Economy and Fed Watch

July 29th, 2010.

   Economy and Fed Watch
  • Fed Should Resume Treasury Purchases if Deflation Risk Grows, Bullard Says Federal Reserve Bank of St. Louis President James Bullard said the central bank should resume purchases of Treasury securities if the economy slows and prices fall rather than maintain a pledge to keep rates near zero.

  • Russia Sells Longest Ruble Bonds Since October as Yields Fall Russia sold its longest-maturity bonds since October as a quickening economic recovery lured investors to notes the government was unable to issue last week.

  • Jobless Claims in U.S. Declined by 11,000 to 457,000 The number of Americans filing first-time claims for unemployment insurance fell to 457,000 last week, a figure that signals the labor market will be slow to improve even as the economy grows.

  • European Union Rescue Fund Authorized to Sell Debt After Italy Backs Plan The European Union’s rescue fund for the single-currency region is now authorized to sell debt after Italy’s parliament approved the plan, putting into force a 440 billion-euro ($575 billion) backstop for the 16-nation economy.

  • Italy Approves Budget Adjustment Designed to Lower Deficit by $33 Billion
  • South African PPI Surges, Credit Rises, Reducing Chances of More Rate Cuts
  • Europe Economic Confidence Rises as Exports Improve North Korea, China Sign Agreement for Economic, Technological Cooperation U.K. Home Values Drop in July as Confidence Wanes.
  • Austerity Measures Loom Japan's Slower Production May Build Case for Stimulus Extension
  • Unemployment Falls in Germany for 13th Month as Companies Get Export Boost Germany's Dekabank
  • Forecasts Global Growth Will Slow in Coming 18 Months Vietnam's Debt Rating Lowered by Fitch on Foreign Borrowing, `Weak' Banks Lagarde Predicts Significant Pickup in World Growth Business Confidence Rises to Two-Year High on Growing Optimism on Orders

 

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