Markets
Yellen Deflects Question on Whether She Would Stay on at Fed
Starting "once normalization of the federal funds rate is well under way", the Fed will reduce its balance sheet by $6 billion in Treasury securities each month, rising in steps of $6 billion until it is rolling off $30 billion every month. [Full Article...]
El Paso Electric Company (EE) Stake Increased by Chartwell Investment Partners LLC
Shares for $87,186 were sold by Sandberg Rebecca B . Moreover, Ashford Capital Management Inc has 3.6% invested in the company for 104,179 shares. Us Bancorp (New) now has $89.37B valuation. 19,104 were reported by Ipg Advsrs Lc. Institutional investors own 78.86% of the company's stock . Viacom Inc. had 80 analyst reports since August 7, 2015 according to SRatingsIntel. [Full Article...]
Fed poised to hike rates for 2nd time this year
Economic activity has "been rising moderately so far this year", household spending has "picked up" and and hiring remains "solid", the Fed said . This makes no sense at all and likely will have to be revised in September, by which point it might be just 4.0%, well below the Fed's 4.6% Nairu [non-accelerating inflation rate of unemployment] estimate, down 0.1pp from March. [Full Article...]
Fed cuts inflation, unemployment rate forecasts
Fed officials said "realized and expected labor market conditions and inflation justified the hike, which was supported by all Federal Open Markets Committee (FOMC) members but Minneapolis Fed President Neel Kashkari". The STOXX 600 index fell 0.3 percent with the banks, whose lending business gets a boost in margins when rates rise, taking off most points from the pan-European index with a fa... [Full Article...]
Lonzo Ball pokes fun at his father in Foot Locker commercial
Father's Day is coming up. The real question is... would Foot Locker be able to retail Lonzo's $500 shoes? "We are proud to have made a tradition of working with top athletes to have fun with some of the biggest sports moments and trending news", says Stacy Cunningham, vp-brand marketing and services for Foot Locker North America. [Full Article...]
Wisma Putra: No Malaysians involved in London fire
The deadly fire that tore through Grenfell Tower in Notting Hill broke out a little after midnight local time, while most people were tucked in bed for the night. The area neighbours the wealthy district of Notting Hill. While St Clements Church in Treadgold St has been turned into an evacuation centre to support Grenfell Tower residents who have managed to escape the blaze. [Full Article...]
Fed raises rates and outlines balance sheet reduction plan
But the market will always care about the central bank and its decisions about interest rates. So far, Trump has sent conflicting signals about whether he plans to nominate her for a second term. The yield on the 2-year Treasury note, the most sensitive to changes in Fed policy, trimmed earlier decline and was recently down 3 basis points to 1.34%. [Full Article...]
Talks on DUP support for minority UK govt, to continue
There have been reports the deal could even be delayed until the start of next week because of existing diary commitments for Theresa May and Arlene Foster. I can't negotiate with myself". "All options are back on the table", Stephen Barber, associate professor of public policy at London South Bank University, told AFP. [Full Article...]