PA ANALYSIS: Weak inflation casts uncertainty over USA rate rises
16 July, 2017, 01:17 | Author: Yolanda Murray
In early trading, USA 10-year yield fell to 2.308 percent, from 2.331 percent before the data.
In a separate report, the Commerce Department said retail sales fell 0.2 per cent last month, weighed down by declines in receipts at service stations, clothing stores and supermarkets.
As Societe Generale strategist Kit Juckes told Bloomberg: "If we trundle along with the current level of inflation, the Fed won't stop slowly raising rates, but they won't be in any hurry".
Their implied view fell to 47 percent shortly after the release of the latest CPI and retail sales data. The Russell 2000 index of smaller-company stocks inched up 0.1 percent to 1,425.66.
The Fed's preferred measure of inflation has been slipping. Andy Kiersz Business Insider
Just last month, the US central bank raised interest rates for a second time in 2017, downplaying the weakening in price growth amid one-time factors. The Australian dollar rose 1.22 percent to $0.7823, well on track to post its best weekly performance in four months.
Weak auto sales, which have been down in the first half of 2017, were not to blame this time: excluding that volatile category, sales were still down 0.2 percent.
Asian shares steadied on Wednesday after Wall Street managed to weather a fresh twist in the political controversy surrounding U.S. President Donald Trump's administration, while investors looked ahead to Federal Reserve Chair Janet Yellen's comments later in the day.
Ahead of Fed Chair Yellen's testimony to Congress on the state of the US economy from 1400 GMT, two of her colleagues cited low wage growth and muted inflation as reasons for caution on further interest rate increases. That followed a report that the European Central Bank is likely to signal in September that its asset purchase programme will be gradually wound down next year.
The kiwi was battered early in the week by disappointing domestic data but gained sharply toward the end of the week amid speculation the Reserve Bank may be more inclined to hike interest rates in the face of increases and bullish talk from other central banks including the Bank of Canada.
The Dow Jones Industrial Average .DJI rose 84.65 points, or 0.39 percent, to 21,637.74.
But Dr Yellen added that monetary policy was not on a preset course, and that the Fed was "watching this very closely and stands ready to adjust our policy if it appears the inflation undershoot appears consistent". The two-year note fell to 1.347% from 1.363% at yesterday's close, and the 30-year fell to 2.892%.
Oil prices held firm after strong gains on Tuesday on reports showing cuts in USA oil production and declines in US crude and European product stockpiles.
Brent crude futures, the worldwide benchmark for oil, settled up 49 cents at US$48.91 per barrel.
OIL: Benchmark U.S. crude gained 7 cents to $46.15 per barrel in electronic trading on New York Mercantile Exchange. Rental costs rose, with owners' equivalent rent of primary residence increasing 0.3 per cent after advancing 0.2 per cent in May.
A 20-year-old man was arrested Wednesday on charges of trying to sell a auto belonging to one of the missing men. He was held on a $ 1 million bond in that case and was released after his parents posted $100,000 cash bail.
Former president Jimmy Carter and his wife Rosalynn have volunteered with Habitat for Humanity for more than 30 years. One of those came Thursday evening from another ex-president, Bill Clinton. "Thinking of Jimmy Carter today".
As a result, the United States authorities barred Russian access to the two Moscow-owned "recreational compounds". Moscow last month abruptly cancelled the last scheduled meeting between Shannon and Ryabkov after the U.S.
Communist Party mouthpiece Global Times said in an English editorial that Mr Liu was "a victim led astray" by the West. Geng said China has lodged formal protests with the United States, Germany and the United Nations, among others.
Residents were instructed to gather their belongings and make arrangements to leave at a moment's notice, said the broadcaster. The Northwest fire centre has remained quiet with only eight of the over 200 fires burning across the province now .
A series of strong thunderstorms may dump more heavy rainfall over the Stateline, resulting in flash flooding in some areas. Forecasters say one or more rounds of thunderstorms are expected into late Wednesday night along and north of USA 30.
She also has " if you say so " on her ribcage which she revealed were his last words to her after she said, "I love you more". Lea Michele shared a special message about Cory Monteith on the four years following his death.
Most significantly, the bill would empower Congress to block steps by the Trump administration to soften or lift those penalties. The legislation, however, has stalled in the House as the administration works to soften the congressional reach.
Tiffany rose 1.9 percent as it named Alessandro Bogliolo, a veteran of the luxury industry, as its chief executive. Delta Air Lines fell 1.8 percent after reporting a 20.8 percent drop in second quarter earnings to $1.2 billion.
James says two main impact areas are separated by a mile, but smaller debris is scattered more widely. The plane crashed into a soybean field in LeFlore County and killed 15 Marines and one Navy sailor.
Sources said the attack was planned at a short notice when the bus halted for an hour due to a flat tyre and a mechanical snag. He added, "Militancy is going to outlive its life soon, we are in the last phase of militancy". "The yatra will continue".
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