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Apr 28, 2023 - 12:38:37 PDT
The Employment Cost Index for the 3-month period ending in March jumped 1.2 percent for civilian workers and 1.1 percent for government workers.
Japan just reported inflation of 3.5%. This is a big deal. Why? First and foremost, it’s significantly higher than expectations: 3.5% vs 3.2%. Secondly, it shows that inflation is turning back upwards in Japan. Last month’s …
It's a Good Thing for Ordinary Americans If the US Loses Reserve Currency StatusApr 28, 2023 - 12:23:04 PDT
Earlier this month, Larry Kudlow insisted that it is "it's incumbent on the U.S. government, no matter who's in power, to maintain the reserve currency status of the dollar." Kudlow laments that a toppling of the dollar from that perch "seems to be the direction we're going in." Kudlow's remarks came a day after Donald Trump declared that China is trying to displace the U.S.
The yen is copping it after the Bank of Japan left its policy settings unchanged as expected, though there was a clear inkling from the statement that change may be in the air.
With the United States still trying to get its arms around some recent bank defaults, the next shoe to drop could be the commercial real estate market.
Four months before the second-largest bank failure in U.S. history, key banking regulators worried about the dangers large regional lenders posed to financial stability, according to records from an advisory meeting reviewed by Reuters.
The Bank of England estimated on Friday that its quantitative easing programme would rack up a total financial loss of around 100 billion pounds ($125 billion) by 2033, which will need to be funded by the government.
Apr 28, 2023 - 08:13:55 PDT
Regulations designed by banks to shield their interests will never be enough to halt banking crises, an economist warns.
First Republic Shares are halted for volatility having collapsed 25% back to record lows as hopes of a 'private' deal fade...
Fed’s Balance Sheet Plunges $171 Billion in Five Weeks since Peak Bank Bailout as QT Continues and Liquidity Support CoolsApr 28, 2023 - 07:50:35 PDT
First Republic, is this you?
Spring Selling Season Already Goes to Heck, Pending Home Sales Plunge. Banking Crisis to Blame?Apr 28, 2023 - 07:49:31 PDT
A harbinger for closed sales in April and May.
Apr 28, 2023 - 07:42:46 PDT
Please consider Penn Wharton's update to the Budgetary Cost of Climate and energy provisions in the Inflation Reduction Act.
A busy end to the week for macro appears to be settling the narrative that we are facing stagflationary pressures as growth slows but inflation signals remain far stickier than expected.
Gold prices eased on Friday as the dollar firmed in the run-up to U.S. inflation data, but economic jitters kept safe-haven bullion on course for a second consecutive monthly rise.
Fed's Favorite Inflation Indicator Slows Only Marginally, Americans' Savings Rate Rises To 15-Mo HighsApr 28, 2023 - 06:01:39 PDT
After US and German GDP gravely disappointed and inflation measures on both sides of the pond remain far more elevated that hoped for, this morning's print of The Fed's favorite inflation indicator will likely drive today's early action among the algos.
The US economy is already in recession, economists have warned after official figures revealed activity slowed sharply at the start of this year, dealing a blow to Joe Biden’s re-election campaign.
High Inflation Still Top Concern for Global Economy, Say Economists: Reuters PollApr 28, 2023 - 05:58:03 PDT
Persistently high inflation remains the biggest economic concern this year even as most central banks are at or near the end-game for rate rises, according to Reuters polls of economists who also upgraded their 2023 growth forecasts from three months ago. With the global economy performing better than expected so far this year, most major economies...
The Bank of England is militantly unrepentant. We are supposed to believe that it is not to blame for the monetary inflation that so convulsed our society over the last two years.
Us Regulators to Release Reviews of Largest Bank Failures Since 2008 CrisisApr 28, 2023 - 05:53:49 PDT
U.S. regulators are set to release confidential details of their oversight of Silicon Valley Bank and Signature Bank in the run-up to the sudden collapses of the regional lenders last month, even as another large financial institution's struggle for survival in the wake of those implosions plays out in real time. In back-to-back reports due on Friday, the Federal...
GDP: Economists Fearing More Than Just a Recession: The U.S. Might Well Be Facing StagflationApr 28, 2023 - 05:45:58 PDT
“This morning’s data was the worst of both worlds, with growth down and inflation up,” said Chris Zaccarelli, chief investment officer of Independent Advisor Alliance.