Fidelity Top Stories
Citi sees UK inflation hitting 18% peak in January
Economists at Citi raised their forecasts for the peak in UK inflation to 18% in the wake of the additional 25% rally in UK gas prices and 7% rise in electricity costs over the previous week.
Fed will do what it takes to get inflation back to 2.0 per cent, Barkin says
The head of the Federal Reserve Bank of Richmond said that the US central bank would do "what it takes" to get inflation back down to 2%.
BofA strategists sound bearish note on stocks, say Fed 'nowhere near done'
BofA Securities strategists sounded a 'bearish' note on the outlook for equity markets arguing that the US central bank was not done and enumerating a list of reasons to back up their thinking.
UK public sector net borrowing jumps in July on higher debt servicing costs
Britain's public sector borrowed more than expected last month amid increased costs for servicing its debt and rising social assistance payments.
Fed's Bullard says he is leaning towards a 75bp rate hike at September meeting
A top US central bank official said he was leaning towards a 75 basis point interest rate hike at the central bank's next policy meeting.
Euro area July CPI confirmed at up by 8.9% on the year and 0.1% month-on-month
Revised data confirmed a modest rise in the cost of living in the euro area last month.
Philly Fed factory index improves in August
Manufacturing activity in the US mid-Atlantic region improved in August, the results of a closely-followed survey revealed.
ECB's Schnabel says euro area inflation outlook has not changed fundamentally
A top European Central Bank official said that the outlook for inflation in the single currency area had not improved.
Rhine water levels at Kaub set to recover over the weekend
Minimum water levels needed to navigate the Rhine river at a key choke point were expected to stage a partial recovery over the weekend.
ECB's Kazaks says inflation 'unacceptably high'
A top European Central Bank official predicted that the monetary authority would continue hiking interest rates.
Euro area Q2 GDP revised slightly lower, slowdown seen ahead
The euro area's economy expanded at a slightly slower pace than previously estimated over the three months to June, alongside steady growth in employment.
US industrial production grows by more than expected in July
US industrial production rose a bit more quickly than expect last month.
'Empire State' manufacturing index plunges in August
The Federal Reserve Bank of New York's regional manufacturing index surprised economists, registering its second-largest ever monthly fall - larger even than that in March 2020.
Rebound in growth stocks has 'somewhat further to go', JP Morgan says
It was too soon to rotate back into 'value' stocks from 'growth', strategists at JP Morgan said.
Investors moving back into credit, banks and technology catch a bid, BofA says
Investors moved back into credit and to a lesser extent into banking and technology stocks over the preceding week, BofA Securities strategists said.
US consumer confidence improves a bit more than expected in July, University of Michigan says
Consumer confidence in the US improved a bit more than anticipated last month, albeit from June's all-time record low.
US import prices fall by more than expected in July
The cost of goods in the US that were purchased overseas dropped more sharply than expected last month, dragged lower by a fall in imported fuel prices.
Fed's Daly tells FT it's too early to declare victory over inflation
A top US central bank official argued in favour of a 50 basis point interest rate hike at the next policy meeting, instead of a 75bp move, even as she cautioned that much was still left to do.
IHG profits double as travel rebounds from Covid curbs
InterContinental Hotels Group doubled interim profits, reinstated dividends and announced a $500m share buyback as travel demand increased after Covid restrictions eased.
US non-farm payrolls jump past forecasts in July
The US economy created far more jobs than expected last month pushing the unemployment rate a tad lower.