The August jobs report would beneficial for the FED
August unemployment reached its highest level since February 2022, but this increase may not be detrimental to the US labor market. The tight labor market allows for more supply, and new entrants may take time to fit in. Civil labor force participation increased by 736,000, reaching 62.8%, the highest level since February 2020. The August…
Interest rate expected will tolerate in recent month
US hiring rose in August, but pay growth slowed and the unemployment rate reached its highest level since February 2022. The Fed should finish tightening monetary policy, and interest-rate exposure should be tolerated more than in recent months. Two-year Treasury yields fell 11 basis points to 4.75% before recovering, but swaps traders are pricing in…
US stocks are starting to bounced back on market
US markets ended the week higher after the August jobs report showed a cooling labor market, which the Federal Reserve needs to see for interest rate hikes and inflation return. Fed futures predict a 93% chance of interest rates remaining unchanged at the policy meeting and in the 5.25%-5.50% range through the end of the…
Foreign banks can’t leave Russia quietly
Deputy Finance Minister Alexei Moiseev emphasized the government’s stance against letting international banks leave Russia, stating that the decision to unfreeze Russian assets will determine their departure. Austria’s Raiffeisen Bank has not requested asset sales, but one is under consideration.
The financial technology stop taking a risk after FED warn
Goldman Sachs’ transaction banking unit, TxB, has stopped accepting riskier financial technology clients due to concerns from the Federal Reserve about risk and compliance. The regulator targeted a team providing financial infrastructure to fintech firms, including Stripe and Wise. TxB’s cash payments operation was not questioned.
US oil stocks got their lowest level this year
Analysts predict record demand, producer supply cuts, weaker futures, and higher storage costs will reduce U.S. crude oil stocks to their lowest level this year. A tight crude market into 2024 will raise global oil prices. U.S. inventories fell 10.6 million barrels to its lowest level since December 2022. The International Energy Agency predicted a…
UK banks offering more saving interest rates to gain income
The Financial Conduct Authority (FCA) has ordered nine banks and building societies to explain their savings rates under the harsher “consumer duty” that took effect in July. The FCA is analyzing the information provided and will publish an update later this autumn. The watchdog has reported increased interest rates in term limited and easy access…
US inflation remain high, despite recent gains
Federal Reserve Bank of Cleveland President Loretta Mester emphasized that US inflation remains too high, despite recent gains. She emphasized the importance of regularly monitoring markets and economic data to inform future policy decisions. Mester emphasized the need for policymakers to balance the labor market and employment while maintaining a tightening monetary policy. The Fed…