Disconnect will grow between Fed policy and yields

2018 ◽  
Keyword(s):  
Yield Curve ◽  
Content Type ◽  
Volatility Index ◽  
Bond Yield ◽  
Downward Pressure ◽  
The Us ◽  
Us Government ◽  
European Banks ◽  
Near Term ◽  
Price Distortions

Subject US market dynamics. Significance The flattening of the US government bond yield curve -- the process in which yields on short-dated bonds converge with, or exceed, those on long-dated debt -- is fuelling debate about monetary policy and the outlook for global growth, especially US growth given the determination of the Federal Reserve (Fed) to raise rates steadily. Financial markets fear the Fed is being overly hawkish, but price distortions and technical factors appear to be driving the flattening more than economic weakness. Impacts The VIX volatility index, Wall Street’s 'fear' gauge, is signalling near-term stability. The Bank of Japan’s July policy tweaking led to the sharpest 10-year bond yield rise in two years, highlighting fears of stimulus ending. The Fed is raising rates, but China is loosening policy to boost GDP amid rising trade costs, putting downward pressure on the renminbi. Turkish borrowers owe European banks nearly 170 billion dollars, half to Spain and over 35 billion dollars to France, worrying the ECB.

‘America First’ trade unravels as market risks mount

2018 ◽  
Keyword(s):  
Interest Rates ◽  
Yield Curve ◽  
Emerging Market ◽  
The United States ◽  
Content Type ◽  
Market Risks ◽  
Bond Yield ◽  
Downward Pressure ◽  
The Us ◽  
Technology Stocks

Subject Outlook for US financial markets. Significance Since October, the benchmark S&P 500 index has fallen by more than 5% as part of a broad-based sell-off of financial assets. Indications that the ‘America First’ inspired trade agenda is unravelling include concerns that rising US interest rates will dampen economic growth and corporate earnings, and a rout in technology stocks, the high-flying sector that powered the US equity rally from mid-May to late-September when US stocks significantly outperformed their European, Japanese and Emerging Market (EM) peers. Impacts Lower oil prices will extert downward pressure on inflation. Efforts by China and the United States to wean themselves off mutual dependence in tech could escalate, curbing the US tech stocks bull run. The first inversion of the bond yield curve since 2007, will fuel speculation that the Fed will slow monetary tightening. EM equities will remain volatile, despite have risen by nearly 9% since October 29, partly reversing their 2018 sell-off.

Tighter money conditions could cause multiple shocks

2018 ◽  
Keyword(s):  
Stock Market ◽  
Price Index ◽  
Yield Curve ◽  
Content Type ◽  
Financial Conditions ◽  
Downward Pressure ◽  
The Us ◽  
Technology Stocks ◽  
Multiple Shocks ◽  
International Investors

Significance Financial conditions have tightened markedly, sharply increasing international investors' sensitivities to market vulnerabilities. Impacts The US stock market is on its longest bull run according to estimates, but overvalued technology stocks could be at risk of correction. The Bloomberg industrial metal price index has fallen by 15%+ since early June; worries about slower China growth will keep prices lower. The US yield curve flattened the most in eleven years this week; Japanese and ECB stimulus is putting downward pressure on longer yields.

June summits signal progress on EU-US trade ties

2021 ◽  
Keyword(s):  
Corporate Taxation ◽  
Gas Pipeline ◽  
Security Technology ◽  
Content Type ◽  
Transatlantic Cooperation ◽  
The Us ◽  
Us Government ◽  
Nord Stream ◽  
High Level ◽  
Two Sides

Significance The two sides have suspended tariffs arising from their dispute over subsidies to Airbus and Boeing, are working on an international deal on corporate taxation and have established a high-level council to discuss issues at the nexus of security, technology and trade. Impacts A major aim of closer transatlantic cooperation is better coordination of policies with respect to China. Closer transatlantic cooperation over China might soften US opposition to the Nord Stream 2 gas pipeline. It will be difficult for the US government to pass legislation concerning trade given the Democrats' precarious majority in both houses.

The US battle against brand marketing: circa 1930-1980

2018 ◽  
Vol 10 (1) ◽  
pp. 60-85 ◽  
Author(s):  
Ross D. Petty
Keyword(s):  
Second World War ◽  
World War ◽  
Historical Sources ◽  
Content Type ◽  
Consumer Movement ◽  
Brand Marketing ◽  
The Us ◽  
Us Government ◽  
The Usa ◽  
Second World

Purpose The purpose of this paper is to examine the debate about brand marketing that occurred as part of the 1930s consumer movement and continued after the Second World War in academic and regulatory circles. Design/methodology/approach This paper presents an historical account of the anti-brand marketing movement using a qualitative approach. It examines both primary and secondary historical sources as well as legal statutes, regulatory agency actions, judicial cases and newspaper and trade journal stories. Findings In response to the rise of brand marketing in the latter 1800s and early 1900s, the USA experienced an anti-brand marketing movement that lasted half a century. The first stage was public as part of the consumer movement but was overshadowed by the product safety and truth-in-advertising concerns. The consumer movement stalled when the USA entered the Second World War, but brand marketing continued to raise questions during the war as the US government attempted to regulate the provisions of goods during the war. After the war, the public accepted brand marketing. Continuing anti-brand marketing criticism was largely confined to academic writings and regulatory activities. Ultimately, many of the stage-two challenges to brand marketing went nowhere, but a few led to regulations that continue today. Originality/value This paper is the first to recognize a two-stage anti-brand marketing movement in the USA from 1929 to 1980 that has left a small but significant modern-day regulatory legacy.

American Libraries and the US Federal Government: an overview of partnerships for enhanced resource access

2015 ◽  
Vol 29 (8) ◽  
pp. 2-6
Author(s):  
Bethany Latham
Keyword(s):  
Federal Government ◽  
Design Methodology ◽  
Government Agencies ◽  
Government Information ◽  
Digital Collections ◽  
Content Type ◽  
The Us ◽  
Us Government ◽  
Us Federal Government ◽  
Partnership Program

Purpose – This paper aims to explore the US Government Publishing Office’s (GPO) partnership program: what it is, how the GPO defines partnership, the types of institutions that are participating and the resources these institutions are making available through partnership. Design/methodology/approach – This paper reviews the available literature and information from the US GPO on its partnership program, examines the institutions contributing to the program and what those contributions entail, surveys the resources made available through these partnerships and examines how this affects access to government information. Findings – Partnership with the US GPO provides benefits to libraries, museums, government agencies and other entities, increasing discoverability and enhancing access to digital collections of government information and other resources. Originality/value – This paper examines the parameters of the US GPO’s partnership program, why libraries and other institutions might wish to partner with the GPO and the effect these partnerships have had on enhancing access to government information resources, an area that has not been extensively covered in library literature.

China-US summit yields more strains than gains

2015 ◽  
Keyword(s):  
Presidential Election ◽  
Personal Data ◽  
Content Type ◽  
The Us ◽  
Us Government ◽  
International Image ◽  
Economic Slowdown ◽  
Government Workers ◽  
The Impact ◽  
The Relationship

Significance Several recent strains in the relationship guaranteed a tense official dialogue and tepid reception of Xi across Washington -- the impact of China's economic slowdown on the US stock market, accusations of Chinese cyber theft of US government workers' personal data, and continued maritime tensions. Impacts China's climate change commitments will improve its international image, but will not reduce tensions on other issues. Washington will impose sanctions if it believes China is breaking the new cybercrime agreement. US politics ahead of next year's presidential election will put more strain on China-US relations. Dialogue on the South China Sea is unlikely to bear fruit while Washington's policy is undecided.

Remarkable global market stability is unlikely to last

2017 ◽  
Keyword(s):  
Financial Markets ◽  
Emerging Market ◽  
Global Market ◽  
Parliamentary Election ◽  
Far Right ◽  
Content Type ◽  
Volatility Index ◽  
Bond Yield ◽  
Bond Funds ◽  
Growth Prospects

Subject Financial market volatility. Significance A more dovish outlook for US monetary policy and the weaker performance of the far right in the Dutch parliamentary election have contributed to subdued volatility and risk aversion in financial markets. The Euro Stoxx 50 Volatility Index, Europe’s so-called ‘fear gauge’, measuring anticipated price swings in European equities, is close to a historic low. However, other gauges of sentiment, such as outflows from ‘junk-bond’ funds, suggest investors are increasingly concerned that markets are too frothy. Impacts Oil prices fell by 10% in March amid oversupply concerns, and further slippage would complicate OPEC talks on extending the output curbs. Emerging market equities have risen by 11.1% this year as dollar weakness and improving growth prospects lure investors seeking returns. The spread between France's ten-year government bond yield and Germany's remains close to a four-year high, highlighting Europe’s variation.

US charges designed to make Russia hacking irrefutable

2018 ◽  
Keyword(s):  
Democratic Party ◽  
Content Type ◽  
White House ◽  
Russian State ◽  
The Us ◽  
Us Government ◽  
Social Media Platforms ◽  
To Come ◽  
High Level ◽  
First Time

Subject The US indictment of Russian intelligence officers. Significance The latest indictment to come out of the investigation led by Special Counsel Robert Mueller is the most striking yet as it targets Russian state actors for the first time. It sets out charges of hacking into Democratic Party networks, stealing more than 50,000 documents and using them for disruptive purposes in the 2016 US presidential election. Despite the considerable level of detail in the evidence offered, the White House has yet to address publicly the issues raised or confronting Russia. Impacts US government, election software providers, parties and social media platforms will face pressure to prepare for the midterm elections. Detailed attribution of cyber interference will likely weaken the notion that perpetrators enjoy a high level of plausible deniability. Hackers will continue to employ 'spearphishing' for its simplicity, success rate and cost-effectiveness.

Canada asylum pressures may bring political friction

2018 ◽  
Keyword(s):  
United States ◽  
Federal Government ◽  
Asylum Seekers ◽  
The United States ◽  
Asylum Policy ◽  
Content Type ◽  
The Us ◽  
Us Government ◽  
Federal Politics

Subject Asylum-seekers and Canada. Significance After an uptick in asylum claims in recent months, including via the United States, asylum policy is likely to feature more heavily in Canadian state and federal politics. Impacts New migrant flows to Canada will likely be triggered as the US government reduces its grants of Temporary Protected Status. Quebec’s government will face off against the Ottawa federal government over responsibility for new migrant arrivals. Ottawa and Washington will likely eventually update the Safe Third Country Agreement, but this could require bargaining. Canada may invest more in border policing and associated technologies.

Taiwan will benefit from US-China friction

2018 ◽  
Keyword(s):  
North Korea ◽  
State Department ◽  
The State ◽  
Military Cooperation ◽  
Content Type ◽  
Opening Ceremony ◽  
Us Military ◽  
The Us ◽  
Us Government ◽  
At Home

Significance Taiwan-US relations got a symbolic boost when the US government opened a new 250-million-dollar institute to house the de facto embassy in Taipei, Taiwan's capital, on June 12. President Tsai Ing-wen, and a US delegation that included representatives from Congress and the State Department, attended the opening ceremony. It may have received greater attention and perhaps higher-ranking US representation had the first US-North Korea summit not been scheduled for the same day. Impacts Taiwan's president will be constrained from improving China ties by anti-China sentiment at home. More businesses could come under Chinese pressure as cross-Strait relations deteriorate further. Taiwan-US military cooperation will prompt more aggressive Chinese efforts to diminish Taiwan's standing and increase military intimidation.

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