November 22, 2022 United States: Fed Hawkishness Peaks as Rising Debt Payments Erode Savings Tighter Federal Reserve policy is raising households’ interest-rate burden, leading to a rapid decline in excess savings and underscoring the likelihood hawkishness has peaked. The pandemic rise in excess savings was probably the most rapid increase in wealth ever seen.
November 21, 2022 United States: Fund Managers Are Turning Ever More Pessimistic on the US Dollar Asset managers are turning ever more bearish on the dollar amid bets that the Federal Reserve may be approaching the peak of its interest-rate hike cycle. Investors boosted short positions on the reserve currency to 321,758 contracts last
November 18, 2022 Despite the downward trend of the key external drivers of headline inflation, BOJ has not yet observed the full pass-through to domestic food prices. In October, Jamaica’s inflation rate increased from 9.3% in September to 9.9%. If inflation expectations, the ripple effect of commodity price shocks and labour market pressures, do
November 18, 2022 United States: Wall Street Economists Split on Whether Fed Cuts Rates in 2023 Wall Street’s biggest banks agree the Federal Reserve will hike US interest rates further into next year, but are at odds over how high it will take them and whether it will be cutting by the end of
November 17, 2022 United States: Fed’s Bullard Says More Hikes Needed to Get to Restrictive Level Federal Reserve Bank of St. Louis President James Bullard urged policymakers to raise interest rates further, saying the level will need to be higher to meet the central bank’s goal to be “sufficiently restrictive” to bring down inflation.
November 16, 2022 JETCON for the nine months ended September 30, 2021 reported total turnover of $606.95 million, 30% greater than $467.16 million reported for the corresponding period in 2020. Turnover for the third quarter increased 28% to $196.42 million compared to $153.43 million in 2020. Cost of Sales for the period increased 33%
November 16, 2022 Figures are quoted in United States dollars (except where it is indicated otherwise): Proven Investments Limited (PROVEN), for six months ended September 30, 2022 reported net interest income of $6.53 million (2021: $2.01 million), a 225% improvement year over year. For the quarter, it increased 259% to $3.81 million (2021: $1.06
November 16, 2022 GWEST Corporation Limited (GWEST), for the six months ended September 30, 2022 reported revenue of $87.13 million (2021: $72.96 million), an increase of 19% year over year. For the quarter, it totalled $43.70 million (2021: $41.97 million), a 4% increase year over year. Management noted that the upward movement was “mainly
November 16, 2022 United States: US Mortgage Rates Drop Below 7% in Biggest Decline Since July US mortgage rates fell last week by the most since the end of July, slipping below 7% and helping generate a bounce in purchase applications that otherwise remain depressed. The contract rate on a 30-year fixed mortgage decreased
November 15, 2022 JMMB Group Limited (JMMBGL) for the six months ended September 30, 2022, booked net interest income of $5.70 billion (2021: $5.82 billion), a decline of 2% year over year. For the quarter, it declined 6% to close at $2.79 billion (2021: $2.96 billion). Of the six-month net interest income: Interest income
