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Last Week’s Highlights
UK Manufacturing Sector Stabilizes in June
The latest manufacturing data from the United Kingdom for the month of June created some optimism. After a disastrous drop in the early months of this year, manufacturing is showing some stabilization.
Data from IHS Markit saw the UK’s Purchasing Manager’s Index rising from 40.7 in May to 50.1. A reading above 50 indicates expansion in the sector.
The rebound came as UK factories re-started operating after the lockdown due to the global pandemic.
Fed Minutes Reveal Discussions on Yield Curve Control
The US Federal Reserve bank released the meeting minutes from the June monetary policy meeting. As interest rates remain near zero, the minutes saw policymakers discussing the various tools available for monetary policy.
The minutes showed that policymakers were discussing the idea of yield curve control, something similar to what the Bank of Japan does currently.
Members also indicated support for outcome-based f...
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