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Here’s the Potential Fallout From $22 Trillion Lost by Investors This Year - BofA: MWNov 29, 2022 - 10:04:03 PST
Investors have lost an estimated $22 trillion in equities, bonds, cryptocurrencies and real estate, which could mean a $700 billion hit to consumption, and...
‘The Economy’s at Risk’: President Biden Again Urges Congress To Help Avert Rail StrikeNov 29, 2022 - 10:01:19 PST
The pressure is on for railroad unions and management to reach a labor deal before a potential freight rail strike hits the U.S. in two weeks.
And so it was on Monday when Federal Reserve speakers let traders know that they were underestimating their intent on how far rates may climb in this cycle. Fed St. Louis President James Bullard, who has often been an accurate bellwether for where benchmark rates are headed, put it bluntly: The Fed needs to get to the bottom end of the 5%-7% range;...
Over the past year, credit card debt has increased for the first time since the start of the pandemic.
In his recent article targeting the collapse of the FTX exchange, Ryan McMaken noted that the easy money regime we have lived under for more than two decades has led to yet another bubble with a spectacular crash.
Nov 29, 2022 - 07:17:44 PST
The hawkish drumbeat from central bankers is raising fears of a downturn, with global bonds joining US peers in signaling a recession, as a gauge measuring the worldwide yield curve inverted for the first time in at least two decades.
Conference Board Says Americans' Confidence Dipped In November, Inflation Expectations JumpedNov 29, 2022 - 07:15:43 PST
The headline consumer confidence signal from The Conference Board was expected to worsen for the second month in a row in November and it did, sliding from 102.5 to 100.2 (weakest since July). While Expectations dropped from 77.9 to 75.4, sentiment towards the Present Situation dropped to 137.4 - its lowest since April 2021.
Gold prices climbed as much as 1% on Tuesday as a pullback in the dollar outweighed pressure from hawkish remarks by U.S. Federal Reserve officials on interest rate hikes.
After tumbling for the first time since 2012 in July, Case-Shiller's 20-City Composite Home Price index was expected to drop for the third straight month in September (the latest data available) as mortgage rates soared, crushing affordability; and it did, with the 20-City Composite down 1.24% MoM (as the YoY rise slowed from 13.06% to 10.43%)...
The dollar looked unstoppable earlier this year when investors were adding to bets on inflation and US rate hikes. Now they’re turning against it in droves.
Banks in the US and Europe with around $42 billion of buyout debt stuck on their balance sheets are making the most of their last chance to get rid of it this year.
Bank of America Corp chief executive officer Brian Moynihan said activity in the U.S. housing market will probably slow for two years as the Federal Reserve raises interest rates, according to an interview Tuesday on CNN. "This is the toughest thing, because you have to slow down the economy, you have to slow down inflation, and the way you do that...
Credit investors are piling back into debt with long maturities hoping that the Federal Reserve will soon slow its pace of tightening.
Federal Reserve Vice Chair Lael Brainard said US central bankers must lean against the risk of inflation expectations rising above the 2% target in a world where inflation may be less stable than in recent decades.
Credit Suisse shares slid below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in a cash call aimed at raising $2.3 billion for the loss-making bank. The offering, part of a broader capital raise worth 4 billion francs which won shareholder approval last week, is intended to help fund Credit Suisse's attempt to recover...
Bulls getting comfortable with Federal Reserve rate-hike policy have another threat to contend with, one that a team at Morgan Stanley says has the potential to send stocks to fresh lows.
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.
Fed’s Shrinking of Balance Sheet via Quantitative Tightening Is ‘A Complete Mistake’ - Mizuho: MWNov 29, 2022 - 05:30:40 PST
‘There is a nontrivial probability that market liquidity will be adversely affected well before the targeted $2 trillion has been rolled off,’ says Mizuho’s U.S. chief economist
China’s worsening economic slump and a likely disruptive rollback of Covid restrictions will keep the central bank on its easing path, economists said, with calls growing for more interest rate cuts.
U.S. stock futures rebounded from Monday’s losses as investors closely monitor the latest developments related to the sudden surge of protests in China over the government’s zero Covid stance — particularly if the unrest leads to any policy changes.