Strong Jobs Report Boosts US Economy: Unemployment Rate Falls and Payrolls Increase
US payrolls increased by the most in almost a year in March, and the unemployment rate fell. It showed that a strong labor market boosts the economy. US employment rose 303,000 in March, biggest increase in a year – unemployment rate falls (1) Market participants’ views on the statistics are as follows. ◎Mr. Chris Zaccarelli […]
Bank of America: Technology stock flows in the first quarter were among the highest ever
Technology stocks saw inflows of $18.6 billion in the first quarter of the year, the third-largest quarterly inflow ever, and also attracted funds last week, along with significant inflows into cash and bonds, Bank of America Global Research said on Friday. Cash-equivalent money market funds saw inflows of $81.8 billion in the week through Wednesday, […]
ISM Non-Manufacturing Industry Business Index Declines for Second Consecutive Month: Purchase Price Index at Four-Year Low
The general non-manufacturing industry business index for March released by the Institute for Supply Management (ISM) declined for the second consecutive month. Meanwhile, the purchase price index fell to its lowest level in four years. Key Point The non-manufacturing general business conditions index fell 1.2 points from the previous month to 51.4. The median forecast […]
Yen Depreciates Towards 152 Yen Per Dollar, Raises Concerns of Japanese Intervention
The Yen is depreciating against the dollar towards 152 yen per dollar. This is a milestone level that traders see as increasing the risk of intervention by Japanese monetary authorities in the foreign exchange market. The Institute for Supply Management (ISM) released a strong manufacturing industry index for March, pushing the dollar up. The yen […]
Akihiro Fukudome Believes Bank of Japan’s Monetary Policy to Remain Accommodative
Akihiro Fukudome, the new chairman of the Japan Bankers Association (President of Sumitomo Mitsui Banking Corporation), believes that the Bank of Japan’s monetary policy will remain accommodative for some time. The Bank also announced that it expects the policy’s interest rate to be raised “by 0.25% at most” over the next year. Mr Fukudome, who […]
Federal Reserve Prepares to Support Jobs Market Amid Rising Inflation
When inflation rose in 2022, the US Federal Reserve moved to stop the wage spiral by raising interest rates. With the unemployment rate on the rise, the financial authorities have indicated their intention to cut interest rates to stop the downward spiral of job losses, even if inflation remains high for some time. At the […]
Goldman Sachs Raises Dollar-Yen Exchange Rate Forecast Due to Benign Macro Environment
Goldman Sachs Group has raised its forecast for the dollar-yen exchange rate. We expect a benign macro environment to weigh on the Yen in the coming months. In a report on the 22nd, strategists including Kamaksha Trivedi predicted that the dollar-yen exchange rate would be around 155 yen, 150 yen, and 145 yen to the […]
Bond Market Braces for Hawkish Fed Message: Short Bets on US Treasuries Increase
Bond traders have been shorting US Treasuries and buying derivatives to protect against a sharp market downturn, given the risk that the US Federal Reserve could abandon expectations for interest rate cuts this year. The Federal Open Market Committee (FOMC) is almost certain to leave the policy interest rate unchanged at its meetings on the […]
US Banks Strategize Post-BTFP as Emergency Lending Program Nears End
In response to the regional bank crisis that occurred in 2023, an emergency lending system for banks was introduced for a limited period in order to resolve the crisis. With the end, Wall Street banks are looking for other ways to increase their financial strength. The Bank Term Funding Program (BTFP) was introduced in March […]
Federal Reserve Chairman Powell Stresses Confidence Needed Before Rate Cuts
Federal Reserve Chairman Jerome Powell reiterated that the central bank has no intention of cutting interest rates quickly until it is confident that the fight against inflation has been won. The Chairman will testify at a hearing of the House Financial Services Committee on the 6th at 10 am ET. In a pre-circulated manuscript, he […]
