Japan: Prime Minister may delay meeting with BOJ
Japanese Prime Minister Naoto Kan may postpone a planned meeting next week with Bank of Japan Governor Masaaki Shirakawa, Jiji Press reported, to avoid the appearance that the government is interfering with central bank policy. Speculation has been rife that Japan will introduce steps to alleviate the threat the yen’s climb poses to growth. (Bloomberg)
US: Payrolls increase in 37 states, led by Michigan
Payrolls increased in 37 US states in July, led by a jump in Michigan that may reflect a gain in auto making. Employers in Michigan added 27,800 jobs last month, the most since October. Massachusetts, New York and Minnesota rounded out the four states with the biggest job gains. (Bloomberg)
US: Treasury 10-year notes gain for fourth week as recovery falters
Treasury 10-year notes gained for a fourth week, pushing yields to the lowest since March 2009, as economic data showed the recovery is losing momentum and the Federal Reserve resumed purchases of US debt. The government will auction USD102bn of 2-, 5- and 7-year notes next week, the smallest monthly offering of that combination of securities since May 2009. (Bloomberg)
US: Home sales probably fell, goods orders up
Home sales probably plunged in July, and orders for long-lasting goods climbed for the first time in 3 months as the US strained to sustain the recovery from the worst recession since the 1930s, economists said before reports this week. Purchases of new and existing houses dropped 12% and durable goods bookings climbed 3%, according to the median forecast of 54 economists surveyed. (Bloomberg)
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