News By Region
Friday, November 27, 2015 - 07:00 German Consumer Climate To Fall To 10-Month Low In December 0
-- GfK: Survey does not reflect potential Paris attacks impact.
-- GfK: Refugee influx pushes down econ optimism, income expectations
FRANKFURT (MNI) - Germany's consumer morale is predicted to slip for a fourth consecutive month in December, data released by GfK showed Friday, as buyers are taking a dim view of the economy.
GfK's key consumer confidence index is forecast to drop to 9.3 points in December, down from an unrevised 9.4 points in November, the research institute said.
That was still above MNI's median forecast, which predicted a drop to 9.2 points.
A potential impact from the Paris terrorist attacks was not reflected in the results...
Friday, November 27, 2015 - 05:55 Canada's BC Province To Sell CNY6 Bln Yuan Bonds In China Mkt 0
BEIJING (MNI) - The People's Bank of China announced that the Canadian province of British Columbia has successfully finished registration to sell CNY6 billion of yuan-denominated bonds in China's onshore interbank market.
Based on PBOC statements, BC will become the first overseas government entity to sell yuan bonds in the onshore market. Previously only international organizations, foreign companies and foreign commercial banks have done so.
"The bond issuance will expand the scope of bond issuers, is conducive to the opening up of our bond market and promote cross border yuan use," said the PBOC in its statement.
Friday, November 27, 2015 - 05:54 BOJ: Finance Minister Approves More Flexible Use of Reserves 0
TOKYO (MNI) - The Bank of Japan said Friday that Finance Minister Taro Aso has approved its request for making a more flexible use of the bank's reserve fund to cover losses from holding government bonds and other assets.
The BOJ still needs to seek approval from the minister every time it actually expands the reserves.
The reason is that the amount of BOJ payment to the national coffers will decline when the central bank shifts more funds to its reserves to cope with losses stemming from an increase in interest payment on excess reserves deposited by financial institutions or from a drop in government bond prices.
Earlier this month the BOJ asked the Finance Minister to consider reviewing its reserve fund system in...
Friday, November 27, 2015 - 05:00 Analysis: EMU Nov Economic Sentiment Stable at 2015 High 0
--Selling price expectations improve in industry, construction
--Consumer price expectations accelerate
LONDON (MNI) - Eurozone economic sentiment remained at its highest level of the year in November, data from the European Commission showed Thursday, although much of the survey was conducted prior to the terrorist atrocity in Paris and may not fully reflect the outlook for the region's recovery.
The Commission's Economic Sentiment Index (ESI) for the currency area was measured at 106.1 in November, unchanged from an upwardly-revised 106.1 tally in November (105.9) and firmly ahead of the MNI median forecast of 105.7....
Friday, November 27, 2015 - 04:30 UK Analysis: Q3 GDP Unrevised at +0.5%; Net Trade Drags 0
--Net Trade Subtracts 1.5 percentage points From Growth
--UK Q3 Household Consumption +0.8%, unchanged from Q2
--UK Q3 Business Investment +2.2% vs +1.6% in Q2
By Laurie Laird and William Wilkes
London (MNI) - The UK economy expanded at a below-trend clip over the third quarter, confirming the preliminary estimate of gross domestic product as net trade dampened quarterly growth by the biggest amount on record.
GDP increased by 0.5% in three months to September, matching the MNI median forecast, unchanged from the originally-reported reading and below than the 0.7% pace recorded in the second quarter.
Friday, November 27, 2015 - 03:02 China Money Week: Credit Spreads Widen Amid Flight to Safety 0
BEIJING (MNI) - Spreads between China's corporate and sovereign bonds widened to a one-month high as jittery investors scurried for safety amid growing concern over corporate creditworthiness as the economic slowdown bites.
In the interbank market, yields on five-year corporate bonds with an AA rating were 184.35 basis points higher than treasury bonds with the same maturity, the widest spread in a month and compared with a six-year low of 165.73 bps seen earlier this month.
"There have been too many credit events recently, which is worrying investors...