Longer-term forecasts are a step backwards

Charles Goodhart says central bankers must be more flexible to respond as unknowable events unfold

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German and Chinese data boost stocks

Risk assets are firmer on better-than-expected manufacturing data from China, Germany and the UK.

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Double-edged sword of Fed’s interest rate policy

‘Lower for longer’ policy means savers, group pensions and investors who rely on fixed-income returns face relentless tightening of pressure

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Investors caught out by banking rally

European financials have rebounded strongly but is this the moment to chase the rally or maintain pessimism, asks Richard Milne

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Fed rate stance lifts the appeal of equities

Decision could support sectors such as utilities and energy that thrive on low interest rates and fears of higher inflation

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Italian yields drop as ECB funds kick in

Bonds fell below the 6% level before edging back up in the so-called LTRO rally which has also led to sharp falls in Spain, Greece and Ireland

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Wall Street hampered by soft earnings

US stocks open lower as investors react to a fresh round of earnings reports and news that Greece continues to struggle to reach a deal with its creditors

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Lack of Greek debt deal stymies bulls

Stocks and the single currency are lower as traders express frustration that a deal between Greece and its creditors had still not been reached

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Greek unknowns feed contagion fears

Regardless of any debt deal, uncertainty will still grip the region as three issues remain of deep concern before contagion fears can be laid to rest

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Cattle prices hit record after US drought

The worst dry spell in decades has forced ranchers to sell calves at a younger age than usual, reducing the average weight before slaughter

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