News By Region
Tuesday, February 9, 2016 - 09:26 Some Global Mkt Views Don't Necessarily Jibe with Outsiders' 0
By Denny Gulino
WASHINGTON (MNI) - The views of markets about the global economy can change in seconds but the self-reinforcing fear matrix - with China and Japan's perceived prospects feeding back to depress expectations for any further Fed easing, has embedded itself in the near year, despite some skepticism coming from other directions.
Reporters who cover the global economy hour by hour form observations that can also change instantaneously, but a snapshot of their views provides a counterpoint on some issues, for whatever that is worth.
Five international news agency reporters asked by MNI to identify areas of skepticism versus prevailing global market themes all agreed that caution may be recommended before...
Tuesday, February 9, 2016 - 08:56 US Redbook: Emphasis Remains on Winter Clearance - Text 0
WASHINGTON (MNI) - The following is the text of the weekly retail sales report released by Johnson Redbook Tuesday, for the first week of the February retail period:
The Johnson Redbook Retail Sales Index was up 0.6% in the first week of February. Month-to-date, February was up 0.6% compared to February of last year (relative to a revised target of a 1.0% gain). Month-over-month showed a 2.6% drop versus January (relative to a target of a 2.2% drop). February is a four-week month on the retail calendar, ending on February 27th.
February is generally a transitional month with merchandising emphasis on winter clearance ahead of spring restocking.
Tuesday, February 9, 2016 - 08:50 ECB Weidmann: Will Likely Have To Lower Inflation Forecasts 0
By Steven Arons and Jack Duffy
PARIS (MNI) - European Governing Council member Jens Weidmann said Tuesday that the euro area's economic outlook had darkened in recent weeks, while preparing markets for downward revisions of inflation forecasts to be published in March.
"The economic skies are more cloudy than they were just a few weeks ago," Weidmann said at a press conference in Paris following a meeting of French and German finance officials.
Tuesday, February 9, 2016 - 07:45 Retail Econ-GS: Mixed Results Saw Dept Stores, Apparel Up-Text 0
WASHINGTON (MNI) - The following is the text of the Retail Economist-Goldman Sachs chain store sales report for the week ending February 6:
Michael P. Niemira, chief economist of The Retail Economist, LLC, observed "It was a mixed performance for the industry. However, department and apparel stores seemingly saw some pickup in business over the past week on their inventory clearance."
For those retailers that continue to report monthly sales, the fiscal-month sales for February generally will be released on Thursday, March 3.
--MNI Washington Bureau; tel: +1 202-371-2121; email: firstname.lastname@example.org
Tuesday, February 9, 2016 - 05:32 ECB Allots E60.20 Bln In 7-Day Funds, 101 Bids 0
FRANKFURT (MNI) - The European Central Bank on Wednesday allotted E60.20 billion in its main seven-day refinancing operation at a fixed rate of 0.05%.
The ECB satisfied all of the 101 bids received.
Today's operation resulted in a net drain of E1.027 million after the ECB allotted E61.227 billion in its 7-day MRO last week.
--MNI London Bureau; tel: +44 207-862-7492; email: email@example.com
Tuesday, February 9, 2016 - 05:03 Update BOE Cunliffe: Could Act If Credit Grows Faster Than GDP 0
By David Robinson
LONDON (MNI) - Bank of England Deputy Governor Jon Cunliffe said that he would consider regulatory action if UK credit growth were to outpace GDP growth.
Cunliffe, in a speech at a British Property Federation conference, said that many of the forces that have pushed down on interest rates are likely to be long lasting but that he would not bet on a further sustainable rise in the level of credit to GDP.
"Given the vulnerability that already exists and the powerful drivers in the UK, particularly the housing market, if credit began again to grow faster than GDP, I would want to think about action to manage the financial stability risks sooner rather than later," Cunliffe said.