US unemployment benefit applications have decreased to their lowest level since January, suggesting a robust job scene that's bolstering the economy.
The Labor Department reported a drop of 20,000 in jobless claims last week, making the total 201,000, the closest it's been to the smallest number in over 50 years. On top of this, the number of people currently receiving unemployment benefits has dipped to 1.66 million, the smallest since this year began.
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The U.S. Federal Reserve decided not to change its interest rates but hinted they might increase them by the end of the year. Their projections suggest the benchmark overnight interest rate might peak between 5.5% to 5.75% this year, decreasing to 5.1% by 2024's end and 3.9% by 2025. They're hoping to lower inflation from 3.3% in 2023 to 2.5% in 2024 and then to 2.2% in 2025. They aim to reach a 2% inflation rate by 2026.
After these numbers came out, th...

The U.S. Department of the Treasury has shared Treasury International Capital Data for July. Here are the main takeaways:
1. Foreign Investments: The U.S. saw a total investment inflow of $140.6 billion from foreign entities. Such an inflow shows a positive sentiment among foreign investors towards the U.S. market, suggesting they see the U.S. as a stable or profitable place to park their money. Breaking it down:
- Private foreign investors br...

Yields on Japanese government bonds (JGB) have seen a significant surge after the Bank of Japan (BOJ) hinted at possibly ending its negative interest rate policy. This spike in yields is largely due to BOJ Governor Kazuo Ueda's recent interview. He suggested that if the bank nears its 2% inflation goal, we might witness rate hikes by the end of the year.
Attempting to manage the rising yields, the BOJ revealed plans to offer five-year loans to banks...

The U.S. saw a drop in first-time jobless claims last week, reaching its lowest point since February, signaling a persistent strength in the job market despite some data suggesting the other way round.
According to the Labor Department, initial unemployment benefits claims decreased by 13,000, settling at 216,000 for the week ending Sept. 2. This figure surpasses economists' expectations, who had predicted a rise to 234,000. Additionally, this marked the fourth consecutiv...

The U.S. services sector saw a boost in August, with businesses experiencing increased orders and higher input costs, suggesting persistent inflationary pressures.
Data from the Institute for Supply Management (ISM) on Wednesday announced that the non-manufacturing PMI (a measure of the service sector's health) jumped to 54.5 in August from 52.7 the previous month. This growth rate was the highest since February, signaling an expansion in the ...

The combined metrics of Japan's manufacturing and service sectors, known as the Composite PMI, rose to 52.6 in August, up from 52.2 in July. This indicates an eight-month streak of growth, as scores above 50 suggest expansion.
Meanwhile, in August, Japan's service sector witnessed its fastest growth in three months, driven largely by increased consumer spending and the return of international tourists.  This contrasts the challenges the manufacturing ...