The Russia-Ukraine war remains in focus for investors, with the second phase of the conflict, focusing on the Donbas region in eastern Ukraine, fully underway.Īuctions are due to be held on Wednesday for $35 billion of four-week bills, $30 billion of eight-week bills and $20 billion of five-year Treasury inflation-protected securities. Dow Jones analysts estimated 182,000 first-time claims. He told his friend, the editor of his local paper, the Wolverhampton. Initial jobless claims came in slightly higher than expected at 184,000 for the week ending April 16, showing a decline of 2,000, the Labor Department reported Thursday. Fifty years ago today, on 20 April 1968, the austere shadow defence secretary Enoch Powell MP made a speech in Birmingham. Peters said that "from a risk perspective, the concept of inflation peaking and therefore yields starting to peak out in due course as well, will offer some comfort for investors." However, she said that given this peak in inflation would not have fed through into the economic data by the time of the Fed's May and June policy meetings, it made sense that the central bank could go ahead with 50 basis point rate hikes, as had been priced into the market. Grace Peters, head of investment strategy EMEA at JPMorgan Private Bank, told CNBC's "Squawk Box Europe" on Thursday that her team expected inflation to peak during the second quarter of this year, and then fall more materially toward the end of the year and going into 2023. This comes after the IMF cut its global economic growth forecast on Tuesday, for both 20, largely due to the effects of Russia's invasion of Ukraine.Ĭoncerns around inflation and the potential effect of tighter Fed policy has seen yields spike, with the 10-year hitting its highest point since late 2018 on Tuesday, at 2.94%. Jay Powell: In my comments today, I will focus on the Fed’s efforts to promote our maximum employment and price stability goals amid this upheaval, and suggest how lessons from history and a careful focus on incoming data and the evolving risks offer useful guidance for today’s unique monetary policy challenges. I would say 50 basis points will be on the table for the May meeting." The city of Shanghai reported on Tuesday that it had achieved zero. "I also think there is something to be said for front-end loading any accommodation one thinks is appropriate. During the American trading hours, FOMC Chairman Jerome Powell will speak at an event organized by the Wall Street Journal. "It is appropriate in my view to be moving a little more quickly" to raise interest rates, Powell said while part of an International Monetary Fund panel. Speaking as part of a panel of top economic policy officials for a debate on the global economy, Powell said a half-point interest-rate increase will be on the table during the May policy. Powell on Thursday reiterated the central bank's determination to bring inflation down and said that aggressive rate hikes are possible as soon as next month.
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