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Real-time News
2027 FOMC voting member and Richmond Fed President Barkin will speak on the economic outlook in ten minutes.On November 18th, Bank of England Chief Economist David Peale stated that he expects his view on interest rates to remain largely unchanged in the short term, noting that wage growth remains significantly higher than he considers to be in line with the inflation target. The Bank of England earlier this month decided to keep interest rates unchanged by a 5-4 vote, with Peale belonging to the majority who supported holding rates steady. Governor Bailey indicated that he might switch to supporting a rate cut at the December meeting, depending on subsequent data. When asked if his view on borrowing costs had changed since the Bank of Englands meeting earlier this month, Peale said he did not expect a significant shift in his opinion on interest rates. He also stated that policymakers should not place too much emphasis on short-term economic data, which is often considered noise, when assessing the speed at which inflationary pressures ease.U.S. House Speaker Boris Johnson said he would vote to release the Epstein Papers.November 18th - The much-delayed U.S. August factory orders report (originally scheduled for release on October 2nd) showed total orders rose 1.4% year-over-year, in line with initial expectations. Durable goods orders remained at the preliminary value of 2.9%, while non-durable goods orders dipped slightly by 0.1%. Factory orders excluding transportation rose only slightly by 0.1%. However, this report did not fully compensate for the data lag, as Septembers order data was supposed to be released on November 4th. Looking at the composition of the increase, the main driver was a surge of 21.8% in civil aircraft orders, contributing $4.2 billion to the total increase of $8.4 billion. Other transportation sector orders also performed strongly, with defense aircraft orders increasing by $1.2 billion to $6.7 billion and ship/boat orders increasing by $500 million to $4.7 billion. Durable goods orders excluding transportation rose moderately by 0.3%, marking the fifth consecutive month of increase. Machinery and equipment ($1.2% to $39.2 billion) and metal products ($0.7% to $41.5 billion) performed particularly well. In the non-durable goods category, most categories saw slight to moderate growth, but petroleum and coal products declined by 1.1% to $54.7 billion.Saab has proposed building the entire Global Eye aircraft in Canada.
