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30 Million People May Get $1,400 Stimulus Checks Now That IRS Has Payment InfoMar 25, 2021 - 12:24:43 PDT
The Social Security Administration has given the IRS payment information that may help clear the way for 30 million people to get their $1,400 stimulus checks.
I'm Hoping For An "Enormous" Infrastructure Package, Says Joe Manchin; & Maybe A VAT Will Pay For ItMar 25, 2021 - 12:10:21 PDT
If the GOP’s concerns about debt are in bad faith, why should Dems take them into consideration in shaping their bills? Even the reddest red-state Dem, Joe Manchin, won’t blink at $3 trillion in new spending on top of $2 trillion now. God help us all.
Chinese Threat to Taiwan 'Closer to Us Than Most Think,' Top Us Admiral SaysMar 25, 2021 - 12:08:05 PDT
China is quickly amassing weapons and systems to militarily overwhelm Taiwan, an action it could be poised to take within the next six years, the admiral chosen to be the next commander of US forces in the Pacific warned Tuesday.
Is Big Trouble about to hit China? If history is a guide, the answer is yes.
Everything is on ice. But when forbearance ends, forced sellers or lenders will put millions of these homes on the market.
Numerous Fed presidents made speeches this week. I award gold, silver, and bronze medals for the best "easy money" quotes.
"The increases in money held by the public are a new experiment to test a widely verified proposition: substantial increases in the quantity of money held by the public are associated with substantial inflation. Inflation is quite likely to be higher in coming years than it has been in the...
"Maybe this time is different, and perhaps this is the turning point – for MMT or for inflation. More likely, the fears and the ebullient promises will converge in a middle-of-the-way third option similar to what we saw after 2008: Politicians, pundits, economists, and central bankers talk, yet...
It wasn't nearly last month's catastrophic 7Y auction but it wasn't all that much better either. Moments ago the Treasury sold $62BN in a closely watched 7Y auction (previewed here), which matched the record size for the tenor
Don't take the money. Ohio is in many ways a perfect example of why a federal bailout of states was hardly necessary—and now it will become the focus of a legal battle over a federal power-grab hidden inside that bailout.
Mar 25, 2021 - 10:02:16 PDT
And it has failed in almost every country where it's been tried.
Bernie Sanders Introduces Bills to Hike Taxes on Corporations and the Wealthiest AmericansMar 25, 2021 - 09:55:24 PDT
Sanders is focusing on reducing income and wealth inequality as Democrats look to raise taxes to fund infrastructure and economic programs.
Argentina is unable to repay its $45 billion debt with the International Monetary Fund under current negotiating conditions, influential Vice President Cristina Fernandez de Kirchner said Wednesday, diminishing the possibility of an agreement with the country’s largest creditor.
The Swiss National Bank softened its language on the need to intervene in currency markets to protect the economy, while insisting the franc is still “highly valued.”Officials led by President Thomas Jordan pledged to continue foreign-exchange interventions, but reverted to their standard line of “as necessary” instead of their commitment introduced...
Fed Officials Press Promise of Complete Recovery Before 'Punch Bowl' DisappearsMar 25, 2021 - 09:10:44 PDT
Top Federal Reserve officials on Thursday continued a barnstorming effort to tell investors and the public at large that the U.S. central bank's expansive support for the economy will stay in place until a quickening recovery has reached deep into the society and is effectively...
Mar 25, 2021 - 09:07:51 PDT
Euro exchange rates could be teetering on the brink of a more notable shift lower as a growing new wave of covid-19 infections grip Eurozone countries, leaving the region's services sector at risk of permanent scarring.
Some chatter is doing the rounds among the traders’ circle that the Chinese government – the so-called "National Team" is reportedly intervening to buy shares to prop up the domestic stock markets.
Senator Warren demanded to know whether Yellen would direct the Financial Stability Oversight Council to consider designating BlackRock as a firm whose failure could threaten the financial system. In response, Yellen indicated that FSOC should focus on risky activities -- citing mutual funds that can face fire sales in a panic -- rather than individual companies.
Citigroup expanded its business with Greensill despite repeated warnings internally not to do so because of reputational risks.
We warned this morning that 'if' we start to sell that selling could be quite material as implied by the trio of vanna charts below (SPX, IWM, QQQ) wherein dealer exposure gets more long as markets drop (and so they need to sell futures), with and we would anticipate a quick visit of the 3800 level in SPX.