China economy: It's not just PMI Aside from manufacturing, markets need to consider labor market indicators like wages and productivity, warns George Hoguet, MD and global investment strategist at State Street Global Advisors.
Sterling trades above $1.52, but lags euro on soft UK data The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in China and said policies aimed at increasing demand were needed. It, however, underperformed the euro, weighed down by soft economic data that have pushed back market expectations of monetary tightening by the...
Portugal, Spain yields up as growth concerns erode post-election confidence LONDON, Oct 6- Portuguese and Spanish bond yields rose strongly on Tuesday as concerns about economic growth eroded the post-election confidence which brought yields in both countries down to five-month lows. A vote in Catalonia on Sept. 27 did not give pro-independence parties a clear mandate, and on Sunday Portugal's ruling center-right coalition won...
| By: Lisa Barrington
Sterling subdued as soft data pushes back BoE rate hike chances LONDON, Oct 6- Sterling slipped against the euro on Tuesday, weighed down by soft economic data that have pushed back market expectations of monetary tightening by the Bank of England towards the end of next year. A much weaker-than-expected reading of the services sector purchasing managers' index on Monday saw analysts cut forecasts for UK growth for the...
IMF doesn't see China doomsday scenario Doomsday scenarios of a hard-landing in China may have transfixed market watchers, but the International Monetary Fund remains relatively sanguine on the economic outlook.
| By: Leslie Shaffer
UPDATE 2-Sterling dips after UK services survey disappoints LONDON, Oct 5- Sterling sank against the dollar on Monday after a monthly survey of the services sector crushed any remaining market expectations that the Bank of England is likely to raise interest rates any time soon. "This has taken the pound properly lower," said Tobias Davis, a currency hedging manager at Western Union in London. Both currencies have gained...
| By: Patrick Graham
Europe closes sharply higher; Glencore jumps 17% European stocks accelerated gains into the close on Monday after a weak U.S. employment report dampened expectations that the U.S. Federal Reserve will start raising interest rates soon.
| By: Arjun Kharpal
Global business growth at weakest pace this year in Sept -PMI JPMorgan's Global All-Industry Output Index, produced with Markit, slumped to 52.8 in September from August's 53.9, its lowest level since December. "The latest PMI surveys point to a waning trend in global economic growth at the end of the third quarter, as rates of expansion softened in both the manufacturing and service sectors," said David Hensley, a director...