Page 47 - Philly Fed News Today

US industrial production and capacity utilization for May 2023

A look at the day ahead in U.S. and global markets from Dhara Ranasinghe.

While pausing in its rate hikes, the US central bank has maintained a very firm tone with regard to inflationary pressures. Equity markets seem to have taken their cue from this, as nothing seems likely to deviate them from their upward trajectory. However, the decision shows that the Fed is having a little trouble positioning itself in the current economic environment.

Last week's biggest bond rally occurred on Thursday, immediately following the release of the highest Jobless Claims number since late 2021.  Exactly 1 week later and we're looking at the exact same number in this morning's data.  It has been enough to completely counteract the generally stronger message from the other economic reports as well as a hawkish lean in the ECB announcement earlier this morning. 
 While we're on the topic o...

The USD is mostly stronger a day after the Fed hike. ECB ahead

The Dow Jones rallied Thursday after a surprise rise in jobless claims. Tesla stock reversed higher after snapping a record win streak.

A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. A day after the Federal Reserve took markets by surprise with a hawkish message, its the European Central Banks turn in the hot seat. Sh...

The Federal Reserve Bank of Philadelphia released a report on Thursday showing regional manufacturing activity contracted at a modestly faster rate in the month of June.

A day after the Federal Reserve took markets by surprise with a hawkish message, it's the European Central Bank's turn in the hot seat. Short-dated government bond yields in the United States and Europe are heading back up and bullish stock markets are starting to feel, well a little bit less bullish. While the Fed was widely expected to, and did, keep rates unchanged, the U.S. central bank left the door open to more increases ahead.

ECB hikes rates by 25bps and hot inflation outlook sends euro higher Wall Street starts to doubt Fed hiking pledge Fed swap futures suggest a 62% chance o