Category: Headlines
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US Unit Labor Costs Prelim * (Q1) 6.3% vs. Exp. 5.5% (Prev. 3.2%, Rev. 3.3%)
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US Initial Jobless Claims w/e 242k vs. Exp. 240.0k (Prev. 230.0k, Rev. 229k)
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Fed Chair Powell (Q&A): Says decision on a pause was not made today, statement change today was meaningful today, will be driven by incoming data and meeting my meeting
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Fed Chair Powell says we will take a data dependent approach to determine extend of further rate hikes
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Fed Chair Powell says activity in housing sector remains weak, labour market remains very tight, there are some signs that supply and demand in labour market are coming back into better balance, nominal wage growth has shown some signs of easing
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Fed Chair Powell says focus remains on dual mandate, we are committed to bringing inflation back down to 2%
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Federal Reserve hikes rates by 25bps to 5.00-5.25% as expected, opens door to rate hike pause, drops language it anticipates more policy firming may be appropriate to attain sufficiently restrictive stance
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US ISM N-Mfg PMI (Apr) 51.9 vs. Exp. 51.8 (Prev. 51.2)
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An unknown drone has crashed in the vicinity of Kolomna, Moscow Region, according to Mash cited by Faytuks Earlier, the Russian Kremlin said it foiled a drone attack on President Putin’s presidential residence. Subsequently, Russia said Moscow reserves the right to take retaliatory measures as it deems appropriate in response to the attempt to target the Kremlin, according to Sky News Arabia
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Regional banks plummeting as short sellers circle, weighing on market, lifting Treasuries