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$1 Trillion Infrastructure Bill Hits Snag As Senators File Nearly 300 AmendmentsAug 4, 2021 - 09:47:01 PDT
An already-tenuous $1 trillion infrastructure spending package has been thrown into further disarray this week, after lawmakers filed nearly 300 amendments to the legislation, according to The Hill, which notes that in several instances "senators are holding their colleagues’ amendments hostage by objecting to voting on them unless their own priorities are also guaranteed a vote."
Key S&P Sector May Be Signaling a Second-Half Growth Slowdown, Strategist WarnsAug 4, 2021 - 08:15:33 PDT
Materials stocks may be flashing a warning signal. A recent reversal in the S&P 500 basic materials index could mean growth is about to hit a wall, Miller Tabak’s chief market strategist, Matt Maley...
Aug 4, 2021 - 07:32:35 PDT
I started my career on a trading desk at Merrill Lynch in 1978. U.S. equities had been in a nine-year brutal bear market that still had four more years to go.,,
Is past performance now a guarantee of future results due to the Fed's creation of "moral hazard" in the financial markets?
Inflationary pressures remained substantial at the start of the third quarter. Input costs rose markedly, and at one of the fastest rates on record amid significant supplier delays and material shortages.
Heading into today's quarterly refunding announcement, the bond market was on edge over the (low) possibility widely discussed on sellside desks, that the Treasury could cut trim coupon auction sizes in the next few months to coincide with the Fed's tapering as the Treasury's funding needs have gradually emerged to be less than expected thanks to higher than expected tax revenues.
The Federal Reserve should be in the position to begin raising interest rates in 2023, Fed Vice Chair Richard Clarida said on Wednesday, as he predicted the U.S. economy remains on track to meet the central bank's employment and inflation goals.
The 30-year U.S. mortgage rate fell below 3% last week for the first time since February as interest rates globally drifted lower.
Bond yields worldwide gravitated toward zero and below amid concern the spread of the coronavirus delta variant will derail the global economic recovery.On Wednesday, the U.S. five-year real yield reached a record low, while the benchmark 10-year nominal yield hit its lowest level in five months after a weaker-than-expected report on company job growth.
In yet another sign inflation might not be transitory, over 85% of manufacturers reported increasing prices in July in the most recent manufacturing ISM report. At some point, producers will have to take steps to mitigate the impact of rising prices. That means passing costs on to consumers, cutting costs, or some combination of the two.
Gold edged higher on Wednesday, propped up by a subdued dollar, although prices lingered in a narrow range as investors focused on U.S. jobs data due later this week to gauge economic recovery.
The global economy may have finally run up against hard limits of "infinite substitution" and "infinite expansion" funded by central-bank free money.
Analysts expected a 7th straight month of 'solid' employment gains in July, forecasting ADP to show the US economy added 683k jobs (despite recent weakness in ISM Employment data). They were wrong, very wrong!
As a journalist in China, Liu Hu was no stranger to punishment. For reporting on corruption among government officials, Hu was arrested, accused of “fabricating and spreading rumours,” and fined.
With the stimulus checks long ago spent, Americans have gone back to buying things the old-fashioned way - on credit.Household debt surged by $313 billion in the second quarter to nearly $15 trillion, according to the Federal Reserve Bank of New York Household Debt and Credit Report. It was the biggest quarterly dollar increase in household debt since 2007. In percentage terms, household debt grew by 2.1%, the biggest surge since Q4 2013.
U.S. policymakers are increasingly concerned about rising house prices for landlords and renters, as the biggest global spike in house prices in at least two decades pushes up the cost of living.
The U.S. Senate made gradual progress on Tuesday on a $1 trillion infrastructure investment bill to upgrade roads, bridges, mass transit and broadband services as the Democratic and Republican leaders squabbled over debate on amendments.
9 Crazy Examples of Waste, Unrelated Pet Projects Snuck into Massive Bipartisan Infrastructure BillAug 4, 2021 - 05:13:20 PDT
The 2,702-page bill includes $50 million to combat 'invasive plants,' $12.7 million for 'recreational boating safety,' the creation of a commission to improve gender diversity in the trucking industry, and much, much more.
Yellen Says Enacting Biden’s Agenda Is Key to Keeping U.S. the ‘World’s Pre-Eminent Economic Power’Aug 4, 2021 - 05:12:31 PDT
Yellen is trying to rally the public behind the bipartisan infrastructure bill and Democrats' even bigger $3.5 trillion spending plan.
Remember when you were in college and the local clinic would offer you $20 to participate in some "benign" medical experiment? Well, we are now at $1000 and rising fast.