22 June 2019 FT — Articles to Read

Question: According to MSN: Money, what is the average credit score for people in Maryland?

Fed’s Bullard and Kashkari argue for rate cut – Pg. 3

  • Slowing growth momentum and the lack of inflationary pressure are fueling the case among Federal Reserve policymakers for a rate cut this year
  • Concerns about the US-sino trade war and tensions with Iran prompted the Fed on Wednesday to cut its inflation forecast for this year.  It added that economy activity was rising at a “moderate” rate, a dimmer view than the “solid” rate noted in the May statement

Feeble lift for Eurozone raises prospect of further stimulus – Pg. 4

  • Economic conditions for businesses in the Eurozone showed only modest signs of improvement in June, ….
  • The weakness of the pick-up in the survey will support investors’ and economists’ expectations that the ECB will launch a fresh round of stimulus in the coming months

Stores woes pile pressure on landlords – Pg. 12

  • Online retail, high costs for retailers, outdated buildings and high debt levels have sent rices and rents plunging for landlords, …
  • Rents agreed in UK shopping centres in the first quarter of 2019 dropped by a third compared with last year – using a measure that takes account of concessions such as rent-free periods ….
  • In some of the worst affected centres, rents plunged 40 to 60% in just three months
  • In Europe, vacancy rates are rising across the retail sector,…
  • In the US, retailers have announced more than 6,900 store closures this year, more than the whole of 2018, with a further threat looming form the trade war with China
  • On Fifth Avenue, the New York shopping street, about one in six stores on the crucial stretch from 49th to 59th streets is available to rent
  • …US mal Reits are trading at an average discount of 20% and continental European retail landlords at a 16% discount,…

Stock funds attract soaring inflows on hopes central banks will cut rates soon – Pg. 13

  • Equity funds around the world have attracted their biggest weekly inflows in more than a year, as investors grow increasingly confident that central banks will support financial markets with looser monetary policy
  • ….Fed fund futures prices suggesting an 80% chanced that the US central bank will cut rates by 25bps in July
  • The funds data were released on the same day that the S&P 500 index of the largest US public companies hit a new record, …
  • The benchmark is up almost 18% for the year after suffering a sell-off in December, driven in part by hawkish comments from the Federal Reserve chairman…that spooked the market

Answer: 678 (Rank: 31)