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Factory Growth Slows Slightly in March
Reuters - Growth at U.S. factories slowed
slightly in March as hiring intentions eased, an industry
survey showed on Friday.
Dollar steadies ahead of quiet week, Greenspan in focus
AFP - The dollar steadied against the euro and the yen ahead of a quiet week for US data and a speech from Federal Reserve chairman Alan Greenspan that could shed light on US interest rates.
US companies face corporate debt mountain
FT.com - More than $100bn of US corporate debt comes due this quarter - the biggest quarterly repayment in about five years - which could pose new challenges for treasurers seeking to manage company debt. Fitch Ratings and Thomson Financial calculate $113.6bn and $117.3bn respectively will come due in the next three months. This comes as the prospect of more aggressive interest rate rises from the Federal Reserve have weighed on Treasuries and sent yields to new highs. ...
Dollar mixed as markets await economic clues
AFP - The dollar held in a narrow range in a day devoid of economic news, with the market awaiting further clues about the US economy and the direction of interest rates.
Fed Chief Calls For Big Portfolio Limits On Freddie, Fannie
Investor's Business Daily - Federal Reserve Chairman Alan Greenspan urged Congress to limit the multibillion dollar portfolios held by mortgage giants Fannie Mae and Freddie Mac .
Dollar aided by inflation talk
FT.com - The US dollar was firmer in European morning trade on Friday as Federal Reserve officials once again lined up to warn of the dangers of rising inflation.
Dollar bulls seen re-emerging after data
FT.com - The dollar remained little changed on Tuesday in spite of a record trade gap in the US as investors awaited the publication of minutes from the last Federal Reserve interest rate meeting.
Fed Debated Approach on Interest Rates
AP - Federal Reserve policy-makers last month expressed concerns about inflation and considered abandoning their stance of only increasing interest rates gradually, according to minutes of their March meeting released Tuesday. In the end, they decided to stay the course.
OECD provisionally shaves economic growth forecast to 2.8 pct
AFP - The OECD has shaved its growth forecast for its 30-member area this year to 2.8 percent from 2.9 percent previously, upgrading sharply prospects for the US economy while cutting the outlook for Japan and the eurozone, provisional estimates showed.
European stocks tumble after Wall Street slump
AFP - European stock markets fell sharply in early trading after a slump by Wall Street overnight on concern that the US economy could be slowing, dealers said.
Stocks hit late 2004 levels on fears of economic soft spot
AFP - New York stocks fell to a five-month low this week, weighed down by worries of a soft US economy, and analysts hoped next week's flurry of corporate reports would bring buyers back to the market.
Japanese stocks plunge on broad concerns
FT.com - Japanese stocks plunged on Monday morning, depressed by a combination of fear over rising Sino-Japanese tension and growing concerns for the US economy.
New Home Construction Posts Big Decline
AP - Inflation at the wholesale level, propelled by a surge in the price of gasoline and other energy products, shot up 0.7 percent in March while construction of new homes and apartments fell by 17.6 percent, the biggest decline in 14 years.
Treasuries shrug off strong US prices data
FT.com - Stronger-than-expected consumer prices sent US Treasury prices sharply lower and pushed yields up, but the slump in prices proved short-lived as the market concluded the data were not going to change the pace of US interest rate hikes.The consumer price index, excluding food and energy prices, rose 0.4 per cent in March, against expectations for a 0.2 per cent increase.The reading initially triggered fears that rising inflation would prompt the US Federal Reserve to raise interest rates at a more aggressive pace, and the 10-year yield shot up by more than 7 basis points to 4. ...
Interest Rates Affect Small Businesses
AP - While $2-a-gallon gasoline grabs plenty of media attention today, small businesses are well aware of another source of rising costs — the upward creep of interest rates. Owners say they've been feeling the effects of rising rates in the nearly 10 months since the Federal Reserve began nudging rates higher.
Fed chief says large deficits a danger
USATODAY.com - Bloated budget deficits pose a danger to the nation's long-term economic health, Federal Reserve Chairman Alan Greenspan warned anew Thursday. He issued a fresh call to policymakers to move swiftly to get the government's fiscal house in order.
The Fed: No More "Measured"?
BusinessWeek Online - When Federal Reserve Chairman Alan Greenspan and his central bank colleagues first began talking about 'measured' interest rate increases a year ago, they were sure of one thing: They didn't expect a repeat of 1994-95, when the Fed aggressively jacked up rates from 3% to 6%. This time around, with inflation ultralow and productivity superstrong, Greenspan & Co. felt the central bank could take a more gradual approach to a tighter monetary policy.
It Sees Opportunity Where Others See Risk
Investor's Business Daily - Total consumer debt in the U.S. hit a record $2.1 trillion in February, according to the Federal Reserve. The average family owes $9,200 on its credit cards. That means more people keep falling into Nicholas Financial's market.
Fall in US orders adds to fears on economy
FT.com - Orders for durable goods fell unexpectedly last month, hinting at a slowdown in business investment and adding to the mounting concerns among investors over the strength of the US economy.
US GDP growth slows to 3.1 per cent
FT.com - The US economy grew at an annualised rate of 3.1 per cent in the first quarter this year, slower than the more robust pace of growth of about 3.6 per cent expected by economic analysts.
US consumer spending, incomes up
AFP - US consumer spending and personal incomes both rose by solid margins in March, according to a government report released days before Federal Reserve policymakers meet.
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