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Protesters hurled debris and glass at police in the latest expression of anger at zero-Covid rules.
The 10-year Treasury is yielding less than the 2-year note by the largest amount since the 1980s. This unusual relationship between yields reflects investors’ bets on easing inflation and future rate cuts.
A bigger deficit means they have to sell more bonds, which becomes a doom loop."
The former International Monetary Fund official has served as international affairs counselor to Yellen for the past two years after he came out of retirement. "He will be irreplaceable for the department...
Yellen told an event hosted by the New York Times Dealbook she had no plans to leave Treasury.
Eurointelligence writes Industry is Really Worried about IRA. Whether you talk to European industrialists in Brussels or German industrialists in Berlin, you get the same message these days. They are really worried about the US inflation reduction act.
Nov 30, 2022 - 07:14:16 PST
Leaders of several major international economic organizations have warned against the negative impact of deglobalization, as the global community increasingly reaches consensus on the economic harm caused by the protectionist policies adopted by the US and some of its allies.
After plunging by the most since COVID lockdowns in September, analysts expected US pending home sales to tumble once again in October and they did, dropping 4.6% MoM (September was revised slightly higher from -10.2% MoM to -8.7% MoM)...
The Most Splendid Housing Bubbles in America, November Update: Deflating Everywhere, Fastest in San Francisco & Seattle. Pho...Nov 30, 2022 - 07:10:15 PST
In several markets, prices plunged even faster than they’d spiked.
In a massive downside surprise, the Chicago PMI survey just printed 37.2 (vs 47.0 expectations), plunging to its lowest level since the peak of the COVID lockdowns in 2020. This was below the lowest estimate of 25 economists surveyed.
Jim Rogers: Worst Recession + Worst Bear Market Of Our Lifetime Approaching FastNov 30, 2022 - 06:48:43 PST
As we approach the end of one of the most tumultuous years for the markets in decades, investors minds are turning towards what to expect in 2023.
Finally, we should remind readers that this data is largely meaningless as it looks at the state of the economy during the summer, while what matters for the Fed is the here and now, and how fast the US slides into recession; which means what Powell says at 1:30pm today will be even more important.
Gold rose on Wednesday as the dollar eased and was headed for its biggest monthly gain in more than two years.
The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.
Mortgage Rates Fall for the Third Straight Week, but Demand Still Drops FurtherNov 30, 2022 - 05:50:11 PST
Mortgage rates continue to ease, but demand is not following, as there are few who can benefit from a refinance, and homebuyers are still facing high prices.
ADP Signals "Turning Point": Weakest Labor Gains Since Jan 2021, Manufacturing Job Losses SoarNov 30, 2022 - 05:44:06 PST
The Midterms are over and so any pretense of a 'strong as hell' economy are out of the window, providing some ammo for folks to believe this morning's ADP report (ahead of Friday's payrolls print) may come in very ugly.
The dollar is the world's currency. As such, the Fed's monetary policy is de facto the worlds monetary policy...
Brace for a tough year for global economic growth, Citi warns.
Nov 30, 2022 - 05:37:37 PST
Amid falling home prices and rising interest rates, homeowners who went with a variable rate mortgage are feeling squeezed from both sides, with financial experts predicting more pain to come.
The federal government plans to back mortgages of more than $1 million, catching up with the dramatic rise in US home prices in recent years.