Federal Budget (U.S.) Deficits

  • Dollar strength will continue

    Saktiandi Supaat of Maybank says there may be a "window of opportunity" for Asia to strengthen slightly next year, as the U.S. dollar could soften on concerns about the twin deficits.

  • *Italy sticks to growth and deficit plans in revamped budget. LONDON, Nov 14- Italian bond yields hit three-week highs on Wednesday, widening the gap over top-rated German peers, after Italy re-submitted its 2019 budget to the European Commission with unchanged growth and budget deficit assumptions but falling debt targets. The falling debt forecast in the...

  • *British Prime Minister Theresa May won the backing of her senior ministers for a draft European Union divorce deal on Wednesday, freeing her to tackle the much more perilous struggle of getting parliament to approve the agreement. *Italy re-submitted its draft 2019 budget to the European Commission with the same growth and deficit assumptions as a draft...

  • *Israel's debt-to-GDP ratio has fallen to 60 percent. The Bank of Israel has expressed concern that the Finance Ministry has set budget deficit targets of 2.9 percent of gross domestic product for the past two years and for 2019, arguing that level makes it hard to reduce public debt. "A deficit of 2.9 percent is too high given the economy is too close to full...

  • BRUSSELS, Nov 14- Italy re-submitted its draft 2019 budget to the European Commission with the same growth and deficit assumptions as a draft rejected for breaking European Union rules, stepping up its showdown with the EU over its fiscal policy. European Central Bank policymaker Klaas Knot said Italy should comply with the rules or face higher borrowing...

  • *Italy sticks to growth, deficit plans in revamped budget. LONDON, Nov 14- Italian bond yields hit three-week highs on Wednesday, widening the gap over top-rated German peers, after Italy re-submitted its 2019 budget to the European Commission with unchanged growth and budget deficit assumptions but falling debt targets. Yields on higher-rated bonds in the...

  • LONDON, Nov 14- The euro hovered below $1.13 on Wednesday as Italy re-submitted its draft budget for next year to the European Commission and traders prepared for economic growth numbers due out later. Sterling, which surged on Tuesday after Britain and the European Union agreed a draft Brexit deal, was calm as traders prepared for Prime Minister Theresa May's...

  • LONDON, Nov 14- Italian bond yields hit three-week highs on Wednesday, widening the gap over top-rated German peers, after Italy re-submitted its 2019 budget to the European Commission with unchanged growth and budget deficit assumptions but falling debt targets. Yields on higher-rated bonds in the euro zone fell on renewed volatility in Italy, a slide in oil...

  • BRUSSELS, Nov 14- Italy re-submitted its draft budget for next year to the European Commission with the same growth and deficit assumptions as a draft rejected last month for breaking European Union rules, but with falling debt, the new draft showed. The European Commission, which enforces the rules, was considering the option of starting disciplinary steps...

  • Nov 13- The Italian government will maintain its deficit and economic growth forecasts for 2019 despite European Commission demands for the budget plan to be revised, Deputy Prime Minister Matteo Salvini said late on Tuesday. The Commission last month rejected Italy's plan for a big increase in the deficit and described its growth forecast for 2019 as overly...

  • The euro, the region's closely watched reference currency, held close to its lowest level since mid-2017, as Italy faced a deadline from the European Union to cut its budget deficit target. Regional currencies may face additional pressure if Italy does not cut its deficit goal and disagreements with Brussels lead to further euro weakness, traders said.

  • BRASILIA, Nov 9- President-elect Jair Bolsonaro said on Friday that tackling Brazil's budget deficit was a priority but decisions on what to do about it this year, such as a possible veto on a pay rise for the judiciary, were up to incumbent President Michel Temer. Bolsonaro said live on a webcast that he would like to see some form of pension reform passed this year...

  • ROME, Nov 9- Economy Minister Giovanni Tria said on Friday a sharp reduction in the government's budget deficit, as demanded by the European Commission, would be suicide for Italy's economy. Speaking alongside the head of the Eurogroup Mario Centeno, Tria said he had no intention at present of changing Italy's contested 2019 budget and added that EU concerns...

  • Divya Devesh of Standard Chartered Bank says the U.S. dollar will decline in the medium-to-long term because of the rising twin deficits.

  • The U.S. federal government's outlays exceeded its receipts by $779 billion in Fiscal Year 2018, which ended on Sept. 30, according to the Congressional Budget Office. Government receipts increased by just $14 billion while outlays rose by $127 billion, worsening the deficit by $113 billion compared with the previous year. Government outlays increased for...

  • *Moscovici says Italy must respect rules. LONDON, Nov 8- Italian bond yields rose on Thursday after the European Commission cut Italy's growth estimate and forecast a jump in the budget deficit, and as infighting between Italy's coalition partners continued. Italy's 10- year government bond yield rose six basis points higher to 3.39 percent, pushing its spread...

  • BRASILIA, Nov 5- Brazil's right-wing President-elect Jair Bolsonaro said on Monday he will move to overhaul the country's costly pension system soon after he takes office Jan. 1, to bring the government's unsustainable budget deficit under control. But he will also have to launch a public safety plan to crack down on violent crime and advance other...

  • *Italy has deadline next week to heed EU budget rules. BRUSSELS, Nov 5- Euro zone finance ministers called on Italy on Monday to change its 2019 budget before a deadline set for next week to conform with European Union rules, but Rome dug in its heels saying its disputed deficit plan would not change. "We look forward for Italy and the Commission to engage in an open and...

  • CHICAGO, Nov 1- For decades, some of our most prominent U.S. politicians have been sounding the alarm that Social Security is an important driver of the federal budget deficit. U.S. Senate Majority Leader Mitch McConnell, a Republican, recently pointed to entitlements as the key cause of rising federal deficits, and blamed Democrats for refusing to go along with...

  • *Visco says Italy mustn't take risks on budget. Italy's coalition government is locked in dispute with the European Commission over an expansionary 2019 budget which raises the planned fiscal deficit to 2.4 percent of gross domestic product from 1.8 percent this year. In a keynote speech in Rome, Visco said rising government bond yields in recent months would...