All the data so far is showing inflation isn't going away, and is making things tough on the Fed [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: Yahoo! Finance
In the aggregate, Commerce Department indexes that the Fed relies on for inflation signals showed prices continuing to climb at a rate still considerably ahead of the central bank's 2% annual goal, according to separate reports this week. Within that picture came several salient points: An abundance of money still sloshing through the financial system is giving consumers lasting buying power. In fact, shoppers are spending more than they're taking in, a situation neither sustainable nor disinflationary. Finally, consumers are dipping into savings to fund those purchases, creating a precarious scenario, if not now then down the road. Put it all together, and it adds up to a Fed likely to be cautious and not in the mood anytime soon to start cutting interest rates. “Just spending a lot of money is creating demand, it's creating stimulus. With unemployment under 4%, it shouldn't be that surprising that prices aren't” going down, said Joseph LaVorgna, chief economist at SMBC Nikko
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News
- Japan's Nikkei slumps on earnings, profit-taking [Yahoo! Finance]Yahoo! Finance
- Japan's Nikkei loses stream as market awaits fresh catalyst [Yahoo! Finance]Yahoo! Finance
- Analysis-Japan faces a tough tug-of-war with yen bears [Yahoo! Finance]Yahoo! Finance
- Japan faces a tough tug-of-war with yen bears [Reuters]Reuters
- JGB yields rise as liquidity-enhancing auction suggests weak demand [Yahoo! Finance]Yahoo! Finance
SMFG
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website