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Confirming "no deal" today, headlines stating that a House vote on Democrats' stimulus deal is expected today, US equities and bond yields tumbled as Pelosi claims the difference is 'not dollars, but value'...
If you’re worried about the short-term economic outlook, WSJ’s Greg Ip has some bad news: the long-term outlook is worse.
he International Monetary Fund sounded a warning over rising global debt levels and proposed reforms to the debt-restructuring process for countries that struggle to meet their obligations, a number that is set to rise as the pandemic batters economies.With the world’s debt set to approach...
KKR Warns the Fed Could Strike Against Financial Market ‘Froth’ Even With Low Interest RatesOct 1, 2020 - 09:59:52 PDT
“The Fed is now starting to publicly remind everyone that monetary policy is intended to ‘fix’ the economy, not continually bolster financial asset prices. Hence, it has made the decision to flag ‘financial stability’ more aggressively in its mandate,” say the strategists.
Today, 14 million children regularly miss meals — three times more than during the Great Recession and five times more than before the pandemic.
Venezuela is facing one of the world’s worst food crises as a gasoline shortage makes it harder for farmers to produce and deliver their goods. A recent U.N.-sponsored report found that about one-third of Venezuelans lacks sufficient food.
NYU Stern Business School Professor Nouriel Roubini, discusses global deflationary pressure from the coronavirus pandemic, the issues he sees as risks to markets, and tensions in the Middle East.
The U.S. economy should continue to recover from the coronavirus-induced recession even if Congress puts off consideration of additional fiscal stimulus to 2021, Federal Reserve Bank of St. Louis President James Bullard said.
U.S. House Speaker Nancy Pelosi told top Democrats Thursday that she’s skeptical of getting a deal for a new economic stimulus in negotiations with Treasury Secretary Steven Mnuchin, according to two House Democratic officials.
Pelosi and Mnuchin are expected to talk again as House Democrats consider voting on a coronavirus stimulus bill that will not pass the Senate.
Oct 1, 2020 - 08:18:52 PDT
The central bank’s new focus on inflation means the once-vaunted monthly employment data is almost worth ignoring.
The Swiss city of Geneva is to introduce a minimum wage of 23 Swiss francs ($25) an hour, equal to roughly 3,772 Swiss francs ($4,100) a month for a 41-hour work week.
The renminbi has become a prime indicator of the dollar’s fortunes in the same way that Japan’s yen was in the 1990s. Indeed, the sharp rebound in China’s currency this year is a clear sign the greenback is likely to weaken further against the euro and other major currencies.
White House Stimulus Proposal Goes Over $1.5 Trillion With $20 Billion for AirlinesOct 1, 2020 - 07:41:25 PDT
The Trump administration has proposed including a $20 billion extension in aid for the battered airline industry in a new stimulus proposal to House Democrats worth over $1.5 trillion, White House chief of staff Mark Meadows said on Wednesday.
U.S. equities edged higher amid signs of tentative progress in Washington toward a fresh fiscal-stimulus package but came off their highs of the day amid concern there won’t be a deal.
U.S. employers announced another 118,804 job cuts in September, with bars, restaurants, hotels and amusement parks leading the pack amid sluggish demand several months after the COVID-19 pandemic struck the nation.
As big U.S. commercial banks close their books on the third quarter, analysts expect them to report a 30% to 60% plunge in profits on the year-ago period due to the pandemic-induced recession and near record low interest rates.
Large outflows from emerging market investments towards the end of September point to a big "risk-off" shift brewing, Institute of International Finance economists say.
Unemployment rose for a fifth straight month in Europe in August and is expected to grow further amid concern that extensive government support programs won't be able...
"...manufacturing looks to be entering the fourth quarter on a slower growth trajectory, adding to signs that fourth quarter GDP growth will wane considerably from the third quarter rebound.”