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The ECB will keep its policy rate at 0.5 percent for a sixth month today, a Bloomberg survey shows, even after inflation slowed to 0.7 percent in October. The bank on average makes a rate change at about 20 percent of its meetings. March and December have been the most popular months for changes, coinciding with the release [...]
Euro-area unemployment may have remained at 12 percent for a third month in September, a Bloomberg survey shows. The IMF calculates structural unemployment in the monetary union rose to 10.1 percent last month from 7.4 percent before the crisis. The jobless rate in August ranged between 4.9 percent in Austria and 27.9 percent in Greece. Click here to [...]
The U.S. September jobs report, delayed by the government shutdown, will be released today. Nonfarm payrolls may have risen 180,000 after having increased an average of 188,000 each month in the past year. Through August, the U.S. had recovered 6.8 million of 8.7 million jobs lost in the 18-month recession that ended in June 2009. Click here to [...]
The Bloomberg U.S. financial conditions index, first compiled in 1994, reached a series high of 1.527 after U.S. lawmakers approved a measure ending the government shutdown and extending the borrowing authority until next year. The measure was passed by wide margins in the House and Senate. The bill passed on an 81-18 vote in the Senate, followed by a [...]
U.K. inflation slowed to 2.6 percent in September from 2.7 percent the previous month, a Bloomberg survey shows. That would leave the rate above the 2 percent target for a 46th month. The Bank of England forecasts price growth will remain above target until 2015, slowing to 1.96 percent in two years. The BOE has failed to [...]
The cut in the U.K.’s top income-tax rate to 45 percent from 50 percent represented the world’s largest reduction in 2013, a study by KPMG shows. By contrast, the top U.S rate rose to 39.6 percent from 35 percent. The U.K’.s top rate remains the 11th highest in the EU and the 18th highest in the world. Sweden [...]
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Italy’s two-year sovereign bond yield fell to 1.69 percent yesterday, the lowest in eight weeks, after Enrico Letta won a confidence vote in parliament, avoiding the risk of another election. Letta was supported by 235 senators while 70 opposed him during yesterday’s vote. Former Premier Silvio Berlusconi backtracked on a pledge to bring down the government amid signs [...]
Currency traders should be paying more attention to the middle and the long end of the U.S. Treasury curve than the short end. To continue reading click here