European inflation is falling faster than the European Central Bank had expected, slowing to a 2.4% annual pace in November after peaking at 10.6% in October 2022. The central bank will struggle to insist on its “higher for longer” interest-rate stance if the euro-area economy continues to weaken even as consumer price increases ebb. Significantly, … Read more
Andrea Orcel has seen UniCredit Group SpA’s share price more than treble in his first three years as the Italian bank’s chief executive officer. But Orcel isn’t running victory laps; nor should he be. What the former head of UBS Group AG’s investment bank has achieved so far was the easy part. Finding low-risk, sustainable … Read more
Good morning. High-stakes OPEC+ meeting, a bond rally that traders desperately need and Musk swings expletives at advertisers. Here’s what people are talking about. OPEC+ continued talks to resolve a deadlock on oil quotas — and potentially take further steps to shore up flagging crude prices — on the eve of its ministerial meeting. Group … Read more
Stock Market Today: Dow, S&P Live Updates for November 29 Bloomberg Source link
I’m Chris Anstey, a senior economics editor in Boston and today we’re looking at the latest US economic monthly survey. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. … Read more
The UK Economy Continues to Beat Expectations Bloomberg Source link
There’s a lot of optionality left, both in the economy and in the interest rate outlook. The US economy is slowing, but by how much, we still don’t know. That means we have a period of volatility still in front of us for asset markets. Still, the risk-reward for US government bonds and mortgages looks … Read more
The stock market extended its powerful November rally ahead of Nvidia Corp.’s results, with Wall Street also breathing a sigh of relief as a $16 billion sale of 20-year Treasuries lured bond buyers. Shortly after the auction resultsBloomberg Terminal, US 10-year yields reversed course and fell to around 4.4%. The S&P 500 closed at the … Read more
Inflation eased in both the US and UK, prompting bets that central banks on both sides of the Atlantic will start cutting interest rates by the middle of next year. Meantime, expectations for growth across Europe are improving, but the rebound remains fragile in the European Union’s east. The economic recoveries underway in China and … Read more
Updated Nov. 14, 2023 6:21 pm ET Inflation’s broad slowdown extended through October, likely ending the Federal Reserve’s historic interest-rate increases and sparking big rallies on Wall Street. Consumer prices overall were flat last month and rose 3.2% from a year earlier, a slower pace than in September, the Labor Department said Tuesday. Overall inflation … Read more