Monday, November 30, 2015 - 12:35 US Congress Week: Omnibus Talks, Yellen Testimony Top Agenda 0
--Fed Chair To Testify Thursday To Hill's Joint Econ Panel
--Senate Set To Vote Again To Dismantle Affordable Care Act
--Talks Continue on FY 2016 Omnibus Spending Bill
WASHINGTON (MNI) - As Congress's disjointed, recess-heavy November gives way to a very busy December, lawmakers will shift into a higher gear this week as they scramble to complete work on a massive spending bill, surface transportation funding and a tax extenders package.
The House and Senate are returning to Washington Monday after a 10-day Thanksgiving recess.
The full Senate is expected to consider a bill...
Monday, November 30, 2015 - 08:10 Fed Prepares to OK Anti-Bailout Curbs re Emergency Lending 0
--Rule Requires Broad-Based Lending Be to 5 or More Entities
--Yellen: Remaining Broad-Based Lending Powers 'Critical Tool'
WASHINGTON (MNI) - Regulatory amendments confirming the Dodd-Frank directive against emergency Fed lending to single firms, as was done with Bear Stearns and AIG, will require any broad-based lending cover at least five entities, once the Federal Reserve Board approves them later in the morning.
The five-party rule and a prohibition against any emergency loan proceeds being passed-through to other insolvent firms are part of the changes imposed on the Fed by Congress after the financial crisis to...
Friday, November 27, 2015 - 13:35 Analysis: New US House Speaker's Big Test Is Two Weeks Away 0
--Stop-Gap Budget Bill Runs Out Dec 11
--$30 Billion Fed Fund Hangs in Balance in Transportation Bill
WASHINGTON (MNI) - With just two weeks to go before budget bills have to be passed to avoid a government shutdown, government employees and, most of all, its contractors - who do not get any payroll losses reimbursed - are pinning their hopes on the new Speaker of the House.
Yet Speaker Paul Ryan has already pledged the ultimate budget bills for a fiscal year, already two months old, will carry "riders" and they could be the mechanism that threatens a shutdown.
Riders are those provisions that are tacked onto a...
Friday, November 27, 2015 - 08:44 EURO WEEK AHEAD: ECB Policy Meeting, EMU Inflation In Focus 0
By Martin Baccardax
LONDON (MNI) - European investors will navigate an active slate of Economic data next week, highlighted by perhaps the most unpredictable monetary policy meetings from the European Central Bank in at least two years.
ECB President Mario Draghi has made little secret of that fact that he would prefer to deepen the Bank's accommodative policy stance in the midst of increasing concern that the Governing Council may struggle to deliver its medium-term price stability mandate.
Market expectations point to a decisive cut in the Bank's deposit facility, taking the record-low rate of -0.2% deeper into negative territory, and an extension or expansion of its asset purchase programme.
Friday, November 27, 2015 - 02:45 France Housing Starts, Building Permits Post Modest Increase 0
Oct-Aug Starts +0.3%; Building Permits +2.5%
PARIS (MNI) - France's housing starts and building permits rose again in the three months through October as a recovering housing market and government stimulus measures spurred increased demand for new homes.
Starts rose by 0.3% in the October-August period compared with the previous three months, while building permits increased by 2.5%, the Ministry for Ecology and Development said Friday.
Starts for single-family homes increased by 2.0% in the period, while those for multifamily units fell by 0.9%. Permits to build individual homes declined by 2.7%, while multifamily permits jumped 6.4%, according to the ministry.
Thursday, November 26, 2015 - 10:16 IFS: UK Austerity Goes On; Osborne Needs Luck To Get Surplus 0
By David Robinson
LONDON (MNI) - The Institute for Fiscal Studies said that, contrary to some press headlines, austerity is still going strong in the UK and Chancellor of the Exchequer George Osborne's luck will need to hold if he is to achieve his goal of an overall budget surplus by end 2019-20.
Osborne unveiled his Autumn Statement Wednesday and it showed lower debt interest payments and forecast modelling changes providing a substantial boost to the public finances in coming years. He slowed the planned pace of spending cuts but the IFS pointed out that these cuts are still substantial.
The IFS also warned that future forecast changes could well be larger than Wednesday's and the impact is as likely be negative as...