Since tomorrow's monthly unemployment report is postponed, today we focus on what we do know from recent government data. Citigroup aggregates all economic releases in its cumulative Economic Surprise Index, where better than expected data adds to the index and worse data subtracts. The most recent reading is 51.7, which is near the top of the range for the past year.
The Bank of Japan will wait at least until the second quarter of 2014 before deciding whether to add more stimulus, as it gauges the impact of an April sales-tax increase, said Atsushi Mizuno, a former BOJ board member.
Hedge funds’ combined holdings in gold futures rose the most this month as continued U.S. monetary stimulus spurred investors to sell short contracts and sent prices toward the first quarterly advance in a year.
U.K. mortgage approvals rose to the highest in more than five years in August as the government prepares to accelerate a home-buying program that’s been criticized for potentially over-stimulating the market.
“The tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement in the economy and the labor market.” Federal Reserve Chairman Ben Bernanke, Sept. 18