Month: September 2013

Retail fee details are out on Verizon Communications Inc’s $12 billion in term loans. A source said the loans consist of a $6 billion, three-year term loan and a $6 billion, five-year term loan. The loans launched at a bank meeting today.

Verizon Communications launched a $49 billion eight-tranche bond that will partly finance its $130 billion buyout of its wireless operations Verizon Wireless from Vodafone, setting a new record for the largest ever corporate bond.

The beginning of the end of the Federal Reserve’s determined support for the U.S. economy is expected to come next week when top officials gather for one of the most highly anticipated meetings since the end of the Great Recession Despite a lackluster August jobs report, the U.S. central bank will probably reduce its bond-buying program from the current $85 billion per month, given the progress the economy has made over the last year.

The U.S. derivatives regulator published a long-awaited discussion paper on computerized trading, a first step to what could become new rules for a sector often blamed for market disruptions. Seeking public comment on more than 100 topics, the Commodity Futures Trading Commission is working closely with the industry as it looks to adapt its rule-book to new technologies such as ultra-fast trading.

Finance minister George Osborne says Britain’s ecoomy has turned a corner, vindicating his austerity programme. But as David Pollard reports some question the strength of the recovery.

Britain’s finance minister George Osborne says the economy is turning a corner as a result of the government sticking to its guns with its package of austerity. (ROUGH CUT – NO REPORTER NARRATION).

Italy’s Monte dei Paschi di Siena will seek 2.5 billion euros ($3.3 billion) in fresh capital from investors to shore up its finances, an amount that is more than double its original plan and makes nationalisation more likely should the cash call fail. Sonia Legg reports

Japan’s economy expanded much faster than initially expected in the second quarter, adding to growing signs a solid recovery is taking hold and heightening the case for Prime Minister Shinzo Abe to proceed with a planned sales tax hike next year.

US Dollar up vs Euro, Yen, Franc last week, down vs Pound, Aussie, Kiwi & Loonie – Week Ahead features NZD rate decision, US retail sales

The US dollar was mixed last week against the other major currencies in forex trading as the American currency was higher for the week against the euro, Swiss franc and the Japanese yen while losing ground against Canadian dollar, Australian dollar, British pound sterling and the New Zealand dollar.

This week’s economic calendar is much lighter than last week with only a few major economic releases due out. Early in the week, there is important data out of China on new yuan loans and consumer prices for August. In the middle of the week, there is an interest rate decision from the Reserve Bank of New Zealand with market expectations looking for the bank to hold its interest rate at 2.50 percent. Later in the week, we have employment data out of Australia for August, the European Central Bank publishes its monthly report and finally, on Friday, retail sales data for the United States as well as the University of Michigan confidence survey are released.

Please See the week’s highlighted economic events below:

This Week’s Economic Highlights:

Sunday, September 8

China — trade balance
Japan — GDP report
Japan — trade balance
Japan — bank lending

Monday, September 9

China — loan data
China — consumer price index
China — producer price index
Australia — home loans
Switzerland — employment data
Japan — consumer confidence
Switzerland — retail sales
Canada — building permits
euro zone — investor confidence
United States — consumer credit

Tuesday, September 10

Australia — NAB business confidence
China — industrial production
China — retail sales
euro zone — Italy GBP report
Canada — housing starts

Wednesday, September 11

Australia — Westpac consumer confidence
euro zone — Germany CPI
United Kingdom — jobless claims
New Zealand — interest rate decision
Japan — foreign bonds/stocks buying
Japan — machine orders

Thursday, September 12

Australia — employment data
euro zone — European central bank monthly report
euro zone — industrial production
Canada — new housing Price Index
United States — weekly jobless claims
United States — monthly budget
New Zealand — manufacturing performance

Friday, September 13

Japan — industrial production
New Zealand — ANZ consumer confidence
United States — producer price index
United States — retail sales
United States — U. Michigan consumer confidence
United States — business inventories

Article by CountingPips.com

Australia’s conservative opposition swept to power, ending six years of Labor Party rule and winning over a disenchanted public by promising to end a hated tax on carbon emissions, boost a flagging economy and bring about political stability. (Sept. 7)