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St. Louis Fed Researchers Say Negative Interest Rates May Be Needed for Economic RecoveryJun 3, 2020 - 08:54:44 PDT
It’s notable, if not a signal of future intention, that a publication from the St. Louis Fed argues in favor of negative interest rates.
The mighty U.S. Dollar is having a wobble, falling to its lowest level on a trade-weighted basis since March. It’s a sign that the economic effects of the crisis are waning around the world. Perhaps it’s time for the U.S. to rein in the unlimited economic stimulus...
“The good news is I think the recession is over, the Covid-19 recession is over, barring another second wave, a major second wave, or real serious policy errors,” said Mark Zandi, chief economist at Moody’s Analytics
Cities’ Next Coronavirus Dilemma: Cut Essential Services or Take On More Debt: WSJJun 3, 2020 - 08:07:39 PDT
Severe revenue shortfalls are prompting many cities around the U.S. to turn to measures that could jeopardize their future, such as borrowing money for operations or cutting police and fire protection.
The brazen corruption at the Office of the Comptroller of the Currency has a real and devastating impact on downtrodden Americans.
Jun 3, 2020 - 07:39:51 PDT
Major banks and lenders, interest rates for refinance loans are significantly higher than those for purchase.
Lawmakers, business groups and analysts are warning that the lending program may fail to deliver the rescue to corporate America that it promised.
The inversion came in the form of figures showing Americans’ collective income rising by double-digits, even as tens of millions of people lost jobs, incomes, and businesses. It’s a statistical oddity caused by Congress’ massive infusion of cash into the economy. .
Factory orders fell 13% in April, a slightly larger drop than the 11% decline in the prior month, the Commerce Department said Wednesday. Economists were...
Trump Administration to Ban Chinese Passenger Airlines From Flying to U.S.Jun 3, 2020 - 07:16:35 PDT
The measure comes after China hasn't allowed U.S. passenger airlines to return to China.
ECB Set to Scale Up Stimulus as New Data Could Indicate a Need to Do MoreJun 3, 2020 - 07:11:21 PDT
The European Central Bank (ECB) is expected to increase their coronavirus crisis asset-purchase program at this week's meeting, amid fears of falling inflation and the steepest economic contraction since World War II for the euro zone.
Gold intervention by BIS held steady in March and April as study hints it's done for FedJune 3, 2020
The BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk. This invites...
Trading volume is EXTREMELY low...
The Chinese government has launched a pilot program for a digital version of the yuan. The virtual currency ups the ante in the war on cash and creates the potential for the government to track and even control consumer spending. It also raises some concern that the Chinese could threaten dollar-dominance.
S&P 500 futures ticked up on optimism that economic activity will improve as lockdown ease and additional government spending will shore up recoveries.
Japanese regulators have warned the nation’s banks for the first time about the risk of investing in overseas securitized corporate loans, which have run into trouble from a wave of U.S. bankruptcies.
The central bank thawed credit markets in March by promising a whatever-it-takes program to buy corporate bonds. Ten weeks later, the Fed has yet to buy a single bond.
The House passes a $3.5 Trillion stimulus bill that Trump labeled DOA. What's next?
A Democrat-Republican feud is underway over what the next round of stimulus should look like.
There’s a Danger in the Disconnect Between Complacent Markets and Weak Fundamentals, Analyst WarnsJun 3, 2020 - 05:42:00 PDT
Mike Larson, senior analyst at Weiss Ratings, says he hasn’t seen markets this disconnected to reality in nearly a quarter-century.
It would be hard for Tiff Macklem to imagine a worse economic backdrop to begin his seven-year term as Bank of Canada governor.One quarter of the nation’s labor force is out of work after the coronavirus pandemic and an oil-price crash triggered the deepest recession in the postwar era...