Beneath the U.S. bond markets' composure around the prospect of White House economic adviser Kevin Hassett becoming the next Federal Reserve chair lies a niggling worry that his bias for interest rate cuts will undermine the dollar.
Read more …
Fed: Job Market Weakening, Spending Declining
U.S. economic activity was little changed in recent weeks, though employment was weaker in about half of the Federal Reserve's 12 districts and consumer spending declined, the U.S. central bank said Wednesday.
Read more …
Divided Fed Sparks Surge in Rate Options Hedging
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions and derivatives tied to overnight rates, with investors seeking protection against heightened policy uncertainty.
Read more …
Unemployment Claims Fall Amid Minimal Layoffs
The number of Americans applying for unemployment benefits declined last week in a sign that layoffs remain low, even as several high-profile companies have announced job cuts.
Read more …
US Core Capital Goods Orders, Shipments Soar
New orders for key U.S.-manufactured capital goods surged in September and shipments of these goods increased solidly, cementing economists' expectations that economic growth accelerated in the third quarter.
Read more …
Hassett Emerges as Frontrunner for Fed Chair
White House National Economic Council Director Kevin Hassett has moved to the front of the pack in the search for the next Federal Reserve chair, people familiar with the process tell Bloomberg.
Read more …