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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
U.K. financial-services firms paid an “unusually high” amount of bonuses in April, the ONS says, as the top rate of income tax was cut that month to 45 percent from 50 percent. Bonus payments in finance were 1.3 billion pounds in April compared with 600 million pounds a year earlier. All bonuses totaled 38.6 billion pounds between 2012 [...]
NEWS: Angela Merkel warned against the perils of excessive debt. India increased efforts to stem the rupee’s plunge and stop capital outflows. Egypt’s security forces broke up sit-ins by Islamist protesters, sparking violence that left hundreds dead. To read more, click here.
NEWS: Germany expects to cut planned 2014 bond sales. U.K. unemployment will hit Mark Carney’s 7 percent threshold faster than the BOE forecasts, a survey shows. The RICS U.K. house-price gauge rose to the highest in almost seven years in July. To read more, click here.
NEWS: Japan’s economy slowed more than forecast last quarter. The SNB will abolish its franc cap once it starts raising rates, Vice President Jean-Pierre Danthine said. Job vacancies at London’s financial-services companies fell by more than a third last month. To read more, click here.