reuters) -The U.S. government reported a $176 billion surplus in April, down sharply from a year-ago record as revenues fell, the U.S. Treasury Department said on Wednesday as a June 1 deadline for a potential debt ceiling default drew closer. The April surplus, which reflects tax filing season receipts, was down …
U.S. government posts smaller $176 billion April surplus as revenues shrink Read More »
By John Kemp LONDON (Reuters) – “Think it possible you may be mistaken”, England’s leader Oliver Cromwell demanded in a public letter to the Church of Scotland ahead of the battle of Dunbar in 1650.¹ Cromwell is not known to history for self-doubt or toleration, and the letter was written when he was at the …
Column-Cromwell’s rule and the global economic outlook: Kemp Read More »
