Eurozone PMI Composite Output Index was 49.1 in December to remain in the contraction zone according to IHS Markit press release. The contraction was for a second successive month and remained below the earlier flash reading of 49.8 despite improving from November's 45.3 level. Final Services Business Activity Index improved from November’s six month low of 41.7 to … [Read more...] about Eurozone Private Sector Contracted for a Successive Month in December-IHS Markit
Forex News
U.S 10-Year Treasury Yield Rises to 1%, the First Time Since March
U.S 10-year Treasury yield hit 1% for the first time since March in overnight trading on Tuesday, amid Senate runoff in Georgia, reports CNBC. The benchmark rate breached the key psychological level, while the yield on the 30-year Treasury bond also traded higher. After surpassing the 1% psychological level, analysts expect the 10-year Treasury yield to spend time in the … [Read more...] about U.S 10-Year Treasury Yield Rises to 1%, the First Time Since March
Oil Rises 4% on OPEC+ Output Talks, Iran Tensions
Oil prices rose more than 4% on Tuesday as OPEC+ neared a compromise to hold crude production steady in February, according to Reuters. The prices were also supported by tensions around OPEC member Iran's seizure of a South Korean vessel claiming the latter owed it $7 billion. Brent crude futures rose $2.15, or 4.2%, to $53.24 a barrel by 11:10 a.m. EST while the U.S. … [Read more...] about Oil Rises 4% on OPEC+ Output Talks, Iran Tensions
U.S. Records 3.2% Rises in Manufacturing PMI in December
U.S. December Manufacturing PMI registered 60.7%, up 3.2% from November reading of 57.5%, according to press release. The figure reflects an expansion in the overall economy for eight months in a row, offsetting contractions in March, April, and May. The New Orders Index was 67.9%, up 2.8% from November’s reading of 65.1%The Production Index was 64.8%, up 4% from … [Read more...] about U.S. Records 3.2% Rises in Manufacturing PMI in December
Danes Will Get 20-Year 0% Mortgages
Denmark is offering homeowners 20-year loans at a fixed interest rate of zero, according to Bloomberg. Customers at the Danish home-finance unit of Nordea Bank Abo can now get mortgages that carry a lower coupon than benchmark U.S 10-year Treasuries. In 2012, Denmark drove their main rate below zero to defend the krone's peg to the euro, and since then, homeowners have … [Read more...] about Danes Will Get 20-Year 0% Mortgages
