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Coronavirus Job Losses & Pay Cuts Are Hitting These Households the HardestApr 22, 2020 - 12:51:58 PDT
U.S. households that already were less prepared to absorb a sudden drop of income are experiencing the greatest share of unemployment and pay cuts, new research shows.
Over half of CEOs around the world say the coronavirus is a significant threat to their business; 11% say it could bring their demise, according to a survey from YPO.
The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds.
“Three times deeper than the Great Recession?”
Once the system collapses, we all lose, even the insiders who have traded every shred of their soul for financial gains, at the expense of everything that was once held dear.
To the growing list of disruptions caused by the coronavirus pandemic, add this one: the housing market. If you’re trying to sell a home or buy one or just think you might list your residence at some point, you’ll need to rethink things.
The US dollar is heading for a drop towards the end of this year, according to strategists, in what would mark a reversal from a record-breaking surge when coronavirus first washed over markets. Before the pandemic spread the US had the highest key interest rates among developed economies, which supported the dollar as investors sold currencies with negative rates such as the euro to buy the greenback and profit from higher yields.
Australia’s central bank is scaling back its policy firehosing of money markets as dislocations from coronavirus ease and the bank’s bond-buying program has lowered interest rates across the economy.In the month since it initiated a quantitative easing program, the Reserve Bank of Australia
The Reserve Bank of New Zealand is on course to own more than a quarter of the nation’s debt by next February, even if it doesn’t start direct monetization, according to Bloomberg calculations.Governor Adrian Orr said Tuesday he remains open minded about buying the nation’s debt directly...
A complete implosion and restructuring of the global pricing scheme for gold & silver is not out of the question in the weeks and months ahead...
Apr 22, 2020 - 10:54:35 PDT
The lender’s smallest customers were almost entirely shut out through another channel, according to data disclosed by the bank.
Democrats and the White House have a list of priorities for the next coronavirus relief bill, but congressional Republicans are wary of more spending.
A tsunami of job losses, which began among workers in restaurants, hotels and factories, is now reaching the offices of white-collar America --- where analysts and engineers find themselves among the rapidly swelling ranks of the unemployed.
U.S. Senate Majority Leader Mitch McConnell on Wednesday opened the door to allowing U.S. states to file for bankruptcy to deal with economic losses stemming from the coronavirus outbreak that are punching big holes in their budgets.
Orbiting hundreds of miles above the Earth, the Sentinel-1 satellites are the eyes in the sky that show why U.S. oil prices dropped below zero and why much of the world is likely to follow.The satellite bounces radar signals off the massive metal tanks that store oil and that data is used
Gold prices rose on Wednesday as investors sought safe-havens after an historic slump in oil prices exacerbated fears of a global recession, with most countries remaining locked down in the grip of the coronavirus pandemic.
As the economic carnage from the coronavirus pandemic continues, a long-forbidden word is starting to creep onto people’s lips: “depression.” In the 19th and early 20th centuries, there was no commonly accepted word for a slowdown in the economy. “Panic” was the term typically used for financial crises, while long slumps were commonly called depressions.
The United Nations is calling for the creation of a global authority to help implement the temporary suspension of debt obligations from developing countries during the coronavirus pandemic. The proposal will enable private creditors to join the debt payments pause and allow countries use resources to fight the new illness...C
European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken euro zone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult.
But look beneath the surface, some economists say, and the CBO’s calculations are not that comforting. Why? Because they suggest the government may not be providing the economy with all the support it might need to survive the coronavirus shock relatively intact.