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The US Treasury Secretary expects the Real Estate market to thaw in the coming weeks, with the inflation rate quickly returning to the 2% target.
US Treasury Secretary Scott P. Bensent stated that after recent Indicators fell short of expectations, he anticipates a rebound in the US Real Estate market, with inflation likely to return to the Federal Reserve's 2% target "very soon." He mentioned, "In the next 6 to 12 months, as we relax regulations, extract more US Energy, and push to extend the tax cuts from 2017, our inflation could return to the Federal Reserve's 2% target very quickly." Data released a few hours ago showed that the inflation Index preferred by the Federal Reserve, the Personal Consumption Expenditures (PCE) price index, grew by 2.6% year-on-year in January. The core PCE price index rose by 0.3% month-on-month, marking three months of increases.
Why U.S. Energy (USEG) Is Losing This Week?
Crude Oil in the USA rose 0.4% on Thursday, marking the third consecutive day of increases.
In Peking time on the 21st, US Crude Oil prices rose on Thursday. Data showed a decline in US RBOB Gasoline and distillate production, and concerns over interruptions in Russian crude oil supply supported the rise in oil prices. The price of West Texas Intermediate (WTI) crude for March delivery on the New York Commodity Exchange rose by 32 cents, an increase of 0.44%, closing at $72.57 per barrel. The April contract price of Brent crude on the Intercontinental Exchange in Europe rose by 44 cents, an increase of 0.58%, closing at $76.48 per barrel. The US Energy Information Administration (Energy Information
USA Treasury Secretary Bessenet: There is still a long way to go to increase the proportion of long-term Bonds issuance.
USA Treasury Secretary Scott Bessenet stated that given the current obstacles of rising inflation and the Federal Reserve's Algo tightening plans, it will take time to increase the proportion of long-term Treasury Bonds in government bond issuance. "There is still a long way to go, and we will see what the market wants," Bessenet said in an interview on Thursday when asked about increasing the proportion of long-term US Treasury issuance, "it will be path-dependent." Before taking office, Bessenet criticized former Treasury Secretary Janet Yellen's approach of increasing the proportion of Treasury bills with a maturity of no more than one year in US Treasury, as he believed this practice suppressed long-term yields, aimed at achieving goals before the election.
U.S. Energy Corp. to Present at the Emerging Growth Conference on February 18, 2025
The US Energy Information Administration: The surplus in the global oil market will become more serious in the next two years.
The US expects that the oil market supply surplus this year and in 2026 will be higher than previously anticipated, mainly due to the ongoing increase in US and non-OPEC production, and sanctions are expected to have little effect on Russia's output. The US Energy Information Administration (EIA) stated on Tuesday that the global oil market is expected to average a surplus of 1 million barrels per day in 2026, up from the previously estimated 0.8 million barrels per day in last month's report. The latest forecast is double the surplus the EIA projected for this year and is also an upward adjustment from earlier reports. The increase in the surplus is attributed to stronger-than-expected oil production from non-OPEC and the US.
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