News By Region
Friday, July 1, 2016 - 10:00 US May Construction Spending Down 0.8%, Homes Flat 0
--Private Construction Dips 0.3%, Public Construction Falls 2.3%
WASHINGTON (MNI) - Construction spending declined for a second straight month in May, falling 0.8% and far below the 0.5% rise expected, data released by the Commerce Department Friday morning showed.
April construction was revised lower to a 2.0% decline from the previously reported 1.8% drop, while March spending was revised up by a tenth to a 1.6% gain.
Private residential spending was flat in the month. New home building was down 0.7% based on an MNI calculation, with single-family building falling 1.3% partly offset by a 1.8% rise in multi-family building.
Friday, July 1, 2016 - 09:18 US Budget Week: Clinton Budget Seen Flawed, Trump's Dangerous 0
--Key Budget Group Examines Fiscal Plans of Candidates
--CRFB: Clinton Plan Doesn't Solve US Fiscal Problems
--CRFB: Trump Agenda Would Lead To Ruinous Debt
WASHINGTON (MNI) - The fiscal plans of Hillary Clinton, the presumed Democratic presidential nominee, and Donald Trump, the expected Republican nominee, fail to confront the U.S.'s major fiscal challenges, the Committee for a Responsible Federal Budget concludes in a report issued this week.
The 56-page CRFB report examines the budget policies of the two leading presidential candidates. It argues that Clinton's array of spending and...
Friday, July 1, 2016 - 08:36 MNI Spotlight: US Yields Plummet As Market Calm Continues 0
--PBOC Steps Up Liquidity Injections
The following are top events and news reported Friday morning ET by MNI in the global financial system:
* In the United States as end-of-the-week trading got underway before a long holiday weekend, the U.S. Treasury 10-year was showing strikingly big price gains, up 13/32s, as the yield declined to 1.430% while the Bank of England hints at some easing measures as soon as next week. In earlier hours the 10-yr showed even bigger moves as the yield slid to 1.378%, appearing to be the lowest on record, at least since 1962. The German 10-year price was also up, gaining 7/32s, at a negative yield down to 0.104%. The British pound impressed with its big declines,...
Friday, July 1, 2016 - 06:20 Praet: UK Referendum One of Numerous Uncertainties EMU Faces 0
By Martin Baccardax
LONDON (MNI) - European Central Bank Executive Board member Peter Praet said Friday that the UK referendum result is one of a number of 'uncertainties' the Eurozone faces at present but vowed the Bank was determined to play a "pivotal role" in support the region's ongoing recovery.
In prepared remarks for a speech at the Financial Times Festival of Finance event in London, Praet, who also serves as the Bank's Chief Economist, said that its various strategies were having a positive impact on the Eurozone recovery but again noted that monetary policy would not be sufficient to address the risks the region is now facing.
"The ongoing recovery has shown signs of strengthening, also on the back of an...
Friday, July 1, 2016 - 06:19 China PBOC Steps Up Use of Targeted Liquidity Tools in June 0
BEIJING (MNI) - The People's Bank of China stepped up injections of liquidity to the market through some of its targeted monetary tools in June, aiming to maintain stability in the interbank market and in money-market rates.
The central bank lent a net CNY171.9 billion via Pledged Supplementary Lending (PSL) to three policy banks, with the outstanding PSL balance rising to CNY1.67 trillion at the end of June, according to a statement on the PBOC's website on Friday which didn't specify at what interest rates the money was lent.
Friday, July 1, 2016 - 04:58 UK Manufacturing Sector Bounces Back In June, At 5-Month High 0
-UK June Manufacturing PMI 52.1 Vs revised 50.4 in May
LONDON (MNI) - The UK manufacturing sector bounced back in June, a survey released Friday showed, hitting a 5-month high and continuing a recovery from April, when the worst results since February 2013 were posted.
The Market/CIPS Purchasing Managers' Index rose to 52.1, rallying from a revised 50.4 in May.