Wednesday, May 4, 2016 - 10:40 France Watch: Economy Rises But Hollande Polls Sink Further 0
By Jack Duffy
PARIS (MNI) - France's President Francois Hollande may be riding a wave of positive economic news at present. The question, less than a year before the next presidential election, is whether it has come to late to save him.
The latest poll numbers released Wednesday appeared to nod in that direction. A TNS-Sofres survey for Figaro Magazine showed that Hollande's positive rating slumped to 13% in May, matching its record low in the fall of 2014, just after his former partner, Valerie Trierweiler, published a tell-all book on their relationship.
Wednesday, May 4, 2016 - 09:54 Germany Schaeuble Raises Tax Estimate, Rules Out More Spending 0
By Steven Arons
FRANKFURT (MNI) - Germany's Finance Minister Wolfgang Schaeuble Wednesday upgraded the amount of taxes he expects the German state to collect this year but stressed that higher receipts would not lead to tax cuts or spending increases.
Presenting the government's semi-annual tax estimate in Berlin, Schaeuble said the German government now expects to collect E290.1 billion in taxes this year, up from an estimate of E281.4 billion in November.
The German state as a whole, including regional, municipal and EU taxes in addition to federal taxes, would receive E691.2 billion in tax payers' money in 2016, against a forecast of E671.7 billion in November.
The tax forecasts for the four following years...
Wednesday, May 4, 2016 - 09:40 US Treasury Refunding Chart Pack Titles - Text 0
WASHINGTON (MNI) - The following are selected titles accompanying charts from the chart pack U.S.
Wednesday, May 4, 2016 - 08:52 US Tsy Borrowing Advisory Comte Report To Treasury - Text 0
WASHINGTON (MNI) - The following is the report of the Treasury Borrowing Advisory Committee to U.S. Treasury officials with recommendations on financing policy prepared in advance of Wednesday's quarterly refunding announcement and published Wednesday:
Report to the Secretary of the Treasury from the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association
May 3, 2016
Letter to the Secretary
Dear Mr. Secretary:
Since the Committee last met in early February, the pace of economic activity has slowed noticeably. Annualized real GDP growth slowed in the first quarter to 0.5%, compared to 1.4% and 2% in the fourth and third quarters...
Wednesday, May 4, 2016 - 08:52 US Tsy Borrowing Advisory Comte Report To Treasury - 2 - 0
WASHINGTON (MNI) - The following is the second section of the report of the Treasury Borrowing Advisory Committee to U.S. Treasury officials with recommendations on financing policy prepared in advance of Wednesday's quarterly refunding announcement:
Against this economic backdrop, the Committee reviewed Treasury's May 2016 Quarterly Refunding Presentation to the TBAC. During the first quarter of 2016, tax revenues were weaker than during the equivalent period last year, while Treasury net expenditures rose due to higher interest expense and increased Medicare outlays. Treasury projects a net borrowing need of $687 billion for FY 2016.
Wednesday, May 4, 2016 - 08:44 US Tsy Borrowing Advisory Comte Minutes of Tsy Meeting -2- 0
WASHINGTON (MNI) - The following is the second and final section of the minutes of the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association meeting with U.S. Treasury officials held Tuesday, prior to Wednesday's quarterly refunding announcement and their publication:
Next the presenting member turned to the effect on other sovereign debt issuers. It was noted that record low interest rates in Europe are having several broad effects. Peripheral sovereign issuers in Europe appear to be skewing issuance towards longer maturities.