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- Italian Pres Berlusconi: Does not think confidence vote needed to support austerity measures
- Italian Econ Min Tremonti says elements of austerity package also reinforce 2011 budget
- ForexLive U.S. Wrap: Stocks help risk return, but currencies aren’t interested
- Italian cabinet approves austerity plan
- White House: Strongly disagrees with court decision on healthcare law, is confident the decision will not stand
- Spain’s Econ Min: Expects Merkel, Sarkozy to announce commitment to improve euro governance
- Italian Austerity Plan includes ‘solidarity tax’
- US Appeals court rules that President Obama’s healthcare law’s individual mandate to own health insurance ‘unconstitutional’
- French Money regulator AMF to launch probe into Societe Generale market rumours- RTL Radio
- Dudley Q/A: Don’t Expect Double-Dip Recession, But Risks Up
- S&P may cut Cyprus BBB+ long-term, A-2 Short-term sovereign credit ratings
- ONS Corrects UK Q2 Construction Data To 0.5% q/q Vs 2.3% q/q
- Fed’s Dudley: Hopes S&P downgrade ‘shot across the bow’, if you don’t do what’s needed in timely way, will reinforce commitment to long-term fiscal consolidation.
- Fed’s Dudley-”We do not expect a double-dip recession,” Expects economic recovery
- Euro lower into London fixing…
- WTI Rally running out of steam at $87.35
- Forecasters In Phil Fed Survey Slash 2011, 2012 Growth Outlks
- NY Fed: To Conduct Mon Small-Scale RRP Operational Exercise
- Fed’s Dudley:Lower Rates After FOMC Action To Help Econ,Jobs
- Fed’s Dudley: Economic growth so far in 2011″ quite a bit slower than expected earlier in the year
| Italian Pres Berlusconi: Does not think confidence vote needed to support austerity measures Posted:    |
| Italian Econ Min Tremonti says elements of austerity package also reinforce 2011 budget Posted: Measures will cut 2012 deficit/GDP to 1.4% in 2012, zero in 2013 Pension measures will create savings of around 1 bln euros in 2012 No alternative to these austerity measures  |
| ForexLive U.S. Wrap: Stocks help risk return, but currencies aren’t interested Posted: US July retail sales +0.5% Roubini warns of Global recession risk Fed's Kocherlakota: Dissented from FOMC decision because saw no need for more accommodative policy Dutch PM says countries such as Greece and Italy have not moved quickly enough to strengthen thier economies Univ of Michigan consumer sentiment prelim Aug 54.9 US June business inventories [...]  |
| Italian cabinet approves austerity plan Posted: That was quick! some one tell the Dutch PM..!..  |
| Posted: Believes healthcare act will ‘ultimately be upheld as constitutional’ This was always going to be a sticky issue., but the response from Obama Inc was a given.  |
| Spain’s Econ Min: Expects Merkel, Sarkozy to announce commitment to improve euro governance Posted: Cannot rule out other countries to join short ban in next few days Deficit , reforms absolute priority, over growth  |
| Italian Austerity Plan includes ‘solidarity tax’ Posted: Set at 5% on incomes over Euro 90k , 10% on incomes over Euro 150k Brings forward date for increased retirement age for women in private sector to 2015 from previous date of 2020 Plan to lift tax rate on financial income to 20%, except on Government bonds  |
| Posted: Court rules that rest of Obama healthcare law can stand without the individual mandate Rules in favour of 26 US states that challenged requirement americans buy health insurance  |
| French Money regulator AMF to launch probe into Societe Generale market rumours- RTL Radio Posted:  |
| Dudley Q/A: Don’t Expect Double-Dip Recession, But Risks Up Posted: –NY Fed President: Slower Growth, High Unemployment Give Pause –But Still Expect Faster Growth in Second Half 2011 –S&P US Downgrade Should Reinforce US Commitment to Fiscal Reform –US Treasury Market Shows No Doubt Re Fiscal Reform Commitment –Retail Sales a Little Better Than Expected By Claudia Hirsch NEW YORK, Aug 12 (MNI) – New [...]  |
| S&P may cut Cyprus BBB+ long-term, A-2 Short-term sovereign credit ratings Posted: Says no longer believes Cypriot fiscal position is sustainable after break up of government coalition Questions ability of Government to meet 2012 ‘ambitious’ 2.5% debt- to- GDP ratio Believes Cypriot banking system capacity to absorb shocks from Greek sovereign debt crisis ‘is not unlimited’  |
| ONS Corrects UK Q2 Construction Data To 0.5% q/q Vs 2.3% q/q Posted: –UK Q2 Construction Output To Have No Impact On Initial GDP Estimate LONDON (MNI) – National Statistics said construction output in the second quarter rose by just 0.5% on the quarter, correcting its earlier error when it announced it had risen by 2.3% on the quarter. The revised data mean the latest quarterly estimate is [...]  |
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| Fed’s Dudley-”We do not expect a double-dip recession,” Expects economic recovery Posted:  |
| Euro lower into London fixing… Posted: Not sure there has been any specific interest into the Fix, but euro’s slide down from 1.4250 kicking in a few stops down through 1.4230. Traders saying liquidity now drying up pretty fast . Euro’s at 1.4218  |
| WTI Rally running out of steam at $87.35 Posted: Sept Nymex crude is back off about $1.25 now as stocks give back some of the earlier gains. (S&P 1174 after earlier highs around 1188) Resistance above is around $88.15  |
| Forecasters In Phil Fed Survey Slash 2011, 2012 Growth Outlks Posted: –2011 GDP Projection Revised Down to +1.7% From Prev Estimate of +2.7% –Expect Q3 Real GDP to Grow by 2.2% vs Prev Estimate of +3.4% –Non-farm Payrolls Expected to Avg 105,500/Month Q3, 111,500 In 2011 By Brai Odion-Esene WASHINGTON (MNI) – The outlook for U.S. economic growth over the next four years has received a [...]  |
| NY Fed: To Conduct Mon Small-Scale RRP Operational Exercise Posted: NEW YORK (MNI) – The following was issued Friday morning by the New York Federal Reserve Bank: As noted in the October 19, 2009, Statement Regarding Reverse Repurchase Agreements, the Federal Reserve Bank of New York has been working internally and with market participants on operational aspects of triparty reverse repurchase agreements to ensure that [...]  |
| Fed’s Dudley:Lower Rates After FOMC Action To Help Econ,Jobs Posted: By Steven K. Beckner (MNI) – New York Federal Reserve Bank President William Dudley Friday defended a Tuesday decision by the Fed’s policymaking Federal Open Market Committee to hold the federal funds rate near zero for another two years. He noted that market interest rates have fallen since the FOMC announcement and said that should [...]  |
| Fed’s Dudley: Economic growth so far in 2011″ quite a bit slower than expected earlier in the year Posted: Growth in NY Fed district “disappointing” Household spending has flattened out Policy makers gave a “sober assessment” of the economy NY city securities industry lost 4,000 jobs  |
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