Fed may not tighten credit until next year, experts say

first_img“The Fed continues to expect a December hike, as signalled by its dots chart,” he said.“However, there were otherwise doveish elements to (the) announcement, including a lowering of short-run growth and inflation forecasts and long-term growth, unemployment and the Fed funds rate projections.”He said AXA IM believed the FOMC was likely to hike in December, particularly if the Q3 employment cost index shows some signs of revival.“In the interim, we expect speculation to rise that the Fed will not tighten policy this year,” he said.In a global research report, Bank of America Merrill Lynch said the Fed’s decision was about as doveish as it could be for equity investors, with the committee members having committed to watch international developments.“Similar to deferral of Fed tapering in 2013, we see this as supportive to equities given the de-risking already undertaken,” it said.Peter O’Flanagan, head of foreign exchange trading at ClearTreasury, also noted the way the Fed statement referred to worries about the slowdown in the external environment.“Previously, the Fed had indicated it would be focused on the domestic economy when making decisions around rate hikes, but things have certainly changed,” he said.“Now, it is looking at events in China and other emerging markets and their potential impact on global growth.”Although the Fed maintained it still expected to hike this year, O’Flanagan said December was the only real possibility for this to happen.He said he saw the first quarter of next year as a more realistic target.Lee Ferridge, head of North American macro strategy at State Street Global Markets, said the Fed’s international focus had increased the importance of dollar strength, with the US currency being “the doorway by which the global economy affects the domestic one.”“Now it’s a waiting game again, and every upcoming meeting is on the table so long as data and conditions can justify a move,” he said.“However, there is no guarantee the conditions will be satisfactory ahead of the end of 2015.”Meanwhile, Rick Rieder, CIO of fundamental fixed income at BlackRock, said there were strong signals that a rate hike before the end of the year was very probable.Rieder said the timing of the next increase was much less important than the pace of credit tightening, and that the Fed had already said it would be measured in its approach.“It is very clear the Fed’s monetary policy this upcoming cycle will be nothing like the historic tightening cycles of the past in terms of the consistency of movement at each meeting, or the long-term trajectory of significant rate rises,” he said.Felix Wintle, head of US equities at Neptune Investment Management, also said he expected a rate cut this year.“At Neptune, we are still confident the Fed will raise rates in 2015 and believe December is now the most likely time for this,” he said.Even though the language accompanying yesterday’s decision was doveish, rate rises may come quicker than the market expects, he said.Rising rates will change the investment landscape, he said, with a rising rate environment creating winners and losers among sectors and stocks.“This is because, as interest rates rise, so does the cost of capital – i.e. the cost of credit to corporates,” he said.He said this spelled trouble for companies relying on raising capital to run their business and those that were highly geared.At Amundi, Philippe Ithurbide, global head of research, strategy and analysis, and Bastien Drut, head of strategy and economic research, saw December as the most likely time for the FOMC to make its first rate hike.“But it will stay in very gradual mode and, at the most, tighten by 25 basis points per quarter,” they said.Robeco’s chief economist Léon Cornelissen said that, if the economic climate remained favourable, the most likely scenario was for the Fed to make a first modest rate hike in December, followed by an explanatory press conference by Yellen. The US Federal Reserve’s decision yesterday to hold its key interest rate at zero, coupled with its cautious comments and new focus on the possible impact of external factors, means the cost of central bank credit may stay put until next year, according to asset managers and economists.Although most expected a rate rise to happen in December, many analysts also scrutinised comments by Fed chair Janet Yellen following the decision, which were seen as indicating a more doveish attitude to raising interest rates, as well as a downward revision in its long-term rate outlook.At its meeting yesterday, the Federal Open Market Committee (FOMC) left the Fed funds rate unchanged at 0.00-0.25%.At AXA Investment Managers (AXA IM), senior economist David Page said it was important the Fed lowered its long-term rate outlook to 1.8-2.2% from 2-2.3%.last_img read more

Dave West Indian Exports Guy-NY partners with GCB for U-15 Championship

first_imgDUBBING the event as an integral step towards the development of the next generation of cricketers, the Guyana Cricket Board (GCB), in collaboration with Dave West Indian Exports Guy-NY, launched the 2017 edition of the GCB Under-15 Inter-County tournament yesterday at the GCB’s boardroom.The one-day competition is of utmost importance to the GCB as it is being used by the junior selectors to formulate the Guyana team for the West Indies Cricket Board’s (WICB) Regional Under-15 competition later this year.At a simple launch, representative of the business entity, Cliff Joseph, presented the sponsorship cheque and trophies to executives of the board.However, prior to the handing-over ceremony, GCB’s Territorial Development Officer, Colin Stuart, indicated that the tournament plays a huge role in identifying future stars. Stuart, the former Guyana and West Indies fast bowler also pointed out that the sponsorship will go a long way in assisting the continued success at the Under-15 level.Meanwhile, secretary of the GCB, Anand Sanasie stated that the GCB is extremely grateful to have Dave West Indian Imports on board for a second consecutive year.Joseph said his company is pleased to partner in the development of cricket, especially at the youth level.As was the case last year, a President’s XI team has been included in the tournament, increasing the number of teams to four.With the unpredictable weather pattern, the GCB has identified March 14 as a tentative date for the commencement of the tournament, with Ogle, Enmore and Police as the venues shortlisted. (Rajiv Bisnauth)last_img read more

The Council of Ministers of B&H to help the Basketball Federation of B&H with 100.000 BAM

first_imgThe basketball national teams of B&H are these days stringing exceptional successes and bringing joy to many BH fans. As confirmed by the Minister of Civil Affairs of Bi&H Adil Osmanovic, this Ministry, i.e. the Council of Ministers of B&H, reached a decision to help the Basketball Federation of B&H with 100.000 BAM and to thus partially overcome the difficult financial situation in which this federation found itself.Igor Stojanovic, the director of the basketball national teams whom there are currently seven, said yesterday that the successes of the BH basketball players are the result of the work of the Basketball Federation of B&H, that has been bringing together the best young basketball players from all parts of B&H for the past four years.Stojanovic said that some institutions stand behind these yound people, but not those who should, especially referring to the Council of Ministers which should, he stated, allocate the funds for the state national teams. Due to this, the state basketball national team relies on other levels of authority.Adil Osmanovic, the Minister of Civil Affairs of B&H, said that he is aware of the problem in which the Basketball Federation of B&H is, as well as the other sports federations at the state level, adding that they are trying to provide solutions for them.“Some 15 days ago, The Ministry of Civil Affairs of B&H launched the initiative to allocate some funds from the budget reserve for the Basketball Federation of B&H, but also for the Olympic Committee of B&H. The means in the amount of 100.000 BAM will be allocated for each, and the Council of Ministers of B&H has already adopted this decision, and it is just being waited for it to be published in the Official Gazette of B&H”, said Osmanovic.Osmanovic added that the Council of Ministers of B&H will consider some other options to help the Basketball Federation of B&H, which has been achieving superb results.“In my opinion, the Council of Ministers of B&H should allocate even greater financial resources for the federations at the state level in the budget for 2016”, Osmanovic said.(Source: klix.ba)last_img read more

GPHC out of malaria medication

first_imgGuyana’s premier health institution, the Georgetown Public Hospital Corporation (GPHC) has run out of medication to treat malaria.Georgetown Public HospitalThis was confirmed by the Public Health Ministry’s Public Relations Officer, Terrence Esseboom, who said that the hospital’s main pharmacy is out of the medication to treat the mosquito-borne disease.The confirmation of the shortage of malaria medication was made after this newspaper contacted the Ministry regarding a patient who was diagnosed with malaria but was not given any medication at the health facility.When this publication visited the health institution, the patient, who has been shivering with high fever for the past four days, revealed that the doctors informed him that the hospital does not have any medication to treat him for malaria.The male patient said he is being treated with injections to control his fever, however, he does not know when he will be able to leave the hospital. The man added that he longs to be at home, reunited with his family.Guyana Times observed that the patient’s lips were cracked and pale as he complained of feeling weak. But even as the hospital awaits the medication, the Vector Control Services, which is a stone’s throw away from the main hospital, has the drug to treat malaria.“What I learnt is that they don’t have that medication in the main pharmacy but I can’t confirm whether there is any at the clinic. The clinic might have the medication. I know at the Vector Control Services there is medication there because I just spoke with the person in charge and they have medication so I don’t know why, if he is in the ward, why they didn’t get [drugs] because the Vector Control Services said that they have in stock but there was none in the main pharmacy,” the PRO said.He added, “…right next door to the place [hospital] is the Vector Control Services and the doctor said they have, so all they have to do is ask if they want in the case they run out,” he added.Malaria is a mosquito-borne disease which can lead to death. The disease is transmitted through the bite of an infected female Anopheles mosquito. Due to the fact that the malaria parasite is found in red blood cells of an infected person, malaria can also be transmitted through blood transfusion, organ transplant, or the shared use of needles or syringes contaminated with blood.Malaria can be cured once treated with the right drugs. Affected persons will experience shaking, high fever, profuse sweating, headaches, nausea, vomiting, abdominal pain and diarrhoea among others.last_img read more

PURE WHITE SEAL SPOTTED ‘CHILLING’ ON THE ROCKS

first_imgSnowball the seal catching a few rays with his mate in Dungloe Bay yesterday.Local Burtonport fisherman Danny Breslin captured this snap of two seals ‘chilling’ on the rocks in Dungloe Bay, with one of the seals being completely white.Danny who has fished in the area for years, said he regularly spots seals during his fishing trips, but said he’d never seen a white seal before.Danny told Donegal Daily, “I’d see seals quite a bit around the bay, so I was surprised when I seen a completely white one. “He seemed happy enough to pose for the snap, and in the picture it looks like he’s trying to wave to me.Fisherman Danny also revealed he’s now affectionately nicknamed the seal ‘Snowball’.“I’ve decided to call him snowball, and I hope I see him again when I’m out fishing next.“On the day I took the picture it was really warm, so I’m sure Snowball was just up on the rocks trying to catch a few rays and get a nice tan. 🙂   PURE WHITE SEAL SPOTTED ‘CHILLING’ ON THE ROCKS was last modified: July 18th, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:burtonportDanny BreslinFeaturesfishermannewsSealSnowballWhitelast_img read more

Del Norte girls advance to title round

first_imgThe No. 2 Del Norte girls basketball team came away from the schools first every North Coast Section Division IV semifinal game with a hard-fought 47-42 victory over No. 6 Lick-Wilmerding to punch its ticked to Saturday’s championship game.“I’m super excited because this has never happened,” said Del Norte senior Kaleya Sanchez. “It feels really good. I am so proud of my team. We have been making history already and we just keep progressing and making more history. That is exciting.”The …last_img read more

Nets to play Thunder, Heat in Mexico City this December

first_imgDon’t miss out on the latest news and information. It’s all part of the NBA’s emphasis on expanding the popularity of basketball in Mexico. Last season, the Phoenix Suns played the Dallas Mavericks and the San Antonio Spurs in Mexico City. The league has played 26 times in Mexico dating back to 1992, the most games held in any country outside of the U.S. and Canada.The games will be televised on ESPN.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout SEA Games in Calabarzon safe, secure – Solcom chief LOOK: Venues for 2019 SEA Games Read Next Catriona Gray spends Thanksgiving by preparing meals for people with illnesses WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding Typhoon Kammuri accelerates, gains strength en route to PH K-pop star Jung Joon-young convicted of gang rape, spycam crimes NEW YORK, NY – NOVEMBER 03: Brook Lopez #11 of the Brooklyn Netsdies for the ball with Steven Adams #12 of the Oklahoma City Thunder in the second half at the Barclays Center on November 3, 2014 in the Brooklyn borough of New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Alex Goodlett/Getty Images/AFPNEW YORK — The Brooklyn Nets will travel to Mexico City in December for two regular-season games as part of the 25th anniversary of the first NBA game in Mexico.The league announced Wednesday that the Nets and Oklahoma City Thunder will play in Mexico City on Dec. 7. The Nets will play the Miami Heat on Dec. 9. Both games will be in Arena Ciudad de Mexico.ADVERTISEMENT Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:19Fire erupts in Barangay Tatalon in Quezon City01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC LATEST STORIES UPLB exempted from SEA Games class suspension MOST READ View comments EAC’s Laminou out for the NCAA season due to torn ACLlast_img read more

Tempers flare in SMB-Meralco duel

first_imgFire hits houses in Mandaluyong City Bolts big man Kelly Nabong and Ross also had a heated commotion.Security and officials from both teams, though, were quick to pacify the situation as both teams went their separate ways.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutPBA commissioner Chito Narvasa also made sure that there won’t be any trouble when the two teams returned to the court for the second half.San Miguel leads Meralco, 51-39, at the half, in a game with heavy playoff implications hanging in the balance. LATEST STORIES Nonong Araneta re-elected as PFF president Frontrow holds fun run to raise funds for young cancer patients  E.T. returns to earth, reunites with grown-up Elliott in new ad  Kammuri turning to super typhoon less likely but possible — Pagasa MOST READ Read Next LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversarycenter_img PBA IMAGESAs if emotions weren’t already on a high, tempers flared at halftime during a game between rivals San Miguel and Meralco on Sunday.Eyewitnesses said Chris Ross and Allen Durham engaged in a trashtalk each other at the end of the second quarter and further continued as both teams went to their respective dugouts.ADVERTISEMENT A win by the Bolts will give them the top seed and relegate the Beermen to sixth place. Meralco drops to third if it loses.A Beermen victory on the other hand, would put them in the top two if they end up winning by at least 19 points Don’t miss out on the latest news and information. View comments ‘Excited’ Terrence Romeo out to cherish first PBA finals appearance PLAY LIST 01:30’Excited’ Terrence Romeo out to cherish first PBA finals appearance00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Oakland’s Maxwell first MLB player to kneel during anthemlast_img read more

Azarenka withdraws from US Open amid child custody dispute

first_imgFILE – In this Sept. 3, 2015, file photo, Victoria Azarenka, of Belarus, returns a shot to Yanina Wickmayer, of Belgium, during the second round of the U.S. Open tennis tournament, in New York. Two-time Australian Open champion Victoria Azarenka says her participation in the U.S. Open is in doubt because she might not be able to bring her baby son with her to New York as a result of her separation from the child’s father. Azarenka says via a posting on Twitter on Thursday, Aug. 17, 2017, that she is “faced with a difficult situation which may not allow me to return to work right away.” (AP Photo/Charles Krupa, File)NEW YORK — Two-time Australian Open champion Victoria Azarenka withdrew from the U.S. Open on Monday because she was unable to resolve a custody dispute with her infant son’s father.The 28-year-old star from Belarus gave birth to her first child in December and she returned to the tour in June. She detailed the dispute with the boy’s father in a long Twitter post last week, saying she might not be able to bring her son with her to New York.ADVERTISEMENT “I am sadly unable to compete in this year’s U.S. Open due to my ongoing family situation that I am working through,” Azarenka said in a statement.In last week’s post, Azarenka wrote that she separated from Leo’s father shortly after Wimbledon, where she lost to Simona Halep in the fourth round on July 10.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening“As we work to resolve some of the legal processes, the way things stand now is that the only way I can play in the U.S. Open this year is if I leave Leo behind in California,” Azarenka wrote, “which I’m not willing to do.”Azarenka has not played since Wimbledon, and the former No. 1 player is now ranked 204th. She was the runner-up in New York in 2012 and 2013, losing in the final each year to Serena Williams. Those were also the years that Azarenka won her two Grand Slam singles titles in Australia. Williams, who is pregnant with her first child, also will not play in this year’s U.S. Open. On the men’s side, three top-10 players have withdrawn with season-ending injuries: defending champion Stan Wawrinka, Novak Djokovic and Kei Nishikori.Sports Related Videospowered by AdSparcRead Next Don’t miss out on the latest news and information. Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games NATO’s aging eye in the sky to get a last overhaul Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Trump signs bills in support of Hong Kong protesters MOST READ Celebrity chef Gary Rhodes dies at 59 with wife by his side Rugby World Cup winner reveals heart surgery after tick bite Lacson: SEA Games fund put in foundation like ‘Napoles case’ Hotel says PH coach apologized for ‘kikiam for breakfast’ claim LATEST STORIES Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Pagasa: Storm intensifies as it nears PAR View commentslast_img read more

SEND AUSRALIAN WORLD CUP TEAMS MESSAGES OF SUPPORT

first_imgTFA would like to congratulate and wish luck to all who are representing Australia at the 2007 FIT World Cup, and you have the opportuniy to show your support for the Aussies and do the same.Messages of support and congratulations can be sent to all Aussie players, teams, coaches, and officials currently at the tournament.Send your message by fax to:Protea Hotel Stellenbosch, South AfricaFax: 0015-27-218-809-505last_img