Fidelity Top Stories
German October harmonised CPI jumps past forecasts
The cost of living in Germany jumped past forecasts unexpectedly in October.
US pending home sales fall at twice the expected rate in September, NAR says
A lead indicator for the number of home sale contract signings fell at roughly twice the expected rate last month.
US Q3 ECI rises as expected but private wage growth cools
A gauge of salary and benefits pressures in the US grew as expected over the three months to September, but only on account of the jump seen in the public sector.
Yen slips as BoJ stays put on policy at meeting
Rate-setters in Tokyo stood pat on monetary policy as expected, although according to analysts there had been some speculation over a potential shift in Yield Curve Control.
German Q3 GDP surprises, recovers to above pre-Covid levels
The euro area's largest economy defied market expectations for a contraction over the three months to September thanks to private consumption.
Professional forecasters raise 2022-24 CPI forecasts, slash that for 2023 GDP, ECB says
Professional forecasters bumped up their outlook for euro area inflation out to 2024 even as they anticipated a technical recession over the next few quarters, the results of a survey conducted by the European Central Bank showed.
ECB raises rates, expects further hikes
Rate-setters in Frankfurt went ahead with a 75 basis point interest rate hike but for some observers appeared to hint at the possibility of slower pace of tightening and refrained from any mention of quantitative tightening in its policy statement.
US durable goods orders grow in September, but details weaker
Orders for goods made to last more than three years grew more quickly than expected during the previous month, led by gains for orders of civilian aircraft and automobiles, but the details of the latest government data were much weaker.
US consumer confidence declines in October, weighed down by views on jobs market
Americans' views on the economy, jobs and inflation all soured more than expected in October, the results of a closely followed survey revealed.
UK manufacturing output declines slightly over three months to October, CBI says
Output from UK factories slipped slightly over the past three months, even as business sentiment dropped at the fastest rate since the start of the pandemic, the results of a closely followed survey revealed.
France, UK and US reiterate support for Ukrainian defence for as long as it takes
The foreign ministers of France, the United Kingdom and the United States reiterated their support for Ukraine's sovereignty and territorial integrity and discussed their determination to continue supporting Kyiv's efforts to defend its territory for as long as it takes.
FCA fines Barclays £50m over 2008 Qatar deal
Barclays has been fined £50m by the City watchdog over its “reckless” conduct during a fund raising at the height of the 2008 financial crisis.
UK PM Truss resigns, Tory leadership vote to take place next week
UK Prime Minister Liz Truss resigned on Thursday, caving in to days of pressure as her 44-day-old premiership imploded in a debris field of policy u-turns, sackings and financial market collapses.
BoE's Broadbent questions financial markets' expectations for rate hikes
A top Bank of England official called into doubt financial markets' expectations for interest rate hikes.
Fed Beige Book reports caution on economy, signs of easing inflation
The Federal Reserve's district banks reported increased caution on the part of economic agents when it came to the outlook for the country's economy and some signs that inflation was easing.
Barclays closes out 'underweight' on FTSE 250, domestic medium-cap stocks
Analysts at Barclays Research closed their 'underweight' recommendation on the FTSE 250 and medium-capitalisation/domestic stocks, arguing that the then current valuation multiples offered "good" risk-reward.
Chancellor warns UK faces tough choices on spending and taxation
The new Chancellor has warned that the country faces difficult choices when it comes to tax and spending policies.
Bank signals readiness to extend bond buying if needed - FT
The Bank of England may extend its backstop programme for the UK government bond market past its 15 October deadline, the Financial Times reported, citing people briefed on the discussions.
US small business confidence edges past forecasts in September, NFIB says
Small business confidence in the US edged higher last month as expectations for sales improved on the back of falling gas prices, the results of a closely followed survey revealed.
US non-farm payrolls expand by 263,000 in September
The US jobs market continued generating jobs at a steady pace last month.