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September 6, 2024

Bolivia inflation nears decade-high in August

Bolivian inflation hit its highest level in nearly ten years, data from the South American country's national statistics office INE showed on Friday, hitting a 12-month rate of 5.19%, with a monthly increase of 1.58%. Annualized inflation last exceeded current levels in February 2015 while the monthly price rise last surpassed this level over 13 years ago in February 2011, according to central bank data. INE director Humberto Arandia told a press conference that prices had gone up in staples such as rice, as well as chicken, tomatoes and other items.

September 6, 2024

'The time has come': Why the August jobs report keeps the Fed on track for a 25 basis point rate cut

A rebound in the job market in August that still showed signs of cooling is likely to keep the Federal Reserve on track to cut interest rates by a quarter percentage point this month.

September 6, 2024

Economic worries back on Wall Street's radar after jobs data

NEW YORK (Reuters) -Uncertainty over the U.S. economy's health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs data showed labor market momentum slowing more than expected, suggesting a narrower path for the U.S. to achieve a soft landing, in which the Fed is able to cool inflation without badly damaging economic growth. The Fed is expected to cut interest rates at its Sept. 17-18 meeting, but the data revived fears that months of elevated borrowing costs have already started to pressure the economy.

September 6, 2024

Traders Are Split on Scale of Cuts Before Fed Kicks Off Easing

(Bloomberg) -- Investors in the US Treasury market are divided on whether the Federal Reserve will opt for a supersized interest-rate cut later this month — though they still expect the central bank to imminently kick off its easing cycle.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on Campu

September 6, 2024

Wall Street Traders Suddenly Converge on Economic Hazards Ahead

(Bloomberg) -- For those on Wall Street clinging to the bull case on the economy, life is getting harder.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainTroubling data – long foretold in the bond and commodity markets – woke traders ac

September 6, 2024

Hedge Funds Slash Bets on an Oil Rally to Lowest Ever Amid Rout

(Bloomberg) -- Hedge funds turned the least bullish on crude in records going back more than 13 years on the prospect of swelling supplies and waning demand.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainMoney managers decreased their

September 6, 2024

Newest Jobs Data Fail to Resolve Fed Debate Over September Cut

(Bloomberg) -- The latest snapshot of the US labor market left open the possibility the Federal Reserve will go big as it begins cutting interest rates, though two key officials on Friday stopped short of endorsing such a move at their meeting this month.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Bui

September 6, 2024

France’s Barnier Indicates Tweaks to Macron’s Economic Policies

(Bloomberg) -- France’s newly appointed prime minister, Michel Barnier, indicated he’s willing to make minor changes to President Emmanuel Macron’s economic policies that don’t compromise efforts to curb rising public debt.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusHow Americans Voted Their Way Into a Housing CrisisRome May Start

September 6, 2024

US Gulf Coast-bound fuel oil cargoes hit 5-yr low as refinery demand weakens

Fuel oil exports bound for the U.S. Gulf Coast slumped to their lowest level since January 2019 last month, a sign of weakened refinery demand as margins have softened, analysts said. Feedstocks like high sulfur fuel oil and other heavy residues can be refined into higher value products such as gasoline and diesel using secondary units. But loadings of those products to the Gulf Coast, America's largest refining hub, fell by a third in August from the prior month to 260,000 barrels per day (bpd), according to data from ship tracker Kpler, marking a more than five-year low.

September 6, 2024

Summers Says Jobs Weakness Makes It Closer Call on Fed Going 50

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that while the August employment report wasn’t particularly poor, it did make predicting the size of the Federal Reserve’s likely interest-rate cut this month a tougher call.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainM

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