News
Services Surveys Disappoint In May; Employment, New Orders Tumble
Following the decline in Manufacturing survey data (both ISM and PMI in contraction - sub-50), both Services surveys were expected to show improvements in May.
Gold Slips as Firmer Dollar Offsets Bets on Fed Pause
Gold prices slipped on Monday as the dollar firmed after a strong U.S. payrolls report, overshadowing support from prospects that the Federal Reserve would pause its rate hikes this month.
Big Banks Could Face 20% Boost to Capital Requirements: WSJ
U.S. regulators are preparing to force large banks to shore up their financial footing, moves they say will help boost the resilience of the system after a spate of midsize bank failures this year.
Universal Basic Income: Plans Drawn up for £1,600 a Month Trial in England
Thirty people could be paid £1,600 a month without any obligation under proposals for the first trial of a universal basic income in England. Researchers from think tank Autonomy are seeking financial backing for a two-year pilot programme to see how it would change the lives of the group.
The Fed’s Interest Rate Strategy Is Getting Tricky as Plans to Skip a Hike Emerge
The Federal Reserve’s June meeting is shaping up to be one of the trickiest in its 15-month campaign to tame inflation: Chair Jerome Powell seems intent on skipping an interest-rate increase, while explaining to the public that officials aren’t done yet.